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Join Mark Stiving for a unique dual-guest conversation with Jon Jennings, longtime Impact Pricing sponsor and successful pricing recruiter, and Ryan Walter, a pricing veteran with over 15 years of leadership experience who recently transitioned into recruiting. Together, they reveal the insider's view of private equity pricing transformations, from deal diligence to exit strategies. In this episode, they explore why private equity firms are investing heavily in pricing capabilities, how to determine the right level of pricing leadership for different situations, and the evolving landscape of pricing careers. The conversation covers everything from pre-acquisition planning to AI's impact on pricing roles, offering valuable insights for both pricing professionals and business leaders. Why you have to check out today's podcast: Learn the critical difference between hiring a pricing person and orchestrating a pricing transformation. Understand the decision framework for determining whether you need a manager, director, or VP-level pricing leader. Explore why portfolio companies often resist pricing initiatives and how to overcome that resistance. “In the private equity space, part of the diligence is we think there's an opportunity of pricing improvement of some dollar amount to go get. In order to get that, you're going to need to transform the way things are working, which is building out a team.” – Ryan Walter Topics Covered: 02:05 – Ryan's journey into pricing: From MBA analytics to solving 7-Eleven's cigarette pricing crisis in Florida 03:29 – Pricing transformation strategies: Why PE's 5-year timeline perfectly aligns with pricing capability building 07:49 – Pricing as a center of excellence: The evolution from analyst roles to VP-level positions and what's next 11:05 – Private equity hiring differences: Stakeholder dynamics, investment thesis pressure, and the "shorter leash" reality 14:30 – Pricing problems in portfolio companies: When port cos don't see the problem PE firms see and how to bridge that gap 17:37 – Pricing transformation explained: Why it's all-encompassing and requires strategy, finance, data, and leadership skills 20:48 – Transformational roles in organizations: The difference between backfilling and building, and why transformation always wins 23:41 – Hiring pricing professionals for PE: Building pricing advisor roles at the firm level and sharing resources across portcos 26:17 – AI's impact on pricing: Data foundation requirements and immediate use cases like rebate design and negotiation prep 29:13 – AI in pricing strategies: Competitive data matching, SKU comparison, and the 80% solution approach 32:06 – Promoting the pricing field: Building the next generation of talent and educating people into pricing careers Key Takeaways: "In the private equity space, part of the diligence is we think there's an opportunity of pricing improvement of some dollar amount to go get. In order to get that, you're going to need to transform the way things are working, which is building out a team." – Ryan Walter "The reason I like that word [transformation] is it's all encompassing because it's not really one thing. It's not, oh, we need to get a director of FPA in here. We need to get somebody who understands strategy, who understands finance, who understands data and IT tools, and is a leader that can influence others." – Ryan Walter "If you're going to go for a pricing transformation, you have to dive in with both feet. Halfway doesn't typically work." – Jon Jennings Resources and People Mentioned: 7-Eleven: https://www.7-eleven.com/ Connect with Jon Jennings & Ryan Walter: LinkedIn: https://www.linkedin.com/in/jonjennings/ LinkedIn: https://www.linkedin.com/in/ryan-walter3141/ Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com
O mês de junho deve ser de maior oferta para o feijão carioca, principalmente com a entrada de nova mercadoria colhida. Um ponto que tem chamado a atenção dos produtores é em relação ao consumo. Pesquisas apontam que o feijão tem sido cada vez menos consumido entre crianças e idosos. Marcelo Lüders, presidente do IBRAFE, diz que algumas providências já foram tomadas pelo instituto nesse sentido. Em parceria com a Frente Parlamentar Agropecuária (FPA), já foram desenvolvidas conversas de conscientização sobre o consumo do grão nas escolas. Além disso, no centro-oeste brasileiro, tem-se a ideia de inaugurar um grupo de estudos e pesquisas voltado para o fortalecimento da produção de feijão em todo o país.
