The Fed opened Facebook accounts, investors piled ridicule

United States Eastern time on August 20 at 10 in the morning, the Fed announced on 1xbet platform opened a Facebook account so far has sent 4 messages, declaring that the Fed opened Facebook accounts, introduced the Federal Reserve’s responsibilities, organisational structure, and the current President Yellen, 4 information oriented website and related links. The Fed has enormous influence on the financial sector and the general public. Market pay close attention to the Fed’s words and deeds, to speculate when it will appear the next time. But the Fed’s message is always the market criticism: too “ambiguous” attitude changes too fast, too little useful information. It was Bernanke, Yellen of the era to the present era, has been complaining about that.

Today, the Federal Reserve opened a Facebook account, aimed at better pass federal reserve policy, will Facebook accounts share “press releases, speeches, testimony, reports, public education materials, FAQ, photos, and video”, but for now, these materials are provided by the official website of the Federal Reserve.

If you expect your Facebook friends “fed” can deliver more on the social networking site it really thinks, seem destined to be disappointed. 4 information issued by the Federal Reserve are nothing new, does not deliver more information. In addition to open Facebook outside of the Federal Reserve, in fact also have 4 other accounts of the social platform, and Youtube,Twitter,LinkedIn, respectively, and Flickr.

However, the Fed under account information, a lot of aggressive reply. One Netizen named Jack Sandler to ridicule technique known as Fed rate decision threatened and cajoled investors. News release received 19 49 minutes “like”. Don’t know if Yellen I could often see her statement into other users ‘ posts, but officials at the Office of the Federal Reserve, can be considered a new attempt. More than the Fed opened a Facebook account before that, around the Fed would have opened a Facebook account, such as the New York Fed, Federal Reserve Bank of San Francisco, Saint Louis Federal Reserve, Atlanta Federal Reserve, Federal Reserve Bank of Cleveland and Richmond Fed.

Current fed to the 1xbet public policy eight times a year, mainly through monetary policy meetings and public comments from Fed officials. Fed policy meeting held 8 times a year, meeting minutes released at each policy meeting next month, also will be published four times a year the economy and interest rate policy Outlook. Fed each year will be held in Jackson Hole, Wyoming, in the famous World Bank annual meeting, invited the Governor of the Central Bank on monetary policy and economic policy discussions. In addition to these regular activities, the Federal Reserve Chairman, and other Fed officials would not speak on a regular basis. In addition to meeting the week before the quiet period, but other Fed officials have repeatedly interviewed expressed the view, but is often difficult to unity.


Finding the Best Place to Acquire Modafinil Online as well as the procedure of Order

Are you experiencing narcolepsy or a sleep problem that makes you feel extreme sleepy during the day? Well, this is definitely a big problem. People who experience this type of disorder are certainly having troubles managing their time over the day. This could ruin their everyday living which includes their performance at work. With this, it is essential that they could find a means concerning how to handle such condition. Visiting a doctor is the wisest choice to make.
One should take medicine so as to address such condition. The majority of the doctors recommended medicine for this is called Modafinil as you may read at http://modafinil.cheapcialisstore.com. This medicine as you may read at http://modafinil.cheapcialisstore.com helps you to stimulate a person’s attentiveness however, not to cure the said condition. In spite of its effect; this medication is limited in many places. With that, it is better to get modafinil online. Given that idea, you may ask the following: Where can I buy modafinil online? The answer is simple. You won’t encounter a hard time finding a shop in which sells this kind of medicine because it is an online order. You could find plenty of modafinil online pharmacy on the internet so your search will be simple. You just need to be cautious on choosing modafinil online provider to make sure getting a legitimate medicine. Brand Labels of Modafinil which are obtainable on the web There are many brand of modafinil online however Provigil is among the most in-demand. Almost all online provider are offering Provigil online for order. Many are requiring prescription from the doctors but others are not. Have you got any idea where is the best place to buy Provigil online? It is essential to find out where’s the right place to buy Provigil online. Given that you’ll be transacting online, be prepared to encounter scammers, thus you must be keen in selecting a dependable online pharmacy. It’s possible to do by adhering to certain conditions. First, you must be sure that the site is reliable by reading some clients review. Next, make a comparison about the price of the product. Third, you need to inquire just how long does the deal process happens. And finally check if they are licensed distributor of the item. How to Buy Modafinil Online Purchasing this drugs comes up in several ways. The process from shop to shop may vary based on the rules set. Something is common, and that’s you should fill up the form, jot down your order, pay for it and wait until it delivery’s at your doorstep. There are a few who provides cash on delivery basis so if you’d prefer this idea, you may also choose to use it. Depending how far your address is, the delivery will take from 2 up to 3 days. If in case it reaches more than the indicated time, you should call the drugstore for reporting. They strictly implement a no return and no exchange coverage, unless you acquired a broken parcel. This is due to some safety and health reasons. So you have it. By this time around, you may now know where you can buy and the procedure of buying modafinil online. But keep in mind check first with the rules of your area regarding the limitations of the medications purchase and distribution.


