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Severe winter weather can lead to property damage, employee illness or injury, and possible business closures. Looking for ways to prepare your home? Read our Prepare Your Home For Winter Checklist.
The following winter weather preparedness checklist will help you identify the areas of your business that are most susceptible to winter hazards. To minimize damage and recover quicker following severe winter weather, it is a good idea to develop a plan of action for your business and staff.
Below you will find critical information and winter weather preparedness tools to assist in protecting your business and the most critical element of your business - your people.
READ: Tips to Manage Winter Weather Risks in the Workplace
Severe winter weather may range from a moderate snow in a short amount of time to a blizzard lasting for days. Some storms are regional and may affect several provinces, while others are more localized, depending upon geography and terrain. Common characteristics of winter storms are dangerously low temperatures, strong winds, ice, sleet, and freezing rain.
Winter storm watch - be alert, a storm is likely
Winter storm warning - take action, the storm is in or entering the area
Blizzard warning - snow and strong winds combined will produce blinding snow, near zero visibility, deep drifts, and life-threatening wind chill - seek refuge immediately!
Winter weather advisory - winter weather conditions are expected to cause significant inconveniences and may be hazardous, especially to motorists
Frost/freeze warning - below freezing temperatures are expected and may cause damage to plants, crops, or fruit trees
Too often, organizations overlook the potential danger of winter weather. Not only can snow and ice create slipping and other hazards for your employees, but they can lead to major property damage as well. In order to properly prepare for the winter season, organizations must take a proactive approach to managing severe weather risks.
Financial advising involves providing guidance and advice to individuals, families, or businesses to help them make informed decisions about their financial matters. This can include various aspects such as investment planning, retirement planning, tax planning, estate planning, and more. Financial advisors analyze their clients' financial situations, goals, and risk tolerance to create customized strategies that align with their objectives.
Financial planning is crucial for several reasons:
Goal Achievement: It helps individuals set and achieve financial goals, whether they are short-term, such as buying a home, or long-term, like funding a comfortable retirement.
Risk Management: Financial planning addresses risks by considering insurance, emergency funds, and other protective measures.
Budgeting and Saving: It promotes responsible money management through budgeting and saving, fostering financial stability.
Wealth Building: Effective financial planning can lead to wealth accumulation and the creation of a secure financial future.
Yes, financial advisors can help with debt management. They can assess your overall financial situation, create a budget, and develop strategies to pay down debt efficiently. They may also negotiate with creditors on your behalf, provide debt consolidation recommendations, and offer guidance on prioritizing and managing debt repayment.
The specific responsibilities of a financial advisor can vary, but generally, they:
The fees charged by financial advisors can vary widely based on factors such as the advisor's experience, the services provided, and the region.
Common fee structures include:
Hourly Fees: Advisors charge an hourly rate for their services.
Flat or Fixed Fees: A set fee is charged for specific services or a comprehensive financial plan.
Asset-based Fees: Fees are a percentage of the assets under management (AUM).
Commission-based Fees: Advisors earn commissions on financial products they sell.
Combination of Fees: Advisors may use a combination of the above fee structures.
It's important to discuss and clarify fee arrangements with a potential financial advisor before engaging in their services.