Finance can't lead from behind siloed systems. In this episode, we explore how OneStream connects financial and operational data—giving leaders a unified view to forecast faster, plan smarter, and act with confidence. We break down the real cost of disconnected planning, reveal the top pain points CFOs face, and share how integrated data transforms decision-making. Plus: real-world wins from a water treatment company and Academic Medical Centers. Check all episodes from this Nova Advisory podcast, here: http://www.novaadvisory.com/podcast
Catching up with FPA Leadership - with Dan Galli & Dennis Moore On this episode Kathleen and Kevin are joined by FPA national president-elect Dan Galli as well as long-time member, supporter and now acting CEO of FPA National, Dennis Moore. We chat about what brought Dan and Dennis to the FPA, why they both remain committed to the organization, what initiatives they are prioritizing at the national level over the next few years, and their ideas for improving communication between national and the chapters. We also discuss some of the lesser-known benefits available to FPA members, how to go about transitioning from local board participation to national engagement, and of course, the upcoming annual conference in Las Vegas. https://www.linkedin.com/in/djgalli/ https://www.linkedin.com/in/dennisjmoore/ https://ac.financialplanningassociation.org/
A Coalizão de Frentes Parlamentares do Setor Produtivo, do Congresso Nacional, criticou o pacote de medidas do governo Lula para “recalibrar” o decreto sobre o aumento do Imposto sobre Operações Financeira (IOF).Divulgado na noite de segunda-feira, 9, o "Manifesto pela responsabilidade fiscal e contra a escalada tributária: o Brasil exige mais eficiência" é assinado por 19 frentes parlamentares, incluindo a da Agropecuária (FPA), a de Comércio e Serviços (FCS) e a do Empreendedorismo (FPE).A coalizão expressa "veemente indignação e profunda preocupação com as recentes medidas fiscais propostas pelo governo federal, em especial o acordo costurado em torno da 'recalibragem' do IOF".Felipe Moura Brasil, Duda Teixeira, Bruno Musa e Ricardo Kertzman comentam:Papo Antagonista é o programa que explica e debate os principais acontecimentos do dia com análises críticas e aprofundadas sobre a política brasileira e seus bastidores. Apresentado por Felipe Moura Brasil, o programa traz contexto e opinião sobre os temas mais quentes da atualidade. Com foco em jornalismo, eleições e debate, é um espaço essencial para quem busca informação de qualidade. Ao vivo de segunda a sexta-feira às 18h. Apoie o jornalismo Vigilante: 10% de desconto para audiência do Papo Antagonista https://bit.ly/papoantagonista Siga O Antagonista no X: https://x.com/o_antagonista Acompanhe O Antagonista no canal do WhatsApp. Boletins diários, conteúdos exclusivos em vídeo e muito mais. https://whatsapp.com/channel/0029Va2SurQHLHQbI5yJN344 Leia mais em www.oantagonista.com.br | www.crusoe.com.br
No podcast ‘Notícia No Seu Tempo’, confira em áudio as principais notícias da edição impressa do jornal ‘O Estado de S.Paulo’ desta terça-feira (10/06/2025): Setores do Congresso e representantes da construção civil e do agronegócio reagiram à proposta de medidas alternativas ao aumento do IOF apresentada domingo pelo governo. O ministro da Fazenda, Fernando Haddad, anunciou “acordo” para compensar a perda de arrecadação elevando a taxação das bets e tributação de 5% nas Letras de Crédito Imobiliário (LCIs) e nas do Agronegócio (LCAs), hoje isentas. O presidente da Câmara, Hugo Motta (Republicanos-PB), disse que não há o compromisso de aprovação do pacote, que pode ser apresentado por MP. O deputado Pedro Lupion (PP-PR), presidente da Frente Parlamentar da Agropecuária (FPA), afirmou que “eles (governo) sabem que (o Congresso) não tem como aceitar isso”. Entidades do mercado imobiliário alertaram que a taxação das LCIs vai encarecer o crédito. E mais: Economia: Para economista, ‘ou se faz alguma coisa, ou o País vai parar’ Política: Cid afirma que Bolsonaro agiu em minuta do golpe e implica Braga Netto Internacional: Trump chama fuzileiros para conter atos pró-imigrantes na Califórnia Esportes: Com Raphinha, Brasil pode garantir a vaga no MundialSee omnystudio.com/listener for privacy information.
Bahia Farm Show 2025 inicia com novidades em infraestrutura. Syngenta realiza ONE AGRO, encontro exclusivo com grandes lideranças do setor. Exportações de carne suína crescem em volume e receita em maio. Filipinas absorvem 30% das exportações brasileiras, consolidando-se como principal comprador. Presidente da FPA rejeita proposta de taxação sobre as LCAs. Goiás mantém liderança na produção de girassol. Previsão do tempo: geada atinge região Sul nesta terça-feira.
