The BIA Employee Stock Ownership Plan (ESOP)

We believe that employee ownership is a catalyst in providing an extra measure of client-centered service.

BIA instituted an Employee Stock Ownership Plan (ESOP) in 1998. In looking ahead to his retirement, Barry Isett, the company founder, examined many options for the ownership transition of his closely held company. He and his wife, Shirley, along with many long-term staff members, had invested much of their lives and talents to developing a fine firm with an excellent reputation. Barry's desire was to move into retirement while the organization he founded continued to have a profitable life of its own. In researching ESOPs, he found a vehicle that realized his long-term goals.

In an ESOP, company ownership is transferred to employees over a period of years, giving every eligible staff member a vested interest in the financial success of the business. An executive staff manages the day-to-day operations of the company. A board of directors establishes policies and reviews performance. Vested staff members realize the financial benefits of ESOP ownership upon retirement or departure from the firm, when their shares are repurchased and redistributed. Staff members are key players in BIA's business and financial success.

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