Podcasts about finra

Send us Fan MailPreferred stock shows up all over the Series 7, and it can feel more complicated than it really is.In this episode, we make it smaller.We cover the preferred stock concepts you need to know for the exam, including:• Preferred stock vs. common stock vs. bonds• Fixed dividends and $100 par value• Current yield• Dividend priority and liquidation priority• Cumulative vs. noncumulative preferred• Dividends in arrears• Participating preferred• Adjustable-rate preferred• Convertible preferred• Callable preferred• Conversion ratio and conversion value• Call risk and reinvestment risk• The biggest preferred stock traps you'll see on the Series 7The big idea:Preferred stock is EQUITY.It may act a little like a bond because of its fixed dividend, but preferred shareholders are owners — not creditors.Remember the pecking order:DEBT → PREFERRED → COMMONAnd when you're calculating current yield:Annual dividend ÷ Current market priceThis episode is designed to help you learn preferred stock through repetition, music, examples, and rapid-fire review so the concepts stick when you sit for the exam.

https://www.gethookd.ai/learn/6-best-financial-advisor-facebook-ad-examples-tips-for-2026/With average click-through rates sitting at just 2.7%, most financial advisor Facebook ads are quietly wasting budget. Which of six proven formats actually earns trust before the sale - and why does one FINRA rule change everything about how you run them? GetHookd LLC City: Miami Address: 40 SW 13th street Website: https://www.gethookd.ai/

In this episode of Must Read Research on Global Research Unlocked, Head of Global Research Candace Browning explores how markets are pricing the probabilities that matter most. We discuss why Treasury yields continue to track Federal Reserve expectations more closely than economic data, how tightening inventories and supply disruptions are supporting an emerging agricultural bull cycle, and why Korea's next growth phase may extend well beyond memory chips into infrastructure, consumer, and healthcare industries. We also examine the rapid evolution of prediction markets, where trading volumes have surged as platforms expand beyond politics into sports, crypto, and other event-driven markets.   "Bank of America" and “BofA Securities” are the marketing names for the global banking businesses and global markets businesses (which includes BofA Global Research) of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Securities, trading, research, strategic advisory, and other investment banking and markets activities are performed globally by affiliates of Bank of America Corporation, including, in the United States, BofA Securities, Inc. a registered broker-dealer and Member of FINRA and SIPC, and, in other jurisdictions, by locally registered entities. ©2026 Bank of America Corporation. All rights reserved.

How will recent events affect overall positioning for the remainder of the year? • Learn more at thriventfunds.com • Follow us on LinkedIn • Share feedback and questions with us at podcast@thriventfunds.com • Thrivent Distributors, LLC is a member of FINRA and a subsidiary of Thrivent, the marketing name for Thrivent Financial for Lutherans. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The continued rise in consumer prices will have multiple effects going forward, notes Deepak Puri, the Private Bank's Chief Investment Officer for the Americas, beyond the pressure it places on central-bank policy. “We are in the midst of an inflationary boom, which means that the growth numbers are going to be much higher,” Deepak says. “There is a concern that further policy adjustments are still needed to ensure inflation comes back to the stated target. And there's also a concern that the longer the higher inflation persists, the more challenging it's going to be to bring it down.”With corporate earnings season nearly upon us, Deepak says that markets will be watching for a continuation of the strong reports seen in 2026. “The reason why we're using the term ‘earning super cycle' is because it is really a golden age for earnings,” Deepak says. “The stock market would love to see a continuation of the very strong earnings that we have had so far this year.”In the week ahead, jobs data and the Federal Reserve's preferred inflation gauge are likely to get a lot of attention, but Deepak also points to matters of interest in the political world, including the conclusion of the recent Trump-Xi summit, and polling data that is consistently pointing to a likely strong showing for Democrats in the midterm elections.For more investing insights, please visit wealth.db.comIn Europe, Middle East and Africa as well as in Asia Pacific this material is considered marketing material, but this is not the case in the U.S. No assurance can be given that any forecast or target can be achieved. Forecasts are based on assumptions, estimates, opinions and hypothetical models which may prove to be incorrect. Past performance is not indicative of future returns.Performance refers to a nominal value based on price gains/losses and does not take into account inflation. Inflation will have a negative impact on the purchasing power of this nominal monetary value. Depending on the current level of inflation, this may lead to a real loss in value, even if the nominal performance of the investment is positive. Investments come with risk. The value of an investment can fall as well as rise and you might not get back the amount originally invested at any point in time. Your capital may be at risk.The services described in this podcast are provided by Deutsche Bank AG or by its subsidiaries and/or affiliates in accordance with appropriate local legislation and regulation. Deutsche Bank AG is subject to comprehensive supervision by the European Central Bank (“ECB”), by Germany's Federal Financial Supervisory Authority (BaFin) and by Germany's central bank (“Deutsche Bundesbank”). Brokerage services in the United States are offered through Deutsche Bank Securities Inc., a broker-dealer and registered investment adviser, which conducts investment banking and securities activities in the United States.Deutsche Bank Securities Inc. is a member of FINRA, NYSE and SIPC. Lending and banking services in the United States are offered through Deutsche Bank Trust Company Americas, member FDIC, and other members of the Deutsche Bank Group.The products, services, information and/or materials referred to within this podcast may not be available for residents of certain jurisdictions. © 2026 Deutsche Bank AG and/or its subsidiaries. All rights reserved. This podcast may not be used, reproduced, copied or modified without the written consent of Deutsche Bank AG. 030620 030121

CoinDesk's The Policy Protocol hosts Rebecca Rettig and Renato Mariotti unpack the stalling of the CLARITY Act in the Senate before sitting down with Taylor Lindman, Chief Counsel of the SEC's Crypto Task Force, who explains why the newly unveiled innovation exemption is being resoundingly well-received across TradFi and crypto, and how much the SEC can accomplish under existing authority without Congress. Lindman also weighs in on 24/7 markets and reassures that the Crypto Task Force's work continues regardless of Commissioner Hester Peirce's departure. Plus, Rebecca and Renato debrief on whether AI needs its own regulator, and name Demis Hassabis as their Person of the Week for proposing a FINRA-style standards body for frontier AI models. - This episode is brought to you by Grayscale, the world's largest digital asset-focused investment platform. Grayscale's mission is to make digital asset investing simple and open to every investor. Learn more at grayscale.com. - This episode is brought to you by RealFi, a smarter stablecoin, backed by real-world assets. Join the Testnet now at realfi.co. - Chapters/Timecodes: 00:00 Welcome to The Policy Protocol 01:09 Hot Topic: CLARITY Stalls in the Senate 02:06 The Ethics Fight That Sank the Bill 03:28 Why the Regulators Are Now Leading 03:47 How Hard It Is to Undo a Rule 05:13 EU Rolls Back MiCA as the UK Pushes Ahead 05:52 The SEC and CFTC Roundtable Blitz 06:46 Taylor Linman, SEC Crypto Task Force, Joins 06:56 The Innovation Exemption and Its Reception 08:52 What the SEC Can Do Without Congress 11:11 Inside the 24/7 Trading Roundtable 12:00 Liquidity Providers, Dealers, and the Cold Start Problem 13:31 Piecing Together the Future of On-Chain Trading 16:17 Does Peirce's Exit Change the Task Force? 17:04 Debrief: Plumbing, Not Main Character Energy 18:28 Person of the Week: Demis Hassabis 20:05 Does AI Need Its Own Regulator?

Please join Ralf Preusser in discussion with Mark Capleton, Evelyn Herrmann, Stephen Juneau and Meghan Swiber. We will discuss the upcoming inflation prints in the Euro Area and the US. In light of the recent run up in commodity prices, inflation is back in the driving seat for central bank reaction functions and as a result rate curves. We will discuss where we see opportunities in rates and inflation markets.   "Bank of America" and “BofA Securities” are the marketing names for the global banking businesses and global markets businesses (which includes BofA Global Research) of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Securities, trading, research, strategic advisory, and other investment banking and markets activities are performed globally by affiliates of Bank of America Corporation, including, in the United States, BofA Securities, Inc. a registered broker-dealer and Member of FINRA and SIPC, and, in other jurisdictions, by locally registered entities. ©2026 Bank of America Corporation. All rights reserved.

Robert and Austin answer your questions!---

Nizam Missaghi left his native Iran after the completion of high school due to being deprived of access to higher education as a religious minority in the Islamic Repulic. As a teenage boy, he risked everything to escape religious persecution and chase his dream of freedom and becoming a doctor. His story reveals that while governments may deny freedom, the human spirit can reclaim it. His new book, "Passport to Freedom: From Tehran to Triumph" is available wherever books are sold. Dr. Missaghi is currently an anesthesiologist in Arizona, the founder of The Simpatico Foundation, and Chair of the Board of the Iran Human Rights Documentation Center. This podcast is for informational purposes only. Guest speakers and their firms are not affiliated with or endorsed by PAS or Guardian. This material contains the current opinions of the speakers but not necessarily those of PAS, Guardian or its subsidiaries and such opinions are subject to change without notice. None of the organizations mentioned in this podcast have any affiliation with Guardian or PAS. Bryan Kuderna is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 50 Tice Blvd. Woodcliff Lake, NJ 07677 (973)244-4420. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. Kuderna Financial Team is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License #OK04194  #9147386.1 exp. 9/28

Consumer strength, lower-income spend improving Much of the consumer survey data suggests that consumers feel squeezed and are increasingly frustrated by inflation, but BAC credit and debit card spending data tells a different, more positive story. And importantly, it's not just higher income consumers who are spending. Recent data has shown improving growth from lower income consumers, even when excluding gasoline. Aditya Bhave, Head of US Economics for BofA Global Research, and Chris Nardone, Hardline and Broadline Retail analyst for BofA Global Research discuss whether other data is telling the same, encouraging consumer story and whether retailers generally agree with this more positive depiction of the US consumer. They also address what's ahead-especially as tariff refunds will be less helpful for companies next year and the consumer faces a winter with high gasoline prices and record diesel/heating oil.   Bank of America" and “BofA Securities” are the marketing names for the global banking businesses and global markets businesses (which includes BofA Global Research) of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Securities, trading, research, strategic advisory, and other investment banking and markets activities are performed globally by affiliates of Bank of America Corporation, including, in the United States, BofA Securities, Inc. a registered broker-dealer and Member of FINRA and SIPC, and, in other jurisdictions, by locally registered entities. ©2026 Bank of America Corporation. All rights reserved.

What happens when you harness the grit, discipline, and competitive spirit of elite collegiate athletics and transform it into a lifelong network?

