Endowment Selling

How to build your portfolio Global Hedge ETF

2010-04-12T15:48:00.001-07:00

With more than 10,000 hedge funds in the market hold 1.5 trillion U.S. dollars in business if you do not have the money in a hedge fund can be asked if they are not in the big game. Yale University Endowment 25% invested in hedge funds, absolute returns.

But with the advent of Exchange Traded Funds or ETFs, you have at hand the possibility of building a global portfolio ETF hedge that is the envy of your friends - and do not need to give away 20% ofTheir profits in a Hedge Fund Manager.

What is a hedge fund?

Before us, as you build your portfolio of ETFs Hedge, look at the historical record of hedge funds and their evolution. Hedging means to reduce risk, while speculation is more looking back, focusing on more risks. A hedge fund is a private equity firm that invests with the objective of higher investment returns as a risk for every dollar. The first hedge fund was started by a former Fortune magazine journalist AlfredWinslow Jones in 1949 and he also set the standard for fees which continues to this day: a fee equal to 2% of assets and a performance fee of 20% of gains.
There are an infinite variety of hedge funds but they can be broken down into two categories. Non-directional funds seek absolute returns by using a long/short approach and tend to generate steady but unspectacular returns. Directional funds allocate assets using only limited hedging. Both seek alpha – return over a benchmark from The investment process, the ability of fund managers and let's face it, just lucky.

Hedge mediocre

Since hedge funds do? In 2005, the CS / Tremont index, average global macro fund returned 7.6% versus 10% for the MSCI EAFE Index - and in 2006, 13.5% versus 18% for the MSCI World Index. According to Henry Kat London Business School, only 17.7% of hedge fund investors are not the study has been produced. Why?
Most attempt to exploit anomalies within markets and asset classes rather than between markets and asset classes. Many hedge funds try to do too much and look at too many markets but still lack global diversification. The result? Hedge funds have become commodities competing for opportunities in the same markets.

ETF Advantages

You can build a diversified global ETF hedge portfolio by tactically allocating ETFs with the goal of exploiting anomalies between global markets rather in the markets. instruments that are certainly more than 400 ETFs now on hand from 20 different countries, ETFs, sectors and subsectors of the United States, international transport sectors worldwide, commodities, precious metals, currencies, Regional, inverse ETF, different classes of assets and growth / value decisions.

Investors now have a choice in terms of how companies selected and weighted ETF baskets. Corporate weighted basket of ETF is made on the basis of market value, sales,Fundamentals, technical factors are only some of the possibilities cash dividend record.

In addition to diversity, there are other reasons to use ETFs as tax efficiency, flexibility, transparency to go, and the increasing availability of risk management, such as inverse ETFs, put options, to stop the losses and sell the capacity short.

Despite these advantages, ETFs, you'll still need a disciplined process with clear action and active risk management tools to lock in profits, minimizeEffects of errors and a level of comfort with a regular high levels of cash.

Cash, cash and profits come first

We must also think about how it fits into your overall investment portfolio plan. Effective September ample liquidity with cash or money market funds. You also need a strong comfort in terms of income to meet your current needs and long term. A consultant can perform a good model for you so that even in the worst cases, you will be safe and secure. Thissecurity plan in place, you can then look confidently and at more creative and higher potential for growth portfolios such as a global ETF hedge portfolio.

Set Global Asset Allocations

But what should be the investment process for selecting and removing ETFs from your global hedge portfolio? Here is how Chartwell approaches it.

Before jumping ahead to select a basket of ETFs, we first use a top down approach by allocating assets among different equity markets such as the U.S., Europe, Asia-Pacific and emerging markets as well as some foreign currencies.

Then we set a target allocation for fixed income and inverse ETFs which move opposite of markets and serve as a hedge or portfolio buffer for down markets. Next, we address real assets by making allocations for precious metals, real estate, timber, oil and other commodities.

The Yale Model

This is close to how large endowments are managed at universities across America. For example, below is the asset allocation for Yale University which was described in a recent New York Times article. Yale’s endowment has grown at an annual compound rate of 16% from $1.3 billion in 1986 to $14 billion in 2006.

Real Assets 7.8%

Hedge Funds 23.3%

Private Equity 16.4%

Foreign Equity 14.6%

Domestic Equity 11.6%

Fixed Income 3.8%

Cash 2.5%

At this stage in the cycle and accepting that most investors will have less access to hedge funds and private equity, my preference would be to allocate more to U.S. and foreign equities and to have a larger cash position than the Yale model.

A Process to Filling Your Allocations

The next step is to fill your allocations with appropriate ETFs. Here is the selection process we use that might serve as a model.

First, you need to look at the fundamentals of the top 5-10 companies in the ETF you are considering. These include the composite price to book, p/e ratio relative to other companies and countries. We call this the ETF XRAY.

Next, consider price momentum looking at 50 and 200 day moving averages. Then consider where top global managers are putting their cash to work and where in the world net cash inflows and country and sector allocations are increasing.

You also need to look at the big picture macro economic factors such as interest rates, currency, fiscal discipline and economic growth rates. The direction and pace of this
Variables is more important where you sit. Political developments and events such as elections and market reforms are also crucial.

Finally, consider technical factors such as Point & Figure charts as the ultimate test, times, and to determine where their support could be levels.

Introduction of a risk management system

In order to manage risk and to decide when to sell a position with a clear and disciplined.
Have a maximum 10% position in any one ETF with a 5% cap for emerging markets.
Sell an ETF position if it falls below 200 day moving average or if it falls 8% below its trailing high. Purchase put options on ETFs when available and appropriate. Use modest levels of inverse, sector, precious metal, currency ETFs to buffer your overall portfolio. Rebalance annually to take some gains off the table.

Finally, use the discipline of limiting your portfolio to no more than twenty ETFs. Fifteen ETFs is probably a pretty good number with five 10% positions and ten 5% positions. This avoids the problem of having too many positions in your portfolio since this dilutes the contribution of your best performing ETFs. Having a limit also forces you to sell an ETF before adding an ETF.

Case Study: Brazil

How does this whole process work? Here are two examples for the Brazil (EWZ) and Sweden (EWD) ETFs during 2006.

For Brazil in early 2006 the international fund flows were positive with global equity managers moving to overweight positions and nice net cash inflows. The macro fundamentals were also positive with 3% inflation, foreign exchange reserves $100 billion, $46 billion trade surplus and interest rates high but beginning to fall. The Brazilian companies in the ETF were trading at just over 10 times earnings and the technical chart was also promising. The re-election of President Lula and continued market reforms was anticipated with a fair amount of Trust. ETF Brazil was 45.4% in 2006

Case study: Sweden

In the Swedish case, the flows of international funds have been positive and the macro. Fundamentals impressive: strong fiscal discipline, inflation of 2%, slowly rising interest rates leads to a rising currency. The top ten holdings of the ETF Ericsson (21% guided) has shared a good balance between capital, technology and banking. The relative valuation of investments was only 12 times earnings.

Technical factorsEWD fixed price listings were positive momentum. Politically, introduced in the upcoming elections, the coalition of Mr Reinfeldt's center-right platform of tax cuts and privatization East seems a good chance of victory. The Ishara Sweden was 25% in 2006 and is still strong.

You can see that ETFs give as one of the most important investment vehicles for individual investors the opportunity to build world-class global portfolio that until recently were the responsibility of only the largestand most sophisticated institutional investors. For example, there is a team of 100 money managers that oversea the Yale University endowment and a sizable staff that oversees the investment process.

Getting Some Help

If you think you might need some help in putting together your ETF portfolio, I encourage you to go to [http://www.ETFarchitect.com] for Chartwell portfolio consulting options. Or you may just wish to have us manage your ETF portfolio and will find at this website some preliminary information on this option as well. Please don’t hesitate to call me directly at 719-264-1503 to discuss your personal situation.

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Presentation Skill number 1 - Enthusiasm

2010-04-11T11:33:00.001-07:00

Do a quick Google search for "Presentation Skills" (without quotation marks) and were compared with over 18 million results. A little 'more detailed ("Presentation Skills Training), and the results - rather odd for me - Go to 30.7 million. I would reduce it to one.

Enthusiasm.

Here, instead we had a detailed presentation skills training, for the things I absolutely critical to look like a really exciting and effective presentation. Thisa lot of body language, tone, texture to say, look, visual aids, delivery style, eye contact, repetition, narrative and so on, can Provide to the enormous value, But I think, without enthusiasm, MEANS nothing.

I recently had the opportunity to go with a class at Harewood House, north of Leeds, and there visit the Yorkshire Planetarium. The lady who presented the lecture (MoJo - quite a memorable name) very well, and gave an age4-50 + active throughout ... a pretty tough call. So how do they do?

Well, it was great visual aids (the projection of stars and planets), but the presentation was virtually handed over to the dark, so that their body language, appearance, eye contact and so on were completely irrelevant. What he did, and what makes me believe it would be good before they had even begun, had bags of enthusiasm, who willingly shared. Astronomy is a passion, and every part of it - theirTone, body language and words they used pressed - in this spades. He could not help but notice that she was happy to be there, and it was contagious.

How can we ensure that we, in our presentations so that they prevail? The main thing is to be very, very excited about your material. If you think that the presentation is boring, chances are everyone else will as well. The first step before any preparation or planning, ask yourself: "Why areit? "It could be a fantastic new product or an upgrade, a series of extraordinary performance and an exciting strategic plan or an opportunity to innovate. If so, great, because these are the (relatively) easy.

The real challenge lies in the things that we as a trivial or, worse, think that's bad news for viewers, perhaps. Addressing these in turn:

Presentation of the profane

The big questions that arise here are (1) if it is trivial, because it isbe presented to all, and (2) assume, is commonplace and then share that feeling with others.

This area came to see my attention recently when Steve Jobs introduced the iPhone last update. When I saw him starting to do, I was very surprised and wanted one immediately. Although some non-traditional presentation, here was a man so excited, so passionate about a product, which is almost impossible not to be taken along for the ride. I wasskeptical about what the latest update ... if on paper the changes seemed so much less important than the introduction, I was changing in terms of a new perfume soap powder or a recipe for a chocolate bar made. However, he believed in its importance, and put it in the context of a tremendous journey, and this is what brings me back involved.

Presentation of "bad news"

"Bad news" has sometimes proven - poor financial results, layoffs, closures andmany other things. You may be tempted to exaggerate "the positive and lead to distrust and cynicism, but it is still possible during this type will prevent your audience a reason to listen and buy what you say.

The real key is to understand the past, recognize this, but look to the future, and how these can be better than this. In a later article (released soon) will be similar to the power of good for the failure, because in times likethis is more important than ever.

The basis of the possibility of having a "secular" and "bad news" is also a confidence in the future, which says something, and a passion that things work better and better every day. As a presenter, has an enthusiasm beyond to make sure you have enough to share with the public more than anything. No, that is all the tips, tricks and techniques in the world do not help.

