Executive Summary Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the announcement that the CFP Board is ‘updating and modernizing’ its governance structure as an organization, including a revision to its Board terms, and more significantly, an expansion of the Board’s role in both enterprise risk […]
Archives for October 2020
ABLE account final rules provide wide-ranging guidance
The IRS issued final regulations on Thursday providing guidance to eligible individuals with a disability who are the owners and designated beneficiaries of ABLE accounts on a wide variety of issues involving the requirements for Sec. 529A ABLE accounts (T.D. 9923). ABLE (achieving a better life experience) accounts are tax-favored savings accounts set up under […]
Employers added 661K jobs in September, including 2.2K in accounting – Accounting Today
The unemployment rate declined by 0.5 percentage points to 7.9 percent in September, the U.S. Bureau of Labor Statistics reported Friday, as employers added 661,000 jobs, including 2,200 in accounting and bookkeeping. The labor market improvements reflected the continued economic recovery despite the novel coronavirus pandemic and efforts to contain it. However, stocks fell sharply […]
Bank of America stands by pledge of no layoffs this year
Bank of America plans to stand by its pledge of avoiding staff cuts this year as some of its biggest rivals resume workforce reductions amid the pandemic. “We’ve said no layoffs for this year and we’ll stick by that,” Bank of America Chief Executive Officer Brian Moynihan said Thursday in a Bloomberg Television interview. Banks […]
A $19B bond ETF shows the ‘60/40’ strategy still works
The world’s largest debt market may not be as sleepy as it seems. One of the best-known measures of volatility in Treasuries — an ICE Bank of America gauge that’s calculated using one-month options — is about as low as it’s ever been since its launch in the 1980s. The Federal Reserve has a lot […]
IPO Fever
We’re on pace to break the all-time record for IPOs set back in the year 2000. We could potentially see over $100 billion raised in initial public offerings and more than 200 newly listed companies by the end of 2020. If so, it would be one of the strangest, most unpredictable outcomes of the year […]
Failure
The President’s failure to suppress the virus’s spread through strong, consistent national policies and Speaker Pelosi’s failure to make a deal with the Treasury Secretary for a new round of stimulus (so far) have now hit the tape in the form of a deceleration in hiring this past month. September’s jobs report came out this […]
Small Business Exit Strategies: A Brief Rundown of Your Way Out
When you first start a business, the last thing you’re thinking about is leaving it. But, life gets in the way of plans. That’s why you need an exit strategy before starting your small business. Exit strategies help make sure you, your business, and investors are protected. There are a number of exit strategies for […]
Editor’s Column: Financial Planning Week has a new ally
In a sea of bad news there was a small island of cheerfulness this week, at least for the Financial Planning profession. The Personal Finance Society announced that it would throw its weight behind the rival CISI’s Financial Planning Week for the first time. I’ve long called for this sensible and significant step, the first […]
LV= in exclusive talks with esure owner
LV= confirmed today it is in exclusive talks with Bain Capital, the US private equity owner of esure, about a potential deal. LV= said it was in “exclusive discussions” regarding a potential transaction involving Bain Capital but gave few details. Bain Capital bought esure in a cash deal worth about £1.2bn in 2018. Bain is a […]