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To learn more about FICC's services or for a professional assessment of your existing compensation program, simply contact us today.

Contact FICC

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Phone: 800.873.0089
Fax: 901.684.7414

How We Work

Research and Analysis

Whether you are considering a new plan or simply reviewing your existing compensation programs, FICC can assist you with your evaluation. Based on your unique corporate and personal objectives, we’ll assess your needs for funding as it relates to cash flow, earnings, and future performance.

Plan Design

FICC plans are designed to align with your institution’s objectives, values and financial goals. We will provide you with an itemized assessment of each feature of the proposed plan and we’ll identify the ways you can maximize corporate and executive benefits and align your goals with industry and legislative trends. Along with the plan design, we’ll provide you with detailed information regarding security and regulatory issues.

Financial Strategies

FICC recognizes the importance of security to both the institution and plan participants. FICC conducts ongoing comparative analyses of funding alternatives to maximize investment performance. The financial strategies incorporated into each FICC plan are mindful of the interests and perspectives of the shareholders, the board, bank management, and the plan participant.

Plan Approval

Based on our initial assessment, FICC will prepare presentation materials for your Board or Executive Management Team. We will gladly conduct the presentation to discuss the proposed plan design as well answer questions and provide draft documents for review.

Plan Implementation

Every plan we create at FICC is unique, but we provide the same reliable service for every account. A dedicated team maintains contact with your financial institution throughout the enrollment process and we will do our best to make sure you understand every aspect of the compensation offerings your institution selects. As needed, we can also conduct orientation sessions with your designated attorney and accountant.

Plan Administration

Many of our competitors focus on the front-end sales of insurance and benefit products and fail to follow-through with long-term analysis and tracking. Therefore, when conditions change for an institution, there is no means of flagging a need for a change in the institution’s compensation plan. Only when a problem arises will an institution realize that the plan’s original assumptions are now faulty.

FICC revisits client plans annually to track performance. As part of these administration services, FICC provides:

Analysis of annual plan performance compared to original projections as well as detailed evaluations of:

  • Yield on insurance policies
  • Cost of funds
  • Increases in salaries
  • Performance of other bank sponsored plans
  • Evaluate current discount rates to market

Monthly, quarterly and annual cash surrender values on in-force insurance policies.

Projected cash surrender values on in-force insurance policies along with monthly adjusting journal entry to record projected income.

Analysis of the financial and industry performance of the specific insurance carriers associated with the plan.

Annual accrual schedules in aggregate and by individual participant.

Annual benefit information for participants.

FICC has made a special effort to design our plan administration to fit the needs of our clients. This package will provide the information needed by the bank and their board to make annual decisions regarding the future of the plan. The administration of the plan can be provided on a frequency determined by the banks need.