The Markets April 8, 2009

Utah Symphony&Opera Makes Salary, Benefits Cuts

The Utah Symphony&Opera is cutting its budget, including its 403(b) contributions.
Reported by

The symphony announced it will cut its operating budget by $1 million between now and 2010.

Salt Lake City’s Deseret News reports that, as part of the effort, US&O staff and administration will take a salary cut, and it has suspended its contributions to the 403(b) plan. In a statement, the organization said it is anticipating a shortfall by the end of this season, making cuts necessary, according to the news report.

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Melia Tourangeau, US&O’s president and chief executive officer, and music director Keith Lockhart will take a 10% pay cut for the rest of the 2008 to 2009 season. Additionally, the symphony musicians, who belong to the American Federation of Musicians Local 104, AFL-CIO, agreed to an 11.5% salary and benefit cut for this year, the newspaper said.

The musicians will also give up two weeks of pay, a week of vacation, and some personal days, according to the news report.

Products April 8, 2009

USA Tax Unveils the EliteRIA Producer System

USA Tax&Insurance Services (USA Tax) rolled out a system to help advisers sell managed portfolios and acquire assets under management, the company said.
Reported by

The EliteRIA Producer System is a division focused on providing qualified, independent investment adviser representatives (IARs) and registered investment advisers (RIAs) with proven processes for selling managed portfolios and acquiring assets under management, according to a news release. “This unique wealth management business system teaches producers how to become more comprehensive retirement advisers for even the most affluent individuals in their communities,” said Stephen Hand, CEO of USA Tax.

The system is a turnkey business model that provides a “complete roadmap” for marketing and selling managed portfolios and other insurance and financial products, USA Tax said. The system includes a seminar program and a start to finish process that guides producers all the way from meeting prospects to providing ongoing service.

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A Producer Orientation includes an overnight, all-expense-paid trip to Tampa, Florida, to view the operation and meet its developers, according to the release.

For more information, IRAs and RIAs can visit www.eliteriasystem.com or call 866.646.3677.

 

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