Beyond Budgeting: Why Modern FP&A Teams Are Ditching the Annual Plan Traditional budgeting is slow, rigid, and often outdated before the quarter even ends. In this episode of CPM Customer Success, we unpack why leading finance teams are leaving the annual plan behind and embracing a more agile, data-driven approach to planning. Join us as we break down: Why traditional budgeting processes are falling short How “Beyond Budgeting” unlocks agility, responsiveness, and smarter decision-making What role platforms like OneStream play in enabling rolling forecasts, scenario planning, and AI-powered insights We also spotlight two real-world success stories: A global water technology company, which consolidated systems and slashed load times An Auto Industry company, who unified finance processes and gained product-level visibility 12 days faster If you're tired of chasing accuracy in spreadsheets, and ready to elevate finance into a true strategic partner — this episode is your blueprint for change.
Fala Carlão conversa com Nilson Leitão, Consultor da CNA e Vice-Presidente da Frente Parlamentar da Agropecuária (FPA), durante o evento da CNA sobre agricultura tropical, realizado em São Paulo. A entrevista faz parte da programação especial da Semana AgroAmbiental, uma iniciativa com o patrocínio cota ouro da Agrivalle, Publique AgroAgência e Plataforma AgroRevenda. Na conversa, Nilson falou sobre seu trabalho atual no Instituto Pensar Agro, destacou a importância de desenvolver políticas públicas com base na realidade da produção tropical brasileira, não apenas em padrões internacionais, e abordou as expectativas para a COP30. Também refletiu sobre a necessidade de superar a polarização política para que o agro avance unido. A Semana AgroAmbiental conta ainda com o patrocínio cota prata da Green Has/TechFertil, Datagro e o apoio institucional da Embrapa. Fala aí, Nilson!Conheça os patrocinadores e apoiadores:Agrivalle: https://agrivalle.com.brPublique Agroagência: https://publique.comPlataforma AgroRevenda: https://agrorevenda.com.brGreenHas/TechFertil: https://www.greenhas.com.brDatagro: https://www.datagro.comEmbrapa: https://www.embrapa.brFala Carlão: https://falacarlao.com.br
Fala Carlão conversa com Muni Lourenço, Vice-Presidente da CNA e Presidente da Comissão de Sustentabilidade da CNA, durante a programação especial da Semana AgroAmbiental, uma iniciativa com o patrocínio cota ouro da Agrivalle, Publique AgroAgência e Plataforma AgroRevenda. Na entrevista, Muni falou sobre os preparativos da CNA para a COP30, destacando o protagonismo do Brasil na produção sustentável de alimentos e a importância de desmistificar narrativas equivocadas sobre o agro nacional. Ele também comentou a parceria estratégica com a Embrapa, a possível abertura da fazenda modelo da CNA para visitação durante o evento e a relevância da Frente Parlamentar da Agropecuária (FPA) nesse cenário. A Semana AgroAmbiental conta ainda com o patrocínio cota prata da Green Has/TechFertil, Datagro e o apoio institucional da Embrapa. Fala aí, Muni!Conheça os patrocinadores e apoiadores:Agrivalle: https://agrivalle.com.brPublique Agroagência: https://publique.comPlataforma AgroRevenda: https://agrorevenda.com.brGreenHas/TechFertil: https://www.greenhas.com.brDatagro: https://www.datagro.comEmbrapa: https://www.embrapa.brFala Carlão: https://falacarlao.com.br
Joey Loss is a co-founder of Strivus Wealth Partners, and he joins the show today to share how his career journey led him to start his own RIA and merge with another firm. If you're interested in starting your own firm, navigating career transitions, or learning what it's really like to go through a merger, this episode is for you! Listen in as Joey shares how a free meal at an FPA meeting sparked his interest in financial planning, leading him to change his major and complete multiple internships during school. He also walks through how he landed his first full-time role, the career decisions that led him to start his own firm, and the eventual merger with another firm. You'll hear about the challenges he faced in both launching and merging a firm—and why the journey has been worth it. You can find show notes and more information by clicking here: https://bit.ly/438MDo0
Em entrevista à Confederação da Agricultura e Pecuária do Brasil (CNA), o deputado federal Arnaldo Jardim (Cidadania/SP), vice-presidente da Frente Parlamentar da Agropecuária (FPA), defendeu agilidade na votação dos ajustes na Lei de Licenciamento Ambiental na Câmara Federal. Para o parlamentar, o Brasil é comprometido com a sustentabilidade. Arnaldo elogiou o texto aprovado pelos senadores, que retorna para análise dos deputados.