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Ensure Your Business Venture Is Ready For A Power Outage

A power outage can certainly bring a small business to a total stand still. In case the organization is not well prepared, their products could fail fully as well as, in the worst situation, could wind up losing essential information the company needs to function. Whenever such things happen, it is going to take lots of time in order to get the business operational again as well as it could cost the company owner a significant amount of cash. Instead, the business proprietor will certainly want to ensure they have the right products in order to prevent just about any issues during a power outage.

There are various items that can help the company owner get ready for a power outage for their particular business. Power supplies that work anytime the power might be out along with generators may give the company sufficient power to be able to complete transactions and save anything at all that must be saved. They’re able to additionally stop the loss of important info because they’re going to start operating instantly so the equipment does not turn off when the power outage occurs. Battery backups might in addition be a sensible way to make sure smaller products are going to continue to operate after the lights are out. The business proprietor must compare a variety of goods in order to decide what is good for their particular company requirements.

After they have an idea of what forms of products they’ll need to acquire, they will want to discover which particular goods they should buy. This means they are going to desire to have a look at critical reviews for the gear as well as determine which ones will be recommended. They are not most likely going to desire to obtain something just to find out it doesn’t work as promoted anytime a power outage does occur. They can visit web-sites such as thetoolboss.com in order to have a look at a variety of items to be able to discover a lot more concerning them so they can acquire something they will be in a position to count on to help keep their particular business operational.

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Tips to Choosing a Landscaping Specialist

Landscape designs contractors tend to be vague and also probably the most very easily misinterpreted technicians in the particular property enhancement business. Tiny, self-employed companies might concentrate on tiny tasks just like delivering and also installing mulch, supporting with your own personal spring seeding, installing yard drainage, or maybe sprinklers. Much larger companies tend to be more generally referred as design businesses, along with these experts will certainly produce and carry out a detailed landscaping style that may transform your own personal yard directly into a work of art. Yet many folks nonetheless refer to be able to them since landscaping installers. Discover new details here.

Depending in the kind of assistance a person require, landscaping may get pricey. The common cost for you to install landscaping design for household properties is usually $5,000, in accordance with data obtained. That stated, your distinct job as well as its expense might carry little likability to this particular average. Several landscaping companies install as aspect of their particular services. Some sort of new cement pool area alone may cost $42,000 or perhaps more. However, there are generally several techniques to acquire the almost all value intended for your dollars. In fact, this blog can support you help save money about your up coming landscaping builder call:

Prior to you phone, examine constant rates or maybe job costs of many landscapers. Create a record of achievable landscaping choices. You may possibly only always be able in order to have any portion involving it accomplished, but permit the specialized make typically the call upon what must come 1st. Also, your own personal landscaping service provider might reduce you the deal regarding having the idea all accomplished at as soon as rather as compared to in stages of development.

