The state accounts for 12% of the population, but has outperformed that (percentage-wise) in almost ever economic metric. Coming out of the great recession, in the years 2012 to 2016, California accounted for 17% of the growth in the U.S.

Industries in California have also flexed their muscles. Tech, shipping, and entertainment have also turn the tables to recovery faster in California that elsewhere. We find numerous California companies living on the Fortune 500 list. Most would know Apple, Wells Fargo, and Hewlett-Packard. But cities like Los Angeles are quietly the home of engineering and constructions behemoths such as CBRE Group, Aecom, and Reliance Steel & Aluminum.

Among other Fortune 500 companies in the state are companies like McKesson, Oracle, Disney, Facebook, Qualcomm, Gap, Western Digital, Mattel, Schwab, and, well, a few dozen more.

On downside noted is that with more success, California has a greater downside if the economy reverses, but let’s be happy we’re on the right side of this economy for now! •

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Financially, what does this mean? We that remains to be tallied, but ESPN has already said the Rams value has gone from $1.45 billion to about $2.9 billion since the move. Yup, doubled.

The Los Angeles Times has published estimates that with the completion of the $2.6 billion stadium to be shared between the Rams and Chargers, a team like the Rams could bring in $330 million a year.

Of course that could go up or down, depending on lots of other factors, but if this past season is any indication, Los Angeles just might choose to rally round their long lost Ram team with a lot of dollars going into the team coffers! •

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January saw long lines outside new dispensaries, extended hours, and shortages. Weed business is definitely booming in the golden state.

The Marijuana Business Daily recently reported on some examples of retailers not just cruising. One retailer had been seeing about 150 customers a day (medicinal), only to see that jump to more than 300 a day in the new year.

Workers in the shops are working long hours trying to keep up with the demand. One retailer was quoted as saying they are hiring as fast as they can to help out. They are hiring for “every single position” in their business! •

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“Home sales will likely continue to struggle as we enter 2018, slowing the flow of agent fees,” told First Tuesday Journal, a top California real estate publication. “Historically low inventory for sale coupled with rapidly rising prices have discouraged potential home buyers.”

The publication also predicts the next rise in sales won’t likely be until 2019. That is, assuming residential construction can increase enough to boost turnover and inventory.

That being said, real estate agent Stephanie Vitacco of Keller Williams sees homes selling when priced at just the right spot. “The inventory in the San Fernando Valley is at one of the lowest levels I’ve seen in more than 30 years of selling. Houses are moving but the price point is tricky. Priced a tad too high and the house will sit. Priced correctly and there are multiple offers.”

Meanwhile, the California Association of Realtors reports that median prices in the state remain high. Median prices across the state averaged more than $540,000 (as of November 2017). Sales to list ratios, a measure of negotiation potential has been around 98.9%, meaning homes have been selling for just about listing price during the recent past.•

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Jeff established JDM in 2002 so that he could advise clients outside the sales culture of Wall Street. Prior to launching JDM, Jeff worked as a Financial Consultant and Certified Financial Manager at a leading global investment firm.

He earned his CFP® designation from the College for Financial Planning, a Master of Science in Financial Services from the Institute of Business and Finance, a Professional Designation in Personal Financial Planning from UCLA, and he has completed executive education at Harvard’s Kennedy School of Government in Investment Decisions and Behavioral Finance. Jeff has also served as a Certified Financial Educator with the Heartland Institute of Financial Education, is certified in Long Term Care, and has a California Life Insurance license.

Does JDM Financial Group have an investment philosophy?

We base our approach on the belief that good financial decisions must be good life decisions and, therefore, that financial decision making should begin with an understanding of a client’s values and goals.  In this way, our advice is customized to each client.

What advice do you have for investors looking to a trusted advisor?

You may trust your financial advisor.  But for them to be worthy of this trust, they should be acting only in your best interest.  In other words, they should be acting only in the capacity of a “fiduciary.” A fiduciary is a professional who is required by the regulations that govern him or her to put clients’ interest ahead of their own when providing advice. To know if your financial advisor is a fiduciary (and worthy of the trust you place in him or her) or just a sales professional (caveat emptor), you need to investigate.

How do I know I am not overpaying for my investments?

When it comes to investment expenses, a good financial advisor minimizes your costs and maximizes your benefits. If a mutual fund or money manager is charging, say, 1%, then this manager should be outperforming peers that charge less.  It is not simply a question of cost but of value and optimization.  A good advisor helps you optimize. A client should ask their advisor for this type of analysis.

Why the concern about investment commissions and the importance of only paying “fees?”

Your advisor should work for you and, therefore, be paid only by you. If an advisor can receive payment from a mutual fund company in the form of a commission, then this advisor may not be acting with only your interests in mind. If an ­advisor can accept investment commissions, then his/her decisions may be influenced by a commission structure or other hidden incentives.

