Executive Summary Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the big industry news that LPL has formally announced the rollout of a ‘standalone’ RIA custodial solution for fee-only RIAs, promising no asset minimums and a more “high-touch, white-glove” approach than its larger competitors (i.e., Schwab […]
Archives for June 2021
IRS posts ARPA credit FAQs
The IRS posted two sets of FAQs to its website on Friday, explaining changes to various credits made by the American Rescue Plan Act (ARPA), P.L. 117-2. New Child and Dependent Care Tax Credit FAQs discuss changes made by ARPA that increased the maximum amount of work-related expenses for qualifying care that may be taken […]
Editor’s Column: Let the banter return
It was good to get away last week for a break to sunny Devon, beating the G7 hordes heading to the South West. We stayed in the lovely seaside town of Sidmouth and had a very pleasant week, our first holiday since last year (apologies if you haven’t been away yet, I know it can […]
REvil Hits US Nuclear Weapons Contractor: Report
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Ex-Ameriprise client associate alleges advisors sexually harassed her
A former registered client associate for one of the largest wealth managers alleges two financial advisors sexually harassed her and the company retaliated against her for reporting it. Stephanie Henninger accuses Ameriprise of a hostile work environment due to the conduct of advisors Michael S. Maher and Stephen M. Waite II and unlawful retaliation including […]
$2.8B OSJ Level Four acquires IBD and CEO leaves LPL
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 […]
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 […]