Before January 1984, there were no local firms specializing in third-party administration -- only firms that also wanted to sell you investment products as part of a "package," which is not always bad, but it doesn't offer much in the way of choice. Married with two young children and another soon on the way, Dick and Jolene Billings started what was then known as R.L. Billings & Co., with 30 clients and little money in the bank.
R. L. Billings and Company grows their client base setting up 401(a), Money Purchase, Profit Sharing and Defined Benefit plans. Plan design flexibility was an important factor to differentiate themselves from the competition. After school their children would help out in sorting brokerage account statements during the busy tax season. Michael their middle child starts learning brokerage account reconciliations from his interest in Math.
Participants are now able to go online and view/trade their account balances. Technology provides the company an opportunity to leverage efficiencies. The company becomes a paperless office with the internal motto "if it starts electronic, it stays electronic". Michael (2006) and Matthew (2007) join the company doing marketing, sales and customer service for participants. The 401(k), 403(b) and 457 business take off.
R.L. Billings & Co.'s name changes to Billings and Company, reflecting the fact that multiple Billings family members are involved in the firm. The company has a new growth method by acquiring retirement plan business. Purchases come from Abdo, Eick and Meyers in Mankato, MN; Life Associates in Chicago, IL; and plans from Qualified Plan Consultants in West Des Moines, IA. Dick continues to be the sales team leader for the company. Michael becomes a direct supervisor to the staff while focusing on documented processes and procedures. Matthew takes on all accounting functions of the business.
The company's continued success is done by happy employees providing the same expert service that's been Billings and Company's hallmark since the beginning.
President of Billings and Company, Michael Billings focuses on maintaining the CEFEX certification to place its clients' interests first. The CEFEX audit fosters a culture of continuous improvement within the firm and increases transparency and accountability.
Copyright © 2019 Billings and Company - All Rights Reserved.