Some landscapers will enable you for you to buy your current own trees and shrubs and bushes. You could often help save money this kind of way. Think about skill and also experience around a less expensive hourly level. Having a great inexperienced, low-cost landscaper who also doesn’t perform his work properly could require a person to get another landscaper to fix their mess. Stay away from online blunders by choosing quality initially.

Depending in the dimensions of your own yard as well as what anyone want completed to that, you may possibly need for you to hire any landscape originator to design and style your landscape designs. Be positive to contain the expense of typically the architect directly into the overall cost involving your landscaping design. To learn more, read here.


Certified Financial Planner – CFP

What is a ‘Certified Financial Planner – CFP’

A certified financial planner (CFP) refers to the certification marks owned by the Certified Financial Planner Board of Standards, Inc. These marks are awarded to individuals who successfully complete the CFP Board’s initial and ongoing certification requirements.

BREAKING DOWN ‘Certified Financial Planner – CFP’

Those wanting to become a CFP professional must take extensive exams in the areas of financial planning, taxes, insurance, estate planning and retirement. Attaining the CFP designation takes experience and a substantial amount of work. CFP professionals must also complete continuing education programs each year to maintain their certification status. It is always good idea to ask about a professional’s educational background and references before allowing a CFP designee (or any other financial professional) to manage your money. Don’t be afraid to say “no thanks” if you feel that the person doesn’t have sufficient experience.


529 Strateges That Maximize Student Aid Options

College isn’t cheap. Anybody who is in college, was in college or is currently saving for college already knows that. What you might not know, however, is how fast the costs are rising. The accepted rule of thumb is that the cost of college increases at about twice the rate of inflation. That means that each year, you can expect to pay at least 5% more.

If you’re a parent of a future college student, you have to save now, but tucking money away in a savings account isn’t going to work. You have to invest it to stay ahead of inflation. Most people turn to a 529 savings plan to make their money grow. That will help a lot, but what parents may not know is that how they later spend the money is just as important as how they save.

In the best possible scenario, you would combine 529 funds with help from the government to cover the complete cost of college for you or your child, but government help is often income-based and that’s where handling those 529s strategically comes in.

When and How to Spend 529 Funds

Recently, a Wall Street Journal columnist advised that once a child reaches college, it might work to the family’s advantage to spend all 529 funds in the first two years in the hopes of getting financial aid in the third and fourth years – if the parents expect a high-expense or low-income year. Good advice? We decided to check it out with other experts. The variety of advice we found made it clear that parents should consult a college loan expert for the correct advice for their situation.

Cash out quickly, if you’re a student or parent. Gretchen Cliburn, CFP, Senior Managing Advisor at BKD Wealth Advisors in Springfield, MO, says, “Money held in 529 accounts owned by the student or one of their parents is considered to be parental assets on the FAFSA. If you know your education costs will exceed your 529 savings, I would recommend spending the 529 balance first before borrowing any money.”

But not if you think you might have trouble getting a loan later on. Running through 529 funds in the first two years – instead of taking advantage of available loans – can backfire, says Joseph Orsolini of College Aid Partners. “Families really need to budget out the four years of college to determine the best course of action with spending savings and borrowing. I have seen a number of families spend down their 529 accounts in the first couple of years, but later run out of money and not be able to borrow (due to bad credit) in the final years,” he warns. “These students are left without resources to finish college.”

Orsolini agrees. “Low income is a relative term for people. Dropping from $150k to $100k is a huge reduction, but in most cases it will not result in any additional financial aid,” he says. “If your child is at an elite college that matches 100% of need, it might be worth relying on this strategy, but most colleges will not increase an aid package simply for spending down your 529 fund.”

