In what may be the biggest departure from the No. 1 IBD in years, a tax professional-focused enterprise acquired a midsize broker-dealer and its CEO left LPL Financial. Dallas-based Level Four Advisory Services’ CEO Edmon “Jake” Tomes changed his broker-dealer registration to Harbor Financial Services on Dec. 10, and the parent firm of the office […]
Archives for 2021
Bitcoin Thirstmonsters
Welcome to the second episode of The Compound & Friends, a new podcast from your favorite financial and investing commentators. This week, Michael Batnick, Sam Ro and Downtown Josh Brown discuss: ►Bitcoin Miami ►Circuit breakers ►When stocks become unrate-able ►Rising wages ►Chipotle raising burrito prices for worker wage hike ►May CPI 5% ►75 years of […]
Stocks making the biggest moves in the premarket: Snowflake, Vertex Pharmaceuticals, Chewy & more
Take a look at some of the biggest movers in the premarket: Snowflake (SNOW) – Snowflake shares fell 3.7% in premarket trading, following the cloud computing company’s presentation of financial targets at its Investor Day meeting. Snowflake set a target of reaching $10 billion in annual product revenue by 2029, compared to $554 million in […]
Here’s how to tell if a politician might be stealing campaign cash
Individuals making small contributions — the kind of donors candidates love to talk about at campaign rallies — transformed the political landscape in 2020. Small donors, those giving $200 or less to a candidate, accounted for a whopping $1.8 billion in federal campaign contributions by the weeks leading up to last fall’s elections, according to […]
10 key considerations for enterprises before purchasing an IoT sensor
Real-time, technology-driven strategy has become the cornerstone of planning and deploying a successful supply chain, while forecasting potential disruptions for virtually any product category. As the price of sensors has come down over time, says Bryn Lowry, VP of customer success, Cloudleaf, implementing IoT devices has been a massive accelerator for this endeavour. Still, organisations […]
Treasury must fix £17bn pensions error say MPs
MPs on the influential Public Accounts Committee (PAC) have published a damning report criticising the Treasury for failing to fix what it calls a £17bn error on public service pensions that has disadvantaged younger workers, women and other groups. The PAC reports says the Treasury should have foreseen age discrimination issues that gave rise to […]
Transact staff to return to the office
Staff at adviser platform Transact are to start to return to the office from August as the platform pilots a hybrid working model. Some staff will return to the office during August with all staff members to return in September, according to the platform’s latest update for financial advisers from CEO Jonathan Gunby. The platform […]
UK wealth grows faster despite pandemic
Financial wealth in the UK grew by 7% in 2019-20 compared to 5% for Western Europe, according to a new report. According to Boston Consulting Group’s (BCG) new global wealth report, global financial wealth rose by 8.3% in 2020 to reach an all time high of $250trn, despite the impact of the Coronavirus pandemic. Global […]
Regs. on postponing tax deadlines due to federally declared disasters
In new final regulations (T.D. 9950), Treasury and the IRS have attempted to resolve ambiguities about when a federally declared disaster will lead to a mandatory 60-day postponement of certain time-sensitive tax-related deadlines. The final regulations adopt, with some changes, proposed regulations issued in January (REG-115057-20). The mandatory postponement provision, Sec. 7508A(d), was added to […]
IBD settles SEC case as industry braces for enforcement under Gensler
More than a year after the end of a controversial SEC self-reporting program, a midsize wealth manager that didn’t participate has settled the regulator’s case against it. Centaurus Financial agreed to pay $1.3 million in disgorgement, interest and a fine after the SEC alleged the Anaheim, California-based independent broker-dealer failed to adequately disclose conflicts of […]