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How to easily create wealth with long-term investments

2010-04-10T11:18:00.001-07:00

Saving for retirement is not the only objective should plan for your long-term financial security. There is also the question of how you intend to create wealth for themselves and their family members, is one day leave behind. So what are the best strategies for creating wealth. Well, the best strategy for most investors their money to invest in blue chip shares or offer a pool of investment funds, buying easy and instant diversification. OnlyIf you're wondering, investment in the Securities Exchange cost an arm and a leg.

A commercial bank as soon as the following slogan to be used to understand this point: "You do not need much money to make money." A minimum of one hundred dollars monthly contribution of funds is a steal for those who know. Ask your financial adviser or broker for details. Want to know how smart people are investing their money to create real wealth? There are severalMethods you can use to invest in stocks or mutual funds. For example, you can start trading with mutual funds taking advantage of your company stop keeping order, and direct deduction for debt used by most companies fund, which attracts a certain amount of money automatically from your monthly salary or bank account .

Not only is the system will help you build a nest egg and your real attempt to create real wealth, is never the money in your greedy hands. On the other handSingle source, some investors prefer to invest to acquire a single lump sum to fund or shares and get offers from companies to enable services to capital investment. Aspects, however, while some investors prefer, can their dividends (which is the money your investment earns while invested in stocks or mutual funds) will be paid in cash, the fun parts fund's can unfortunately reinvest back online Your Dividends in the round.

Reinvestment of dividends yourallows the opportunity to buy more shares to keep every age are dividends paid by the company so that money can grow faster through the power of compound interest. It 'so simple. It is not known to what extent your investment grow! Another word of caution: Unlike long-term investments such as annuities and endowment insurance plans, money is always available when you need it. But the best choice would be to leave it to grow untilwithdraw in order to realize your dreams of life. And the longer you leave it intact, most will grow and build wealth you have always dreamed of you and your family to enjoy for as long as you live.

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Life Settlement - Lead Life Gracefully After Retirement

2010-04-09T12:16:00.001-07:00

Life is unpredictable and it is not always a bed of roses, often one will have to face the ugly site and see the harsher realities of life. When a person is young and earning money, in other words having a steady flow of money every month, life seems to be running smoothly and everything in life seems to be fine. However, all of us must realize that nothing in life remains constant and so we must be prepared for all changes and eventualities that life throws in for us. So what we can do for all this is make sure that we are prepared to deal with any situation. Life settlement is a financial scheme through which a retired senior citizen can keep a steady flow of income even after he is no longer working. Dafter retirement one may need to take care of different types of financial needs and opting for a life settlement is the best way through which this can be fulfilled.

Life settlement is a financial transaction in which a life insurance policy can be sold off to a third party. Selling off the life insurance to the third party is beneficial to both the person who buys the life insurance policy as well as the broker to whom the policy is sold off. The broker who buys the insurance policy becomes responsible for paying off the premium or any other payment that is due for the policy. The broker can go on paying the insurance money till the time all the payments are finished and he can get the insurance money once the policy matures. While selling the life insurance policy, one can get duped by fraudulent buyers so they must be very careful in this regard. The senior citizens must make sure that they are dealing with the proper broker for this.

The policy holder is the person who gets befitted the most from this insurance policy. They can get a huge sum of money either in lump sum or in installment as required by the senior citizen who is selling the life insurance policy. The money which once gets through selling the life insurance policy can be sued for taking care of all the financial need that the senior citizen may be facing. After retirement senior citizens do not life to be financially or otherwise burdened or anyone and that is why opting for a life settlement policy is one of the smartest and wisest choices you can make.

If a senior citizen owns money to anyone getting a life settlement is the best way through which he can take care of this. They just need to make sure that before they approach a broker for selling their life insurance they know exactly the benefits they can get by doing this. Once they know all that is to be knows about the life settlement policy they can take a call on if they wish to do this financial transaction or nor. Life settlement has come as a boon to all those senior citizens who are worried about their monthly flow of money after their retirement.

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Problems selling mortgage insurance protection not My Fault

2010-04-09T08:22:00.001-07:00

Problems with Mortgage Insurance Sales

If you have never sold insurance traditional guides, you know how difficult it can be. You need a lot of miles on your car, drive around with customers in their living rooms to do. You also need to be available when at home, you spend a lot of evenings working tool. Many times you will have time to spend out of town, because there will be guidance and dates, and this maybulky and expensive!

Moreover, some of your views on mortgage insurance because the piece of direct mail received were tightened. But direct mail can provide some people the wrong expectations. You can view the card or letter and see a number of insurance without medical examination, and then proceed from the fact that pre-existing conditions will be ignored. You can find that a certain percentage of the company that has worked so hard to do,refused. People with very common occupations for Disability Insurance may be dismissed only for what they do for a living!

In addition, customers can see an insurance quote disability or critical illness insurance and think they can this type of reporting, without obtaining a large life insurance. The customer can feel as if they have enough life insurance. Some customers may be read on the premium waiver rider, while the unemployed and to confuse that with a furtherUnemployment, which do not offer more mortgage insurance.

You are not the problem!

The problem with the sale of mortgage insurance is not true, as the insurance agent, but a product for sale that do not meet customer expectations. If you choose a product which gives view the security they are currently trying to sell, it's so simple! In fact, many homeowners are concerned about protecting their financesnow, where they live. If a major bank has asked its customers what preoccupies the majority said they are worried about paying the bills, if they have lost their jobs or been disabled. Many homeowners, especially young people, not the large death benefits in question. They're worried about layoffs, injury or disability.

Offer your customers who want Mortgage Protection!

Here is a mortgage insurance protection that addresses many of these problems.You will not need to ask the customer questions and almost all health professionals is accepted for the disabled. There are certain vesting and waiting periods, but we believe that this type of insurance for many customers who do not or can not properly be Considered a traditional mortgage life insurance. You can also use the new clients mortgage insurance until age 70!

Provide our customers with unemployment, disability and hospital insurance,along with a death, and everything on the table, no questions asked health! You can sell this insurance can be completed through the Internet from your home office as forms. Move your protection mortgage insurance business in the twenty-first century.

And no, the customer does not even qualify, the mortgage is to!

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Life Settlement - Lead Life Gracefully After Retirement

2010-04-06T14:51:00.001-07:00

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How to sell annuities with life insurance?

2010-04-04T23:17:00.001-07:00

This is a natural because you can transfer (1035 exchange) from a life insurance policy to an annuity without tax issues. The original basis on the life insurance policy now becomes the basis of the annuity which means that there are situations where an annuity could grow without occurring tax liability.
Here are some situation and general information about life insurance.

Types of Life Insurance

Term Life Insurance, insurance for a specific time period or term. 10 years as an example
Whole Life, insurance for your whole life. Guaranteed premium, death benefit and cash value. Whole life is guaranteed

Universal Life, Limited guarantees and the premium presented to the prospect is usually set by the agent. Funds accumulate in contract based on insurance companies declared rate. Very few UL policies have guarantees other than the good name of the company. Most UL I have seen are under funded.

Variable Universal Life, same as universal life except the funds are invested in separate accounts (like a variable annuity). Once again limited guarantees.

Single premium products. It is possible to buy single premium whole life, universal life and variable universal life. The value to this concept is with the correct policy you can give your prospects a fully guaranteed contract that will never require funding in the future. There are some variations that will not fully guarantee future results so always do the correct due diligence.

Life Insurance Sales Opportunities

1. Exchange: Life insurance cash value will transfer to an annuity without any tax liability. 1035 exchange

2. Remix: Sometimes you can use the cash value in an old policy to purchase a new life insurance contract. The purpose would be to have a paid up policy (no more premiums), remove any loans (forgiven) or to increase the ultimate death benefit to the beneficiary.

3. Policy loans: If You are lucky to find a loan for a life insurance policy, is free money. Here's how it works, you can tell the customer that you get the loan forgiven. Most are bigger than life insurance for long on reason and need for life insurance now less. If the insurance company to adjust the cost base and the premium loan. This changes the amount of tax dollars, but if a claim is not like the death tax is paid. If the need for life insurance is no longerexists, the life of the loan in 1035 and the new base for the company pension. Sell this concept on two levels, loans go away and use the money for their payment except in case of need represented income. Just go and sell will make the loan, the client will love you and hate their insurance agent.

4th income change: if you find them, a pension, whose current goal is to transfer to the recipients of income tested. The taxpart of the deferred pension will be taxable as ordinary income to the recipient. Determining the share of taxable pension money (to keep the tax liability for clients) means to send a policy paid the present value yet. If these proceeds are paid to beneficiaries will be paid tax free. Just compare the future value of life insurance with the tax on retirement.

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How About Selling Annuities Using Life Insurance?

2010-04-03T10:11:00.001-07:00

Types of Life Insurance

Variable Universal Life, same as universal life except the funds are invested in separate accounts (like a variable annuity). Once again limited guarantees.

Life Insurance Sales Opportunities

1. Exchange: Life insurance cash value will transfer to an annuity without any tax liability. 1035 exchange

3. Policy loans: If you are lucky to find a policy loan on a life insurance policy, it is free money. Here is how that works, you can tell the client that you will get the loan forgiven. Most larger life policies are there for a long gone reason and the need for life insurance at this stage is less. Have the insurance company readjust the cost basis and forgive the loan. This changes the amount of non-taxable dollars but if it is paid out as a death claim it is tax free. If the need for life insurance no longer exists, have the life insurance company forgive the loan and 1035 the new basis to the annuity company. You sell this concept on two levels, loans go away and you use the exclusion ratio for their illustrated payout when the need arises for income. Easy sale and the loan going away will make the client love you and hate their insurance agent.

4. Annuity Change: If you find an annuity whose current purpose is to transfer the proceeds to a beneficiary, consider this. The tax deferred portion of an annuity is taxable as ordinary income to the beneficiary. So determine the taxable portion of the annuity, cash it in (withhold the tax liability for client) send the funds to a paid up policy with the cash value still available. When these proceeds are paid to the beneficiary they will be paid tax free. Just compare the future value of the life insurance with the after tax benefit of the annuity.

How About Selling Annuities Using Life Insurance?

2010-04-03T07:26:00.001-07:00

Types of Life Insurance

Variable Universal Life, same as universal life except the funds are invested in separate accounts (like a variable annuity). Once again limited guarantees.

Life Insurance Sales Opportunities

1. Exchange: Life insurance cash value will transfer to an annuity without any tax liability. 1035 exchange

Problems Selling Mortgage Protection Insurance Are Not Your Fault

2010-04-02T05:58:00.001-07:00

Problems with Mortgage Insurance Sales

If you have ever sold traditional mortgage protection insurance, you know how hard it can be. You must put a lot of miles on your car, driving around to meet with clients in their living rooms. You also have to be available for them when they are home, which means you spend a lot of evenings working. Many times you will have to spend time out of town, because that's where you have leads and appointments, and this can be inconvenient and expensive!