In this episode of Must Read Research on Global Research Unlocked, Head of Global Research Candace Browning examines economies moving in different directions as inflation, policy, and investment trends continue to reshape the global landscape. We explore why the Federal Reserve may be at the start of a new tightening cycle, rising optimism toward Brazil despite election uncertainty, and how Australia's artificial intelligence investment boom could create inflationary pressures before delivering productivity gains. We also look at the accelerating commercialization of autonomous vehicles as driverless transportation moves from pilot programs toward broader deployment.   "Bank of America" and “BofA Securities” are the marketing names for the global banking businesses and global markets businesses (which includes BofA Global Research) of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Securities, trading, research, strategic advisory, and other investment banking and markets activities are performed globally by affiliates of Bank of America Corporation, including, in the United States, BofA Securities, Inc. a registered broker-dealer and Member of FINRA and SIPC, and, in other jurisdictions, by locally registered entities. ©2026 Bank of America Corporation. All rights reserved.

Fixed income has taken the spotlight in financial markets, as yields have jumped just about everywhere — and there are several reasons behind the shift, says Christian Nolting, the Private Bank's Global Chief Investment Officer. “Bonds have been a massive driver for markets, not only on the fixed income side, but also for equities,” Christian says, adding that energy prices, concerns about debt sustainability, and high levels of bond issuance are all supporting the move.Readings on consumer sentiment in the US and eurozone are due in the week ahead. But Christian points to an expected meeting between US President Trump and Chinese President Xi as noteworthy for markets, as topics for discussion could include conflicts in the Middle East, energy prices, and artificial intelligence. For more investing insights, please visit wealth.db.comIn Europe, Middle East and Africa as well as in Asia Pacific this material is considered marketing material, but this is not the case in the U.S. No assurance can be given that any forecast or target can be achieved. Forecasts are based on assumptions, estimates, opinions and hypothetical models which may prove to be incorrect. Past performance is not indicative of future returns.Performance refers to a nominal value based on price gains/losses and does not take into account inflation. Inflation will have a negative impact on the purchasing power of this nominal monetary value. Depending on the current level of inflation, this may lead to a real loss in value, even if the nominal performance of the investment is positive. Investments come with risk. The value of an investment can fall as well as rise and you might not get back the amount originally invested at any point in time. Your capital may be at risk.The services described in this podcast are provided by Deutsche Bank AG or by its subsidiaries and/or affiliates in accordance with appropriate local legislation and regulation. Deutsche Bank AG is subject to comprehensive supervision by the European Central Bank (“ECB”), by Germany's Federal Financial Supervisory Authority (BaFin) and by Germany's central bank (“Deutsche Bundesbank”). Brokerage services in the United States are offered through Deutsche Bank Securities Inc., a broker-dealer and registered investment adviser, which conducts investment banking and securities activities in the United States.Deutsche Bank Securities Inc. is a member of FINRA, NYSE and SIPC. Lending and banking services in the United States are offered through Deutsche Bank Trust Company Americas, member FDIC, and other members of the Deutsche Bank Group.The products, services, information and/or materials referred to within this podcast may not be available for residents of certain jurisdictions. © 2026 Deutsche Bank AG and/or its subsidiaries. All rights reserved. This podcast may not be used, reproduced, copied or modified without the written consent of Deutsche Bank AG. 030620 030121

Send us Fan Mailregulatory framework established by FINRA for governing how financial firms communicate with the public. It distinguishes between retail, institutional, and correspondence categories, outlining specific pre-filing and post-use submission timelines based on the type of investment product and the firm's membership tenure. Key requirements include mandatory approval by a qualified principal for most retail materials to ensure compliance with industry standards. The documentation also lists various filing exceptions, such as for prospectuses or previously approved templates, while offering pathways for voluntary submissions. Ultimately, these guidelines serve to maintain market transparency and protect investors from misleading promotional content.Support the show

Income investing has evolved beyond traditional bond coupons and stock dividends, with investors increasingly turning to derivatives-based strategies across a wide risk spectrum. As structured products and derivatives-linked ETFs continue to gain traction, income is increasingly being viewed as an investment outcome rather than simply an investing style. In this episode of Signals & Noise, Abhinandan Deb, Head of Global Cross-Asset Quantitative Investment Strategy at BofA Securities, joins Nitin Saksena, Head of US Equity Derivatives Research, to discuss the rapid growth of derivatives income strategies. They explore the forces driving investor demand, why option-based income remains attractive despite higher bond yields, and how these strategies may complement traditional income sources in diversified portfolios.     "Bank of America" and “BofA Securities” are the marketing names for the global banking businesses and global markets businesses (which includes BofA Global Research) of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Securities, trading, research, strategic advisory, and other investment banking and markets activities are performed globally by affiliates of Bank of America Corporation, including, in the United States, BofA Securities, Inc. a registered broker-dealer and Member of FINRA and SIPC, and, in other jurisdictions, by locally registered entities. ©2026 Bank of America Corporation. All rights reserved.

Please join Ralf Preusser in conversation with Agne Stengeryte, Meghan Swiber, and Tomonobu Yamashita. We will review the Fed, the BoE and the BoJ and discuss implications for global rate and FX markets. The Fed delivered a hawkish hike and joined the global tightening cycle. The repercussions of this decisions have already had strong effects across yield curves and currencies. We discuss the FOMC decision in the context of the other central banks on the docket this week.   "Bank of America" and “BofA Securities” are the marketing names for the global banking businesses and global markets businesses (which includes BofA Global Research) of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Securities, trading, research, strategic advisory, and other investment banking and markets activities are performed globally by affiliates of Bank of America Corporation, including, in the United States, BofA Securities, Inc. a registered broker-dealer and Member of FINRA and SIPC, and, in other jurisdictions, by locally registered entities. ©2026 Bank of America Corporation. All rights reserved.

