National Best

Randy McCord

My Story

Randy McCord B.A.

Executive Business Director, National Best Financial Network

Randy is is a founder of National Best Financial Network, an Independent Broker and one of the most innovative and progressive Life Insurance brokerages in Canada. “ I love being an independent advisor with no requirements to sell proprietary product or cookie cutter solutions.”

He is also Exempt Market Licensed and is a Private Equity Specialist through Pinnacle Wealth Brokers.

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Randy is a big believer independent advice for clients. “We want to impart knowledge to our clients, so they fully understand their options. This allows them to make informed decisions regarding their financial life. It is not about selling products. It is about explaining concepts and strategies so that clients can choose the best fit for their situation.”

Randy and his National Best Team are specialists at protection and investment strategies for Canadians. Randy’s personal focus is on business owners, whether they are sole proprietors or incorporated businesses. His team of dedicated professionals can provide:

  • Tax-Free Retirement Income
  • Key Person Insurance – Buy/Sell Agreements
  • Employee Retention – Sustainable Group Health Benefit Plans
  • Guaranteed Retirement Income Plans
  • Tax Effective Succession & Estate Transfer

Randy is a big believer in education. He has facilitated over 500 educational workshops for Canadians in the last 20 years. He also teaches a course “Investing in Real Estate” for the Adult Education division of the Calgary Board of Education. He has also taught courses at Mount Royal and the University of Calgary.

He has been an investor himself for over 35 years and has been licensed in Financial Services for Since 2007. Randy is an alumnus of the University of Calgary.

Randy trains National Best representatives in the art of networking and referral business, in addition to facilitating a monthly public seminar on this topic. He has won the BNI Notable Networker of the Year for two years running and is the past President of his BNI chapter.

He loves to sing and play the guitar so if you want to jam with him (or get help with your finances) contact him at randy.mccord@nbbn.ca

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Corporate Strategies

Successful business owners and entrepreneurs are naturally optimistic. They believe deeply in their product or their service and they are passionate about providing their best to clients and employees. They are visionaries and dreamers but they are also roll-up-your-sleeve realists who put in countless hours to build their businesses. But it is this eternal optimism and deep passion that often keeps them from asking some very important questions with regard to their business. Questions like:

• Corporate Risk Strategy Experts | Read More...
  1. What happens to my business if my top salesperson becomes injured or disabled?
  2. What happens to my company if my business partner dies?
  3. What happens to my business if I have a heart attack or get cancer?
  4. How can I attract & retain employees with a benefits plan that I can afford?
  5. How can I pass my business onto my children without burdening them with debt or tax?
  6. How can I creditor proof my business?
  7. How can I access my corporate earnings in the most tax effective manner?
  8. Who can help me understand and mitigate these risks?

National Best Financial Network can provide you with the answers to these questions. Randy McCord and his team of advisers, top-tier providers, industry experts, and professional partners have the answers to these important questions.

Our team will provide a complimentary, no obligation discovery consultation to assess your company’s current risk factors. We will then provide focused solutions using best in class strategies with top-tier service providers in our industry. Our trusted professional partners in our sister industries (accounting, legal, lending and coaching) will fill in all the pieces to the puzzle. Your company’s risk factors will be identified, quantified and addressed with a clear plan of action.

Real risks dealt with by realistic plans.

Corporate Disability Insurance – Injury to a Key PersonWhen a business loses a key person, several things can happen. First and foremost, the business is disrupted as the owners try to assess what has happened and develop a plan of action. This catastrophic event can cause a drop in sales, a loss of productivity as the business focus is diffused.

In addition, sales and contracts that have already been signed may be difficult to deliver on with the loss of the key person. This questionable performance may cause clients to seek alternative suppliers. This can cause a chain reaction that may get back to creditors. They may become nervous about loans and request liquidation of assets for repayment. In many cases, this one catastrophic event could lead to receivership or the dissolution of the company. Finally, even if the company is able to weather all of these storms they still must find a way to replace the skills of the key employee.

Fortunately, the risks surrounding the death or disability of the key person can be insured.
Businesses can purchase corporate-owned life insurance on the lives of their key people. If one of these key people dies, the business may receive a tax-free death benefit which it can use to meet expenses and repay debts, thereby easing the fears of creditors. The money can also be used as a reserve against the drop in revenue that may occur while the company goes through a period of transition. Finally, the money can be used to pay the costs of replacing the lost skills.

A side benefit for private companies is that the life insurance proceeds can be paid out as tax-free dividends to the owners once the business has recovered. Funds can also be used to provide a $10,000 tax-free death benefit to the spouse of the deceased. As well, an opportunity exists for the key person to take advantage of the tax-deferral capabilities of certain life insurance policies through split dollar coverage.

Disability insurance is also available on key people. The company owns the plan and is the beneficiary of the proceeds. The proceeds, of course, can be used for all the same purposes as proceeds from life insurance plans. The only difference is that the disability insurance proceeds cannot be paid out as tax-free dividends to the owners of the business, nor can they be paid tax-free to disabled employees unless certain conditions are met.

• Many Critical Illness policies contain Best Doctors included as a feature | Read More...

Best Doctors Global Medical Care (GMC) is a unique and comprehensive insurance plan that enables you to obtain medical care from leading physicians worldwide. Designed to complement your provincial and/or employee health plan, Best Doctors ensures that your healthcare needs and costs are covered – any place, any time.

One call to Best Doctors and we’ll manage all the details, from finding the right doctor to arranging travel and reimbursing medical expenses. You benefit from:

Timely access to the world’s best treatment and care

Assistance finding a top specialist or treatment facility within or outside of Canada

Expert second opinions on medical diagnoses and treatment plans

Access to medical procedures and prescription medications unavailable in Canada

One-on-one support to help you navigate the healthcare system, get answers to your medical questions, plan your travel and more

Best Doctors finds the right physicians, helps with your arrangements and covers all costs as outlined in your GMC policy.