Looking for a community that actually supports you as a new financial planner? Blake Pinyan, Senior Financial Planner and Tax Manager at Anchor Bay Capital, joins the show today to talk about the NexGen community of the Financial Planning Association—a community geared towards meeting the needs of younger and newer planners. If you're interested in finding support as a new planner, expanding your network, or getting involved in a thriving professional community, this episode is for you! Listen in as Blake shares how he got involved, what makes NexGen unique, and the real impact it's had on his career. He highlights upcoming programs, in-person events, and the value of the online community for connection, learning, and professional growth. Whether you're looking to expand your network or find your footing in the industry, don't miss hearing how new planners can join and use NexGen to enhance their careers. You can find show notes and more information by clicking here: https://bit.ly/4mbzvpO
Em entrevista ao jornalista Estevão Damázio, da Confederação da Agricultura e Pecuária do Brasil (CNA), o deputado federal Alceu Moreira (MDB/RS), que é coordenador institucional da Frente Parlamentar da Agropecuária (FPA) na Câmara dos Deputados, criticou a atuação do Ibama. Segundo ele, os embargos são decorrentes das autuações ambientais realizadas pelo Instituto Brasileiro do Meio Ambiente e dos Recursos Naturais Renováveis. O parlamentar gaúcho solicitou informações ao presidente do Ibama, Rodrigo Agostinho Mendonça, a respeito dos números de embargos em áreas rurais.
Em entrevista ao jornalista Estêvão Damazio da CNA (Confederação da Agricultura e Pecuária do Brasil), o senador Zequinha Marinho (Podemos-PA), presidente da Comissão de Agricultura e Reforma Agrária do Senado e coordenador de Orçamento da Frente Parlamentar da Agropecuária (FPA), cobrou uma resposta do governo sobre o Plano Safra 2025/2026 e o Seguro Rural. Segundo o parlamentar, a proposta da CNA para o Plano Safra, apresentada recentemente ao governo federal, é a mais adequada para que o setor enfrente as dificuldades do atual ambiente geopolítico internacional. A CNA defende um Plano Safra de R$ 594 bilhões, que atenda às necessidades do setor. O parlamentar também comentou sobre a importância da aprovação de projetos que tramitam no Congresso Nacional, como a Regularização Fundiária e o Licenciamento Ambiental. Após quatro anos em análise no Senado, a proposta de uma Lei Geral do Licenciamento Ambiental (PL2.159/2021), que está em análise nas Comissões de Meio Ambiente e de Agricultura, terá um relatório único para os dois colegiados. O objetivo é simplificar e agilizar o processo de licenciamento ambiental.
Dani Martins está certa de uma coisa: as cicatrizes muitas vezes tornam a nossa identidade mais forte — não como marcas da dor, mas como testemunhos da potência que nasce quando entendemos a vida por um olhar mais amplo e generoso. Talvez isso explique por que ela tem ajudado tantas pessoas a buscarem novos entendimentos e direções para suas vidas pessoais e profissionais. Dani nos mostra que não devemos nos definir pelos acontecimentos, mas usar cada experiência, em especial as mais difíceis, como caminho de cura. Depois de enfrentar a dor da perda de cinco gestações e a complexidade de viver com esse luto, ela buscou sentido no que atravessou e hoje compartilha olhares e generosidade em tudo que faz. Neste papo com o podcast "45 Do Primeiro Tempo", a mentora de líderes, empreendedora e fundadora da FPA — uma comunidade inovadora dedicada a transformar o cenário do planejamento financeiro no país — contou sua história de vida, trouxe seu olhar sobre esse momento que estamos atravessando e foi categórica: “O invisível existe”. Learn more about your ad choices. Visit megaphone.fm/adchoices
Salve Dirty Birds! Mais um episódio do Falcons Play Action pra você amante da bola oval! No episódio de hoje: • Mock Draft Final dos Integrantes do FPA • Kirk Cousins pode ser trocado neste fim de semana? • Últimos rumores pré-Draft! Vem com a gente em mais um episódio e aproveite! #riseup LEMBRANDO QUE VOCÊ PODE AJUDAR O FALCONS PLAY ACTION A FICAR AINDA MELHOR: https://apoia.se/falconsplaybr Assuntos Abordados: NFL Free Agency, NFL Draft, Atlanta Falcons, Falcons, NFL, Julio Jones Não esqueçam de seguir nosso podcast nas redes sociais! (Twitter, Instagram e YouTube!): @FalconsPlayBRSee omnystudio.com/listener for privacy information.
