The Society of Collision Repair Specialists (SCRS) is encouraging members to schedule time at the 2019 SEMA Show with Virginia Asset Management (VAM) representatives, who are serving as advisors for SCRS’s new 401(k) Multiple Employer Plan (MEP).
During Tuesday and Wednesday of the SEMA Show, SCRS will host in-person meetings with VAM advisors at SCRS booth no. 11173 in the North Hall. To see real-time availability in the booth and schedule a 30-minute meeting, click here.
Scott Broaddus is a partner at VAM and serves as investment advisor for the SCRS 401(k) plan. He is both a Certified Financial Planner Practitioner as well as an Accredited Investment Fiduciary and has been hired by SCRS to provide education and advice to member businesses. Broaddus will be joined by Coley Eckenrode, wealth manager at VAM, who will also be available to meet with member businesses interested in learning more about the SCRS 401 (k) plan while at SEMA.
“Less than 20% of small businesses are able to offer retirement benefits to their employees, and SCRS is determined to change that for the collision repair industry,” said Brett Bailey, chairman of SCRS. “We want to reduce costs and take the burdens off our members’ shoulders, but we also see this as an important means of retaining and attracting people to our industry. We’ve seen a lot of great success for early adopters, and hope show attendees take advantage of the opportunity.”
Broaddus will also be leading a Repairer Driven Education session Nov. 5 from 12:30 p.m. to 2:30 p.m. titled, “Be Your Own Berkshire (RD8).” The session will focus on how small businesses can learn from and model behavior after successful corporate business investors. For example, Warren Buffett is famous for using the profits from GEICO to diversify Berkshire Hathaway when another opportunity looks more attractive than internal re-investment. This session will ask attendees to think of their company in the same way when calculating internal vs. external return on investment or how to best allocate money earned in the business. For more details on this session, click here.