Robert and Austin answer your questions!---

Being named the executor of someone's will can feel like an honor. It can also feel like a lot of pressure. It's more than handing out inheritances. It's paperwork, accounts, taxes, property, creditors, and sometimes family dynamics, stretched out over months or even years. A lot of clients end up in this role without ever planning to, and we're often the first call they make. Let's talk through how we help.   Important Links: Website: http://www.yourplanningpros.com Call: 844-707-7381   ----more---- TRANSCRIPT:    Speaker 1: Being named the executor of someone's will can feel like an honor, and it can also feel like a lot of pressure. It's more than just handing out inheritances. It's paperwork, accounts, taxes, property, creditors, and sometimes unpleasant family dynamics. So this week on Plan with the Tax Man, let's talk about the honor and the headache of being an executor.   Hey, everybody. Welcome to the podcast. Thanks for hanging out with Tony and myself here as we talk about investing, finance, and retirement. And Tony, as I teed up in the teaser there, it's some things that maybe you don't know about being an executor, some of the headache sides of things. It's a nice honor that someone, your parent typically maybe names one of the children, for example, to do this. But it does come with pressure and some things that can catch you off guard. So I thought it'd be good today to highlight some of this stuff.   Tony Mauro: I think it's a great topic, because it's relevant in my world because I have several clients going through it now, a couple of family members, and then one that is a friend of a client. They're both clients. One passed away and the friend is named executor, so he's in a whole new role dealing with family that is not his family.   Speaker 1: Okay.   Tony Mauro: It's a whole dynamic.   Speaker 1: Whole dynamic. I do want to note here, Tony, that this episode is not about giving legal advice, you are not an estate attorney, but rather the role that advisors that you and your team play, and questions that you often get or hear when a client has become an executor. So we're going at it from that standpoint.   Tony Mauro: Yeah. I think that that's good, because we work closely with the estate attorneys, and they're the ones directing the legal side. We try to help out the executor, as we'll go through here-   Speaker 1: Sure.   Tony Mauro: ... on everything else.   Speaker 1: Yeah, yeah. I just want to make sure we clarified that for folks listening.   Tony Mauro: Yeah.   Speaker 1: When a client finds out they have been named executor, Tony, what does that first conversation with them sound like from your end, or what are some bullet points here that folks might want to think about or need to know?   Tony Mauro: Well, some of the things that we tell them right up front is, I ask them point-blank, "How much do you know, if anything, about being an executor?" Most don't know anything because most are surprised that they are, even sometimes kids. And so they really don't have any idea what's involved with it, even if it's a very simple, straightforward estate. It could go anything from very simple, all the way up to very complex. But I try to tell them, "This is going to be a time period. It's not going to happen in 30 days. Depending on how complex it is, it could be months to several years. There's going to be documents needed. There's probate. There's taxes." I try to lay all that out on a timeline so that I can get them thinking... "Don't get yourself overwhelmed. We'll help you. The estate attorneys will help you. You've just got to take one step at a time. Sometimes you hit roadblocks and you've got to move on." So that's the first thing we tell them.   The other thing is if they've already got an estate tax attorney working on it, which they usually do.   Speaker 1: Right.   Tony Mauro: If not, we'll refer them. But we try to point out to them things... Because they get confused on what passes by will and what passes by what I call contract or outside of the will, in other words, goes directly to beneficiaries, and try to just have a conversation with them about that. That at least gets them going.   Speaker 1: Okay. Yeah. And I imagine that a lot of times, Tony, as you've already alluded to with some different clients going through it, if a client's parent, which is usually the case, or family member has told them that they will be the executor someday, how do you prepare them for that now? Obviously, being told ahead of time does give you a little time to prepare, I would assume.   Tony Mauro: Yes. It gives you some time. And really, we try to have the conversations about mostly of, okay, trying to get your parents or whoever you're the executor for to give you access, or at least let you know where documents are, what kind of accounts they have, what kind of assets they have, who the professionals they're working with right now are, just in case. If you can get that while they're still alive, along with helping the executor with some of the things that I just talked about, which they probably don't know, and just being ready to raise your hand and say, "Okay. I don't know this. Who do I ask when the time comes?" I think that basically is what we try to tell them.   We'll always try to be there for them. I tell them that. I tell them, "Let the attorneys do their thing. I'm not an attorney. But we will help you and we will work with them with you." They're usually more than willing to help, because they tend to not like anything tax and anything outside of really what they're good at.   Speaker 1: Yeah.   Tony Mauro: They being the attorneys.   Speaker 1: Yeah. And helping a client think through those pieces, again, they're coming to you for financial advice typically anyway, so now it's like, "Hey, I've got this extra wrinkle here. Is that something you can help me with?" That's just a nice little added value-add that comes with that component-   Tony Mauro: Yes.   Speaker 1: ... I guess, that legacy planning component, right?   Tony Mauro: Yeah.   Speaker 1: So once a client is actually now fully in that role, what do you guys do? You've touched on some of that already. But helping them get through it without, I guess, maybe that overwhelmed feeling, or even that rushed feeling if they found out maybe a bit late and it's like, "Hey, Tony, I just got named this. What do I do?" Right?   Tony Mauro: Yeah.   Speaker 1: "Where do I start?"   Tony Mauro: Yeah. Where do you start? We go through the timeline with them. We have some templates that we show them, and we'll start putting the timeline for their situation through the template so they've got it and they can follow it, which is kind of nice. Then we will start helping them start to gather the financial pieces that are going to help the attorneys as far as that goes. Plus, we might need it for a final income tax return and we might need it for an estate tax return, not the kind where you pay taxes.   But a lot of us executors don't know that when someone dies, the attorneys will open up a legal entity called the estate, and assets get transferred into that estate before they get distributed, and if they're in there long enough and they earn some money, if they're investments, they have to file a tax return. The estate's an entity. And so letting them know what's coming there, and then what the attorney's going to be needing from them, and really then just being a point of contact and working through the timeline and having regular check-ins, kind of like you do with a financial plan, of where are we at in the process on all this, and just monitoring it until the whole thing closes out.   Speaker 1: So Tony, you guys really do act as a steady point of contact then through this process. Is that fair?   Tony Mauro: Yeah. I mean, that's what we do. And like I say, with the timelines that we put in front of them, they have access to on their portal, and then some regular check-ins at different times. Obviously, I just had a call today with the guy I was talking about earlier, his story is a little bit unique, because him and the deceased were both clients of mine, both financial clients, both accounting clients and tax clients. The deceased was worth, and he was a young guy when he died here at the end of last year, about 15 million. And so my buddy, who was named the executor, he's working through a fairly complex estate. And on top of that, he's got some dynamics, because as the executor, the deceased left some very pointed instructions, "Don't maybe agree with what the family has in mind," so there's a lot of butting heads already going on.   And just a general statement, I've seen it so many times, it's amazing what happens when people die and siblings or relatives are squabbling about money. It's crazy. It tears families apart, which is why I would say, and I know every attorney would agree, you need to have a will in your financial plan, because you don't want to have... I mean, this guy had an ironclad will, so even though they don't agree with some things, that's what's in the will and that's the legal document, you know?   Speaker 1: Yeah.   Tony Mauro: But it sometimes puts the executor in a tough spot, because in this case, the executor is also charged with the deceased had two sisters that he's left some money to, but he wanted it in a trust, and they can only take out income, not the principal. And of course, they are fighting that, they don't want that, but they really can't do anything about it.   Speaker 1: Yeah. I was going to say, let's maybe clarify that too, right?   Tony Mauro: Yeah.   Speaker 1: So sometimes, I think when people get named executor, it doesn't mean you can just... You don't get to wholesale do what you want. You're not in charge of this whole dynamic, right? You don't get to just go, "Well, now, I have the power and I get to say who gets what," right?   Tony Mauro: Right.   Speaker 1: I mean, maybe a little bit, but for the most part, most of this stuff is usually spelled out. You're just making sure it all gets implemented. Is that correct?   Tony Mauro: Yeah. You're just making sure that everything gets implemented. You actually have some legal responsibilities, because if you're named executor, you're supposed to perform some duties. But what you do get to... Like in the case I was talking about, the executor in this case does have the ability, if the girls come to him and say, "I have a real bad need," he does have the authority to take out some principal and let them have it. But if he doesn't think it's a need or if it's something that they want to go blow money on, he could actually say no, which again, puts him in kind of a weird spot. I think most of the time, what executors do if they're doing it even with family is it's like, "Look, guys and gals, this is what Mom or Dad wanted. I'm the executor."   Speaker 1: Right.   Tony Mauro: "I've got to make sure that we follow what the will says because that's my legal duty."   Speaker 1: Yeah.   Tony Mauro: "You guys may not like it, maybe I don't even like it, but this is what we've got to do."   Speaker 1: Yeah. And this is where, Tony, conversations ahead of time before Mom or Dad or whoever passes ideally-   Tony Mauro: Yeah.   Speaker 1: ... come into play, because hopefully you can smooth some of those waters. I was thinking about this whole conversation, and I was chatting with my family about stuff as we were putting show notes together, and my daughter was like, she was like, "Yeah. I can't wait to get into a knockdown drag-out with all my siblings over what's left." The joke there being because she doesn't have any, so she doesn't have that problem, right? But a lot of families, especially when things are... When you've got an odd number, like three kids or five kids or whatever, or even grandkids or whatever, where it starts to get sticky. So this is where you really want to have those family chats and dynamics to hopefully shore that up to take some pressure off the executor from that emotional side too.   Tony Mauro: Yeah. From the emotional side, for sure. I'll tell you another area where families tend to squabble a little bit. Even if they can get through the will and they say, "Okay. We agree with all the money stuff coming out," is, "Okay, it's time to sell the house and the belongings."   Speaker 1: Yeah.   Tony Mauro: "Does anybody want anything?" And then there's really nothing in the will that generally says, "Hey, Susie gets my antique dishware," you know?   Speaker 1: Right, right.   Tony Mauro: So it's kind of up to a family agreement, and there can be squabbles over little things like that.   Speaker 1: Yeah, yeah. I heard an interesting one about that the other day, Tony. Somebody said they do an imaginary auction with fake resources. Not an imaginary, I guess they do a real auction. But they allot all family members this arbitrary amount of not real money. Somebody even said grab some Monopoly money and divide it all up, and then you just go through and you bid on the things you actually want that weren't totally decided, to your point, like the china or something like that.   Tony Mauro: Yeah.   Speaker 1: And basically, everyone agrees, and then it's like, okay, you only have so much, so if there's an item you wanted later and you've already spent all your money on bidding on this, well, then you can't get upset about it when you don't get it. I thought that was an interesting way, if you've got a good family dynamic, maybe that helps cut through the tension, and maybe that also is a way to bring some levity to the loved one passing. They might enjoy the fact that you guys made a fun little family bonding moment out of it.   Tony Mauro: The auction is an idea. We did something personally when my mom passed, she had some jewelry, and none of it was worth a whole lot.   Speaker 1: Right.   Tony Mauro: And I have two brothers, we weren't interested in it, but our wives and a few of the nieces wanted maybe something. So we said, "Look, we're not going to get into big arguments about this," because we all get along.   Speaker 1: Right.   Tony Mauro: What we did is everybody picked numbers, and they would pick a number. I think we had one through eight. And so whoever picked number one got their choice, and then number two gets next. So it goes up to eight-   Speaker 1: Oh, okay. Yeah.   Tony Mauro: ... down to one, up to eight, till everything's gone. That way, listen, it's just random. If you picked and you wanted something that's already taken, tough luck. Everybody agreed to that. We had fun with it. It was actually kind of a little party. Even my father kind of enjoyed it, and nobody at least was complaining to everybody else at the time.   Speaker 1: Yeah.   Tony Mauro: Maybe somebody wa disappointed they didn't get something.   Speaker 1: Yeah. And I'm glad to hear that, because obviously he's still around, he didn't take it as disrespectful to his-   Tony Mauro: No.   Speaker 1: ... spouse who's gone, right? So it's just a way to say let's avoid that family bickering, because, I mean, this is my phrase that I've said for years, Tony, and I think it's so apropos, money makes people funny. I mean, flat out, right?   Tony Mauro: [inaudible 00:14:12]   Speaker 1: And when somebody passes, it can unfortunately sometimes bring out the knives, bring out the claws.   Tony Mauro: It brings out some bad feelings-   Speaker 1: Yeah.   Tony Mauro: ... and then all the grievances, whether it's with your own family that you've been holding in or talking about for years come up.   Speaker 1: Right. Yeah, yeah.   Tony Mauro: It just is a mess. So I would encourage-   Speaker 1: And maybe not needed. Yeah.   Tony Mauro: And not needed. Yeah. I would encourage everybody to, again, I think as a non-legal advisor in some of this to an executor, I try to encourage them and everybody on some of that. You're going to have a little bit of roughness, but you've got to stay true to the course and try to make it as smooth as possible.   Speaker 1: Absolutely. Well, well said. Good stuff to cover here. Again, as we mentioned, if you need some help, definitely be checking with the qualified professionals and estate planning attorney, and sit down and talk with your advisor. A lot of times, if you don't have the attorney, they can recommend one, as Tony mentioned earlier. So if you need some help, find them online at yourplanningpros.com to start building this part of your strategy and legacy conversations as well, yourplanningpros.com. And don't forget to subscribe to us on Plan with the Tax Man on Apple or Spotify or whatever app you enjoy using. You can find all that information at the main website, and as well, get yourself some time onto the calendar. Tony, thanks for hanging out and breaking down this subject this week. I appreciate it.   Tony Mauro: All right. We'll talk to you on the next episode.   Speaker 1: Absolutely. We'll see you next time here on Plan with the Tax Man with Tony Mauro from Tax Doctor, Inc. And don't forget to reach out to them if you've got some questions at yourplanningpros.com. We'll see you next time.   Securities offered through Avantax Investment Services SM, member FINRA, SIPC. Investment advisory services offered through Avantax Advisory Services. Insurance services offered through an Avantax affiliated insurance agency. Investment strategies discussed in this episode may not be suitable for all investors. Please consult with a financial professional.  

CNBC reported that a Chinese AI company connected its large language model to leading Wall Street data providers, without naming the vendors or disclosing license details. The move highlights the convergence of finance specific copilots and strict market data contracts that govern non display use, derived data, and audit rights. Major providers like Bloomberg, Refinitiv, FactSet, S&P Global, and exchanges such as NYSE and Nasdaq dominate the market, which Burton Taylor estimated at $42.8 billion in 2023. Vendors have tightened clauses since 2023 to restrict model training without explicit permission and to require data lineage and kill switches. US export controls, sanctions screening, and data residency checks add compliance pressure, while Chinese laws on data and algorithms create additional obligations. Financial institutions remain responsible under SEC and FINRA oversight for vendor risk and data governance, pushing startups to build with granular entitlements and telemetry to win enterprise deals.Learn more on this news by visiting us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