Founded in 1989 by Harvard Medical School physicians, Best Doctors serves over 30 million members in 70 countries. Whether you’re supplementing the efforts of your local physician or seeking medical treatment abroad, Best Doctors GMC ensures that you have access to the best care in the world, no matter where it’s located.

Retaining and Attracting Employees

• Group Benefits: Small Business Solutions | Read More...

Business owners face unique challenges every day. These challenges evolve as your business grows and establishes itself.

Our small-business solutions can help you pull it all together. We assist business owners with everything from managing business costs, to attracting the best employees, and growing personal wealth. At National Best, because we are a true broker we can shop the market for the best group benefits solution for your business.

We can search out group benefits programs for your small business that:

  • are affordable
  • are easy to purchase
  • can be tailored to meet your company’s specific needs, and
  • will form an important part of your long-term business plan and your long-term business success.

Advantages of a benefits program:

  • a competitive edge in the job market
  • a cost-effective method to protect employees and their families
  • a tax effective form of compensation
• Medium to Large Business Solutions | Read More...

We’re on the map for Canadian business – from mid-sized to corporate. Our extensive service network stretches across the country so that we are where you are and can respond quickly to your needs. Our top-tier service providers allow us access to a broad and customizable product suite that is comprehensive and flexible so it will meet your requirements now and in the future. Our solutions are developed with best-of-class partners who are specialists in their field, our hands-on approach to disability management moves people back into top productivity and our reporting tools sift through disability claims experience to highlight trends.

Your investment is protected by our practical approach to health management. Our focus on prevention and intervention is designed to help you see healthier, more engaged and productive employees. And by matching benefits and support for health, absence and workplace injury with intensive claims management, your plan will be sustainable.

Talk to our group benefits professionals. We can help.

• Unions and Trusts | Read More...

Many of our top-tier clients include multi-employer trade unions as well as teachers and public sector trust funds. We’ll match your needs with quality products, consistent and conscientious service, and flexible underwriting.

You and your members will have the advantage of working with our team of in-house experts. Their ongoing training in subjects like hour banks, collective bargaining, reciprocal agreements, and legislative changes give them the keys to understanding your business better.

Committed to you

We’re sensitive to the influence of union and management negotiations on benefit plans. Our best in class service providers will do all they can to support the negotiation process, including accommodating those negotiations through our rating actions and the timing of rate adjustments. We’ll also work closely with third-party administrators on day-to-day service issues such as claims eligibility and premium administration.

• The Advantage of Third-Party Administrators | More...

At National Best, we make extensive use of third-party administrators for group benefit plans. Third-party administrators act like brokers in the world of group benefits. They will assess the information that we gather in our discovery meetings to search out the best group benefits plan in the marketplace today. In addition, they will assist with ongoing claims and provide personalized support to your employees when it comes to understanding the group benefits and making claims.

• No-Cost Retirement Plans | Read More...

If you have ever thought about setting up a retirement plan for your employees but were deterred by the idea of having to revenue match, then fear no more. Many of our product providers have specialized plans for small business with 10 or more employees. These plans provide significant advantages to the employees including wide variety of investments with different risk and return profiles and reduced fees. Other than some small administrative costs to your company these specialized plans can be very beneficial to your employees at no cost to your business.

• Private Health Spending Plans | Read More...

Private Health Spending Plans have been in existence since 1985. The tax act has allowed for the trust administrators to provide 100% tax deductible receipts for medical expenses to corporations who set up Private Health Spending Plans. The plans can be set up as standalone or as an addition to a group benefits plan. The great advantage of a PHSP for the business or company is that the cost of the plan is capped at a maximum. From year to year, the Corporation will know exactly the maximum amount of benefit that will be provided to its employees. This is not the case with group benefits plans. The cost of most group benefit plans are renegotiated annually and will generally increase as the employees make use of the plan. This gives the PHSP a distinct advantage, from a cost management perspective. Also, another advantage is that PHS keys cover a much wider range of medical costs.

How does a PHSP work? Example of a $3,000 medical expense.

Step1 – the employee pays for the health and dental expense personally. This payment is made from a personal account. Let’s say the employee’s personal credit card ($3,000). They complete a claim form.

Step 2 – The Corporation sends the PHSP administrator the claim form and funding plus the 10% administration fee. This payment is from a Corporate account. Let’s say an online deposit from your business bank account to the PHSP administrator.

Step 3 – PHSP Administrator reimburses the employee for their original personal expense. Let’s say through direct deposit to their personal bank account. The $3,000 reimbursement is tax-free. The $3,300 payment from the corporation is 100% pre-tax deductible.

Private Health Spending Plans are an excellent resource for both sole proprietors, small corporations where the primary shareholders are the only employees, or for larger corporations with many employees that wish to control their group benefits costs.

Group Benefit Plans

Contact Randy or Request Information

E-mail: randy.mccord@nbbn.ca,
Phone: +1 (800) 503 – 6140 Ext: 105
Fax: +1 (877) 904-7715
Cell: +1 (403) 470-5254

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Contact Randy or Request Information

E-mail: randy.mccord@nbbn.ca
Phone: +1 (800) 503 – 6140 Ext: 105
Fax: +1 (877) 904-7715
Cell: +1 (403) 470-5254

No time to talk? Click here and let me know when I can call you.

Free Download

“The 25 reasons you should have personal insurance rather than mortgage or creditor insurance” & my free e-book on the three types of life insurance available to Canadians and a brief explanation of each product.