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At BCI Group, we take great pride in providing customized employee benefits, retirement planning, and consulting services. We work with you as a knowledgeable partner to create value for your company.

FAQs

• Company
• Benefits
• Retirement
• Consulting
• Life Insurance

Company

1) What does BCI stand for?

Benefits, Consulting, and Investments (with a Retirement focus)

2) What does the pointer in your logo symbolize?

The pointer symbolizes partnership, navigation through rough terrain, and service.

3) Are there any other considerations with BCI's logo change?

No. We have the same ownership, management, values and principles. The decision was made to update our logo through our website upgrade analysis and has enabled us to provide consistency and efficiency to all our materials. We continue to be dedicated to the high quality service you have come to expect.

4) What makes BCI Group unique?

Whether we are working with you on retirement planning, benefits, or business consulting, it is our belief that your company has a unique set of circumstances that deserve tailored solutions. Our ongoing commitment to you grows and evolves into a stronger partnership with each year that we work together. Read more about the BCI Difference

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Benefits

1) Why would I engage BCI for the management of my employee benefits?

With decades of experience, BCI can efficiently and effectively design and implement a benefit plan that meets your employees needs, stays within budget, and aligns with your overall company culture and compensation plans. Many companies have benefited from outsourcing components of their human resource management. This is not only more cost effective, but it also delivers a more professional result. With your input, BCI will customize a cost effective plan to deliver meaningful and valued benefits to employees.

2) How does BCI add value to the design, acquisition, and management of a company’s benefit plans?

Employee benefits are becoming more complex. Price increases, high utilization, and ever-changing national and state regulations make having an optimum employee benefits program difficult. BCI Group has devoted our time and resources to a systemized approach that will lead your organization through an efficient process.

In addition, we have well-developed, long-standing relationships with the insurance carriers’ underwriting teams and their senior management. As a result, we have been invited to participate on carrier and local government advisory boards to advise on the future delivery of healthcare. Having a relationship with these decision makers has proved to be invaluable to our clients, especially as we negotiate their initial rates and contracts and at contract renewal.

3) How does BCI get compensated for its employee benefit services?

BCI get compensated in one of two ways: 1) Many of the insurance companies pay a standard non-negotiable commission for distributing their products. For groups that have less than 50 enrolled employees, this commission is built in and paid to BCI. 2) For larger groups, we work either on a fee-for-service basis or receive a commission that is included in the premiums.

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Retirement

1) What is the most important piece to a retirement plan: fiduciary concerns, price, performance, employee education, average savings rate, participation rate, other?

We believe that Employee Retirement Readiness is the most important piece of providing a retirement benefit. This is built upon a foundation of all of these items above and more. Employee Retirement Readiness is BCI Group’s comprehensive process to fully prepare people for their retirement. It involves planning and prioritizing, which is then follow by systematic implementation. With our all-inclusive approach to retirement planning, participants set unique goals and then execute a specific strategy to realize these.

2) Who are the parties involved in bringing this benefit to participants?

We consider all parties when looking to bring a benefit to participants. There are 4 parties involved: 1) the participant; 2) the employer/plan sponsor; 3) retirement plan providers, including BCI Group; and 4) the local and federal government (through regulation of products and services).

3) What is BCI Group’s employee educational philosophy?

We believe that retirement planning is a piece of a bigger financial plan. It is a large piece, but not the only piece. For instance, we encourage participants to put savings into an Emergency Fund. This is the first priority in a beginner’s savings plan. We then encourage participants to begin step 2, which is to understand how to optimize their retirement savings rate within the employer retirement plan. From there, we show them how to move on to other savings steps.

Our philosophy has three distinct sections: a) Saving and b) Investing. When investments fluctuate and sentiment regarding investing is low, we caution investors to understand that the Savings aspect will never go out of style, although investment targets may need to be revisited, since timelines and views on the market may have changed. Because of this, we encourage “Annual Maintenance.” Just as a car needs regular maintenance for top-notch perform, so does a retirement plan.