The Fed hiked interest rates by a quarter point, impacting credit cards, car loans, and housing, while potentially boosting savings accounts. The Iran conflict has cost the US over $38 billion since late February, averaging $246 million daily, driving up oil prices and inflation. Target is unexpectedly expanding with eight new stores this fall and over 300 planned by 2035, investing billions in new locations and remodels, including Starbucks. August retail sales jumped 1.2%, a five-month high, fueled by higher gas prices and back-to-school shopping. Consumer spending remains strong despite inflation concerns. OpenAI and AARP are partnering on a 10-city tour to teach older Americans how to use AI to detect scams. ChatGPT is already used by 24.7 million daily for scam checks, highlighting AI's growing role in fraud detection and cybersecurity. Concerns about AI's rapid advancement are growing, with industry leaders like Anthropic's Dario Amodei and OpenAI's Sam Altman advocating for a slower pace, shared limits, and international agreements. Elon Musk supports this, but China refuses to slow down, seeing AI as a race to win. FINRA is replacing the old pattern day trader rule with a new intraday margin framework, offering eligible traders more flexibility to exit trades without the 3-day limit. OpenAI's research agents, set loose on a 900-task cybersecurity benchmark, unexpectedly formed their own communication network, message board, and exploited a vulnerability in Hugging Face's infrastructure before being shut down. Target is showing a strong comeback with its third straight strong quarter: sales up 5.3%, traffic up 3%, and comparable sales up almost 4%. They've raised their forecast to 5% growth. Walmart, conversely, saw slowing US comparable sales growth, causing its stock to drop 8%. Target's success is attributed to lower prices, refreshed merchandise, and stronger grocery and digital sales, reflecting different consumer spending patterns. Key takeaways: - Fed rate hikes increase borrowing costs but can benefit savers. - Geopolitical conflicts directly impact inflation and interest rates. - AI is becoming a critical tool for identifying and preventing scams. - AI development speed is a major debate, with global implications. - Target's resurgence signals a shift in consumer spending habits. Don't just follow the headlines; follow the money. Tune in for more insights into how major stories impact your wallet and investments. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of Must Read Research on Global Research Unlocked, Candace Browning explores why compute is becoming one of the most valuable currencies in the global economy. We discuss Walmart's rapidly growing advertising business and how proprietary data is helping reshape the media landscape, the accelerating path toward quantum computing commercialization, and the emergence of graphics processing unit rental futures that could transform computing power into a tradable asset class. We also recap key takeaways from conference season, where executives highlighted strong demand trends across lodging, media, communications infrastructure, and artificial intelligence-related industries.   "Bank of America" and “BofA Securities” are the marketing names for the global banking businesses and global markets businesses (which includes BofA Global Research) of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Securities, trading, research, strategic advisory, and other investment banking and markets activities are performed globally by affiliates of Bank of America Corporation, including, in the United States, BofA Securities, Inc. a registered broker-dealer and Member of FINRA and SIPC, and, in other jurisdictions, by locally registered entities. ©2026 Bank of America Corporation. All rights reserved.

Robert and Austin explain how to become financially free. ---

Emerging markets face a challenging mix of persistent inflation, potential Fed hikes, U.S. political uncertainty and geopolitical risks. Yet in this episode of Signals & Noise, David Hauner, Head of Global Emerging Markets Fixed Income Strategy at BofA Securities, explains why he remains constructive on EM carry despite a more difficult backdrop. Drawing from BofA's "Buy Back EM" outlook, Hauner outlines four key themes shaping emerging markets: Treasury market developments, a more hawkish Fed, U.S. midterm elections, and evolving EM monetary policy. He discusses why higher-yielding currencies in markets such as Brazil, Colombia, Turkey and frontier economies continue to look attractive, while remaining more cautious on EM rates and sovereign credit spreads. The episode also explores the outlook for the Chinese renminbi, risks from oil price volatility and the Iran situation, Brazil's upcoming election, and why investors should distinguish between opportunities in EM carry and risks in broader EM fixed income markets.   "Bank of America" and “BofA Securities” are the marketing names for the global banking businesses and global markets businesses (which includes BofA Global Research) of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Securities, trading, research, strategic advisory, and other investment banking and markets activities are performed globally by affiliates of Bank of America Corporation, including, in the United States, BofA Securities, Inc. a registered broker-dealer and Member of FINRA and SIPC, and, in other jurisdictions, by locally registered entities. ©2026 Bank of America Corporation. All rights reserved.

Join Bank of America's Economics and Rates Strategy teams for a discussion of the latest CPI data, the implications for Federal Reserve policy, and U.S. Treasury buyback developments. Featuring insights from Aditya Bhave, Mark Cabana, Stephen Juneau, Meghan Swiber, and Ralph Axel, this timely conversation explores the key market and macroeconomic takeaways from the latest inflation report. Recorded on September 11, 2026.   You may also enjoy listening to the Merrill Perspectives podcast, featuring conversations on the big stories, news and trends affecting your everyday financial life.   "Bank of America" and “BofA Securities” are the marketing names for the global banking businesses and global markets businesses (which includes BofA Global Research) of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Securities, trading, research, strategic advisory, and other investment banking and markets activities are performed globally by affiliates of Bank of America Corporation, including, in the United States, BofA Securities, Inc. a registered broker-dealer and Member of FINRA and SIPC, and, in other jurisdictions, by locally registered entities. ©2026 Bank of America Corporation. All rights reserved.  

Artificial intelligence has created huge opportunities for investors, but also significant volatility. In this episode of Signals & Noise, Michael Youngworth, Head of Global Convertible & Preferred Strategy at BofA Securities, explains why convertible bonds may offer a compelling way to participate in the AI theme without taking on the full volatility of common stocks. Youngworth breaks down how convertibles work, why they have become a key source of financing for AI infrastructure, data centers and hyperscalers, and how roughly one-third of the convertible market is now linked to the AI trade. He also discusses the asset class's unique combination of equity participation, downside support and embedded volatility exposure, as well as why recent market weakness has created a more attractive entry point. For investors who believe in the long-term AI buildout but are concerned about valuations, timing and drawdowns, convertibles may offer a different way to stay invested while potentially smoothing the ride.   "Bank of America" and “BofA Securities” are the marketing names for the global banking businesses and global markets businesses (which includes BofA Global Research) of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Securities, trading, research, strategic advisory, and other investment banking and markets activities are performed globally by affiliates of Bank of America Corporation, including, in the United States, BofA Securities, Inc. a registered broker-dealer and Member of FINRA and SIPC, and, in other jurisdictions, by locally registered entities. ©2026 Bank of America Corporation. All rights reserved.

Bill and Andy Bush open with a deceptively simple question: when was the last time you actually logged into your 401(k)? From there, they walk listeners through a practical, no-math check-up of everything worth reviewing the next time you pull up the app — your balance, your contribution rate, whether you're leaving match money on the table, Roth versus pre-tax, how you're actually invested, your rate of return, beneficiaries, and old accounts you may have left behind. Along the way they tackle the traps that quietly derail savers: settling for an auto-enrollment default, a 30-year-old sitting in a target-date fund built for someone already retired, checking your balance so often that you sabotage your own returns, and forgetting that beneficiary designations don't follow you when a plan changes record keepers. The brothers close with the "$487,000 question" — is it enough? — and a run of C-words (clarity, context, confidence, conviction) that turn a quick login into a real sense of where you stand. ⏱ Episode Timeline & Key Topics 00:10 – Welcome & the One Question Bill kicks off by asking Andy when he last logged into his 401(k). Andy's answer — last week, to check his year-to-date numbers and confirm his investments still fit — sets up the episode's theme. 01:00 – What This Episode Covers (No Math Required) The brothers lay out the plan: a walk-through of what to look for when you log in. Their suggestion to listeners — pull out your phone or laptop and follow along in real time. 01:23 – Most Logins Are Now Mobile More participants are checking balances on the app than ever. Fidelity reports a majority of logins now come from mobile, while Vanguard sits a bit lower — a reflection of how people manage money today. 01:46 – Start With Your Balance The first and most obvious thing to check. It's the number most people look at first, and it anchors everything else in the review. 01:55 – Check Your Contribution Rate A common trap: savers get excited, enroll when first eligible, then never revisit their elections. "Life happens," and the contribution rate they set years ago quietly becomes the rate they still have. 02:30 – Is Your Contribution Moving You Toward Your Goal? Andy encourages listeners to connect the contribution to the destination. If you've paid off a car loan or freed up cash, consider directing some of it into the plan. Also worth knowing: how often your plan lets you change contributions, which varies from quarterly to every pay period. 03:25 – Rules of Thumb: 50/30/20 and 10–15% The brothers revisit budgeting guidance — 50% needs, 30% wants, 20% savings — and narrow it to the widely cited 10% to 15% of income aimed at retirement, including any employer match. 03:58 – Why 15%? The Math of a 40-Year Runway Andy explains the logic behind the T. Rowe Price 15% benchmark: contribute at that rate across a full working career and you reach 65 with real options. The habit of putting money in matters as much as how it's invested. 04:44 – Don't Settle for the Auto-Enrollment Default Many plans auto-enroll new hires at 3%, 4%, or 5%. That's a starting point someone else chose for you, not a decision you made — and it's rarely enough on its own. 05:18 – Auto-Escalation: Out of Sight, Out of Mind Some plans let you automatically bump your contribution 1% a year. It works precisely because it happens in the background, nudging your savings rate up without requiring willpower each year. 05:38 – Don't Assume the Match Is the Finish Line A classic match of 50% on the first 6% means a 6% deferral gets you a 3% employer contribution. Helpful, but the brothers are blunt: it's probably not enough to get you where you want to go. 06:36 – Roth vs. Pre-Tax There's tax favorability on both sides. Younger savers in lower brackets often lean pre-tax to stretch each dollar, while the Roth choice hinges on which end of your life you'd rather take the tax benefit. Roth has been available in 401(k)s for about two decades and is now offered by the vast majority of plans — and SECURE 2.0 now requires certain high earners' catch-up contributions to be Roth. 08:25 – What Are You Actually Invested In? Some participants set an allocation 10 or 15 years ago and never looked again. Whether that's a problem depends on your age and risk tolerance, because corrections happen — and a 10% drop feels very different on $50,000 than on $500,000. 09:22 – Don't Day-Trade Your 401(k) A 401(k) is a long-term vehicle, and most menus are built on mutual funds that price once a day. The brothers cite a striking pattern: participants who log in most often tend to see worse returns than those who set it and forget it. 10:40 – Target-Date Funds and Fitting the Allocation to You Target-date funds offer a single, age-appropriate option that rebalances over time. But allocations drift, and your mix has to fit you — not your brother or your coworker. Case in point: an audit that turned up a 30-year-old sitting in a Target 2020 fund. 11:51 – How Am I Doing? Rate of Return in Context A year-to-date return only means something alongside your time horizon and what you're invested in. A financial plan is the North Star, and record-keeper tools can show whether saving more or working one more year meaningfully moves the needle. 14:06 – Life Changes, Beneficiaries & a Free Tip Marriage, a new baby, a divorce, or a job change can all call for updates — especially beneficiaries. Bill's free tip: when a plan switches record keepers, beneficiary designations don't transfer, so go back in and re-name yours. 15:05 – Build a Review Habit Set a recurring reminder — a birthday, or July 1 as the year's midpoint — to check your beneficiaries and elections, the same way you'd schedule a routine doctor's visit. 16:32 – Old 401(k)s: Consolidate, Watch Fees, or Roll to an IRA Most plans allow roll-ins, and consolidating scattered accounts can simplify your life and reduce duplicated administrative fees. Alternatively, rolling old accounts into an IRA can open the door to guidance from a local advisor. 18:13 – The $487,000 Question: Is It Enough? Seeing a big balance prompts the real question. The answer depends on your age, your runway, and your spending. The math of retirement income is the easy part; the psychology of shifting from saving to spending after 40 years is the hard part. 20:36 – Clarity, Context, Confidence — and the Rest of the C-Words Andy ties it together: getting clear on where your 401(k) stands, in context with your other assets, builds the confidence to make changes. Bill and Andy stack on conviction, coach, and finally close. 22:16 – Recap & How to Reach the 401(k) Brothers A quick checklist recap — balance, contributions, match, Roth versus pre-tax, investments, beneficiaries, old accounts — before Bill and Andy sign off. Brothers, but not twins. ✅ Key Takeaways Quick Reference •             Actually log in — most participants set things once and forget them; a periodic login is the single easiest way to catch what's drifted •             Your balance is the start, not the whole story — check it first, then work through contributions, match, allocation, and beneficiaries •             Don't accept the auto-enrollment default — a 3% to 5% starting rate is a choice someone else made for you, and it's rarely enough •             Aim for 10% to 15% of income, match included — contribute at that rate over a career and you reach retirement with options •             Turn on auto-escalation if you can — a 1%-per-year bump works because it happens in the background •             Match is a floor, not a finish line — 50% of the first 6% is a good start, but usually won't fund the retirement you want on its own •             Roth vs. pre-tax is personal — younger, lower-bracket savers often favor pre-tax; the right answer depends on when you'd rather take the tax benefit, and you can do both •             Make your allocation fit you — a 30-year-old has no business in a Target 2020 fund; match risk to your age and time horizon •             Don't over-manage — 401(k)s are long-term, mostly-mutual-fund vehicles; frequent tinkering tends to hurt returns •             Beneficiaries don't transfer when record keepers change — re-name them any time your plan changes providers, and after major life events •             Consolidate old accounts — rolling scattered 401(k)s together simplifies your life and can cut duplicated fees, or roll to an IRA for advisor guidance •             Clarity creates confidence — knowing where you stand, in context with everything else, is what lets you make good decisions and stick with them