O deputado federal Rodolfo Nogueira (PL/MS), presidente da Comissão de Agricultura, Pecuária, Abastecimento e Desenvolvimento Rural da Câmara dos Deputados, defendeu a aprovação de projetos que garantam segurança jurídica contra a invasão de terras. Em entrevista ao jornalista Estêvão Damázio, da Confederação da Agricultura e Pecuária do Brasil, o parlamentar também comentou outras propostas relevantes para o agro que tramitam no Congresso Nacional. Um dos projetos, de autoria da senadora Tereza Cristina (PP/MS), vice-presidente da Frente Parlamentar da Agropecuária (FPA) e líder do Progressistas no Senado, é o que trata do Seguro Rural, já aprovado no Senado e que aguarda análise na Câmara.
NESTA EDIÇÃO. Alexandre Silveira cobra da ANP a reforma regulatória da Lei do Gás e diz que a Petrobras não é a única responsável pelos altos custos Após cancelamento de leilão, afirma que parque térmico será acionado se necessário, mas descarta crise por atraso em contratação de potência Vice-presidente da FPA defende derrubada de veto para permitir acesso do Fundo Clima para projetos de transporte com gás natural e biocombustíveis Petrobras se prepara para sair na frente na oferta de combustível sustentável de aviação coprocessado.
O senador Zequinha Marinho (Podemos-PA), presidente da Comissão de Agricultura e Reforma Agrária do Senado Federal e coordenador de Orçamento da Frente Parlamentar da Agropecuária (FPA), cobrou explicações do Banco Central sobre a inadimplência das operações de crédito rural em todo o território nacional, com detalhamento por estado, com objetivo de criar políticas de apoio aos produtores rurais e o fortalecimento do mercado de crédito.
In this Medical Spa Show speakers series, we hear from Sara Cole, AGACNP-BC, CANS, Siren Medical Spa; Chakika Williams, DNP-L, MBA/HCM, FNP-BC, PMHNP-BC, FPA, SkyRose Rejuvenation Clinic & Spa; Alexander Rivkin, MD, Westside Aesthetics; Alyssa Rapp, Empower Aesthetics; Georgia Cirese, RN, CANS, CLT, Gorgeous Aesthetic Bar; Jenna Hilton, PA-C, Vibrant Skin Bar. They share their biggest wins, lessons learned, and must-know insights for conference attendees. Don't miss their sessions at Medical Spa Show 2025, from April 10 - 13, 2025! Sara Cole, AGACNP-BC, CANS Saturday, April 12: 10:10 - 10:35 a.m. | The Psychology Behind Your Best Consultation Sunday, April 13: 9 - 10:30 a.m. | When Is It Right to Say “No” Sunday, April 13: 11:15 - 11:45 a.m. | Addressing Lower Face Laxity Chakika Williams, DNP-L, MBA/HCM, FNP-BC, PMHNP-BC, FPA Saturday, April 12: 10:35 - 11 a.m. | Diversity in Aesthetics: All Faces Are Not Created Equal Alexander Rivkin, MD Friday, April 11: 3:50 - 4:15 p.m. | Nonsurgical Rhinoplasty: The Good, the Bad and the Ugly Alyssa Rapp Friday, April 11: 1:05 - 1:30 p.m. | Leadership and Life Hacks: Insights from a Mom, Wife, Entrepreneur and Executive Georgia Cirese, RN, CANS, CLT Friday, April 11: 3:50 - 4:15 p.m. | Sell It Like a Scholar: Leveraging Knowledge as a Strategic Sales Tool Jenna Hilton, PA-C Saturday, April 12: 3:50 - 4:50 p.m. | Panel: The Worst I Ever Had: Complications and How to Overcome Them --- Music By Ghost Score
Marcelo Tas recebe Roberto Muylaert no Provoca. Engenheiro de formação, mas consagrado como jornalista e escritor, o convidado foi secretário de Comunicação Social da Presidência da República no governo Fernando Henrique Cardoso, presidiu a Bienal de São Paulo e organizou os primeiros festivais de jazz do Brasil. No programa, ele relembra sua passagem pela presidência da Fundação Padre Anchieta/TV Cultura e compartilha sua visão sobre o papel das revistas no mercado atual da comunicação. Durante sua gestão na FPA, Muylaert contribuiu para a realização de programas clássicos que marcaram a história da TV Cultura, como Castelo Rá-Tim-Bum, Mundo da Lua e X-Tudo. Questionado por Tas sobre as diferenças entre televisão estatal e pública — como é o caso da Cultura —, ele destaca: "as empresas estatais, de um modo geral, com exceções, são muito pouco eficientes e criativas. Então, uma empresa estatal, em geral, é chata. Agora, quando você põe uma estatal na comunicação, que é multifacetada, onde muitas pessoas têm que fazer a coisa direito para dar certo, aí você vê que é impossível ter uma boa televisão estatal, com exceções. A TV pública é diferente. Na TV pública, você tem um conjunto de pessoas não subordinadas às regras da estatal e podendo se responsabilizar por aquilo”, afirma.
