Landsman says that his team has extensive knowledge of the active duty police and New York State Fraternal Order of Police benefits programs. "We help police get more out of the city compensation package," he says, "covering the entire financial situation from cash reserve funds to retirement strategies."
In 2001, Landsman created the Financial Education Program, which offers financial guidance and educational seminars to officers at all levels of law enforcement. This includes educational programs at the New York City Police Academy and seminars for the New York City Detective Endowment Association (and, more recently, for the New York State Fraternal Order of Police). Landsman also makes presentations at police meetings and offers free assessments of anyone's finances.
Locker also speaks regularly at police functions and trains other advisors in police benefits. Fanara helps develop the educational program and works as the liaison between Beacon and the police organizations. Fanara's brother, Peter, has joined the staff too as part of the education team.
Because of the popularity and success of the New York City program, Landsman says, "Our next big step is into law enforcement circles in New Jersey."
Steve Wallace is a 22-year veteran of the New York City police force who is going to retire in a year and says he appreciates the fact that the education seminars Beacon holds present financial material in laymen's terms.
"Police are not very trusting by nature. It is just part of our job, but I trust Randy completely," Wallace says. "He took a free look at my portfolio, and whenever something is free I will jump at it. Beacon put me in a deferred compensation plan and an annuity fund. People at Beacon understand the unique aspects of the city's pension plan and benefits. I am a union rep, and now I present Beacon to others."
Helen Pappageorge, a civilian employee of the police department, had her own unique finances to present to Beacon. Her brother was killed on 9/11, so her mother is dealing with a substantial amount of money. In addition, her father had recently died at that time and she had all of the regular benefits of a New York City employee to consider for herself and her son.
"They put my mother in a mutual fund appropriate for her age, and she still has access to money if she needs it for an emergency. I had never paid any attention to my own finances except to pay my bills, and Beacon impressed upon me that it is my money and I should be thinking about passing whatever I can on to my son."
For those at Beacon, there is a big difference between most clients and the police clients.
"There is a large variation in personality," says Landsman. "Police will listen to the guy at the next locker sometimes before they will listen to a professional. That is why we concentrate on education and have meetings and seminars all the time to tell police how to maximize their pensions and other benefits and how we can help them."