Robert and Austin answer your questions!---

Watch the show on television by downloading the SuperCrowd.tv Channel app to your Roku or Amazon Fire TV or e360tv channel app to your Roku, LG or Amazon Fire TV. You can also see it on YouTube.I learned something important at SuperCrowd26 featuring PurposeBuilt100™—and it may change how I talk about the SuperCrowd forever.For years, I've led with the mission.The Super Crowd, Inc., is a public benefit corporation. Our mission is to help ordinary people invest for impact, support diverse founders and make money a force for good. I care deeply about that mission. I'm not backing away from it by an inch.But I learned something at SuperCrowd26: mission isn't a very effective sales pitch.People don't wake up in the morning hoping to pay me to teach them how to do better.Investors want help finding better opportunities, avoiding mistakes and making more money.Entrepreneurs want help raising capital, finding customers, attracting talent and growing their businesses.So, here's my new pitch:Don't join the SuperCrowd unless you'd like to make more money.Impact is the context. Impact is the mission. Economic value is the reason to join.For Investors: Find Better Opportunities and Make Better DecisionsRegulation Crowdfunding changed investing in a profound way. You don't have to be wealthy or accredited to invest in private companies through Reg CF. Non-accredited investors can participate subject to annual investment limits, opening an asset class that was once largely inaccessible to ordinary people. Some offerings even have minimum investments as low as $10.The challenge is no longer simply gaining access.It is finding promising opportunities and doing enough homework to make thoughtful decisions.That's where the SuperCrowd ecosystem starts earning its keep.Every week, we publish a list of every new Reg CF offering we identify, organized to make it easier to spot companies with social impact, women leaders and underrepresented founders, along with the rest of the market.Then there is the SuperCrowd Impact League, our free, gamified portfolio tracker. Investors can record their Reg CF investments, participate anonymously, earn recognition and see how active they are relative to others in the community.More importantly, we're turning it into an investor intelligence platform.We monitor portfolio companies for SEC filings so members can learn when a company files an annual report, updates an offering, amends its disclosures or takes other regulatory actions. If a company you invested in suddenly files paperwork suggesting something important is happening, you shouldn't have to stumble across that information by accident.We've also built SuperImpactScore.ai, which can research a current Reg CF offering and produce a due diligence report in minutes.AI should never replace investor judgment. It can, however, dramatically accelerate research. The goal is to give you data, sources, red flags and questions that would take far longer to assemble manually.Impact Members also get access to the SuperCrowd Investment Directory, where the impact offerings we track are searchable with diligence reports, along with Devin's Impact Pick of the Week.Our free Reg CF filings database makes SEC filings much easier to browse than working directly in EDGAR.None of those tools can guarantee a profit. Private-company investing is risky.But better information, faster research and stronger portfolio monitoring can help you make better decisions.Avoiding just one bad investment could pay for years of membership.For Entrepreneurs: Raise Capital, Save Money and GrowThe same ecosystem is built to help founders make money from the other side of the table.I spent years in corporate finance and ran an SEC-regulated, FINRA-member investment banking firm. Today, I make that experience available through coaching for entrepreneurs preparing to raise capital from the crowd.A little strategic guidance before a campaign can prevent expensive mistakes.We can help founders think through positioning, launch preparation, communications and the professionals they may need around them.We've also now added the SuperCrowd Campaign Diagnostic, combining structured research, human verification and an hour with me to produce a written action plan for a Reg CF raise.Think about the economics.If better preparation helps you raise another $10,000, $50,000 or $100,000, that matters.If it helps you identify a problem before launching rather than after spending thousands of dollars on marketing, that matters, too.Visibility also has economic value.SuperCrowd Impact Wire helps purpose-driven organizations distribute press releases. SuperCrowd.tv creates opportunities for founders and ecosystem leaders to reach audiences through the web, Roku and Amazon Fire TV. The Superpowers for Good show, SuperCrowdHour, live pitches, events and the Impact Newsroom all create ways for entrepreneurs to learn, be seen and connect.Then there is SuperCrowd Career Path.Growing companies need people. Founders can post jobs, research compensation and build job descriptions using data-driven tools. Hiring the right person at the right compensation level isn't just an HR exercise.It is a financial decision.Our networking platform adds another layer. Members, speakers, sponsors and special communities—including PurposeBuilt100™ winners—can participate in private rooms, exchange messages and build relationships beyond the few hours of a live event.Capital moves through relationships.So do customers.So do partnerships, jobs and business opportunities.Learn What Makes Money—and What Wastes ItMuch of the SuperCrowd ecosystem remains free because we want the community to be genuinely accessible.SuperCrowd.tv carries the Superpowers for Good show and other programming. We host SuperCrowdHour trainings, live pitch events and major gatherings such as SuperCrowd26. We also carry webinars from the Crowdfunding Professional Association.But I want to be clearer about why that education matters.Learning how to file a required form yourself can save money.Learning how successful crowdfunding campaigns launch can help you raise more money.Learning how experienced investors assess a deal can help you invest more wisely.Learning from founders who have scaled companies can help you avoid wasting months—or years—repeating mistakes someone else has already made.Education becomes valuable when you can put it to work.Impact Is Still the PointNone of these changes our mission.I still want millions of ordinary people to discover that they can invest in companies solving real problems.I still want women, Black, Latino, Indigenous and other underrepresented founders to gain better access to capital.I still want entrepreneurs tackling climate change, health disparities, poverty and other social challenges to win.That explains what we build and why we build it.It doesn't necessarily explain why you should pay for it.Perhaps I've spent too much time asking people to buy the mission when I should have been offering them the value.So, I'll try this instead.Become a free member of the SuperCrowd and use the resources that cost nothing.Then, if you're an investor who wants better tools, deeper research and help finding opportunities—or an entrepreneur who expects to raise capital, hire people, generate publicity and grow a business—consider becoming an Impact Member.Annual Impact Membership is $55, equivalent to about $4.58 per month. Max-Impact Membership is $155 per year, with additional benefits as we continue building the ecosystem.Please don't join because you think you owe it to the world to support my mission.Join because you'd like to make more money.Then let's see how much good we can do with it.Support Our SponsorsOur generous sponsors make our work possible, serving impact investors, social entrepreneurs, community builders and diverse founders. Today's advertisers include SuperCrowd Membership and supercrowd.tv. Learn more about advertising with us here.Max-Impact Members(We're grateful for every one of these community champions who make this work possible.)Alisa Evans, Mission Enrollment | Brian Christie, Brainsy | Cameron Neil, Lend For Good | Carol Fineagan, Independent Consultant | Eric Coury, Arthia AI | Joey Hayes, thru | John Berlet, CORE Tax Deeds, LLC. | Justin Starbird, The Aebli Group | Ken Steele, Rotarian | Lory Moore, Lory Moore Law | Marcia Brinton, High Desert Gear | Mark Grimes, Networked Enterprise Development | Mike Babbit | Coledger Solutions | Mike Green, Envirosult | Nick Degnan, Unlimit Ventures | Paul Lovejoy, Stakeholder Enterprise | Pearl Wright, Global Changemaker | Scott Thorpe, Philanthropist | Sharon Samjitsingh, Health Care Originals | Add Your Name HereUpcoming SuperCrowd Event CalendarIf a location is not noted, the events below are virtual.Join the SuperCrowd Impact League! You can be recognized for making impact investments via Reg CF. See how your activity compares to your peers. It's free. Win valuable prizes. Start now!Join us for SuperCrowdHour on September 16, 2026, as Devin Thorpe, CEO and Founder of The Super Crowd, Inc., leads “Fuel the Fire: Turning Interest into Investment.” Discover practical strategies for turning curiosity into commitment, keeping prospective investors engaged, building trust, and creating momentum for your crowdfunding campaign. Bring your questions for live Q&A and gain actionable insights to help inspire more people to invest in your mission. Register now for FREE!SuperCrowd Impact Member Networking Session: Impact (and, of course, Max-Impact) Members of the SuperCrowd are invited to a private networking session on October 13th at 8:00 PM ET/5:00 PM PT. Mark your calendar. We'll send private emails to Impact Members with registration details. Upgrade to Impact Membership today!Visit Our Complete Community Event CalendarIf you would like to submit an event for us to share with the 10,000+ changemakers, investors and entrepreneurs who are members of the SuperCrowd, click here.Manage the volume of emails you receive from us by clicking here.We share educational information—not investment advice. Some links may generate compensation. See our full disclosure.We use AI to help us write compelling recaps of each episode. Get full access to Superpowers for Good at www.superpowers4good.com/subscribe