What are some of the common mistakes you see investors making today?

For clients who have an advisor, the most common mistake is not being aware of the incentives driving an advisor’s advice.  As a client, it is important to be clear on how certain advice may be influenced by how an advisor is compensated. Ideally, the advisor receives the same compensation regardless of the advice they render.

For clients who don’t have a financial advisor, the mistake is waiting until costly mistakes are made before hiring a trustworthy and capable professional. It can be difficult to find someone that you like and trust but it is important to keep searching until you find an expert who can help you get this right. •

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She was previously President of Stone, Harris & Stone, which was acquired by Poms & Associates in March 2012. In the years that she was with Stone, Harris, & Stone, Vikki increased gross premiums from $4 million to more than $20 million annually. In the five years she was president of the company, she grew the organization 70 percent.

Vikki earned a Bachelor of Science in Finance/Business Administration from the University of Southern California, Marshall School of Business.

In 2007, in recognition of her stellar leadership, Vikki was named “Women’s CEO of the Year” by the San Fernando Valley Business Journal.

In 2012 and 2016, she was named Property & Casualty Producer of the Year at her current agency. Over the years you’ve developed a real expertise in business insurance and commercial property and casualty for manufacturers and distributors.

What are the most common problems you find when you look into a potential client’s existing policies and coverage?

It’s the old expression, “the devil is in the details.” Insurance companies giveth and taketh away in the policies and they are very challenging to comprehend. When we review policies, we often find critical coverages improperly written or endorsements missing that could have a profound impact on the outcome of a claim.

A lot of people say “insurance is insurance,” but when we spoke to some of your clients, they told us you really are unique not just an “insurance person,” but a trusted advisor to company owners and CEOs. What makes you so unique and so valuable?

We look at what is driving the claims. We dwell down on what the “cause” is in addition to the placement of coverage. When we start to identify what the causes of loss are, the types of injuries, we send in our Risk Management and Loss Control teams to work with our clients to create a safer environment. We look at the culture and ways to elevate teams. Work Comp claims and premiums are one of the biggest items on a company’s P&L, they are painful and California is a very challenging state to do business in. We also focus on open claims and work with the carriers to make sure they are not over reserved and work hard to get the claims closed. All of this ultimately results in the lowering of premiums.

You’re a bit of an innovator, searching for unique insurance products. For example…drones! How did you get into drone coverage, and become known as the “queen of drone” insurance?

LOL, I am most certainly not the “queen of drone” insurance. A few years ago, I had a great opportunity come my way and recognized what was on the horizon. I was fortunate to have the support of Dave Poms to create a program to place coverage for drone manufacturers, distributors and operators.

If you were speaking to a group of business owners, let’s say manufacturers and distributors specifically, what advice would you give them when shopping for new policies or insurance agents?

Focus on your Risk Management, Loss Control and culture. Look at the source of the problem. I often use the example of… you go to the doctor and say you have a pain in your stomach and the doctor gives you a pill to alleviate the pain. I would choose to have a doctor say, let’s look at what is “causing” the pain and if we can get rid of that, you don’t need a pill.

You need to dwell down on the why and be willing to look at that. I can place coverage, we are strong negotiators and technically savvy…it takes more to tackle the real issues in a company. •

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Why video? To some, that may seem like a dumb question, but’s not. In some professional circles, video is what used car salesmen do. It’s what schlocky ambulance chasers use. And it’s what millennials use, not professionals.

According to MWP Digital Media, 55% of people watch videos online everyday.

According to Tubular Insights, 54% of senior executives share work related videos with colleagues weekly.

And according to Wistia, people spend on average 2.6X more time on pages with video than without it.

So, Mr. DeMille, we’re ready for our closeup!

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The are people in companies that feel like outsiders and because of such, their production and participation is not what it should be. Stephen Frueh calls these employees “orphans.” Workplace negativity is an issue many employers face. It leads to decreased creativity, communication, teamwork and motivation. So indentifying what types of negative employees an organization has is important so that business owners and managers can help them achieve goals effectively. Read more about this in Stephen’s article, “Eliminating Negativity In The Workplace.”

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The study revealed that finds that three in ten workers say they feel stressed about preparing for retirement. In addition, six in ten workers (61 percent) say they have saved for retirement, though just four in ten have tried to figure out how much money they will need in retirement (41 percent).

“I continue to be struck by the relatively small share of workers who do formal retirement planning,” said Lisa Greenwald, assistant vice president of Greenwald & Associates, and co-author of the report. “Use of a financial advisor increases with age and income, but just 23 percent of workers say that they have spoken with a professional advisor about retirement planning and only one in ten report they have prepared a formal plan for retirement.”•

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