Furthermore, some of your prospects may have been attracted to mortgage protection insurance because of the direct mail piece they received. But these direct mail pieces can give some people the wrong expectations. They may glance at the card or letter, and see an offer of insurance with no medical exam, and then assume that pre-existing conditions will be ignored. You may find that some percentage of the business that you have worked so hard to submit gets declined. People with very common professions can declined for disability insurance, just because of what they do for a living!

In addition, clients may see an offer of disability insurance or critical illness insurance and think they can obtain that sort of coverage without obtaining a large life insurance policy. The client may feel as if they already have enough life insurance. Some clients may read about waiver of premium riders while unemployed and confuse that with a supplemental unemployment benefit which most mortgage protection insurance does not offer.

You are Not The Problem!

The problem with selling mortgage protection insurance is not you, as the insurance agent, but the product you are selling which does not meet the client's expectations. When you present a product that gives a prospect the security they are looking for, selling is easy! In fact, many homeowners are concerned about protecting their finances now, when they are alive. When a large bank asked their customers what they worried about, a majority said they worried about paying their bills if they lost their job or became disabled. Many homeowners, especially younger ones, are not concerned about large death benefits. They are concerned about layoffs, accidents, or disability.

Offer Your Clients Mortgage Protection They Want!

You can find a mortgage protection insurance plan that solves many of these issues. You will not need to ask your clients health questions and almost every professions is accepted for disability payments. There are some vesting periods and waiting periods, but we feel that this type of insurance appropriate for many clients who do not want, or cannot qualify for, a traditional mortgage life insurance policy. You can also offer the new mortgage protection insurance to clients up to the age of 70!

Offer clients unemployment, disability, and hospital indemnity insurance, along with a death benefit, and all without asking health questions! You can sell this insurance from your home office as the forms can be completed over the internet. Move your mortgage protection insurance business into the twenty-first century.

And no, your client does not even need to have a mortgage to qualify!

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Problems Selling Mortgage Protection Insurance Are Not Your Fault

2010-04-02T04:42:00.001-07:00

Problems with Mortgage Insurance Sales

You are Not The Problem!

Offer Your Clients Mortgage Protection They Want!

And no, your client does not even need to have a mortgage to qualify!

Road-Test All Telephone Sales Applicants by Telephone

2010-03-31T14:48:00.001-07:00

You might think selling by phone is a challenge.

You face a lot of rejection, and if you do business-to-business calling, my specialty, you need to confront and conquer secretarial screening and voice mail, before you can even earn a shot at wooing your ultimate buyer.

But the selling part, if not easy, is manageable, if you know what you're doing and your have hammered out your value proposition and a great script.

What's really daunting, what keeps business owners up at night, and human resources folks grabbing for the Maalox and Valium, are the recruiting challenges. Simply put, staffing your call center so you're running at 90-95% capacity at all times is nothing less than a Herculean endeavor.

How come?

Turnover is a major problem, keeping new hires in those seats long enough so they'll get their "phone legs" and make a dandy living. Too often, too many of our recruits bolt for the door before their payroll paperwork has been fully processed.

A major metropolitan newspaper has experienced 400% annual turnover, going through 1,200 bodies each year to keep its 300 seat center staffed. I pointed out, after doing a cursory analysis of costs, that this paper could double the salaries of all 300 reps, given what it was wasting in recruiting and training costs, alone.

Adding to their woes was a fundamental error. When they advertised for telephone sales reps, they sabotaged their chances of hiring the best folks, efficiently, by appending these words:

NO PHONE CALLS, PLEASE!

Let me say this quite clearly: Screening telephone sales people by phone is not an option-it is essential. Otherwise, how can we assess whether they have the basic talent and vocal endowment to hold up their end of calls when sales are at stake?

Resumes, unless posted at YouTube or at another video-based site, do not speak. People can look great on paper but be marble-mouthed, frozen with fear, or sound utterly dumb over the phone. The only way to assess their telephone strengths and weaknesses is to get them on the line, or at least allow them to contact you.

Telephone sales job applicants need to be put to a telephone test.

In a future article I'll discuss the crucial paces though which we need to put them before giving them further consideration.

By screening applicants better, especially by phone, we can diminish those costly turnover numbers I referred to above, bringing down our overhead to a manageable
range.

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Endowment Shortfall Problems

2010-03-30T13:52:00.001-07:00

The endowment shortfall is an issue that has effected hundreds of thousands of people across the UK. A conventional endowment policy is a life insurance contract which will pay a predetermined lump sum following the death of the life insured. An endowment policy is also an investment policy as part of the premium is paid into one of the insurer's with profit funds. As the policy progresses a value is accumulated and is supposed to meet a target at the end of the policy, upon assumed growth rates. At this point it matures and pays out a final valuation to the consumer.

The sum insured is split into two elements, the guaranteed sum assured which is an amount that should be guaranteed to be paid out at the end of the policy and the mortgage sum assured which is the guaranteed sum assured combined with the total life cover in place.

Bonuses are paid each year called reversionary bonuses and these accumulate and are paid at maturity. The insurer will announce at what rates these bonuses are applied at each year. There is also another possible bonus applied to the policy upon a claim or at maturity which is called the terminal bonus. Again these rates are announced by the insurer each year and are not guaranteed to be anything at all.

As previously mentioned the policy is an investment and has a surrender value which is made up of the bonuses, premiums paid and how long the policy has been in force.

It is possible that when upon any claim or early surrender that the policy can be penalised due to poor market conditions. This means that the surrender value will have a Market Value Reduction or Adjustment made to it. This is applied to protect other policies that remain invested in the with profits fund that these policies are invested in.

The endowment shortfall has been a result of the poor performance of the insurers' with profits funds. Bonuses have also been low or non existent and whereby upon sale the policies were made out to hit or even exceed at target at the end of the policy they have been falling well short.

The main concern is that the possibility that there could be a shortfall was never made clear at the beginning of the policy by which ever company or agent that was responsible for selling the product.

Throughout the term a consumer can ask for a projection from that point until the policy is due to mature, this is called an estimated maturity value. This will show upon 3 different assumed growth rates what the policy will likely pay out at maturity. This can show a shortfall from early on and people that have been actively watching their policy have been able to take action but unfortunately many people don't find out until a lot later or even at the end and this can be a very problematic surprise!

Due to the backlash that has come from the endowment shortfall problem insurers have seen consumers complain in vast numbers as have financial advisers and any other people or companies responsible for selling these contracts. Companies have been set up to deal with mis-selling complaints on behalf of consumers and also there are a range of market maker companies who are willing to buy endowment policies from consumers for a competitive price so they can keep the policies as collective short term investments. This is a very popular choice for people that are not willing to see the endowment policy through to maturity only to be faced with a huge endowment shortfall. It is at the very least a way of cutting their losses.

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The Importance Of Investing Money For A Rainy Day

2010-03-28T14:05:00.001-07:00

Money in my opinion is not the most important thing in life, but it is nice to know that you have a certain amount of money, saved or invested, which you can use if needed. I actually think that health and happiness are the two most important things in life. Having this pool of money helps to keep me healthy and happy, as it means that I do not have to stress as much about the future.

I only really realised the importance of investing and saving money, when I was twenty-three years of age. Up until this age, I would always spend all of my wages and did not care if I was overdrawn in the bank. I used to think that I could die tomorrow, so why bother about saving money which I might not ever use. This is a bit stupid, I know.

At the age of twenty-three, on one particular day, I was having a conversation with a friend called Tim. He basically earned the same amount of money as I did and lived a similar lifestyle. Tim told me that he was thinking of buying a flat and that he was going to cash in his investment bond to help fund the move. I was very shocked that he even had a bond and asked him how long he had had the bond, and how he had managed to get the money to put into it. I expected Tim to tell me that his parents had given him the money, but they hadn't, he had saved up the money himself.

Tim told me that he tries to save as much money as he can per month and normally manages to save at least £100. When he has a £1000 saved in the bank, he then invests the money into a bond.

I was very impressed with Tim and I have to admit a little bit jealous of his money. I then thought to myself, if Tim can save, then so can I. I set myself a goal of saving up a £1000 and planned to do this within ten months. I had to be less wreckless with my money and it would be a good test for me.

It did not prove to be that difficult and it was a good feeling seeing a healthy bank balance for once. After only eight months I had saved my target of £1000. Instead of putting it into a bond, I decided to take an even bigger risk and to buy some shares. I am happy to say that two years later the share price of the company I had chosen to invest in, had risen by sixty percent. This I have to admit was pure luck as I had simply guessed at who to invest in. The company I chosen had had a dismal few years and its share price was at its lowest ever level. I had heard that the company had recently had some major changes at the top and I decided to gamble just on these few facts.

That was my first experience of investing and it gave the taste for it. I have regularly been buying and selling shares as well as investing in unit trusts for around ten years now. It has also become like a kind of sport or hobby for me, as I am trying to always pick a winner. I have won some and lost some but have had a huge amount of fun along the way.

I now have a certain amount invested in different ways and when for example I have a big car repair bill, I have no need to panic as all I need to do, is to cash in some of the units of my unit trust. That is what I like about a unit trust, unlike with an endowment policy where you need to wait until the end of the term to have access to your money, with a unit trust you can take out all or just some of your units at anytime that you want.

Before I started to save up money, I would often get quite stressed about the future. How would I be able to buy a house? How will I be able to buy a decent car? These are just two of many questions I would ask myself. I would try to ignore the questions by saying to myself that at that stage of my life, I should be earning more money.

I am now very happy that I had that conversation with Tim. Investing money in the way that I do has helped me to get onto the property ladder and also helps to fund my yearly holiday abroad for my family. It also gives me a peace of mind for the future and helps to to sleep easier at night.

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How to Become a Professional Artist - 1

2010-03-27T13:10:00.001-07:00

Does the name Picasso sound familiar to you? Those who recognize the name are either an artist, or they are involved with the art, or they may have some knowledge about the artistic field. It is good to study other famous artists because knowledge of art is essential for living in a cultured society, whether for business or pleasure. There is nothing more pleasing than to see a beautifully painted picture. Once the art work is completed the artists has the option to do many things with the original print, such as frame it, or reproduced it for post cards, pillows, greeting cards, book covers, coffee mugs, tee shirts, and more. The many ways to use a beautiful picture is endless. An artist must have certain art supplies to paint a picture, therefore, he will need some startup money for the business. To start this type of business, the artist will need a telephone, art supplies, and business cards. Many beginner artists start their business from the basement of their homes. If you want more experience in this area, consider apprenticing with a professional artist studio in your area.

Many experts believe new artists should do the following:

1) Apply for grants and other funding to support the work

2) Display the work in larger studios and galleries often to get exposure

3) Network with other artists to find out where to exhibit and get referrals

For information on grants for artists', you may contact the National Endowment for the Arts, 1100 Pennsylvania Ave., N.W. Washington, D.C. 20506

Are you interested in starting a business?