Hold back, if you’re a grandparent. There are circumstances when it might be best to refrain from using the money until the student’s later years, according to Ryan Kay, a certified financial planner. “One important aspect to remember while considering when to spend the 529 money is who owns the plan,” Kay says. “If a grandparent is the owner, for example, and he or she distributes funds from the 529 plan, the money will count as student income for next year’s FAFSA and could negatively impact the student’s ability to qualify for financial aid. So when the grandparent is the owner, often times it’s best to leave the money in the 529 plan until the student has filed the final FAFSA (January 1 of their junior year of college).”

Factor in the Tax Credit

The American Opportunity Tax Credit offers a tax credit of up to $2,500 when you have spent $4,000 on tuition, fees, textbooks and other course materials. However, it phases out at certain income levels ($180,000 for married couples filing jointly in 2015, for example). Also, you can’t use the same expenses to justify both a tax-free distribution from a 529 plan and take the tax credit – there’s no double dipping.

“The tax credit is worth more per dollar of qualified expenses than the tax-free 529 plan distribution, even considering the 10% tax penalty and ordinary income taxes on non-qualified distributions,” says Mark Kantrowitz, publisher and VP of Strategy, Cappex.com. “Families should prioritize $4,000 in tuition and textbook expenses to be paid for using cash or loans before relying on the 529 plan. Otherwise, [it’s preferable] to spend down the 529 plan balance as quickly as possible, so that the assets do not persist year after year to reduce aid eligibility by 5.64% of the asset value.”

The Bottom Line

Like most financial questions, there are a lot of what-ifs, but in general, our experts recommend other practices rather than spending all the 529 money now and betting on the future. However, for some people, they note, the strategy could represent a cost savings.


What Happens to Investors’ Money When a Hedge Fund Fails?

William Ackman and David Berkowitz formed hedge fund Gotham Partners LP in 1993 and established its offices in New York City. The two former classmates from Harvard Business School initially did well and took the fund from its startup value of $30 million to $300 million by making a range of diversified investments. However, the partners then began to pursue a different path and acquired a number of private companies, as well as thinly traded public ones. In 1997, Gotham bought Gotham Golf, a golf course operator that continued to get into more and more debt. To address this issue, Ackman tried to merge the failing company with First Union Real Estate Equity and Mortgage, which had a lot of cash on its balance sheet. After obstacles to the merger arose, and with the fund’s other investments being illiquid, investors in Gotham Partners began asking for their money back. As a result, Ackman and Berkowitz had to close the hedge fund down.

In contrast with mutual fund managers, hedge fund managers typically have freedom to select their funds’ holdings as they wish, and investors receive only limited disclosures concerning those holdings. Illiquid instruments such as mining rights agreements, industrial and real estate contracts often appear in hedge fund portfolios, in addition to more liquid stocks and bonds. Other speculative and frequently illiquid investments like credit default swaps may also be held by hedge funds. The degree of illiquidity in a fund’s portfolio is a significant factor in determining the fund’s risk of ruin.

Requests for Redemptions

The less successful a hedge fund is, the more likely investors are to request redemptions to get their money at risk back. Funds may have to sell some of their asset portfolio to satisfy redemptions. The problem here is that illiquid assets are harder, and usually take more time, to convert to cash. Because the financial viability of a fund may be threatened if too many investors ask for redemptions at one time, hedge funds typically impose restrictions on redemptions, known as gates. An example of a gate is a lock-up period. Normally, investors may request redemptions four times a year on a quarterly basis. Many funds require advance notice of a number of months before a redemption will be made.

Stocks and bonds, generally the most liquid part of a fund’s portfolio, may quickly drop in value in the event of a market downturn. At such times, illiquid and speculative investments fall in value even faster because investors flee from risk. Liquidating assets in a downturn would greatly disadvantage a fund, and therefore funds often retain the prerogative to suspend redemptions in economic down cycles. Investors then cannot access their cash in time of greatest need.

