Fraudulent calling attempts are on the rise. Scammers are posing as WSFS Associates – using fake caller IDs and personal details to gain your trust. NEVER share your account passwords or verification codes on unsolicited calls. Verify the call by hanging up and notifying us directly at 888.973.7226 7am‑7pm ET (M‑F) and 9am‑3pm ET (on weekends).
Fraudulent calling attempts are on the rise. Scammers are posing as WSFS Associates – using fake caller IDs and personal details to gain your trust. NEVER share your account passwords or verification codes on unsolicited calls. Verify the call by hanging up and notifying us directly at 888.973.7226 7am‑7pm ET (M‑F) and 9am‑3pm ET (on weekends).
In December 2020, the Federal government passed a new $900 billion stimulus that includes $284 billion in additional Paycheck Protection Program (PPP) funding for small businesses. The legislation also calls for a more streamlined loan forgiveness process for some loans, as well as tax relief for all PPP loans that was not previously addressed in the…
In a year of constant change, one thing remains the same for your small business: it’s time to assess your business’s successes and opportunities heading into 2021. This year, it’s more important than ever to look at your business a bit differently. A recent WSFS Bank Business Survey revealed that 88% of businesses made changes to…
For some people, buying a car can be a nerve-wracking experience. The auto industry has made great strides in creating no-hassle, enjoyable car buying experiences, but there’s still a lot to consider such as down payments, financing, and what price point realistically fits into your budget. However, with a little planning and carefully assessing your finances…
After running a factory in corporate America for 25 years, Nate West wasn’t short on options when considering the next phase of his career. “I was fortunate enough to have an engineering background that, coupled with my management experience, afforded me some leeway in what path I wanted to take,” said Nate. Nate knew he wanted to…
Founded in South Jersey in 2009, TeenSHARP works to increase underrepresented students’ access to college and develop student-leaders who are successful, high-achieving and reaching potential (S.H.A.R.P.). Since then, the organization has worked tirelessly to prepare hundreds of talented African American and Latino students to attend and thrive at top colleges and dramatically expand the diverse talent…
In many households, 2020 has seen changes in our financial lives. The COVID-19 pandemic changed what we spend on and what we save for, such as more groceries due to working and schooling from home or less on transportation and parking. For others, the pandemic has had an immediate, and in some cases lasting, impact on income….
Founded in 2015, Wilmington-based Lead for Delaware’s goal was to train school leaders who could create meaningful change in high-need schools throughout the state. From its early roots as a Teach for America program, Lead for Delaware grew rapidly and in 2019 became a self-sustaining organization, 4th-Dimension Leaders. While the organization’s name changed, its goal remained…
Every year, small business owners and operators assess the wins and opportunities from the previous twelve months, looking for new ways to drive revenue, save money, leverage new innovations or technology, and provide their customers with the products and services they desire. This year, that assessment comes with a major caveat: COVID-19. 2020 was unlike any year…
Do you like to “dabble” in the stock market? Get a “hot tip” at a cocktail party? Read about a new technology or promising new drug and decide to take a “flyer” on its stock? It may be fun to do this with extra cash you may have, but do you have a long-term investing plan?…
The New Year is a great time for a fresh start, and there is no better way to get that start than by setting yourself up for financial success in 2021 and beyond. After months of navigating finances in a pandemic, many have found themselves placing a new emphasis on saving and having a nest egg…
These days, budgeting for the holidays is not only about saving for shopping – it’s also about saving while you shop. With the plethora of options available online, in stores and through how you pay, it’s easy to stack savings while stuffing your family’s stockings. The tried and true tips for holiday budgeting still work, such…
When work for the Sussex Montessori School began in conjunction with Montessori Works in 2013, the goal was to establish an innovative educational opportunity through an affordable Montessori school in Sussex County, Del. That goal came to fruition in Sept. 2020, when the school officially opened in Seaford, Del., and welcomed 260 students from kindergarten to…
Social media is now more pertinent than ever for small businesses. It is the word-of-mouth in the digital age. This holiday season, social media is a great tool to ask your customers to support you by shopping small. Understanding how to engage with potential customers is the first step. General Rules for Increasing Engagement Be purposeful…
During these challenging times, as business owners are looking for new ways to generate new income and increase foot traffic to their storefronts, they may want to consider adding a customer convenience that also brings in revenue – a bank-branded ATM. Consumers are still using cash. According to the 2020 Findings from the Diary of Consumer…
