MEMBERSHIPS

1. MDRT

The Million Dollar Round Table (MDRT) is a globally renowned premier association of some of the top financial services and life insurance professionals from companies around the world. It is an extremely exclusive association that only accepts participation from companies that can demonstrate a sufficiently large portfolio of investment contracts and life insurances. In fact, less than 0.1% of financial advisors from the entire world can participate in it. Our company was one of the first MDRT members in Cyprus and we have been active members since 2006. In fact, our company’s administrative members frequently participate in the annual conferences of the association in a variety of USA states and in Canada. Our advisors apply the innovative ideas and methodology taught in the seminars they attend so as to improve our clients’ experience, while our company has implemented new practices to make internet sales much easier. They also play a significant role when they participate in different MDRT committees active in Cyprus.

2. CFA Institute

The CFA Institute is an international organisation with active members in most countries around the world, whose primary mandate is to maintain a high standard for the investment industry. It has created and maintains the CFA Institute Code of Ethics and Standards of Professional Conduct, which serves as a benchmark for investment professionals everywhere. Our company advisors perform the financial planning of investment and retirement needs of their clients based on the principles indicated by the CFA Institute. A particular emphasis is given to the Financial Planning Process as well as the Portfolio Management Process. These two processes allow Pitsas Insurances advisors to accurately pinpoint their clients’ investment and insurance needs, always simultaneously taking their current and future economic restrictions into consideration. In brief, the stages we follow for these two main processes are described below.

Financial Planning Process:

1. First, the planner and the client define their relationship – the planner’s responsibilities, how long the relationship will last, how decisions will be made, as well as how the planner will be paid and by whom.
2. The client’s data, such as his/her financial situation, personal and financial goals and attitude about risk, is gathered. At this stage and before giving any advice, the planner also gathers all the documents needed.
3. The client’s information is then assessed so as to determine their current situation and what needs to be done in order to achieve the client’s goals. This analysis could include the client’s assets, liabilities and cash flow, current insurance coverage, investment or tax strategies.
4. Based on the information provided, the planner offers recommendations and reviews them with the client so as to revise them if the client has any concerns.
5. The financial recommendations are implemented. The planner may carry them out him/herself or coordinate the process with the client and other professionals like stockbrokers or attorneys.
6. The client and financial planner agree on who will monitor the client’s progress. If that involves the planner, s/he should periodically report to the client about the situation and adjust the recommendations if necessary.

Portfolio Management Process:

1. A policy statement, i.e. the policy that contains the investor’s goals and restraints, is created.
2. An investment strategy is developed. This strategy should take current financial market and economic conditions into consideration so as to effectively combine them with the investor’s goals and objectives.
3. The investment strategy is implemented by investing in a portfolio that meets the client’s criteria.
4. The plan is constantly monitored and updated to adjust for any changes in the markets or the investor’s needs.

3. Pafos Chamber of Commerce and Industry

Pitsas Insurances has been an active member of the PCCI since 2014. We participate in it through two institutions, the Committee of European Financing and Subsidies and the Committee for the Promotion of Trade and Business Relationships between Cyprus and CIS.