To the new and experienced entrepreneurs, getting help with your small business is very crucial to your success. Getting the right help will cause you to avoid costly mistakes, and it can also help you to save a lot of time, money, and energy. You will need to get the right help to form the legal structure of the business, financial, management, procurement/certification, marketing, pricing products, preparing a business plan, and more. If you are a business owner who is wondering if you can take your business to new heights, contact Dr. Waters at tina.waters@waienterprises.com

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The Most Successful Investors May Not Be Who You Think They Are!

2010-03-27T07:42:00.001-07:00

If you ask people who the most successful investors are, you'll probably get responses like Warren Buffett of Berkshire Hathaway, John Neff, formerly of Vanguard's Windsor Fund, or George Soros, the famous hedge fund manager.

However, some of the most successful investors from a risk/reward perspective are the large university endowment funds. This group includes universities with endowments larger than $1 Billion such as Yale, Harvard and Vanderbilt.

Source: 2007 NACUBO Endowment Study

What Makes the Large Endowment Funds Different?

Large Endowment Funds consistently beat the market on a risk-adjusted basis! Why? Because they heavily diversify away from traditional asset classes like stocks and bonds, and into less well-known asset classes that have the capability to deliver profits over a business cycle. In fact, the average endowment fund with over 1 billion in assets as of June 2007 had less than 59% of its assets in stocks and bonds.

Multi-Asset Diversification

Endowments invest across many different asset classes and pay as little as possible in fees and expenses. Until the recent explosion of low-cost Exchange Traded Funds (ETF's) it was almost impossible to diversify as cheaply and as broadly as the large endowment funds. Now investors can invest in the same sectors as hedge funds and endowment funds utilizing low cost ETF's. It is now possible, through Exchange Traded Funds, to invest in assets like:

Timber - Currencies - Private Equities - Venture Capital - Commodities - Absolute Return Strategies

Introducing the Gradient Endowment Series Portfolios

Based on groundbreaking research conducted at Vanderbilt University, it is now possible for the individual to invest like an endowment fund. Five diversified portfolios are available based on your personal Risk Tolerance Analysis. Each portfolio is allocated across the universe of investment vehicles in increments most suited to each individuals risk tolerance, time horizon etc. Some of the asset classes are illlustrated below.

Real Estate - Fixed Income - International Stocks - U.S. Stocks - Private Equity - Hedge Strategies - Commodities - Hard Assets

Why ETF's Make Sense Often times, ETF's allow us to take advantage of:

Lower Expense Ratios - Tax Efficiency - Diversification - Intraday Trading - Transparency

Reprinted with permission of Gradient Investment Group

Exchange Traded Fund (ETF) A security that tracks an index, a commodity or a basket of assets like an index fund, but trades like a stock on an exchange. ETF's experience price changes throughout the day as they are bought and sold.

ETF Definition Source: www.investopedia

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Christian Grants

2010-03-26T09:33:00.001-07:00

Are you looking for Christian grants but fear that you will have a hard time having your Christian grants proposal accepted in a secular society? Don't worry, there are ways to get the money your church, or Christian school needs. Many government grants accept faith based competition for funds allocated to serving the poor and at-risk populations. You can apply for federal and state money to help with the nutritional, housing, health and educational needs of your congregation and community.

A good resource for this is the Center for Faith Based and Community Initiatives. The Center was created by President Bush's Faith Based and Community Initiative in 2001, and is designed to help the federal government better collaborate with grassroots and nonprofit groups to reinforce and support the work they do. The U.S. Department of Health and Human Services (HHS) sponsors a web page that features a compilation of HHS funding opportunities listed by topic and program office, with guidance on how organizations should apply.

But what if you are looking for money to sponsor specific religious goals (like evangelism, missions, pastor education, church building funds, bible translation, etc.)? In that case, your best bet for receiving a Christian grants is to go to private philanthropic organizations and foundations.

Many of these are listed here: Christian Grants

One of the biggest and best resources out there for Christian grants is the Lilly Endowment Inc.
Lilly Endowment Inc. is an Indianapolis based, private philanthropic foundation created in 1937 by three members of the Lilly family - J.K. Lilly Sr. and sons J.K. Jr. and Eli - through gifts of stock in their pharmaceutical business, Eli Lilly and Company.

The endowment gives Christian grants for efforts:

-to deepen and enrich the religious lives of American Christians, primarily though strengthening their churches;

-to support the recruitment and education of a new generation of talented ministers and other religious leaders;

-to encourage theological reflection and religious practices that cover the wisdom of our Christian tradition for our contemporary situation;

-to support scholars and educators who seek to help the American people better understand contemporary religion and the role it plays in our public and personal lives;

-and to strengthen the contributions that religious ideas, practices, values, and institutions make to the common good of our society.

Just a few examples of what the Lilly Endowment has funded are; worship training and mentoring at Christian colleges, Christian ethics studies and publications, and the national clergy renewal program.

The national clergy renewal program is a very unique Christian grants program indeed. In this program the Endowment provides as many as 120 grants of up to $45,000 each, directly to Christian congregations for the support of a renewal program for their pastor. A master of divinity degree is the minimum educational requirement to apply for this grant. Deadlines for proposals are generally in May, with announcements of recipients made in October.

In the words of the Endowment " renewal periods are not vacations but times for intentional exploration and reflection, for drinking again from God's life giving waters and for regaining the enthusiasm and creativity for ministry. .. When well-prepared, thoughtful, imaginative, able and caring pastors lead congregations, these communities of faith tend to thrive."

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Christian Grants

2010-03-25T21:18:00.001-07:00

Many of these are listed here: Christian Grants

The endowment gives Christian grants for efforts:

-to deepen and enrich the religious lives of American Christians, primarily though strengthening their churches;

-to support the recruitment and education of a new generation of talented ministers and other religious leaders;

-to encourage theological reflection and religious practices that cover the wisdom of our Christian tradition for our contemporary situation;

-to support scholars and educators who seek to help the American people better understand contemporary religion and the role it plays in our public and personal lives;

-and to strengthen the contributions that religious ideas, practices, values, and institutions make to the common good of our society.

The Most Successful Investors May Not Be Who You Think They Are!

2010-03-25T02:34:00.001-07:00

Source: 2007 NACUBO Endowment Study

What Makes the Large Endowment Funds Different?

Multi-Asset Diversification

Timber - Currencies - Private Equities - Venture Capital - Commodities - Absolute Return Strategies

Introducing the Gradient Endowment Series Portfolios

Real Estate - Fixed Income - International Stocks - U.S. Stocks - Private Equity - Hedge Strategies - Commodities - Hard Assets

Why ETF's Make Sense Often times, ETF's allow us to take advantage of:

Lower Expense Ratios - Tax Efficiency - Diversification - Intraday Trading - Transparency

Reprinted with permission of Gradient Investment Group

ETF Definition Source: www.investopedia

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Christian Grants

2010-03-25T02:08:00.001-07:00

Many of these are listed here: Christian Grants

The endowment gives Christian grants for efforts:

-to deepen and enrich the religious lives of American Christians, primarily though strengthening their churches;

-to support the recruitment and education of a new generation of talented ministers and other religious leaders;

-to encourage theological reflection and religious practices that cover the wisdom of our Christian tradition for our contemporary situation;

-to support scholars and educators who seek to help the American people better understand contemporary religion and the role it plays in our public and personal lives;

-and to strengthen the contributions that religious ideas, practices, values, and institutions make to the common good of our society.

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Glossary of Mortgage Terms

2010-03-24T19:47:00.001-07:00

Additional Security Fee

An Additional Security Fee (Mortgage Indemnity Guarantee policy) is the fee taken to get an insurance policy that will cover your lender so that if you default on payments, he will not suffer any loss. You have to pay the Additional Security Fee and the premium along with your mortgage advance. Although you are paying the premium, remember that this policy is for the protection of your lender and not for you.

Administration Fee

The administration fee is the amount charged by your lender to start working on the documentation part of your mortgage application. It includes the home valuation fee as well. The administration fee will not be refunded even if your valuation is not done or if your application has been rejected.

Adverse Credit

Adverse credit occurs when you have a history of bad credit, bankruptcy, CCJ, or loan arrears. Adverse credit can also be called as bad credit, poor credit, or it can be said that you have a low credit score.

Agricultural Restriction

An agricultural restriction is a rule which will restrict you from holding a property if your occupation is in any way related to agriculture.

Annual Percentage Rate

The Annual Percentage Rate is the rate at which you borrow money from lender. It includes all the initial fees and ongoing costs that you will pay throughout the mortgage term. As the name suggests, annual percentage rate, or APR, is the cost of a mortgage quoted in a yearly rate. The annual percentage rate is a good way to compare the offers from different lenders based on the annual cost of each loan.

Apportionment

Apportionment, or sharing out, is a facility that allows you to divide the responsibility for utilities, property taxes, etc. with the buyer or the seller of the property when you are either selling or buying the property.

Arrears

Arrears happen when you default on your mortgage payment or any other type of debt payment. If you have arrears on the record of your current mortgage, you will face problems when you want to look at remortgaging or getting a new mortgage.

Arrangement Fee

An arrangement fee is the amount you have to pay your lender to access particular mortgage deals. While searching for a fixed rate, cash back, or discounted rate mortgage, you will pay this fee at the time that you submit your application, it must be added to the loan upon completion of the term, or it will be deducted from the loan on completion.

Assignment

An assignment is the document transferring the lease of the property or rights of ownership from a seller to a buyer. It may be an endowment policy to the building society in connection with a mortgage.

ASU

ASU is Accident, Sickness, and Unemployment insurance which covers your mortgage payments in case of an accident, a sickness, or involuntary unemployment.

Auction

An auction is the public sale of a property to the person who quotes highest bid. The highest bidder has to sign a binding contract that ensures that he do all valuations, searches, etc. before the sale of the property.

Authority to Inspect the Register

An authority to inspect the register document is a document fro the legal or registered owner of a property allowing the solicitor of the purchaser to get information concerning the property.

Banker Draft

A banker draft is a way to make a payment. In appearance, it is the same as a cheque, but in effect it is a cash payment. The money is given to the bank, and they issue a cheque that is certified to be good for the given amount.

Base Rate Tracker

Base rate tracker is a type of mortgage in which the interest rate is variable, but it is set at a premium (above) the Bank of England Base Rate for a period or for the full term of the mortgage. The best part about this type of mortgage is that it has little or no redemption penalty. This means that by making overpayments, you will be able to save money on interest by paying off your mortgage earlier than the agreed upon date on the initial mortgage contract.

Booking Fee

A booking fee or arrangement fee is charged when applying for a fixed or a capped rate loan. Booking fees are normally non-refundable if charged upfront, but sometimes the booking fee is added to your final mortgage payment.