Em visita a Belo Horizonte, a vice-presidente da Frente Parlamentar do Agronegócio, deputada federal Ana Paula Leão conversou com Marco Antonio Soalheiro, no Mundo Político. A parlamentar veio tratar com o DNIT e o DETRAN sobre melhorias nas estradas federais e estaduais que cortam Minas. Ela explica que o mau estado das rodovias é um problema para a circulação das mercadorias e que há também um defesa por investimento do governo federal em ferrovias que, afirma a deputada, tem potencial de baratear os produtos. Ana Paula critica o governo Lula que estaria pondo a culpa do alto custo dos alimentos na conta dos produtores. Também defende a cesta básica agora acrescida de carne e leite. Sobre a participação dos produtores rurais na COP 30, a vice-presidente da FPA diz que o “o agro não é o vilão de tudo” e pode tirar o mundo da crise climática.
Abate de bovinos chegou a 39 milhões de cabeças, alta de 15% e novo recorde da série histórica. Setor de suínos e aves também cresceu em 2024. Simulador de deriva permite manejo de defensivos agrícolas. Pequenos agricultores têm até 31 março para inscrever propostas no PAA. FPA crítica decisão de zerar alíquota de importação da sardinha em conserva e classifica medida como ameaça à indústria pesqueira. Último dia de verão será marcado por temporais no Sudeste brasileiro.
Nas últimas semanas, o preço do milho vem apresentando altas significativas, aproximando-se dos R$ 95 a saca em algumas regiões. Mesmo com uma boa produtividade na safra 24/25, a diminuição da área plantada pode afetar a disponibilidade do grão até a chegada do milho de segunda safra ao mercado. Mas será que o preço alcança ou ultrapassa os R$ 100? #HoraHdoAgro #Agricultura #Milho #Preço #Dolar #Commodities #Graos #Agro #Lavoura #Corn ProdutividadeEntrevistados:Dep. Fed Arnaldo Jardim, Cidadania/SPRogério Gonçalves, Diretor da Associação Brasileira de Engenharia AutomotivaNelio Wanderley, CEO da Posto Seguro BrasilPaulo Molinari, Consultor da Safras & MercadoRenato Françoso, Consultor em Gerenciamento de Risco de Fertilizante StoneXDaniel Vargas, Professor da Fundação Getúlio VargasArthur Igreja, Especialista em Tecnologia e InovaçãoDef. Fed. Pedro Lupion, Presidente da FPA
O Projeto de Lei 715/2023, também conhecido como o PL dos Safristas, visa assegurar ao trabalhador safrista o direito de receber benefícios sociais, como o Bolsa Família, mesmo durante o período de contrato de safra. Em entrevista ao jornalista Estêvão Damázio, da Confederação da Agricultura e Pecuária do Brasil (CNA), o deputado federal Evair de Melo (PP/ES), coordenador da Comissão de Direito de Propriedade da Frente Parlamentar da Agropecuária (FPA), disse que está otimista com a aprovação da nova lei. O texto é de autoria do deputado federal Zé Vitor (PL-MG) e conta com o apoio dos parlamentares da FPA. A proposta já foi aprovada na Câmara dos Deputados.
