Through FirstService Financial, our affiliated financial services company, we can design and administer competitively priced banking and insurance programs for your community. FirstService Financial’s programs are offered exclusively to our clients, creating a tangible differentiator for our organization. Since 2003, FirstService Financial has executed more than $1 billion in financing transactions.
By leveraging its sizable portfolio of 9,000 clients, FirstService Financial can negotiate the best pricing with quality vendors and pass the cost savings to our managed communities – saving them an average of $7.5 million in operating account service fees each year. The company’s Cash Management team designs optimal short- and long-term strategies for each client’s needs, designed to replace lower-rate funding accounts (brokerage-based money market accounts, sweeps etc.), reduce ongoing security and tracking burdens, improve asset liquidity and maximize interest revenue. FirstService Financial’s use of leading edge technology to handle its high volume of monthly transactions results in further savings for clients.
FS Insurance, a FirstService Financialsubsidiary, annually writes the insurance for over 2,800 locations in North America. Through a distribution network of local agencies covering all major markets, FS Insurance creates and co-brokers insurance products solely on its managed locations. The company’s long-standing commitment to risk management education, mitigation and control delivers above-average returns to its insurance company partners and produces loss ratios ranging up to 90% below market average.
Additionally, as an affiliate of our company, FS Insurance leverages FirstService Residential’s substantial purchasing power to offer the broadest and most cost-efficient risk coverage insurance products available in the market. These programs provide pricing and program stability with insurers rated “A” by AM Best. In addition, by accessing over 20 years of historical data, the company creates proprietary insurance products that prove to carriers that FirstService Residential clients have loss experiences significantly below market – resulting in significant added value for our clients.
FirstService Financial’s financial and insurance services are optional however, many of our clients elect to take advantage to help them better manage their cash deposits and gain significant value. Services include:
Learn more about how FirstService Residential’s banking and insurance services can benefit your association.
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