In-Kind Asset Distribution and Dissolution

Many hedge funds offer superior redemption rights to lead investors, allowing them to redeem with less notice than other investors. Under fund partnership agreements, managers may be allowed to segregate some assets from the right to redeem. These agreements typically apply to hard-to-value assets. There may be provisions in such agreements that permit the manager to distribute assets in-kind to investors, especially with regard to illiquid assets.

Despite these considerations and the conditions imposed by fund partnership agreements, it’s important to recognize that there is a tipping point that, when reached through a sufficiently large number of simultaneous redemption requests, renders fund operations impossible. Confronted with a flood of redemption requests, a fund manager may decide upon complete dissolution of the fund and liquidation of all its assets. This is the situation in which Gotham Partners found itself. Investors should then be informed that they will be cashed out over a reasonable time period. When an investor decides that his money has not been returned on a sufficiently timely basis or to an acceptable extent, he may seek recourse through the courts. The terms and conditions of the fund’s partnership agreement and the value of the fund’s remaining assets are critical elements in the resolution of such a legal action.


3 High-Paying Academic Jobs With Good Pensions

It pays to stay in school, especially when you are doing the teaching. Faculty and staff at accredited U.S. universities are among the handful of remaining American workers who still receive excellent pensions along with high base pay. In fact, pay and benefits for academic posts grew during the most recent recession. The reasons for this are clear; it is difficult to open an accredited school, so university posts are limited. Meanwhile, pent-up demand for college degrees means schools can charge high tuition costs and pay attractive salaries without losing students.

Average salaries for certain teaching or administrative positions exceed $100,000 per year. The highest earners are paid millions of dollars, and sometimes for just nine months of work. You often need to clear a high threshold to get one of these spots; most of these jobs require advanced degrees and years of quality work in the field, plus the right connections.

Law Teachers, Postsecondary

Legal training is in a transitory period. After decades of swollen ranks, enrollment in law schools plummeted after the Great Recession. Bar exam pass rates also fell, and many J.D.-awarded graduates find themselves without direction in crowded specialties. Fortunately for law professors, these troubles seem to stop short of academic posts.

Median wage rates for tenured American instructors exceed $140,000 per year, plus another 5% in pension contributions. This is by far the highest-paying teaching field, edging out engineers and business management by more than $20,000 on average. The top 25% of law professors averaged $216,465 during 2015. The top 10% averaged over $270,000, a rate reached by just 0.1% of non-law professors.

Senior-Level Administrative Staff

College administrative expenses grew by 60% between 1993 and 2009, according to Department of Education figures. That rate relaxed a little between 2010 and 2015, but there is no question that bloated administrations are partially to blame for rising tuition rates. While this is bad news for student loans, it is likely very good news for college administrative jobs, the most lucrative of which earn above $200,000 per year.

The College and University Professional Association for Human Resources conducted a higher education salary survey for the 2015-2016 school year from over 1,100 reporting institutions. It identified dozens of administrative positions with median pay above $100,000 per year and intact benefits. The average provost, for example, brought home $193,136 and a comfortable 4.6% pension rate. College chief financial officers (CFOs) averaged $175,000.

Specialized deans were among the most compensated. The typical dean of agriculture made $251,000. The salary was $210,000 for architecture, $231,000 for computer and information services, $217,000 for forestry and environmental studies, $312,000 for law, $337,000 for dentistry and an estimated $500,000 for medicine.

Even non-deans reported excellent salaries, and frequently pension contributions above 4% of base pay. A position entitled chief diversity officer had a median pay above $120,000 per year. Chief library officers earned just under $100,000, and the chief campus major gifts administrators earned above $104,000.

Engineering Teachers, Postsecondary

It is generally a good idea to study engineering. Every year, engineering dominates the top 10 paying majors for American graduates. It is also a good idea to return to school and teach engineering students. This is true for computer engineers, chemical engineers, mechanical engineers, electrical engineers and petroleum engineers. The median pay for generic engineering professors is approximately $120,000, but specialists at engineering schools can do much better.