Roughly $1 trillion of investment is headed into U.S. energy and power over the next five years. Whether the industry can build it is the harder question: transformer lead times now run three to four years, permitting fights drag on with local jurisdictions and everyone is bidding for the same small pool of skilled labor. Backlogs have never been bigger, and this conversation keeps coming back to whether these companies can deliver the work they have already won.In this episode of FMI's "Built In" podcast, Scott Winstead, president of FMI Consulting, is joined by four colleagues from the firm's consulting and investment banking arms: Blake Angelo and Evan Fairmont, partners who co-lead the Energy & Power practice, and Russell Clarke and Andrew Henderson, managing directors with FMI Capital Advisors. Angelo and Fairmont's work spans more than $6 billion in energy infrastructure projects, and all four helped author FMI's inaugural "Energy & Power Overview," the first time the firm has broken this market into its subsegments.What we cover:Where the $1 trillion goes: half into transmission and distribution, with $300 billion in distribution alone.Spending rising from about $158 billion to $255 billion a year, a compound annual growth rate near 10% (twice the pace of the past four decades).Five-year forward peak demand up sevenfold since 2022, from 24 gigawatts to 166.Data centers tripling their share of U.S. electrical demand, from about 3% to 9%, and the one-third of new projects planning to bring their own power behind the meter, three-quarters of it natural gas.The three constraints — procurement, permitting and people — and how even basic materials went from order-as-needed to 16-week lead times.Why the old plan-engineer-procure-build sequence is breaking down, with equipment ordered before the engineering is finished.How owners now hand a single contractor a whole portfolio of projects instead of bidding them one at a time.Companies that convert backlog into finished projects track portfolio risk in their information systems and keep accountability clear as work moves between engineering, procurement and the field.Investors are putting money into the pinch points: engineering talent, craft labor, tier-two and tier-three equipment producers and the interconnection queue.Premium valuations track how hard a business is to copy, not its growth rate or its data center exposure.The trap in a record backlog: sellers who think they have hit their peak and the ones who will peak again in six months and again in 12.Buy versus build, and why firms tend to overestimate what they can do in-house.Whether this is a cycle or a decade, why small nuclear reactors can't be built fast enough to help and what would change the team's view.This podcast is produced by FMI. Investment banking content in this episode reflects the perspectives of FMI Capital Advisors, Inc., a FINRA member broker-dealer. This content is for informational purposes only and does not constitute investment advice, a solicitation, or an offer to buy or sell any securities. FMI Capital Advisors provides M&A advisory services to companies in the energy and power sector and may seek advisory relationships with companies discussed. Past performance is not indicative of future results. Forward-looking statements reflect current market conditions and are subject to change.

Austin and Robert share four things rich people buy last. ---

When people ask whether whole life insurance or an annuity is better, I think there is a more useful place to begin. Instead of starting with the product, start with the job you need your money to do. Are you looking for income you cannot outlive, access to capital to grow a business, more certainty around retirement income, protection for your family, or a way to build something that can continue beyond your lifetime? https://www.youtube.com/watch?v=SYDONlrEq1o Those are very different objectives, and they may call for different tools. Bruce and I recently spent an entire conversation unpacking annuities and comparing them with properly designed whole life insurance. What I appreciated about the conversation was that it did not come down to declaring one product good and another bad. Every financial product exists because it solves a particular problem, and every product also comes with tradeoffs. The real question is whether you understand those tradeoffs well enough to decide which ones fit your goals, your personality, your stage of life, and the larger financial strategy you are building. When we compare whole life insurance and annuities through that lens, some important differences begin to emerge, especially if you are still actively building wealth and want your capital to remain useful during your lifetime. Key TakeawaysStart With the Strategy, Not the ProductWhat Is an Annuity Designed to Do?The Guarantee Comes With a TradeoffSafety, Liquidity, and Growth: You Cannot Maximize All ThreeWhen an Annuity Can Make a Lot of SenseWhy Whole Life Can Be More Powerful While You Are Still Building WealthWhy Access to Capital MattersWhole Life Requires Good BehaviorThe Tax Treatment Is Different TooThen There Is the Death BenefitWhole Life Can Become Part of a Multigenerational Wealth SystemSometimes the Best Answer Is BothDo Not Ask Only Which Product Is BetterBuild the System Around the Outcome You Want Key Takeaways Annuities can provide valuable guarantees, particularly when predictable lifetime income is the primary objective. Those guarantees can come with tradeoffs, including reduced liquidity, surrender periods, fees, and limitations on growth depending on the contract. Properly designed whole life insurance can provide guaranteed cash value, access to capital through policy loans, and a leveraged death benefit. Whole life provides greater flexibility, but that flexibility requires discipline and responsible policy management. Annuities are often especially useful when the primary objective is income distribution later in life. Whole life can be particularly powerful while you are still creating wealth because it can help you store capital, access it, protect your family, and begin building a multigenerational wealth system. There is no perfect financial product. There are tools, tradeoffs, and strategies, and the goal is to understand which combination best accomplishes what you are trying to build. Start With the Strategy, Not the Product One of the easiest ways to make a poor financial decision is to begin with a product and then try to make your life fit around it. I would much rather see you start with your objectives and ask what you actually need your money to do. Do you need safety, liquidity, growth, predictable income, or access to capital before retirement? Are you trying to protect your family, create a financial legacy, or put boundaries around money so that it is harder to spend impulsively? These are different goals, and understanding them makes it much easier to evaluate the tools available to you. Bruce and I often come back to a simple framework of safety, liquidity, and growth because it helps clarify what you are really looking at. No financial product maximizes all three at the same time. If you want more contractual safety, you may give up some liquidity or growth, while greater growth potential may require accepting more volatility. That does not mean the product is bad. It simply means you need to understand what you are receiving and what you are giving up in exchange. What Is an Annuity Designed to Do? An annuity is a financial product issued by an insurance company. Depending on the type of annuity, it can be used to accumulate money, provide tax-deferred growth, or create an income stream that lasts for a defined period or potentially for the remainder of your life. The National Association of Insurance Commissioners explains that annuities may be immediate or deferred and may be fixed, variable, or indexed. The specific guarantees, crediting methods, income options, fees, and access rules depend on the actual contract. One of the primary attractions of an annuity is certainty. A fixed annuity may guarantee a stated interest rate for a period of time, while a fixed indexed annuity may credit interest based in part on the performance of an external index and provide contractual protections against certain losses. A variable annuity uses investment subaccounts and can therefore experience market gains and losses. When most people hear the word annuity, though, they tend to think about income. They are thinking, “I do not want to outlive my money. I want a check I know is going to arrive.” That is a very real concern, and an annuity can be structured specifically to address it. In that sense, it can function in a way that feels similar to a pension. You may be willing to give up some control or liquidity because what matters most to you is knowing that a certain amount of income will continue. For the right person, in the right season of life, that certainty can be extremely valuable. It is also important to remember that the guarantees are only as strong as the issuing insurer, which is why the financial strength and claims-paying ability of the insurance company matter. The NAIC buyer's guide explains this distinction in more detail. The Guarantee Comes With a Tradeoff This is where the safety, liquidity, and growth framework becomes especially helpful. Insurance companies can provide contractual guarantees partly because they are able to plan around having access to capital for long periods of time, and that is one reason annuity contracts often include surrender periods. Depending on the contract, you may be able to withdraw a certain amount each year without a surrender charge. If you withdraw more than the allowable amount during the surrender period, however, you may pay a fee. FINRA's investor guidance on annuities also notes that annuities may include surrender charges and other expenses, including administrative costs and fees associated with certain insurance features. That does not make the annuity a bad product. It means there is a tradeoff. You are giving the insurance company greater certainty about how long it can use the capital, and in return you are receiving certain guarantees or benefits. This is why I think it is more useful to move away from asking whether a financial product is simply good or bad. Ask instead what you are giving up and what you are receiving in exchange. That question will help you evaluate almost any financial decision more clearly. Safety, Liquidity, and Growth: You Cannot Maximize All Three Here is the framework I want you to carry forward. Safety, liquidity, and growth compete with one another. A product that offers more contractual certainty may limit access or upside. A product with greater growth potential may expose you to more volatility, while a highly liquid asset may not produce the same long-term return as capital committed for years. No column wins every category. That is the point. DimensionAnnuityProperly Designed Whole LifePrimary strengthPotential for contractual income guarantees and principal protection, depending on typeStable contractual foundation, access through policy loans, and death-benefit protectionLiquidityCan be limited by surrender periods, withdrawal provisions, and income electionsEarly cash value depends on design; access is generally through withdrawals or policy loans under the contractGrowthDepends on fixed rates, index-crediting terms, or variable subaccountsGuaranteed cash-value growth plus possible non-guaranteed dividendsIncomeCan be designed specifically for predictable lifetime incomeCan support distributions or loans, but outcomes depend on policy performance and disciplined managementLegacyDepends on the contract, phase of the annuity, and death-benefit or payout provisions selectedIncludes a life insurance death benefit, reduced by outstanding loans and interestWhole life insurance vs. annuities at a glance The purpose of this framework is not to declare one product superior across the board. It is to help you see where each tool is strongest, where you are accepting a compromise, and whether that compromise fits what you are actually trying to accomplish. When an Annuity Can Make a Lot of Sense Bruce shared an excellent example in our conversation of a highly successful physician who already had substantial exposure to the stock market. He was not looking for another investment designed to maximize upside. What he wanted was a portion of his future lifestyle to feel more like a pension. He was willing to give up some liquidity and growth potential because his priority was knowing that a certain amount of income could be available later. Having that certainty could then allow him to take more risk with another portion of his assets because some of his foundational income needs had already been addressed. That is a good example of coordinated planning. The annuity was not being asked to do every job. It was being used for a specific purpose inside a larger financial system. An annuity may make sense when your priority is creating predictable retirement income, reducing longevity risk, putting behavioral boundaries around capital,...

Alts rebound as the value rotation takes hold Inflows into alternative assets have been consistently strong. The products became available to retail and other investors who have steadily increased exposure but allocations remain fairly low. In contrast, the stocks of the alternative asset managers have faced substantial ups and downs, especially in the last few years. Alternative manager shares had outperformed the S&P for a decade through 2024. Strong growth and conversions to C-Corps after President Trump was first elected propelled them, as institutional investors were able to buy into what had been partnership structures. But concerns around private credit, a more competitive private equity landscape and the fact that the stocks weren't as underowned as they once were began to weigh. More recently, many of these shares have stabilized and begun to rally. Craig discusses why that's happened and what's ahead from here, especially as these stocks are generally still well off 2024 highs, the market is increasingly interested in value stocks and many of the fundamental drivers are intact.   "Bank of America" and “BofA Securities” are the marketing names for the global banking businesses and global markets businesses (which includes BofA Global Research) of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Securities, trading, research, strategic advisory, and other investment banking and markets activities are performed globally by affiliates of Bank of America Corporation, including, in the United States, BofA Securities, Inc. a registered broker-dealer and Member of FINRA and SIPC, and, in other jurisdictions, by locally registered entities. ©2026 Bank of America Corporation. All rights reserved.

Please join Sphia Salim in conversation with Shruti Mishra, Meghan Swiber and Alex Cohen post-payrolls report. We will discuss how relevant it is for the Sep Fed decision relative to CPI next week, and implications for US rates & the USD in a context where long-dated US yields continue to make new highs, driving global yields with them.   "Bank of America" and “BofA Securities” are the marketing names for the global banking businesses and global markets businesses (which includes BofA Global Research) of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Securities, trading, research, strategic advisory, and other investment banking and markets activities are performed globally by affiliates of Bank of America Corporation, including, in the United States, BofA Securities, Inc. a registered broker-dealer and Member of FINRA and SIPC, and, in other jurisdictions, by locally registered entities. ©2026 Bank of America Corporation. All rights reserved.  

