January 22, 2010
Today I am taking a break from the countdown of my Ten Ground Rules for 401(k)/403(b) Success.
This afternoon we will hold our second "State of the Firm" meeting. Our purpose in starting this quarterly information session for our employees was to provide information on how we're doing as a firm. The financial crisis had seriously shaken most large financial institutions and resulted in the collapse of a few. Throughout late 2008 and early 2009, we heard about one after another firm on the brink. I was as concerned as anyone else about the state of our nation's economy, but at least I had the comfort of knowing that Brighton Securities was in no jeopardy due to our conservative, steady (ok, stodgy) management. Without the benefit of this knowledge, our employees did not have that same level of comfort. After all, we are not a public company and we do not publish our financial results. So while I could feel safe in the understanding that we as a firm were sound, employees did not and could not.
That led to our first State of the Firm meeting last October. The idea is to keep employees informed about what's going on at our firm and our plans for the future as they evolve. The evolution of this meeting means that this time we are having a luncheon for employees, a suggestion from a member of our staff.
Monday: Ground Rule #7: Keeping It Simple
(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).