Looking to 2021, equity and bond market dynamics are fascinating to say the least. Equity markets might have one of the best backdrops in years. However, a lot hinges on the two Georgia Senate runoff elections to occur on January 5th, 2021. If the Republicans hold the majority in the Senate after the runoffs, no…
When small business leaders look back on 2020, many will see recurring themes of change, resiliency and the importance of relationships as they adapted to an unpredictable operating environment. Many businesses leaned on relationships with their customers, suppliers, partners and financial support systems, including their accountants and bankers, to help navigate Paycheck Protection Program (PPP) loans,…
As a leader, recognizing traits in individuals that are fits for your organization and its culture is key. But a leader’s job isn’t just finding the right people – it’s cultivating talent, enriching employees’ careers and lives – and your own. A recent WSFS Bank survey revealed that half of businesses found investing in their business…
With age comes wisdom, but in investing, it is wise to invest before you age. In a recent WSFS Wealth survey of consumers in the greater Philadelphia region and Delaware, two-thirds of young people (67%) are concerned about outliving their money. To overcome this fear, start investing at a young age and invest on a consistent…
Throughout the COVID-19 pandemic, businesses have had to make changes to how they operate, pivoting to keep up with local restrictions as they intensify or ease. As we head toward the end of 2020 and into 2021, the holiday season has taken shape as more of a marathon than a sprint, providing local businesses an opportunity…
One could argue that if there ever is a time to stress diversification in an investment portfolio, it would be 2020 post-election. Markets are forward looking, constantly trying to price today what they feel the future will bring. During an election year, that means pricing in policies and agenda items of the eventual winners of the…
When the COVID-19 pandemic caused parts of America to lock down last spring, many businesses were directly and swiftly impacted. Some businesses needed to pivot on short notice to safely keep their doors open and provide customers with the products and services they expected and needed. Others began to plan for when they could open again…
The resilience of the stock market during the pandemic is one of the more remarkable stories in this most unprecedented of years. Despite COVID-19, a recession, social unrest and natural disasters, the Dow Jones Industrial average is up significantly since it cratered in March. The Standard & Poor’s 500 index has performed even better reaching an…
Annual financial check-ups are as important as annual physicals at your doctor’s office. Life gets busy and it is easy to put these things off. It is important to your financial well-being to make sure you review your investments and goals at least annually so that there are no surprises along the way. Here are…
You just finished giving your first drum lesson to a friend and are feeling confident enough to continue giving lessons more often. Before your next step, ask yourself: Do I want to make steady income by doing this? How many customers do I need to pay bills or supplement personal expenses? How will I find customers? How…
Have you created a transition plan for your business? Planning for the next generation or for a potential sale can lead to a better outcome. It is important to understand the steps involved in creating a comprehensive transition plan and why starting sooner rather than later can lead to the best results for your future…
The season of giving is upon us. While the holidays typically mean quality time and exchanging gifts with family, I encourage those who can to look for ways to give back to their communities and nonprofit organizations in need of support. Giving to nonprofits throughout the year, if we’re able to, is important but the holidays bring…
Months into the pandemic, we continue to see many aspects of our lives transform at an accelerated pace. Banking is no stranger to the digital frontier. By 2006, 80 percent of U.S. banks offered online banking, in turn enabling digital banking to evolve and secure itself as a simple, safe and convenient avenue for customers to…
For many small businesses, surviving today’s economic uncertainty means that being conservative with working capital is a necessity. Some can get by with hiring freezes or finding ways to cut down on operational costs. For those who need to purchase or upgrade expensive equipment to remain competitive, however, cutting down on costs may not be enough….
Like many during the COVID-19 Pandemic of 2020, I found myself out of work. Waking up to a world that literally shut down overnight, it was concerning not knowing where I would find my next paycheck. Should I start a bookkeeping firm to bridge the gap between jobs? Should I find a trade? What can…
Every day, thousands of people fall victim to fraudulent emails, texts and calls from scammers pretending to be their bank. And in this time of expanded use of online banking, the problem is only growing worse. In fact, the Federal Trade Commission’s report on fraud estimates that American consumers lost a staggering $1.9 billion to these…
Every four years, the investing world holds their proverbial breaths to see who the next president will be. Whether it will be an incumbent President or a new candidate who wins the election, investors discuss and debate what the next four years of government policy will look like and how it will affect the markets….
