Why THREE > Professional Financial Services

Industry Spotlight

Professional Financial Services

As a financial professional you understand the importance of balancing risk and reward better than most. Whether you’re advising your clients or analyzing opportunities for your own business, finding the right balance as you grow is critical. 

 

THREE was created to give you the freedom to take a chance without risking it all. So if you decide to launch a financial literacy webinarteach a class about online investing, expand from personal to business clients, offer notary services or just about anything else you can think of, give us a quick call and we’ll update your account.

An ounce of prevention

The best way to protect your business is to educate your staff to help prevent risky situations to begin with. In addition to online training tools, THREE offers these convenient posters that you can print out and start using right now.  

Your Operations

You know all the rules and regulations, you always double check your numbers and you even take your clients out to dinner. You’re more than just an expert in your field, you’re an expert at running your own business. Which is why you never forget rule #1: expect the unexpected. 

$185,000:
The typical loss a small business faces from a cyber incident

A couple of years ago one of my accountants advised a client on how to set up his side business to maximize his tax-efficiency. Well, since then his side business has become his primary source of income and the tax laws changed. Now he and his lawyer are claiming my accountant’s misinformation cost him tens of thousands of dollars. 

We're a small CPA firm; one of our biggest clients is the nursing home in town. It recently came out that their treasurer has been skimping on services and skimming funds for years. The whole town is in an uproar. Patients' families are suing the nursing home and anyone involved. Including my firm and my directors.

It seemed like something out of a movie. Our system had been hacked. But they didn’t just steal our clients’ records or infect our computers with a virus. They were actually holding our clients’ data and social security numbers hostage! For ransom! I had no idea what to do. Who do you even call for something like that 

Your People

You may be a financial professional, but your business is all about service. And in order to provide your clients with the kind of service they expect, you need your people—and you need them to be happy, healthy and safe. After all, supporting and protecting your people is step one in protecting your business.

In 2017 more than 26,000 employees of financial firms were injured at work.

The fees on our 401(k) seemed kind of high. I did some research and found switching providers could save everyone 1.5%/year. Problem is, the day everyone’s plan moved, the market was down, so on paper it looked like a huge loss. One of my employees who’s around 60 panicked and got a lawyer. Accused me of stealing her retirement.  

My partner and I never thought we’d become another wealth management stereotype. But here we are, nine managers. Seven of them men. Still, I was really surprised to find out Ryan had been making comments to Nina—trying to get her to go out with him. We gave him a written warning, but I guess it was too little too late. Now we’re facing a sexual harassment suit.  

Being a tax accountant you'd think there'd be zero risk of bodily harm. But you'd be wrong. With all the new tax laws we've had more people making appointments. Tricia had been putting in 16-hour days. Caffeine might keep you awake, but it doesn't keep away the carpal tunnel. Now she needs to go to PT twice a week.

Your Property

As a professional financial services company you hold a good deal of important information. When you consider what is kept within your office walls, transported by car and stored inside a fragile laptop, the need to protect your property becomes clear. 

1/3 of businesses fail as the result of workplace theft. 

Providing a company car has really helped tip the scale when it comes to recruitment. If there's one thing I've learned from the larger firms, it's to never underestimate the power of a shiny new thing. Unfortunately, wealth managers aren't the only ones who appreciate a new car. Max's car was stolen from right in front of a client's office.

The office is on the 7th floor. I can't say the idea of a flood ever crossed my mind. Then a pipe from the sprinkler system burst. Six of my computers are dead, 80% of our files are soaked, most of the furniture is mildewy and the wood floors are buckling.

I've been encouraging my team to engage with our clients more. Share a relevant article, send a birthday card, that sort of thing. Six months ago, Wendy stopped to pick up coffees for her meeting with a client. She was out of the car for 5 minutes, just enough time for someone to reach in and grab her laptop, which was loaded with her clients' sensitive information.

Couple speaking to their accountant

From auditors to advisors

Whether youre crunching numbers, planning futures, or insuring dreams, your clients put their trust in you and expect you to protect their interests. The first step in doing that is protecting your own interests, which is where THREE comes in: from crisis management to quick claims processing to legal counsel, we’re here when you need us. 

THREE provides comprehensive coverage for:

Get one comprehensive policy to protect your small business.
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Have a question? Speak with a THREE Small Business Advisor, call us at 1-800-507-4495.

The best way to protect your business is to educate your staff to help prevent risky situations to begin with. In addition to online training tools, THREE offers these convenient posters that you can print out and start using right now.

Your Operations

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Your People

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Your Property

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