The Senior Care Industry Netcast w/ Valerie V RN BSN & Dawn Fiala
Send us a textThe wave of long-term care insurance claims is rapidly approaching, and home care agencies need to be prepared. With nearly 4 million policies written between 1995-2005, we're entering a period where these policyholders—now in their peak claim years of 80-85—are seeking home care services in record numbers.Bill Comfort, with over three decades of experience in long-term care insurance, walks us through the critical steps agencies must take to successfully work with these valuable clients. First and foremost is understanding whether your agency qualifies as an eligible provider under various policy definitions. While many policies use the term "home health care" generically, the actual definitions vary widely. Most policies specify providers must be "licensed by the state if licensure is required"—a crucial distinction for agencies in non-licensure states.Documentation emerges as perhaps the most critical factor in successful claims management. Agencies must carefully document whether assistance with Activities of Daily Living (ADLs) is hands-on or standby—a distinction that can determine claim approval or denial. The caregiving notes must consistently reflect assistance with at least two of the six ADLs (bathing, dressing, transferring, toileting, eating, and continence) for clients to maintain benefit eligibility.Payment structures present another consideration, with Bill strongly recommending against accepting assignment of benefits until claims are fully established. This protects agencies from financial exposure when claims are delayed or denied. Instead, establish procedures to help clients submit claims while maintaining your direct billing relationship.Building referral partnerships with financial advisors and insurance agents offers tremendous growth potential. Organizations like NAIFA and FPA provide perfect networking opportunities where agencies can position themselves as knowledgeable resources. By demonstrating expertise in navigating long-term care insurance claims, your agency can attract both insurance-funded and private-pay clients.Ready to position your agency as an expert in long-term care insurance claims? Learn more about obtaining the Long-Term Care Claims Professional certification to demonstrate your expertise and grow this valuable revenue stream.Continuum Mastery Circle IntroVisit our website at https://asnhomecaremarketing.comGet Your 11 Free Home Care Marketing Guides: https://bit.ly/homecarerev
Em entrevista ao jornalista Estêvão Damázio, da Confederação da Agricultura e Pecuária do Brasil (CNA), o deputado federal Afonso Hamm (Progressistas/RS), coordenador da Comissão Trabalhista da Frente Parlamentar da Agropecuária (FPA), defendeu o Projeto de Lei 715/2023, que visa assegurar ao trabalhador safrista o direito de receber benefícios sociais.
Em entrevista ao jornalista Estêvão Damázio, da Confederação da Agricultura e Pecuária do Brasil (CNA), o deputado federal Afonso Hamm (Progressistas/RS), coordenador da Comissão Trabalhista da Frente Parlamentar da Agropecuária (FPA), defendeu o Projeto de Lei 715/2023, que visa assegurar ao trabalhador safrista o direito de receber benefícios sociais.
*) Desesperado com a queda livre da popularidade, o governo Lula busca descobrir as razões que levam a esse quadro. Uma das causas identificadas é a inflação dos alimentos. O que fez, então, o governo: decidiu zerar a alíquota de importação de vários produtos, como carne, café, açúcar e milho. A eficácia dessa medida para baratear o preço dos alimentos, no entanto, ainda é uma dúvida. Representante do agronegócio no Congresso, a Frente Parlamentar da Agropecuária (FPA) criticou o anúncio. Segundo a bancada, "as medidas apresentadas pelo governo federal são pontuais e ineficazes para efeito imediato, especialmente quando se gasta recurso interno ao zerar impostos para produtos importados, sem garantir o reforço ao apoio da produção brasileira".Neste episódio do podcast 15 Minutos nós falamos sobre a eficácia (ou não) da medida anunciada pelo governo federal para tentar baratear o preço dos alimentos. O convidado é o editor de Economia e colunista da Gazeta do Povo, Fernando Jasper.
Descobrimos que a Maratona de Marília, marcada pra acontecer no dia 23/3 só daria entrada no Permit da FPA hoje.Maratona de Tóquio vai rolar no sábado, às 21 horas!
Bom dia Agro 27/02/2025 - PSol querendo taxar exportações do agro, FPA e o Plano Safra, Venezuela, EUA e o petróleo
O deputado federal Arnaldo Jardim (Cidadania/SP), vice-presidente da Frente Parlamentar da Agropecuária (FPA), demonstrou preocupação com a taxação dos Fiagros. O veto do governo federal à isenção de tributos dos fundos de investimento voltados ao agronegócio segue movimentando o Congresso.
O senador Jaime Bagattoli (PL/RO), vice-presidente da Frente Parlamentar da Agropecuária (FPA), protocolou no Senado Federal o Projeto de Lei 205/2025, que busca garantir condições mais justas ao produtor que recorrer ao crédito rural. Em entrevista à Confederação da Agricultura e Pecuária do Brasil (CNA), ele ressaltou que o crédito agrícola é uma das principais formas de incentivo econômico ao produtor rural e à agropecuária no país.
Decreto de Lula chega no mesmo momento em que povos indígenas vão à FPA com um "pedido de socorro" para que possam progredir com a produção em suas terras.