Bridging Loan

A bridging loan is useful when you want to purchase a property, but your ability to do so is contingent upon the sale of your old property. This is a very short term loan that is paid off as soon as your old property sells. Speak with a loan adviser before taking out a bridging loan to be sure it is the best option for you.

Broker Fee

A broker fee is paid to your debt advisor or other intermediary that assists you in finding the best mortgage or loan deal for your circumstances. BSAThe BSA, or the Building Societies Association, is a group that works in the interest of member societies.

Building Societies Commission

The Building Societies Commission is a regulatory organization for Building Societies. This commission reports to the Treasury Ministers.

Building Society

A Building Society is a mutual organization that gives you money to buy or remortgage residential properties. This money comes from individual investors who are paid interest on their funds. A portion of building society funds is also raised through commercial money markets.

Buy-to-Let

When you purchase a property for the sole purpose of renting it out, you can apply for a buy-to-let mortgage. The payments for this type of mortgage are calculated based on your projected rental income instead of your personal income.

Capital and Interest

Your monthly mortgage payments consist of two parts: the interest and the capital. The interest payment is a payment on the interest balance of your loan. The capital payment is a payment on the amount that you borrowed.

Capital Raising

Capital raising generally means remortgaging for a higher amount than you need to pay off your existing mortgage in order to use the excess money for other personal financial uses.

Capped Rate

A capped interest rate is an interest rate that will not exceed the standard variable interest rate for a set period of time (from 1-5 years) that is decided by you and your lender. If the standard variable rate falls below your capped rate, your interest rate will decrease accordingly.

Cash Back

Cash back is the amount you receive when you take out a mortgage, the amount may be fixed or a percentage of your mortgage amount.

CCJ

CCJ stands for County Court Judgment. This is a decision reached by a county court against you when you have defaulted on your debt payments. If you clear the debt in question in a set amount of time, a satisfactory note will be put on your credit report to signify that the debt is taken care of.

Centralized Lender

A centralized lender is a mortgage lender that does not rely on a branch network for distribution. Centralized lending is now provided by several building societies. These societies operate separately from their branch networks, and they rely exclusively on mortgages from intermediary sources.

Charge

A charge is any interest on a mortgage to which a freehold or leasehold property can be held.

Charge Certificate

A charge certificate is a certificate issued by HM Land Registry to you with your name as the registered title for a given property. This certificate contains details of restrictions, mortgages, and other interests. It has three different parts: a charges register, a property register, and a proprietorship register. If there is no mortgage on the property, it is called a Land Certificate, and it is issued to the registered proprietor.

Chattels

Chattels are moveable items in your house such as furniture or your personal possessions.Chief RentChief rent is paid by the owner of a freehold property. This is the same as the ground rent that is paid by a leaseholder.

CML

Council of Mortgage Lenders

Completion

Completion is a term that explains that you have become the owner of your house after finishing the formalities of the sale and the purchase of the property.

Conditional Insurance

When you take out a fixed or discounted rate mortgage, your lender may try to persuade you to take out an insurance policy that will cover any missed payments due to an illness, an accident, or unemployment.

Contract

A contract is a legally binding sale agreement. There are two identical copies signed by both the buyer and the seller, and each party keeps a copy for their records. Once both parties have signed the contract, they are committed to the terms of the agreement.

Conveyance

A conveyance is the deed by which a freehold, unregistered title is transferred. The deed is called an assignment if your property is unregistered or leasehold. If the property is registered, the deed is called a transfer.

Conveyancing

Conveyancing is the legal process by which the buying and the selling of a property take place.

Covenant

A covenant is an assurance given in a deed.Credit ScoringCredit scoring is the procedure by which a lender evaluates your paying capacity before offering a loan or mortgage.

Credit Search

A credit search is done by a lender and a credit bureau to search your records for CCJs and other indicators of bad credit.

Debt Consolidation

Debt consolidation is the process by which you take out a loan or mortgage in order to pay off a number of high interest debts. By doing this, you will only need to make one payment each month, and you will save significantly on interest charges.

Deed

A deed is a legal document that denotes the owner of a given property. You can transfer a title to both freehold and leasehold with a deed.

Deposit

A deposit is the amount of money you put down toward buying a property.

Disbursements

Disbursements are any amount you pay to solicitors against land registry fees, searches, faxes etc.

Discounted Rate

Discounted rates are used to attract new borrowers to lenders by setting the interest rate below the standard variable rate for a guaranteed period of time. If you repay the entire discounted rate mortgage within the first few years, your lender may charge you early redemption penalties.

Early Redemption Penalty

An early redemption penalty is charged by your lender if you do a part or full payment of your mortgage amount before the completion of your mortgage term. These penalties will also be charged if you decide to remortgage and move your mortgage to a new lender. Early redemption penalties mainly apply to fixed rate, discounted rate, and cash back mortgages.

Easement

Easement is the right held by one property owner to make use of the land of another for a limited purpose, like a right of passage.

Endowment Mortgage

An endowment mortgage is an interest only mortgage supported by an endowment policy. During the term of the mortgage you will pay only interest to the lender, and your premiums are alternately paid into an endowment policy which will mature over the term of your mortgage. The endowment policy is designed to pay off your mortgage as well as act as life insurance. However, you cannot depend on this amount to be sufficient to pay all of your debt.

Endowment

There are different types of endowments, but here an endowment is a life insurance policy that will pay off your interest only mortgage.

Equity

Equity is the amount of value in your home. It is the value of your home less the amount left to be repaid on your mortgage.

Equity Release

Equity release is a means of releasing money from the value of your home either in a lump sum or in monthly installments. This money may be used for home improvements, debt consolidation, or other large expenses.

Exchange of Contracts

Exchange of contracts occurs when the buyer and the seller of a property sign and swap the contracts which detail the property, the price, the date, and the terms of the arrangement. When the contracts are signed, they become legally binding, and legal action can be taken against anyone who breaks the contract.

Existing Liabilities

Existing liabilities are all financial commitments outside of your mortgage. Existing liabilities may include bank loans, credit card debt, maintenance payments, etc.

First Time Buyers (FTB or FTP)

A first time buyer is one who has never owned property before.

Fixed Rate

A fixed rate is when you pay a fixed amount of interest on a loan for a fixed period of time. Lenders provide fixed rate loans for short periods of time (three-six months) all the way up to 25 years. Early redemption penalties apply if you pay off the mortgage before the end of the fixed rate term.

Flexible Scheme

A flexible scheme is a new way of calculating mortgage interest charges. Lenders calculate interest on a daily basis instead of on an annual basis. The new interest rates will only affect the remaining balance of the mortgage. By making regular overpayments, you can repay the loan faster thereby saving a lot on interest charges.

Fixture

A fixture is an item attached to your property, and therefore it is legally part of the property.

Freehold

Freehold means that you have ownership of a property for an indefinite period of time. This is in contrast to leasehold which means that the property is only under your control for a limited period of time.

Further Advance

A further advance is an add-on loan to your existing mortgage from your existing lender. The money from a further advance may be used for home improvements, to purchase a freehold property, or for personal purposes such as debt consolidation.

Guarantor

A guarantor is a person who guarantees the lender that the borrower is eligible for a loan or mortgage. If the borrower fails to make payments, the guarantor will make them.

Gazumping

Gazumping occurs when a seller agrees to sell a property to one person, and they proceed to decline that offer in favor of a higher one.

Ground Rent

Ground rent is the amount which a leaseholder needs to pay to the freeholder each year.

Home Buyer Report

A home buyer report is made by a lender after a mortgage valuation has been done and before the full survey takes place in order to give the borrower a complete understanding of the property they are thinking of buying.

Income Multipliers

An income multiplier is a type of calculation that a lender will use to calculate the amount a borrower can receive. The most common income multiplier is three times a single income or two and a half times joint income. The lender will choose the one that yields the higher figure. Lenders are more flexible if your LTV ratio is low.

Income Protection Insurance

With income protection insurance, your monthly payments will be covered in the case of illness, accident, or unemployment.

Intermediary

An intermediary is a mediator who finds the best mortgage for you, and they also arrange the mortgage for you on your behalf.

Land Registry Fee

A land registry fee is paid when you want to register your ownership of a property or when you want to change the registered title of a property.

Leasehold

Unlike freehold in which a property is owned, leasehold is when a property is owned, but the land that it is built on is not owned by the leaseholder. Their control of the property is only for a set number of years.

Licensed Conveyancer

A licensed conveyancer is like a solicitor in that they specialize in the legalities of buying and selling property.

Local Authority Search

A local authority search is made by the solicitor of the people that plan to buy your property. They check to make sure there are no planned developments on the property such as roads or buildings. They will check for any planning permissions or enforcement notices posted on your property.

LTV

LTV, or loan to value, is the percentage derived from dividing the value of your property by the amount of your mortgage. A low LTV is much less risky for lenders than a 100% LTV.

Loan Consolidation

Loan consolidation happens when a loan is taken out to repay another loan with a higher interest rate or to repay a number of high interest debts. Loan consolidation is often achieved through remortgaging.

MIG

A MIG, or mortgage indemnity guarantee, is insurance one takes out to cover their lender in the case that their property is repossessed, and the lender is unable to get their money back. A MIG is paid for upon completion of a mortgage.

MIRAS

MIRAS, or mortgage interest relief at source, was a tax relief given to those with mortgages, but this relief was abolished by the government in April of 2000.

Mortgage

A mortgage is a loan that allows someone to buy a property. The property itself is the security for the loan.

Mortgagee

The mortgagee is the company or organization that finances your mortgage.

Mortgagor

The mortgagor is the person taking out the mortgage to buy a property.

MPPI

MPPI, or mortgage payment protection insurance, is insurance one takes out in the case of an accident, an illness, or involuntary unemployment that would render them incapable of making their monthly mortgage payment.

MRP

MRP, or mortgage repayment protection, is insurance taken out through your lender during the term of your loan.

Negative Equity

Negative equity occurs when the money you owe to your mortgage lender is greater than the value of your property. People find themselves in negative equity situations when they take out 100% LTV mortgages.

Overpayment

Overpayment happens when you pay more than the regular monthly payment on your mortgage so that the mortgage is repaid before the end of the mortgage term. With overpayments, you can save money on interest, but you may also be charged an early redemption penalty.Payment HolidayA payment holiday is a period during which you make no mortgagee payments. This is normally available with flexible mortgages only.

PEP

A PEP, or personal equity plan, allows you to own shares or unit trusts without paying any taxes.

Personal Pension

A personal pension provides for your financial needs after retirement. You make structured payments into your pension savings during your working years. Often, some of this money may be taken out to pay off your mortgage liabilities.

Portability

Portability is a term used to describe a mortgage that can be transferred between properties when you move from one house to another.

Redemption

Redemption is when you pay off your mortgage, when you remortgage, or when you move to a new house.

Remittance Fee

A remittance fee is charged by a lender for sending the amount of a mortgage to your solicitor.