For example, the average effective annual salary reported for professors at the Colorado School of Mines during the 2013-2014 school year was $177,588. This was more than twice the average salary for all American professors in 2015-2016. The top-paying schools in America, for engineering or otherwise, include Dartmouth, Boston College, Georgetown, Duke, Princeton, MIT, Penn, Yale, Columbia, NYU, Harvard and the University of Chicago.


6 Questions to Ask a Financial Advisor

Finding a financial advisor who is right for you is an important process. A good financial advisor is there to prevent you from making decisions that would have a negative, unintended impact on you. Who wouldn’t love to have a financial coach to keep you on track to achieve your financial goals?

Just like with any working relationship, it’s a good idea to interview advisors until you find the one who is the best fit for you, your life, and your financial goals. Since you are entrusting your financial well-being to someone, you should get to know them and their financial planning and investing philosophy before committing to a long-term relationship.

As you may have heard the Department of Labor (DoL) has just released its new fiduciary rule in its final form. We previously wrote about the reasons why someone would oppose this rule considering it was created to improve financial transparency and eliminate conflicted advice from advisors. While this rule would still allow advisors to keep their “conflicted” commissions in some instances, it would require advisors to act as fiduciaries (a.k.a. “best interests contract”) when handling client’s retirement accounts.

We have long been proponents of more transparency and conflict-free advice and feel this is a step in the right direction.

So how does this affect your search for the right financial advisor? Here are 6 questions to ask to help you in your search.

1. Are You a Fiduciary? (Are You Always a Fiduciary?)

As we mentioned earlier, this new rule will only require financial advisors to act as a fiduciary for client’s retirement accounts. A fiduciary is regulated by federal law and must adhere to strict standards. They must act in the client’s best interest, in good faith, and they must provide full disclosure regarding fees, compensation, and any current or potential conflicts of interest.

Until now, broker-dealers, insurance salesman, bank and financial company representatives, and others were only required to follow a Suitability Standard. That means they only had to provide recommendations that are “suitable” for a client – based on age or aversion to risk for example – but this may or may not be in that client’s best interest.

The brokerage industry, as you can probably imagine, and all those who earn their compensation from commissions are strongly against these new rules.

Even with this new law passed, we feel it is important to make sure your advisor is acting as a fiduciary when dealing with any of your finances, not just retirement accounts.

2. What is Your Fee Structure? (Difference Between Fee-Only, Fee-Based and Commission)

Advisors throw out terms like “fee-based” and consumers assume that is the same as “fee-only.” Being “fee-only,” as Sherman Wealth Management is, means that a firm is paid exclusively by its clients, meaning it is conflict-free. A “fee-only” firm does not get commissions from the investments or products it recommend. It does not get bonuses based on how many clients it gets to invest in company products. Many “fee-only” firms are paid an hourly or quarterly fee by their clients, as we are.

Think of it this way: would you want to work with an accountant who also gets commissions from the IRS? Of course not. You want your accountant to represent your best interests. Would you go to a doctor who makes money each time he prescribes penicillin? No, you want your doctor to prescribe what is right for you.

Do not assume that an advisor is following a fiduciary standard with their compensation now. The new rules will not be enforced until 2018. Ask your financial advisor to clearly specify their fees. With many layers of diversification that can be applied to your portfolio, you want to be aware of whether you are exposed to up-front charges, back-end fees, expense ratios, and/or whether a percentage of your returns will be deducted.

3. Why Are They Right for You?

A financial advisor should be able to tell you their strengths and what sets them apart. Some advisors will advise on investments while others specialize in comprehensive financial planning. While you may think all advisors are the same, and it certainly may seem like that on the surface, by now you should be seeing that is not the case.

Ask how involved they are with their client’s portfolios. Are they hands-on in their approach? How available are they for their clients’ needs?