A recent WSFS Bank survey found that homebuyers feel high levels of anxiety when purchasing a home, even more than when getting married by a wide margin (64% vs. 36%). As we have all seen in recent months, the inventory shortage is contributing to multiple offers and even more anxiety for buyers. Due to these factors,…
When I reflect on my career at WSFS Bank, which started more than 30 years ago, I often think about the connection between the Bank’s growth and my own. The two are so intertwined, it is difficult for me to imagine anything transpiring differently on this journey that WSFS and I have been on together. My…
Most Americans believe in managing their own money. While that is ok for some, for others, they may find themselves lost and unprepared for retirement. What often bridges the gap between financial freedom in retirement and those unprepared for life’s financial challenges is an Advisor. Now, let me explain the reasons behind selecting a good financial…
In today’s economic and cultural backdrop, more women need to seek financial advice and prepare for a secure future. It is important for women to take ownership of their financial lives. Financial independence, maintaining one’s lifestyle and the ability to meet long-term health care needs are top priorities for women in retirement. But how do women…
You’ve seen it – someone sends you an email posing as your bank, asking you to verify your account information. Or maybe your business receives an electronic invoice from a vendor with a minor, yet off-putting, detail – like an unfamiliar email domain name. One small lapse of judgment on your part, and you’re compromised. Scams…
You’ve learned what brush strokes to make, what notes to hit or what words to write. But here’s what they probably didn’t tell you in school: Your unique talent is also your business. And that comes with the need to have a business mindset that gives you the financial security to pursue your artistic vision….
At some point in everyone’s life, there is usually a reason that prompts you to start investing. Some of the reasons may include establishing an emergency fund, saving for a home, saving for a college education and building retirement funds. People assume that a lack of money is the reason people don’t start investing, but many…
Many people are risk averse when it comes to investing. It’s natural to be wary of the volatility of the stock market and to want to protect your savings with a safer investment option. In the first quarter of 2020, the stock market “fluctuated” to a loss of almost -20%. Even though the stock market…
With so much talk around home buying and refinance rates driving the housing market this summer and fall, many want to capitalize on the low rates. Homeowners are choosing to make improvements to their existing houses to accommodate remote working and schooling, or other comforts to gain more living space. There are great options for…
Since they first started dating, Kaitlin and Chris McCall had talked about owning their own business, and with a healthy amount of entrepreneurial spirit along with retail management, marketing and finance experience under their belts, they knew they had a foundation for success. After deciding to combine their passion for hosting family and friends and their…
A dollar today does not represent a dollar tomorrow. Inflation is the cause of that fact. Traditional measures of inflation have depicted a lower rate of inflation over the past 20 years. However, measures used by the government agencies are missing other forms of price increases that cannot be ignored and should be considered. These…
While we often stress how saving can help lead to a better life, it is just as important to remember to be a giver as well. Why? Giving back may be one of the most important principles in life. Those who are givers often receive the rewards of giving in many ways other than just financial gain….
The pandemic has had an unprecedented impact on the communities in which we live and work. As the needs of many have increased, so too have the hurdles for providing support to nonprofit and community organizations in a safe, socially distanced way. At WSFS, we believe it is integral to do more than just serve…
Back-to-school season is here, and this year is different than any other in our lifetimes. The impact of COVID‑19 on our schools last spring was swift as districts had to quickly pivot to remote learning as the pandemic intensified. With a couple months to assess resources and gain feedback from faculty, staff, parents and students, districts…
It starts with you. With retirement a mere five to ten years away, many Americans will start to panic thinking (perhaps appropriately) that they are not on track to retire comfortably. In the decade that I have been an advisor, I’ve seen many unique stories that all share a common thread – the desire to…
Now, more than ever, communities and their nonprofit organizations need support. Social distancing has provided an extra hurdle for nonprofits to assist those in need, but where there’s a will, there’s a way. If you want to give back to charities and/or the community, all you need to do is look around for various opportunities to…
Think back to the days leading up to your wedding – the tension, the fear and then the relief when the final vows were spoken. It turns out that the homebuying process is a lot like that for many people. In fact, 64 percent of those surveyed in a recent study by WSFS Mortgage said the…