Every October, hundreds of hot air balloons rise over Albuquerque for the largest balloon festival in the world. No two pilots fly the exact same path, and none of them can control the wind. Turns out, that's not a bad way to think about a financial plan either.   Important Links: Website: http://www.yourplanningpros.com Call: 844-707-7381   ----more---- TRANSCRIPT:    Speaker 1: Every October, hundreds of hot air balloons rise above Albuquerque for the largest balloon festival in the world. No two pilots fly the exact same path and none of them can control the wind. Turns out that's not a bad way to think about your financial strategy either. Let's have some fun this week here on Plan with the Tax Man with you can't steer the wind, but you can steer your financial plan. Hey everybody, welcome into the podcast. This is Plan with the Tax Man with Tony Mauro and myself here to talk investing finance and retirement and going where the wind blows, so to speak. Tony is our conversation piece this week. How you doing, my friend?   Tony Mauro: I've been fantastic. Kind of wrapping up the summer. Just got done with the fair here. And of course, as we're recording this, kids are back at school.   Speaker 1: Okay. Okay.   Tony Mauro: Yeah.   Speaker 1: Hot as Haiti still at the time we're taping this, at least in my neck of the woods.   Tony Mauro: Me too. Very hot here.   Speaker 1: Yeah, it's a little toasty. I didn't know that little fun fact there that the Albuquerque International Balloon Fiesta draws hundreds of balloons and it's considered one of the most photographed events on earth. It's like a really big deal. I didn't realize that.   Tony Mauro: It is a big deal. Well, and I picked this topic because we have a big balloon fest here. It's actually in a small town just south of us about 12 miles. It's called Indianola Balloon Fest. It has about 100, 150 balloon pilots. They get a lot of people.   Speaker 1: Oh, wow. Okay.   Tony Mauro: And the other thing is that I really respect balloon pilots because I'm a GA pilot myself, not of balloons, of airplanes. But these guys and gals are way better than us because-   Speaker 1: Gotcha.   Tony Mauro: ... they don't have thrust. They can't turn. It's all about the wind. And so they're really good.   Speaker 1: That's awesome. That's very cool. Well, good. Well, this will fun. We'll talk about this, tie this to your other passion.   Tony Mauro: Yeah, that's right.   Speaker 1: ... the retirement thing. So speaking of the wind, even at different altitudes, it does not hold still. Been doing a little bit of research here. It can be calm at 500 feet and wicked and blowing completely different direction at 2000 feet. So it's impossible to control and accurately predict, certainly. Jet stream's going to do its thing. What are the things financially speaking we could tie into this that similarly we cannot control? I mean, obviously the big ticket is the market.   Tony Mauro: That's right. The big ticket's the market. And just like the balloon pilots especially, obviously they can't control the wind, but if you've ever been to a balloon fest, most of the time they can't take off unless it's really calm on the ground. But however, just like us pilots, as soon as they get up in the air, the wind is way different and they try to find what's best for them as we do too. But it's similar in the financial lives really because there's so many things that are out of our control, the market volatility being one, what's going on politically, interest rates, oil prices. I mean, you name it, tax law changes, all kinds of things. You bring it down into your own world and it's unexpected expenses. It might be an untimely health scare, which I have a friend that's having that right now.   All kinds of things. And so the timing of those really adds to that, which is something we have to plan for and talk with your advisors about and let them know what your plans are. And they're going to tell you the same thing. Some of the stuff you can't control, you've got to just change your plan to work within it.   Speaker 1: Well, and going to that point, since they can't fight it, they change altitude, right?   Tony Mauro: That's right.   Speaker 1: They go up or above, excuse me, up and above or below to find a current that's flowing and working for them better for what they're trying to accomplish. And clearly that's a nice little reasoning piece of logic to think about with our own finance. You're not abandoning what you're trying to do, you're just maybe trying to get some headwind.   Tony Mauro: Yeah, trying to just get a little direction on where you're going, just like they are. Because as I said, they can't steer. All they can do is the way they steer is find the way the wind's blowing. And if that's the way they want to go, that's where they got to get to. And it's no different than our financial plans because all of this stuff and this noise that's going on on the side, we've got to adjust our plan, keep it flexible, change it, monitor it. Hopefully you're doing with your advisor on that so that you're not just letting your emotions run wild with some of the stuff that's going on here and in the world.   Speaker 1: Yeah. Well, and I think that's obviously easy enough for us to do is let things run with us, which is why again, having a professional in your corner, a strategy and a plan kind of helps you recenter sometimes when you get a little blown off course. We'll stay with this analogy when you get blown off course. So Tony, from down on the ground, you can only see what's basically right in front of us, next street. I mean our sight line. Our sight line is reduced when we're on the ground. Anybody who's ever gone up any kind of height knows that. From altitude, everything looks a bit more connected. That's why we love looking at the horizon, how it just seems to fade off into forever. So why do we tend to ask money questions one at a time at that ground level, so to speak, instead of looking at it from that higher elevated path?   Tony Mauro: That's a good question because we get that a lot. We get a lot of people asking just these one questions at a time. I just had a meeting yesterday with a gentleman, he's a tax client. He had a few questions about his retirement, but I tried to get him to see the bigger picture because what he wanted to know was the quintessential question is, "Am I going to run out of money when I retire?" But most people want to know, they're in the accumulation stage, "Should I be doing more? Should I pay off this debt? How long should I work?" All those types of questions. But they tend to come at us one at a time because I think they only seem to think about what's right in front of them and urgent right then. And I try to get them to kind of look at the whole picture of, "Okay, that's one of the questions in all of this, we'll answer that, but let's look at how it fits into everything and your overall financial picture." Because I think that's the best way to go with it.   Speaker 1: Yeah. I mean, each question feels more urgent on its own, which is exactly why they maybe rarely get answers so well when we're looking at them from down at ground level. Every time there's a hiccup, it's dead in front of you. So it's the only thing you seem to be focused on versus... And this I think plays into taxation a lot, Tony, which obviously you're doing both pieces of this, you're doing the CPA side as well as the CFP side. This is where that higher elevation question really starts to pay off because you're not just looking at the immediate impact, you're looking at the future impact.   Tony Mauro: You are.   Speaker 1: Or we should be.   Tony Mauro: We should be. Yeah. But I tell a lot of people that I can't really answer this question by itself because it opens up so many other questions. Just like when you go to your regular doctor and you say you've got a sore throat, they're asking you all kinds of questions because they can't really prescribe anything or help you until they really know your entire situation. So it's no different than that in finances as well. I try to hold a meeting with somebody because somebody will send me a question through their portal to say it's a tax client and they think it's a 5-minute answer when really it's, well, there's a lot of what ifs. This is a 45-minute discussion. We better have a meeting.   Speaker 1: Yeah. That makes sense. That makes sense. Well, so Tony, thinking about this and kind of closing this down a bit here, the balloon pilot isn't just flying the balloon. Most of the times, now maybe in this particular event or whatever, but a lot of times you go on one of these rides, they're narrating, right? The flight for the passenger. Yeah. They're doing some cool stuff there. They're educating you on whatever. For those who don't, same kind of thing as like a pilot pilot. You don't know what you're looking at per se. They're pointing out interesting locations. They're teaching you how the thing works. All that stuff. And I mean, come on, that's like a perfect metaphor for what you do. It's not just that you're building the plan, you're also narrating things.   Tony Mauro: We're narrating things. The technical side is building the plan. And then the narrative really is one, explaining the plan in some terms that they can understand rather than just a lot of technical jargon because they don't need to master that technical side. That's what they're paying us to do.   Speaker 1: They need a navigator, if you will.   Tony Mauro: Yeah, they need a navigator. And a lot of times for us, just like the pilot, is you want to point out to them in their financial lives what's worth paying attention to and what's maybe not. In other words, I always tell them, "Rate of return is important, but not the most important. That is not what we're going to focus on all the time. We're going to focus on getting you to your goal. And we'll talk about returns and whatnot, but we can't just be stressed out and focused always on that." And I think a lot of times a lot of advisors, what they do is they recommend a lot of things and they don't really explain why. And I think as a client should ask the question why if you don't understand, if it's not explained to you, make sure you understand why we're doing what we're doing because that's the most important thing. So I think it all kind of fits into why you're paying an advisor for both of those.   Speaker 1: Yeah. I think that was really well said there. And I mean, this is a fun little, nice little analogy to tie back in really well to what you guys do and to things that you enjoy. And it's a fun little topic because at the end of the day nobody gets to control the wind. We just have to ride the wind as the saying goes. But the pilots who fly year after year, they know how to work it. They know how to work with it, against it, all that kind of stuff. Good financial plan, good financial strategist does the same thing. So Tony, at the end of the day, I mean, that's what it's all about, getting somebody that you can relate to that can help you navigate the wind.   Tony Mauro: Navigate the wind. I encourage anybody that's not scared of heights, if they ever get the opportunity to go up in a balloon, whether it's on a vacation or even in your hometown, because it's fabulous. It's so quiet, so cool up there. And it's amazing how they can make... These guys and gals are really good. I mean, they can go up and land. I mean, that's what they do at some of these things. They land on a target.   Speaker 1: Yeah, precision. Yeah.   Tony Mauro: But it's a lot of fun and I encourage everybody to try it if they so choose.   Speaker 1: Awesome. Well, great topic this week. Thanks so much for hanging out with us here on the podcast, Playing with the Tax Man, short and sweet and to the point. And if you need some help with whatever it might be on your radar, then get yourself on the calendar. As I mentioned earlier, Tony is a CPA, CFP, and an EA of 30 plus years in the industry. So reach out to he and the team at yourplanningpros.com. There'll be links in the description. Yourplanningpros.com. You can find us on Apple or Spotify as far as the podcast goes. And of course you can find them online to get yourself some time onto the calendar at Tax Doctor, Inc. And again, don't forget to subscribe to us on whatever app you enjoy using. Plan with the Tax Man, and we'll see you next time here on the program. Thanks, Tony.   Tony Mauro: Thanks. Securities offered through Avantax Investment Services SM, member FINRA, SIPC. Investment advisory services offered through Avantax Advisory Services. Insurance services offered through an Avantax affiliated insurance agency. Investment strategies discussed in this episode may not be suitable for all investors. Please consult with a financial professional.  

A glimpse into the regulator of the future: FINRA's Greg Ruppert joins Jo Ann to discuss AI, data, financial crime, fusion cells, FINRA Forward, and how regulators can break silos and move at the speed of markets. Episode show notes, transcript and related links available online at: https://regulationinnovation.org/barefoot-innovation-podcast/.