Remortgage

A remortgage is a loan taken out from a new lender or a loan renegotiated with your existing lender to pay off your existing mortgage. This is done to decrease the interest rate you are paying or to raise extra capital.

Repayment Mortgages

A repayment mortgage is when part of your monthly payment goes toward the interest and another part of the payment goes toward the principal. This is also known as a capital and interest mortgage. If payments are made regularly, the entire sum of the loan will be repaid by the end of the term.

Retention

Retention is the amount that your lender keeps pending until certain conditions of your mortgage are met.

Repossession

Repossession is a legal process by which your mortgaged property comes under the control of your lender due to incomplete repayment. Your property may then be sold at public auction.

Right to Buy

Right to buy means that you are legally able to purchase the property at a discounted rate if you have been a tenant for a long enough period of time.

Sealing Fee

A sealing fee is an amount charged by your lender when you repay your mortgage.

Self Certification of Income

Self certification of income means that you confirm how much you earn, and the lender does not need proof of your income from a third party. Self Certification is useful for self employed people or contract workers.

Shared Ownership

Shared ownership is a scheme devised by housing associations that requires you to pay mortgage payments on the part of a property that you own while you also make monthly rent payments on the portion of the property owned by the building association.

Solicitors

Solicitors are the people who give legal advice and carry out all the legal work for mortgage and remortgage transactions.Stamp Duty Stamp duty is a tax paid to the government on the purchase of a property.

SVR

The SVR, or standard variable rate, is the base rate of the lender. It is subject to change at any time depending on the lender. The SVR will fluctuate based on the Bank of England Base Rate.

Structural Survey

A structural survey is the thorough inspection of a property carried out by a professional surveyor.

Tenure

Tenure means the type of rights a person has over a property or the land it stands on. Tenure could be freehold or leasehold, for example.

Term

The term of a mortgage is the number of years over which you plan to pay your mortgage off.

Tie-in Period

A tie-in period is an amount of time for which you are bound to a lender. Tie-in periods often exist with special mortgage deals like fixed, capped, or discounted rates. If you move your mortgage to a different lender during this period, you are subject to an early redemption fee.

Title Deeds

A title deed is a legal document that validates the ownership of your property. A title deed proves your true and legal right to your property.

Transfer Deed

A transfer deed is a legal deed used for transferring the ownership of your property to a buyer.

Unencumbered

The term unencumbered means that you own your property outright with no mortgages or loans against it.

Valuation

A property valuation is a survey conducted on a property by a qualified surveyor in order to assess the value of the property. This valuation is done on behalf of your lender so that they are able to confirm the value of your property.

Variable Rate

A variable rate means that your interest rate may change from month to month thereby causing your payments to fluctuate monthly.

Vendor

A vendor is the person from whom you purchase a property.

How to Become a Professional Artist - 1

2010-03-24T19:04:00.001-07:00

Many experts believe new artists should do the following:

1) Apply for grants and other funding to support the work

2) Display the work in larger studios and galleries often to get exposure

3) Network with other artists to find out where to exhibit and get referrals

For information on grants for artists', you may contact the National Endowment for the Arts, 1100 Pennsylvania Ave., N.W. Washington, D.C. 20506

Are you interested in starting a business?

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How to Become a Professional Artist - 1

2010-03-24T01:49:00.001-07:00

Many experts believe new artists should do the following:

1) Apply for grants and other funding to support the work

2) Display the work in larger studios and galleries often to get exposure

3) Network with other artists to find out where to exhibit and get referrals

For information on grants for artists', you may contact the National Endowment for the Arts, 1100 Pennsylvania Ave., N.W. Washington, D.C. 20506

Are you interested in starting a business?

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The Importance Of Investing Money For A Rainy Day

2010-03-23T17:22:00.001-07:00

Tim told me that he tries to save as much money as he can per month and normally manages to save at least £100. When he has a £1000 saved in the bank, he then invests the money into a bond.

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Finding Small Business Grants

2010-03-22T15:21:00.001-07:00

Poor financing is the number two reason small businesses fail, falling right behind poor management. Sufficient funding is paramount to the success of small businesses, and small business grants can be the answer to the problem. If business owners have the necessary knowledge about how to find and properly request grants, they have a better shot at creating a successful business that will be open longer and prosper.

There are over 300 different grants and loans available for small businesses that are just starting out. The grants range from $25,000 up to $1,000,000 depending on the size and projected success rate of the business. There are also grants available to help small businesses grow or expand. Grants are not the same as loans because they do not have to be repaid. A grant is considered free money, as well as an investment to promote the success of small businesses and the U.S. economy. Money for grants comes from income taxes. Obtaining a small business grant does not require credit checks or deposits, even if the owners have experienced bankruptcy in the past.

There are a number of helpful websites that send small businesses government grant packages for free, excluding the cost of shipping. These packages include information on how to find grants, how to prepare a grant request, and how to apply for grants pertaining to a specific business. Some of the providers are Government Funding Solutions, Grant Master, and Grant Wizard.

It is important to be familiar with the Small Business Administration rules for receiving grants before beginning the process of obtaining one. Although the SBA does not provide grants to small businesses, they do provide helpful suggestions and resources on how to find grants.

In order to qualify for a small business grant, individuals must first become familiar with the 13 CFR 143 document that lists all of the requirements to be eligible for a grant. This document includes information on the pre-award and post-award periods and defines all aspects of applying for a grant and states who is eligible. The CFR is the primary source of rules and regulations for small business grants and must be read before starting the grant writing process.

After reviewing the requirements, prospective business owners must write a grant request. There are professionals who will write a grant proposal or the individuals may complete it themselves. The Catalog of Federal Domestic Assistance is a helpful site that links individuals to resources about federal grants for small businesses. Afterschool.gov gives helpful tips on how to write a small business grant and, although it is geared toward grants for after school programs, includes helpful information for grant writing in general.

Additionally, there are many well-established government and private organizations that provide grants to small businesses. The Department of Justices Ten Grant document gives access to grant opportunities for those conducting research in support of law enforcement. The Department of Labors Employment and Training Administration has several grant opportunities for small business owners. They offer about $125 million to businesses that are based in a community setting with special attention to training programs. The Department of Transportation is another organization that offers small business grants. They offer grants to any business willing to help resolve the growing problems with the federal-aid highway program. The Department of Education has a program called e-GRANTS that locates electronic grants online. They have a detailed list of grants available and the necessary applications to fill out. There are a variety of grants available for different groups, all of which have detailed descriptions and contact information. Other organizations that provide small business grants include the EPA, the National Cancer Institute, NOAA, the National Endowment for the Humanities, and the U.S. Department of Health and Human Services.

Road-Test All Telephone Sales Applicants by Telephone

2010-03-18T08:53:00.001-07:00

You might think selling by phone is a challenge.

But the selling part, if not easy, is manageable, if you know what you're doing and your have hammered out your value proposition and a great script.

How come?

Adding to their woes was a fundamental error. When they advertised for telephone sales reps, they sabotaged their chances of hiring the best folks, efficiently, by appending these words:

NO PHONE CALLS, PLEASE!

Telephone sales job applicants need to be put to a telephone test.

In a future article I'll discuss the crucial paces though which we need to put them before giving them further consideration.

By screening applicants better, especially by phone, we can diminish those costly turnover numbers I referred to above, bringing down our overhead to a manageable
range.

Selling Your Life Insurance (Viaticals and Life Settlements)

2010-03-16T23:49:00.001-07:00

Selling your life insurance is an option you might consider if you're in a difficult financial situation for which you don't see a close end. A terminal illness or old age could cause you to think twice about paying those hefty premiums at this stage of your life. Selling your life insurance carries with it complex implications and substantial risks, so it is important that you educate yourself regarding the big picture. If you're interested in selling your life insurance, this is a good starting point to obtain some basic information.

Basics: Vocabulary

If you've already done any research on selling your life insurance, chances are good that you've come across two main terms: viaticals and life settlements. Both refer to the selling of your life insurance to a third party. So what's the difference? "Viatical" is typically used to refer to the transaction involving a chronically or terminally ill insured, while a "life settlement" is a transaction involving a senior (generally over the age of 65) who is not terminally ill.

Even though you now know the difference, it does not mean that your state does. These terms might be used interchangeably, or your state might use one of them to refer to both transactions. For example, your state could use "Viatical Settlement" to refer to any type of transaction regarding selling your insurance. Be aware that this kind of ambiguity may exist in relation to the vocabulary used in the sale of your life insurance.

How it Works

The owner of the life insurance policy will sell it for a percentage of the death benefit a lump sum to a third party and, in exchange, receives an often substantial lump sum payment. The third party then becomes the new owner and/or beneficiary of the policy and pays all of the future premiums and eventually collects the death benefit when the insured passes away.

Those considering selling their life insurance may either directly approach a viatical company or settlement firm, or they may choose to work with a broker. The broker will act as an intermediary and present the information to several different companies/firms in an effort to find the highest price for the sale.

The settlement firms buy the insurance on behalf of investors. In this situation, the investors become the owners and beneficiaries, and the settlement firm pays the premium until the insured dies. The firm then collects the death benefit and either pays its investors a percentage of the annual return or repackages the policy for sale to another party.

Take comfort in know that the process of selling one's life insurance is typically very confidential. Most viatical companies and settlement firms understand the discretion necessary to make the process run smoothly and easily. However, a company may act disrespectfully and become borderline intrusive by trying to keep track of the insured's condition. For this reason, it is important to work with a respectful, experienced organization.

Who Considers Selling

Those with serious, life-threatening illnesses are most likely to consider selling their life insurance to provide cash for various expenses, such as mounting medical bills. For those who are not terminally ill, selling the life insurance might be a good idea for a number of reasons. If the owner's beneficiary has died or if the owner can't afford to keep paying the premiums, it would appear that they no longer have sufficient use for the life insurance. Seniors around retirement age may also consider selling their life insurance, even if they are free of debt, in order to receive a lump sum of money with which they may do whatever they please.

Keep in mind that different companies may have different eligibility requirements to be able to sell your life insurance policy.

Advantages to Selling Your Life Insurance

It might be easy to see some of these benefits, but others are a little less obvious.

You'll receive a lump sum cash payment right now. As mentioned above, this is especially useful to the terminally ill who have mounting medical bills.You will receive more by selling your life insurance than you would if you simply surrendered it to the insurance company. It is possible for an insured person who is 65 or older or who is terminally ill to sell a policy with little or no cash value for a $100,000.00 or much more.You won't have to pay any more insurance premiums. If your financial situation is becoming strained with no end in sight, eliminating premiums is a way to alleviate the burden.You don't have to repay the money, like you do when you borrow against your insurance policy.Even though your life insurance benefits won't be available once you die, you can still leave money to a certain person or organization - it will just come from the money that is leftover after using the funds from selling your policy. So, selling your life insurance does not

mean that you're definitely robbing your beneficiaries of their gift.