The final phase: c) Distributions is the culmination of the prior two, and no less important.

4) How does BCI Group add value to our retirement plan?

We coordinate all the above complex considerations, of which there are many. We act as the “quarterback,” surveying the entire playing field to bring thoughtful and thorough ideas on how to optimize the benefit, as well as servicing the solutions we recommend. We are experts in uncovering employer/employee needs and combining those needs with the best providers to meet those needs. This ability to see through multiple layers of detail is what separates us from our competition. This process is not a one-time event, but rather a process of maintaining high quality over time.

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Consulting

1) What is "ownership transition"?

Ownership transition is most often considered a process. It is typically implemented in segments so that it is prudent, affordable, and manageable to both the current and future owners. This transition can take many different shapes including exit strategy, incentive stock option or stock purchase plan, shareholder partner "moving on," and/or management buyout to retain and reward the new leadership group and to help diversify owner's net worth. Read more on the Ownership Transition page

2) When completing an ownership transition plan, does BCI Group assist in restructuring roles and responsibilities of the organization?

Yes, it is important to refine an organization and restructure some responsibilities. BCI Group assists in top-down planning as party to your transition in ownership. We start with the bylaws, buy-sell agreement, and Board (and/or advisory board). Then our team works with the company's key management team and related direct reports.

3) How does BCI Group measure the performance of newly revised organization structure and related responsibilities?

BCI Group assists in communicating reasonable expectations to all parties and we arrange for objective and simple performance measurements.

4) Does BCI Group tend to see a lot of changes throughout the process?

No, the pace for change is slow, but the planning moves fairly quickly. No decisions are made unless the owner is ready, fully prepared and documentation is complete.

5) How does BCI Group get paid for its Consulting services?

We are paid a month-to-month retainer fee ranging from $1,500 - $7,500 per month. Most engagements have a 90-day minimum and then run month to month from that time forward.

6) How do we manage the deliverable of your engagement?

We specifically outline our engagement in writing and we work with client to establish a timetable and set of deliverables.

7) Do you value the company?

We are not a certified valuation firm. Occasionally, we need to hire a certified valuation firm to properly document your company's "market value" (ie; esop or as a component of a client estate plan; full value and/or minority interest holdings that are being sold or gifted. For the most part, however, we simply develop a financial model that supports a financially prudent arrangement between both parties (buyer and seller) and thus we reach a valuation that can be supported through the Company's ability to generate sustainable cash flow. Regardless, we try as best we can to develop an arm’s length transition plan that allows every opportunity for long term success of Company.

8) Do you address payment terms?

Yes. We believe in "skin in the game" so we expect a down payment, possibly some bank financing, likely with the acquirer's personal guarantee, and we include some form of "earn out.” In addition, we don't phase in control of company until after phase 1 and 2 are complete.

9) Do you consider the seller’s estate plan and related estate tax liability?

Yes; we work in the area of estate planning but, as important, we work with legal counsel who is very competent.

10) Who do you represent?

We represent the ongoing success of Company. If the Company remains healthy, then the business can afford to complete an ownership transition plan that is reasonably devised.

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Life Insurance

1) Do you provide life insurance?

Yes, we use life insurance as a viable protection vehicle when it makes sense. However, we only set up life insurance policies as it relates to shareholder buy-sell agreements, estate planning, and/or key-person insurance.

2) Do you primarily work with one life insurance company?

No, we broker any of the major insurance companies. We compete for the best solution for our client each time we underwrite a case.

3) Do you work with term, whole life, or universal life insurance?

We will choose from any of these. Our goal is to find the best solution for the circumstance.

4) Are you qualified to address our life insurance needs?

Yes, BCI Group started in the life insurance industry. We have stayed committed to providing this service; however, we are selective in terms of the cases we work on.

5) Do you coordinate my business planning needs with my personal estate plan needs?

Yes. We treat each client as a portfolio of interests - each of the components blend together in a tightly-fitted program that is efficient and effective from both a financial and a tax perspective.