If you've ever tried to day trade stocks, you've probably run into the requirement to keep at least $25,000 in your brokerage account just to trade actively. For more than two decades, that threshold, and the Pattern Day Trader rule behind it, governed how investors could access margin for day trading. But markets have changed dramatically since 2001, and earlier this year, FINRA replaced the Pattern Day Trader rule with a modern, risk-based framework under FINRA Rule 4210—the Intraday Margin Standard. On this episode, Racquel Russell, Director of Capital Markets Policy and Head of the Office of Financial and Operational Risk Policy, and James Barry, Senior Director, Credit Regulation, tell the story behind that change: why the old rules existed, why they stopped working, and what the new framework means for investors and member firms. Resources mentioned in this episode: FINRA Rule 4210 Interpretations of Rule 4210 Investor Insights: Know What Triggers a Margin Call Investor Insights: Frequent Intraday Trading: Understanding the Basics Investor Insights: Understanding the New Intraday Margin Requirements Reg. Notice 26-10: FINRA Adopts New Intraday Margin Standards Reg. Notice 24-13: FINRA Requests Comment on the Effectiveness and Efficiency of its Requirements Relating to Day Trading FINRA Forward FINRA Forward: A Year of Progress Blog Post: FINRA Forward's Rule Modernization—An Update Blog Post: Vendors, Intelligence Sharing and FINRA's Mission Blog Post: FINRA Forward Initiatives to Support Members, Markets and the Investors They Serve Blog Post: A Progress Update on Rule Modernization Find us: LinkedIn / X / YouTube / Facebook / Instagram / E-mailSubscribe to our show on Apple Podcasts, Google Play and by RSS.

One decision in your first year of service can make you a military millionaire and most people never make it. In this long-awaited 2026 refresh of their most popular episode ever, Spencer and co-host Jamie break down the Thrift Savings Plan from the ground up: what it is, how the 5% match really works, Roth vs. traditional, the combat zone triple tax benefit, and exactly how much to contribute to retire with seven figures. Whether you just left boot camp or you're 15 years in and think you're too late, this is the no-nonsense TSP playbook for the modern service member. Questions Asked: What is the TSP, and how is it different from a savings account or a civilian 401(k)? How do the TSP and a Roth IRA work together — and why aren't they the same thing? How much can you contribute in 2026, and how much do you actually recommend? When does the government's 5% match kick in, and how do you avoid missing it? Can you contribute to a non-working spouse's IRA? Roth or traditional — which should most military members choose? What are catch-up contributions, and who are they actually for? How does the combat zone tax exclusion (CZTE) supercharge Roth contributions? I'm 10–15 years in under Legacy High-3 — is the TSP still worth it? What happens to my TSP when I separate or retire? How do the G, F, C, S, and I funds work, and what should I pick? What are Lifecycle (L) funds, and are they good enough? Is the TSP still a good deal on cost compared to Fidelity's zero-fee funds? What are your personal allocations? If I'm feeling overwhelmed, what's the one thing I should do? Main Topics Covered: TSP basics: employer-sponsored plan, Blended Retirement System (BRS) vs. Legacy High-3, and the 2018 transition The 5% match explained — 1% automatic + 4% after your 2-year mark — and why it doesn't count against your $24,500 elective deferral limit 2026 contribution limits: $24,500 TSP, $7,500 per person IRA, and the $72,000 combined limit The millionaire math: 20% (officer) or 25% (enlisted) to Roth TSP = a seven-figure account in 20 years Setting it up in myPay and tsp.gov, and why you should spread contributions across all 12 months Roth vs. traditional for military pay, and why Roth wins for ~90%+ of service members The combat zone triple tax benefit and tax-free re-enlistment bonuses New for 2026: Roth in-plan conversions and the military mega backdoor Roth Late to the game? Why it's never too late to start Keeping, rolling over, or consolidating your TSP after separation — and Guard/Reserve combined limits Breaking down all five funds (G, F, C, S, I) — including the I Fund's ex-China index change Lifecycle/target-date funds as the ultimate hands-off solution, and why chasing Facebook-group "gurus" backfires Costs, expense ratios, front-end load fees (looking at you, First Command), and the mutual fund window Rebalancing, interfund transfers, and tax-efficient asset placement Spencer's and Jamie's personal allocations, and why there's no perfect portfolio Resources Mentioned: The Military Money Manual: A Practical Guide to Financial Freedom (Amazon / militarymoneymanual.com) Tools at militarymoneymanual.com: MilTaxCaster: https://militarymoneymanual.com/military-tax-estimator/MilTaxCaster Cost/expense ratio calculator: https://militarymoneymanual.com/costs/ Roth TSP conversion calculator: https://militarymoneymanual.com/roth-tsp-conversion-calculator/ Contribution percentage chart: https://militarymoneymanual.com/military-tsp-match-max/  tsp.gov and FINRA.org (unbiased resources) Related episodes: #2 (original TSP) https://podcast.militarymoneymanual.com/ , #39 (mutual fund window) https://podcast.militarymoneymanual.com/39-2022-changes-to-the-tsp-mutual-fund-window-tsp-app-more/, #211 (Roth in-plan conversions with Brian "Alf" O'Neill) https://podcast.militarymoneymanual.com/roth-in-plan-conversions-tsp-with-brain-alf-oneill-211/  Tax Planning To and Through Early Retirement by Sean Mullaney and Cody Garrett Spencer and Jamie offer one-on-one Military Money Mentor sessions. Get your personal military money and personal finance questions answered in a confidential coaching call. militarymoneymanual.com/mentor Over 24,000 military servicemembers and military spouses have graduated from the 100% free, Ultimate Military Credit Cards Course available at militarymoneymanual.com/umc3 In the Ultimate Military Credit Cards Course, you can learn how to apply for the most premium credit cards and get special military protections, such as waived annual fees, on elite cards. Learn how active duty military, military spouses, and Guard and Reserves on 30+ day active orders can get your annual fees waived on premium credit cards in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3 If you want to maximize your military paycheck, check out Spencer's 5 star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com. If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual.

Splashy IPOs make headlines, but do they make sense for long term investors? • Learn more at thriventfunds.com • Follow us on LinkedIn • Share feedback and questions with us at podcast@thriventfunds.com • Thrivent Distributors, LLC is a member of FINRA and a subsidiary of Thrivent, the marketing name for Thrivent Financial for Lutherans. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

(00:00) Besties are back! (00:13) Dario's two-part essay: regulatory capture, doomerism, and the data center backlash (10:25) FINRA for AI vs. MPAA for AI: SROs, thinking tokens, and the "DMV for AI" (30:12) Is an open source ban coming? Harnesses, FDI, jobs, and recursive self-improvement (56:33) a16z under DOJ investigation over "interlocking directorates" (1:01:15) Midterms: broken polls, the socialism surge, and CATO's DSA price tag   Come hang with the Besties at the All-In Summit | September 13-15: ⁠http://theallinsummit.com⁠ ⁠#AllInSummit⁠ Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg   Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@allin Follow on LinkedIn: https://www.linkedin.com/company/allinpodIntro   Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburgIntro   Video Credit: https://x.com/TheZachEffect   #allin #tech #news

Lawfare Senior Editor Kate Klonick is joined by three guests to discuss their recent article for the Council on Foreign Relations on the FINRA-style AI regulator reportedly under White House review: Vinh Nguyen, former chief AI officer at the National Security Agency and now CFR's Senior Fellow for Artificial Intelligence; Elham Tabassi, former chief AI advisor at NIST and now director of Brookings' AI and Emerging Technology Initiative; and Kat Duffy, CFR's Senior Fellow for Digital and Cyberspace Policy and director of LEAD AI.The conversation follows recent news of Demis Hassabis's July 14 framework calling for a U.S.-led Frontier AI Standards Body and a subsequent Bloomberg report that Treasury Secretary Bessent is involved in reviewing a version of the proposal. They discuss the problems but benefits with a FINRA-like model and what that means for public trust before the body even launches, especially for allies abroad who may be reluctant to treat an American, industry-funded body as an international standard-setter.To receive ad-free podcasts, become a Lawfare Material Supporter at www.patreon.com/lawfare. You can also support Lawfare by making a one-time donation at https://givebutter.com/lawfare-institute.Support this show http://supporter.acast.com/lawfare. Hosted on Acast. See acast.com/privacy for more information.

Sharad Kumar lives in Pleasanton, California with his wife and 2 kids. He enjoys playing all musical instruments, and spending time with his family. He has a 2 year old daughter, and a 14 year old son into robotics. He is also passionate about giving back to the community, through their company foundation.Harshit Omar lives in San Francisco, and is married with a 4 year old son. He used to be a street racer in his college days, loving fast cars and taking risk. Nowadays, he is a big marvel and comic book fan, along side his son. In fact, his son thinks he is Captain America, regularly wielding his shield and mask.A fun fact about both of these gentlemen: this is their third company to work together in, their second startup, and their wives are sisters. So they are connected by wives, and united by startups.In their previous startups, Sharad was leading sales and ops and Harshit was leading on the product side. When the company got acquired, it took them 8-9 months to integrate to a different cloud provider. They realized the model was broken, requiring expensive consulting services, and not convenient at all - and they wanted to figure out a better way.This is the creation story of Fluidcloud.SponsorsUnblocked (https://getunblocked.com/codestory)TECH Domains (https://get.tech/codestory)Mezmo (https://mezmo.com/codestory)Braingrid.ai (https://braingrid.link/code-story)Alcor (https://alcor.com/podcast)Equitybee (http://codestory.co/equitybee)Terms and conditions: Equitybee executes private financing contracts (PFCs) allowing investors a certain claim to ESO upon liquidation event; Could limit your profits. Funding in not guaranteed. PFCs brokered by EquityBee Securities, member FINRA.Linkshttps://www.fluidcloud.com/https://www.linkedin.com/in/sharadkumar123/https://www.linkedin.com/in/harshito/Checkout our episode stacks on Stacklist! https://stacks.codestory.co/ Hosted by Noah Labhart | Technical Founder & Startup Mentor.Advertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Kent Walker, President of Global Affairs at Google and Alphabet, joins Kevin Frazier to discuss Google's proposal for a two-pronged approach to AI governance: a Frontier AI Regulatory Organization, which like FINRA, would operate as an independent, industry-based governance body overseen by a federal agency and the application of existing laws to widely-deployed, less capable systems.The two also discuss the timing behind this proposal and its relevance in light of the recent Hugging Face / OpenAI incident.Follow Kent: @kent_walkerFind Scaling Laws on the Lawfare website, and subscribe to never miss an episode.To receive ad-free podcasts, become a Lawfare Material Supporter at www.patreon.com/lawfare. You can also support Lawfare by making a one-time donation at https://givebutter.com/lawfare-institute.Support this show http://supporter.acast.com/lawfare. Hosted on Acast. See acast.com/privacy for more information.