Meet Robert Roberts

When he founded EDM (Electronic Design & Manufacturing) in 1990, Robert Roberts set out to build reliable technology solutions for demanding national customers. He envisioned hiring a talented, productive workforce with competitive and fair benefits and incentives.

EDM makes printed circuit boards (PCBs), the building blocks of computers, televisions, cell phones, cameras, and wireless networks. To compete in a competitive and complex market, Roberts and his team worked with Financial Designs for innovative strategies to help the employees. Financial Designs helped design and implement the Phase One benefits.

“Robert had always been generous in helping his employees,” Rick said. “He was committed to doing the right thing—to make a great product, provide meaningful benefits to employees, and to give back to the community.”

Discussions about business philosophy, entrepreneurship and employee stewardship evolved into a solid benefit program at EDM, including group health, life insurance, 401k plans, corporate owned life insurance (COLI) and non-qualified deferred comp (NQDC). Financial Designs continued to provide consultation as the company grew.

The benefits, insurance and investment platforms matured over the years. In every business life cycle, BCSP (Business Continuity and Succession Planning) is critical. Financial Designs helped initiate the discussion about an Employee Stock Ownership Plan (ESOP) that was implemented.

“The greatest single thing for us was having employees own the company,” Roberts said. “Employees have a vested interest in efficiency and reducing waste. They’re more concerned about making a good product and making sure customers receive maximum service.”

The ESOP was a “manifestation of the idea from day one that the most important asset of our company was our employees,” he added. “I always tried to treat employees with the dignity and respect they deserve, and to share in the significant long-term benefits of the company’s growth and earnings.”

After nearly three decades of impassioned work at EDM, Roberts executed a successful succession and retirement.

“Financial Designs consistently created positive change. Rick has been a mentor advising our business,” said Roberts. “We’ve depended on Financial Designs to give us the good advice and detailed information that’s been necessary to make good decisions.”

*Distributions under the policy (including cash dividends and partial/full surrenders) are not subject to taxation up to the amount paid into the policy (your cost basis). If the policy is a Modified Endowment Contract, policy loans and/or distributions are taxable to the extent of gain and are subject to a 10% tax penalty. Access to cash values through borrowing or partial surrenders can reduce the policy’s cash value and death benefit, increase the chance the policy will lapse, and may result in a tax liability if the policy terminates before the death of the insured.