Finance

If you’re serious about doing the right thing with your money, we’re serious about helping you learn how to do it. No matter who you are, where you’ve been or where you’re headed, our advisors can guide you as you take new risks and set new goals.

At The Establishment OK, we get that people aren’t necessarily moving in a straight line. We offer no-cost financial education classes at our scenic Midtown space that are cultivated to help manage your monetary challenges. There’s no reason not to add one, two or all of our upcoming sessions to your schedule.

– MassMutual Oklahoma

Gateway Mortgage Group experienced record growth in 2018 and continues to build momentum. Despite layoffs within the industry, Gateway expanded its national footprint and plans for additional growth. Gateway remains in the top tier of mortgage origination and servicing providers.

Last year, Gateway funded more than 29,000 loans totaling $6.1 billion in mortgage loans – up 10 percent from 2017. Gateway’s servicing portfolio grew to $18.6 billion, and the company services 107,282 individual mortgage loans. Gateway also opened 40 new branches in 22 states and added more than 340 team members, bringing its total to 1,169.

– Gateway Mortgage Group

If you’re a young professional, it’s likely that retirement is the last thing on your mind. With so many unknown factors in a lifetime, it is vital to start saving early for retirement.

Here are a few tips and tricks to get started:

• Remember, your 401(k) contributions aren’t included in your gross income, therefore, you are being taxed on a smaller overall income.

• When considering a job offer, always be sure to see how the company handles matching contributions.

• Invest early. If you do, you can take more risks and get a bigger return.

Learn more with John Hancock.

– Ashley Ross, Jones PR

If you’re a business owner, maintaining positive cash flow and protecting confidential information might be things that keep you up at night.

Turns out, your bank can help you rest easy in ways that may surprise you. Here are three examples:

1. Simplify payroll – most banks offer direct deposit services so you can stop writing paper checks.

2. Detect fraud – ask your bank about security features related to activities like wire transfers and mobile/online banking.

3. Accelerate cash flow – a solid business banker will make recommendations to overcome your cash flow challenges. Be sure to choose a consultative banker.

– Leslie Bridges, Valley National Bank

Too often, business owners try to deduct every possible expense, but this can be counterproductive. It makes your business appear less profitable on paper, which could limit the amount of money you can borrow to help grow your business.

Instead, focus on non-cash deductions like depreciation and amortization, since lenders can add those amounts back into your debt service coverage ratio. One-time expenses, like relocation costs, can also be added back into your cash flow at the lender’s discretion.

Lastly, review your financials with your CPA to better understand your cash position and the trends of your business.

– Aaron Jimison, Valley National Bank

Did you know that business owners typically have only 24 hours to identify and return fraudulent bank account activity? Most don’t.

As criminals get savvier, business owners need to watch their accounts daily via online banking.

We’ve seen cases where a company’s email system is hacked, and criminals, posing as the CEO, request a wire transfer to the CFO. No one in the company questions the request, as it appears legitimate. Utilize dual control to initiate and confirm wire transactions.

Fraud can hit companies of any size. Talk to your banker about fraud prevention tools that can protect your business.

– David Ogburn, USAmeriBank