In some cases, the money you receive is tax-free.There are no regulations or restrictions on how you make use of the money you receive. You may spend as much of it or as little of it as you wish, however you please.

Risks of Selling Your Life Insurance

Understanding the risks associated with selling your life insurance will help you make an informed decision. Be sure to consult a financial advisor or tax attorney to make sure you understand the implications of the sale.

You might lose your eligibility for some public assistance benefits, especially those based on your income and assets (such as food stamps, welfare, Medicaid and some Social Security benefits).There could be tax issues. Selling the policy will

result in a tax bill if the settlement amount exceeds your cost basis.

With improved medical care, the ill person may live longer than expected.You might face unhappy heirs. This might not be a problem for you, but it could lead to a long road of (possibly legal) complications and battles. Some settlement actually companies require the beneficiaries to also sign off on any sale, which could be good or bad, depending on whether or not you're dealing with a cooperative beneficiary.

Other Options

If you come to the conclusion that selling your life insurance policy is not for you, there are other options (though none that would provide you with such a large lump sum). An insurance agent should be able to help give you more information on some of these ideas.

Borrow against your insurance policyCash out the policy if it has surrender valueLook into accelerated benefits or living benefitsBorrow money (from family or friends perhaps) and use the life insurance policy as collateral

If you believe that selling your life insurance policy is the right decision for you, make sure you deal with a dependable, experienced broker or settlement company to ensure that you get the best service and results from your transaction.

Glossary of Mortgage Terms

2010-03-15T22:21:00.001-07:00

Additional Security Fee

Administration Fee

Adverse Credit

Agricultural Restriction

An agricultural restriction is a rule which will restrict you from holding a property if your occupation is in any way related to agriculture.

Annual Percentage Rate

Apportionment

Arrears

Arrangement Fee

Assignment

ASU

ASU is Accident, Sickness, and Unemployment insurance which covers your mortgage payments in case of an accident, a sickness, or involuntary unemployment.

Auction

Authority to Inspect the Register

An authority to inspect the register document is a document fro the legal or registered owner of a property allowing the solicitor of the purchaser to get information concerning the property.

Banker Draft

Base Rate Tracker

Booking Fee

Bridging Loan

Broker Fee

Building Societies Commission

The Building Societies Commission is a regulatory organization for Building Societies. This commission reports to the Treasury Ministers.

Building Society

Buy-to-Let

Capital and Interest

Capital Raising

Capital raising generally means remortgaging for a higher amount than you need to pay off your existing mortgage in order to use the excess money for other personal financial uses.

Capped Rate

Cash Back

Cash back is the amount you receive when you take out a mortgage, the amount may be fixed or a percentage of your mortgage amount.

CCJ

Centralized Lender

Charge

A charge is any interest on a mortgage to which a freehold or leasehold property can be held.

Charge Certificate

Chattels

CML

Council of Mortgage Lenders

Completion

Completion is a term that explains that you have become the owner of your house after finishing the formalities of the sale and the purchase of the property.

Conditional Insurance

Contract

Conveyance

Conveyancing

Conveyancing is the legal process by which the buying and the selling of a property take place.

Covenant

A covenant is an assurance given in a deed.Credit ScoringCredit scoring is the procedure by which a lender evaluates your paying capacity before offering a loan or mortgage.

Credit Search

A credit search is done by a lender and a credit bureau to search your records for CCJs and other indicators of bad credit.

Debt Consolidation

Deed

A deed is a legal document that denotes the owner of a given property. You can transfer a title to both freehold and leasehold with a deed.

Deposit

A deposit is the amount of money you put down toward buying a property.

Disbursements

Disbursements are any amount you pay to solicitors against land registry fees, searches, faxes etc.

Discounted Rate

Early Redemption Penalty

Easement

Easement is the right held by one property owner to make use of the land of another for a limited purpose, like a right of passage.

Endowment Mortgage

Endowment

There are different types of endowments, but here an endowment is a life insurance policy that will pay off your interest only mortgage.

Equity

Equity is the amount of value in your home. It is the value of your home less the amount left to be repaid on your mortgage.

Equity Release

Exchange of Contracts

Existing Liabilities

Existing liabilities are all financial commitments outside of your mortgage. Existing liabilities may include bank loans, credit card debt, maintenance payments, etc.

First Time Buyers (FTB or FTP)

A first time buyer is one who has never owned property before.

Fixed Rate

Flexible Scheme

Fixture

A fixture is an item attached to your property, and therefore it is legally part of the property.

Freehold

Further Advance

Guarantor

A guarantor is a person who guarantees the lender that the borrower is eligible for a loan or mortgage. If the borrower fails to make payments, the guarantor will make them.

Gazumping

Gazumping occurs when a seller agrees to sell a property to one person, and they proceed to decline that offer in favor of a higher one.

Ground Rent

Ground rent is the amount which a leaseholder needs to pay to the freeholder each year.

Home Buyer Report

Income Multipliers

Income Protection Insurance

With income protection insurance, your monthly payments will be covered in the case of illness, accident, or unemployment.

Intermediary

An intermediary is a mediator who finds the best mortgage for you, and they also arrange the mortgage for you on your behalf.

Land Registry Fee

A land registry fee is paid when you want to register your ownership of a property or when you want to change the registered title of a property.

Leasehold

Licensed Conveyancer

A licensed conveyancer is like a solicitor in that they specialize in the legalities of buying and selling property.

Local Authority Search

LTV

LTV, or loan to value, is the percentage derived from dividing the value of your property by the amount of your mortgage. A low LTV is much less risky for lenders than a 100% LTV.

Loan Consolidation

MIG

MIRAS

MIRAS, or mortgage interest relief at source, was a tax relief given to those with mortgages, but this relief was abolished by the government in April of 2000.

Mortgage

A mortgage is a loan that allows someone to buy a property. The property itself is the security for the loan.

Mortgagee

The mortgagee is the company or organization that finances your mortgage.

Mortgagor

The mortgagor is the person taking out the mortgage to buy a property.

MPPI

MRP

MRP, or mortgage repayment protection, is insurance taken out through your lender during the term of your loan.

Negative Equity

Overpayment

PEP

A PEP, or personal equity plan, allows you to own shares or unit trusts without paying any taxes.

Personal Pension

Portability

Portability is a term used to describe a mortgage that can be transferred between properties when you move from one house to another.

Redemption

Redemption is when you pay off your mortgage, when you remortgage, or when you move to a new house.

Remittance Fee

A remittance fee is charged by a lender for sending the amount of a mortgage to your solicitor.

Remortgage

Repayment Mortgages

Retention

Retention is the amount that your lender keeps pending until certain conditions of your mortgage are met.

Repossession

Repossession is a legal process by which your mortgaged property comes under the control of your lender due to incomplete repayment. Your property may then be sold at public auction.

Right to Buy

Right to buy means that you are legally able to purchase the property at a discounted rate if you have been a tenant for a long enough period of time.

Sealing Fee

A sealing fee is an amount charged by your lender when you repay your mortgage.

Self Certification of Income

Shared Ownership

Solicitors

SVR

The SVR, or standard variable rate, is the base rate of the lender. It is subject to change at any time depending on the lender. The SVR will fluctuate based on the Bank of England Base Rate.

Structural Survey

A structural survey is the thorough inspection of a property carried out by a professional surveyor.

Tenure

Tenure means the type of rights a person has over a property or the land it stands on. Tenure could be freehold or leasehold, for example.

Term

The term of a mortgage is the number of years over which you plan to pay your mortgage off.

Tie-in Period

Title Deeds

A title deed is a legal document that validates the ownership of your property. A title deed proves your true and legal right to your property.

Transfer Deed

A transfer deed is a legal deed used for transferring the ownership of your property to a buyer.

Unencumbered

The term unencumbered means that you own your property outright with no mortgages or loans against it.

Valuation

Variable Rate

A variable rate means that your interest rate may change from month to month thereby causing your payments to fluctuate monthly.

Vendor

A vendor is the person from whom you purchase a property.

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Why Life Insurance?

2010-03-14T18:53:00.001-07:00

Insurance is seen as a necessity to ensure a continuation of your family income, should the income provider pass away or become disabled.

You might think that insurance would be less important as the value of your investments and other assets grow. In fact, very often the opposite happens.

You build an increasing tax liability as your wealth increases or as you build your assets. Insurance can become an important vehicle for reducing your income tax burden.

The primary purpose of life insurance is to provide for dependents on death of a primary wage earner, but life insurance can also serve as an outstanding tool for transferring wealth to the next generation.

There are a variety of life insurance products specially structured to provide targeted benefits, including:

*Term endowment insurance

*Whole life insurance

*Children's plan

*Pension plan

*Unit linked insurance plans

Insurance can also be used effectively as an investment vehicle. Proper planning can help minimize the drain taxation can have on your business or estate. Planning means you choose how your assets get distributed. It involves a step-by-step approach and ensures that you receive only expert advice. The result could be a plan customized just for you.

You can use a tax-advantaged life insurance strategy to build a fund that grows on a tax-sheltered basis. You can select the investments and decide how much add when to invest. At a time like retirement, this tax-sheltered fund can be useful to provide a tax-free income. On death, the insurance proceeds and the investment funds are paid to your beneficiary, tax-free. Using insurance can be a cost-effective way of creating a legacy. No wonder insurance is viewed as an important investment for retirees and those approaching retirement.

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The Most Successful Investors May Not Be Who You Think They Are!

2010-03-13T16:53:00.001-08:00

Source: 2007 NACUBO Endowment Study

What Makes the Large Endowment Funds Different?

Multi-Asset Diversification

Timber - Currencies - Private Equities - Venture Capital - Commodities - Absolute Return Strategies

Introducing the Gradient Endowment Series Portfolios

Real Estate - Fixed Income - International Stocks - U.S. Stocks - Private Equity - Hedge Strategies - Commodities - Hard Assets

Why ETF's Make Sense Often times, ETF's allow us to take advantage of:

Lower Expense Ratios - Tax Efficiency - Diversification - Intraday Trading - Transparency

Reprinted with permission of Gradient Investment Group

ETF Definition Source: www.investopedia

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Endowment Plans

2010-03-12T16:20:00.001-08:00

An endowment policy is a life assurance agreement proposed to pay a lump sum after a particular term or on earlier death. Endowments can be cashed in early - known as surrendered - and will then be paid the surrender value which is decided by the insurance company depending on how long the policy has been running and how much has been paid in to it.