Do they serve a wide-range of clients, from young first-timers who are just getting started with investing and financial planning, to experienced savers, to high-net-worth investors who are well on their way to financial independence?

In today’s world you don’t just want a trusted advisor, you want instant access to your accounts and the progress you are making. Does they advisor you’re considering utilize the latest in financial services technology tools?

The relationship with your financial advisor is an important one. You need to feel comfortable working with them.

4. What is Your Investment Philosophy?

Every financial advisor has a specific approach to planning and investing. Some advisors prefer trying to time the market and actively manage funds versus passive investments. Others may seek to gain high returns and make riskier investments. Your goals and risk tolerance need to align with the advisor’s philosophy.

When anyone invests money, they are doing so with the hopes of growing it faster than inflation. While some traditional investment managers not only want to generate a profitable return, they aim to beat the market by taking advantage of pricing discrepancies and attempting to time the market and predict the future. Some investment companies offer “one-size-fits-all” investment management solutions that only take into account your age and income.

Others, like us, believe an individual’s best chance at building wealth through the capital markets is to avoid common behavioral biases in the beginning and utilize a well thought out, disciplined, and long-term approach to investing. We believe that the best financial advisors create a well-diversified, customized portfolio that focuses on tax efficiency, cost effectiveness, and risk management. Read more about how we do this.

Make it a top priority to understand the strategy your advisor uses and that you are comfortable with it.

5. How Personalized Are Your Recommendations for Your Clients?

It is important that your financial advisor tailors your financial plan to your specific goals. Your retirement plan and investment strategy should be customized to take into account your risk tolerance, age, income, net-worth, and other factors specific to your situation. There should not be a one-size-fits-all approach to managing your money.

Some traditional brokers and insurance companies are so big that it becomes impossible for them to give you a truly individualized experience. They have a corporate agenda that they must follow and it can restrict the service they provide to you.

Look for a firm that will help you build a strong foundation and grow with them, not by profiting off good or bad trades. This kind of partnership affords your advisor the opportunity to create individual strategies and plans that are uniquely suited to each client, not just a cookie-cutter plan based on age, income, or broadly assessed risk tolerance.

6. Do You Have Any Asset or Revenue Minimums?

Some have argued that the proposed DOL rule will end up hurting the small investor because larger institutions will not be willing to serve small accounts. This logic is fundamentally backward and flawed, as those clients were never on their radar to begin with. In fact, the ability for these large institutions to generate commissions and thus charge more to these small investor clients have driven that business, without regard to the best interests of the individual investor.

For example, in a company statement quoted by Janet Levaux in Think Advisor, Wells Fargo, the most valuable financial institution in the world according to the Wall Street Journal, said that in 2016, “bonuses will be awarded to FAs with 75% of their client households at $250,000.”

Wells Fargo isn’t the only large institution effectively ignoring Millennials and other smaller and entry-level clients. Most of the corporate institutions prefer high-net-worth clients because it creates “efficiencies of scale” and a higher profit margin on larger trades.

The complaints against the new DOL rule have nothing to do with protecting the little guy. Rather, the complaints are driven by the desire of commission-based large institutions, insurance companies and broker-dealers who are trying to protect their ability to generate commissions and charge clients unnecessary fees.

Make sure you understand your advisor’s motivations. If they don’t want you, why should you want them?

The views expressed in this blog post are as of the date of the posting, and are subject to change based on market and other conditions. This blog contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected.

Please note that nothing in this blog post should be construed as an offer to sell or the solicitation of an offer to purchase an interest in any security or separate account. Nothing is intended to be, and you should not consider anything to be, investment, accounting, tax or legal advice. If you would like investment, accounting, tax or legal advice, you should consult with your own financial advisors, accountants, or attorneys regarding your individual circumstances and needs. No advice may be rendered by Sherman Wealth unless a client service agreement is in place.