For the duration of unfavorable investment circumstances, the encashment worth or surrender worth may be trim down by a 'Market Value Adjuster' to allow for the require to cash in units at a time when investment circumstances are not perfect. This means that the investor would take delivery of the surrender value less the market worth adjuster.

o An endowment policy is a mixture of insurance and investment: The life of the individual taking the policy is insured for a definite sum. This life cover is referred to as the sum assured. A definite part of the premium gets billed towards this sum assured. A quantity of portion of the premium is allocated towards the administrative operating cost of the insurance company selling the policy. The left over portion of the premium gets invested.

o An endowment policy might announce a bonus each year: The money that is invested produce a definite return each year. This return may be affirmed as a bonus. The bonus is characteristically generated as a definite proportion of sum assured or life cover as it is commonly recognized.

o The bonus affirmed is not to be paid right away: Like is the case with a stock dividend or a mutual fund dividend which is to be paid without delay after it is declared, the bonus affirmed build up and is to be paid only when the policy matures or in case the policy holder dies.

o The bonus declared does not multiple it, only accumulates

o Since the bonus declared does not compound returns are low

Mortgage Regulation

2010-03-11T16:05:00.001-08:00

The Financial Services Authority is responsible for the regulation of the majority of mortgage sales.

This is still relatively new and we have planned the effectiveness review in stages to identify trends and measure progress against the intended outcomes over time. Loan advisers have had a relatively benign economic climate in which to adapt to mortgage regulation.

The Financial Services Authority (FSA) is an independent regulator set up by the Government to look after the financial services industry and protect customers. This was introduced on 31st October 2004 and replaces the previously known Mortgage Code.

This is a good moment to ask whether mortgage regulation is working and to address any shortfalls. For example Northern Rock, Equitable Life, The Pension Crisis, The Endowment Crisis, shares short selling etc.

. FSA regulating headache"

The one FSA change that will put considerable strain on this process is the need to provide a "durable" (printed or emailed) personalised Key Facts Illustration (KFI) for telephone based mortgage enquiries, offer stage proposals, product switches and party additions or removals.

Once you have spoken to an adviser, they will send you a Key Features Illustration (KFI) which fully complies with the requirements of the FSA Regulator.

Letting may not be included. However if you apply for a loan on a "buy to let" property, a commercial property or a property less than 40% of which will be used as your prime residence, the Society will offer you the same level of service as other borrowers but your mortgage will NOT be covered by mortgage regulation and you will NOT enjoy any of the protection which it offers.

AMI is a broker body to help them with the FSA. It is AMI's objective to play a critical but constructive role within the mortgage regulation process - offering insights from the "front line" of the intermediary mortgage market.

Also The CML continues to play a vital role in consulting and advising the FSA on its approach to financial regulation.

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Government Grant Writing for Beginners

2010-03-10T16:02:00.001-08:00

'Grant writing' as the name suggests is the writing of a grant in order to raise grant or funds for one's organization or project. Many a non-profit or individual organizations rely on these grants to run their work. There are several types of grants and the reasons for taking them. Such reasons depend on the need of the organization seeking the grant.

Reasons and Types of funds:

Some organizations seek funds to operate their organization successfully. This sort of fund is known as operating money. The operating fund can be granted by a foundation
grant, a corporate grant, a direct mail campaign, or interest from an endowment.

Then there are funds for special projects, which include undertaking a new project, expansion of existing project/s, etc. The government, corporations, foundations etc. are ready to grant money for this cause. Besides this there are capacity seeking funds meant to enhance staff, financial ability of a company; capacity funds which should be sought for in cases of renovations of buildings, making a new building etc. Here again money can be taken from corporations, government agencies, foundations and can also be raised through a significant gift campaign. Endowments are slightly different kinds of funds.

They are those grants which are often given as long term gifts to certain organizations.

Government a reliable and evergreen source:

Government is the best source to look for grants for any purpose. Statistics reveal that government provides more than $ 350 billion grants annually. Government provides funds in various forms. For instance there are direct grants meant for nonprofit or individual organizations. There is immense competition to take the 'direct grants'. Many organizations apply every year through their proposals and letters. Similar to this there are 'competitive grants'. Organizations compete for a single share of this grant. The 'pass through' grants are relatively less competitive since they are confined to any state. The money for pass through grants is given by the federal government to the individual states for distribution. The organizations seeking grants can apply for it in the state agency. The government also provides 'project funds' for a specified period of time.
The entire information can be collected via CDFA i.e. the Catalog of Federal Domestic Assistance which splits government grants into 20 primary categories. It includes almost all the significant details from the name of the grant distributing agency to the eligibility plus evaluation criterion and the documentation required. CDFA also provides with a list of its past funded organizations and their respective objectives.

The Writing Matters:

At the end of the day what matters is the kind of proposal a loan seeking organization sends to the government or any funding agency. The proposal should be such that it clearly brings out the needs and objectives of the organization. An effective proposal acts as a mirror of the organization's desires and the goals that it seeks to achieve. The more impressive a proposal is the greater are the chances of getting a good amount of grant. So while writing a grant proposal some vital points should be kept in mind.

There are two types of letters in this case- the letter of intent, which is a brief summary of the project and the aims desired to be achieved through it. The needs of the grant seeker must be specifically highlighted along with the manner in which these funds will fulfill these needs. Second is the letter of proposal, which delineates the entire project and the requirements, which are to be met by the funds. This letter how so ever long should not be devoid of a cover letter, a proposal summary, nearly ten pages of proposal text, the objectives and goals decided and appendices providing more details of the project.

Any agency or government granting the loan has particular criteria to select the organization and the amount of grant to be given like interviews, observation, past record and the like. However a proposal can be too helpful in providing an impetus to these later activities.

If you are looking forward to a grant then don't hesitate in doing to slog for a little hard work done now will bear incredible benefits in the future...

Buying & Selling Property - Glossary of Terms

2010-03-09T15:56:00.001-08:00

Bridging Loan - a bridging loan is a short term loan taken out to bridge the gap between buying a new home and selling an existing property. The loan bridges the gap between the sale of the two homes in the housing chain and eases the completion of the purchase.

Chain - the property chain refers to the sequence of sales that must take place before an individual property transaction can take place. Since most people selling their home will also be buying a new property there can be a chain of buyers and sellers each dependent on each other. If one buyer or seller drops out the whole chain may collapse.

Completion - completion in property sales refers to the point when contracts have been exchanged and ownership of the property has been legally transferred.

Conveyancing - conveyancing is the legal process that must be completed for the transfer of ownership of the property to take place. Conveyancing work is usually performed by solicitors.

Endowment Mortgage - an endowment mortgage is a type of mortgage where the property buyer makes monthly payments into a life assurance (endowment) policy. At the end of the loan period the mortgage is paid off in one lump sum.

Energy Performance Certificate (EPC) - the Energy Performance Certificate is a document showing the current energy rating of a property as well as suggested ways in which the energy rating could be improved. The EPC is a compulsory part of the Home Information Pack.

Estate Agent - a professional who acts on behalf of a person selling their home to find a buyer for the property. The estate agency service includes valuing the home, advertising and arranging viewings.

Fixed Fee Estate Agent - fixed fee estate agents a new type of property agent that offer to sell homes for a fixed fee. An alternative to traditional estate agents that set their fees at a percentage of the value of the home being sold.

Gazumping - a common practice in property sales where the seller of the home accepts one offer to buy the property but later rejects it to accept a higher offer by another buyer.

Home Information Pack (HIP) - recently made compulsory in the UK the Home Information Pack contains a series of documents relating to a property being sold. The HIP is designed to assist potential home buyers by making important property information available at an early stage.

Land Registry - the land registry is a government office that stores records of land ownership. Updates to the registry are typically performed by solicitors who register new owners of a home.

Negative Equity - a situation where the mortgage being paid on a property is of a higher amount than the actual value of the home. This means that the home owner has paid or will pay back more than what the property is worth.

Repayment Mortgage - a type of mortgage where monthly repayments cover both interest and capital so that the amount outstanding will gradually decrease until the mortgage is fully repaid at the end of the agreed term.

Stamp Duty - a government tax charged when a property is sold. The actual rate of taxation will vary according to the value of the property.

Title Deeds - the title deeds are documents showing the past and present ownership of a property.

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Mortgage Terms & Definitions

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Definitions of terms commonly associated with mortgages and property ownership in the UK.

Added to Loan

The costs borrowers incur when arranging a mortgage. Usually refers to expenses such as arrangement and administrative fees.

Administration Fee

A fee charged by some mortgage lenders to cover the costs of setting up the mortgage.

Annual Percentage Rate (APR)

The yearly rate charged on a loan required by law to be shown to borrowers. The APR includes the interest rate and other fees charged on the mortgage.

Arrears

Borrowers are said to be in arrears when they have either not made their mortgage repayments in time or if they have not paid the correct amount.

Base Rate

Set by the Bank of England the base rate is the lowest percentage amount of interest lenders can charge. Interest rates on loans are set at an amount over the base rate decided according to the level of risk involved.

Capital and Interest Mortgage

A common type of mortgage where the monthly repayment made by the borrower includes a repayment of both the capital borrowed and the interest charged.

Capped Rate Mortgages

A combination of a fixed rate and a variable rate mortgage. In a capped rate mortgage although the interest rate can change it will never rise above a certain level.

Cash Back Mortgage

In a cash back mortgage the lender will pay 'back' to the borrower a percentage of the amount borrowed. This lump sum payment is made on completion of the mortgage.

Conveyancing

Conveyancing is the legal process that must be completed for the transfer of ownership of the property to take place. Conveyancing work is usually performed by solicitors.
Credit Reference Agency

An organisation that collates information on the borrowing records of people in the UK. This information is used by lenders when setting up credit agreements.

Deferred Interest Mortgage

A type of mortgage in which the full rate of interest is not paid in the first few years of the agreement. The deferred interest is added to the amount borrowed and is repaid over the rest of the mortgage term.

Endowment Mortgage

An endowment mortgage is a type of mortgage where the property buyer makes two monthly payments; one into a life assurance (endowment) policy and the other to the mortgage lender to cover interest payments. At the end of the loan period the mortgage is paid off in one lump sum.

Equity

The difference between the value of a property and the amount remaining to be paid on the loan (mortgage) secured against it.

Exchange of Contracts

One of the final stages in the transfer of ownership of a property. In the exchange of contracts the buyer and seller both sign a contract committing to completing the sale.

Fixed Rate Mortgages

In a fixed rate mortgage the interest charged is set for a certain period of time and does not vary with changes to the base rate.

Land Registry

The Land Registry is the government department responsible for maintaining and updating the ownership records of all properties in England and Wales.

Local Search

Part of the conveyancing process, local search refers to an application to the local authority for information relating to a property.

Negative Equity

Negative Equity is a situation where mortgage repayments on a property are for a higher amount than the actual value of the home. This means that the home owner has paid or will pay back more than what the property is worth.

Re-mortgage

A term for when a home owner replaces their existing mortgage with a new mortgage agreement. Remortgaging is common for people looking for better rates of interest, lower repayments or a different type of mortgage.

Stamp Duty

A tax on property transactions paid by the buyer of the home.

Variable Rate Mortgage

The most common type of mortgage agreement where the lender sets an interest rate that will change according to variations in the base rate.

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