Pharmacy CrossRoads is celebrating an incredible year of more than 60+ interviews with people in independent community pharmacy making a difference through technology, practice innovation, and networking to build stronger community pharmacies. Pharmacy CrossRoads is one of the most popular podcasts on the Pharmacy Podcast Network with an impressive 40,000+ downloads this podcast is one of the best shows about Independent Community Pharmacy. With an increase of pharmacy deserts throughout the country threatening access to life saving medicaitons and primary care providers driven to the brink exhaustion with so many patients needing access to care, the community pharmacy is more importatnt than ever before. Pharmacy CrossRoads is expanding its team. Started by Bruce Kneeland through the Pharmacy Podcast Network, the popularity of the show and themes will bring our listeners 4 new Hosts, each taking a theme which has personally impacted their work in community pharmacy. Adam Robinson We have Dr. Adam Robinson, PharmD, known as the "Work flow Whisperer" as a pharmacy owner of Save Rite Drugs in Radcliff KY, Adam will be brining real-world experieces of pharmacy ownership. Kris Rhea With over 15 years of pharmacy and healthcare business experience, Director of Business Development of Pharmacy Marketplace, Kris Rhea is joining the Hosts of Pharmacy CrossRoads to drive content about the business of pharmacy's impact on independent owners. Shahida Choudhry Owner of The Palms Pharmacy in Tampa FL, member of the board of directors with Independent Pharmacy Cooperative, and voted 4 years in a row as one of the "50 Most Influential People in Pharmacy" Dr. Shahida Choudhry PharmD is joining Pharmacy CrossRoads to participate in discussions about moving community pharmacy forward and away from the clutches of the PBMs hampering the effectiveness of our Pharmacists in communites across the country. Stacy Hall Pharmacy Business Executive Stacy Hall, MBA is the CEO of the Florida Pharmacy Association which brings Pharmacy CrossRoads significant insights from state policies, government programs, and a diverse knowledge of multiple sectors of pharmacy care. As CEO of the FPA, Stacy is in conistent communitcations with national organizations like the National Alliance of State Pharmacy Associations (NASPA) and the American Pharmacists Association (APhA). This will bring Pharmacy CrossRoads listeners an indepth conversation about issues impacting independent community pharmacies. "It's been an honor to work with Bruce. With over 40 years of Pharmacy Business experience and as a prolific writer for Pharmacy Times, Drug Topics, Computer Talk, Dispense Times, and other publications, podcasting was a natural fit to draw out Bruce's insights and guidance of relevant conversations about community pharmacy in the U.S." --stated Todd Eury, CEO of RxPR, LLC dba Pharmacy Podcast Network, "There's no other host on the PPN that's connected better with businesses looking to use podcasting as education for pharmacy onwers in a meaninful way which doenst sound like a boring commerical. We're looking forward to adding our 4 new podcast hosts to one of our most popular shows." To listen to the latest Pharmacy CrossRoads podcast featuring the new hosts, click here: (LINK) Subscribe on Spotify, Apple, and all podcast directories. About Pharmacy Podcast Network (PPN) The only platform of its kind, PPN offers a comprehensive range of podcasts and content related to pharmacy, covering topics such as careers, compounding, education, hospital and health system issues, politics, professional development, retail and community pharmacy, senior and long-term care, specialty pharmacy, and student pharmacists.
Pharmacy CrossRoads is celebrating an incredible year of more than 60+ interviews with people in independent community pharmacy making a difference through technology, practice innovation, and networking to build stronger community pharmacies. Pharmacy CrossRoads is one of the most popular podcasts on the Pharmacy Podcast Network with an impressive 40,000+ downloads this podcast is one of the best shows about Independent Community Pharmacy. With an increase of pharmacy deserts throughout the country threatening access to life saving medicaitons and primary care providers driven to the brink exhaustion with so many patients needing access to care, the community pharmacy is more importatnt than ever before. Pharmacy CrossRoads is expanding its team. Started by Bruce Kneeland through the Pharmacy Podcast Network, the popularity of the show and themes will bring our listeners 4 new Hosts, each taking a theme which has personally impacted their work in community pharmacy. Adam Robinson We have Dr. Adam Robinson, PharmD, known as the "Work flow Whisperer" as a pharmacy owner of Save Rite Drugs in Radcliff KY, Adam will be brining real-world experieces of pharmacy ownership. Kris Rhea With over 15 years of pharmacy and healthcare business experience, Director of Business Development of Pharmacy Marketplace, Kris Rhea is joining the Hosts of Pharmacy CrossRoads to drive content about the business of pharmacy's impact on independent owners. Shahida Choudhry Owner of The Palms Pharmacy in Tampa FL, member of the board of directors with Independent Pharmacy Cooperative, and voted 4 years in a row as one of the "50 Most Influential People in Pharmacy" Dr. Shahida Choudhry PharmD is joining Pharmacy CrossRoads to participate in discussions about moving community pharmacy forward and away from the clutches of the PBMs hampering the effectiveness of our Pharmacists in communites across the country. Stacy Hall Pharmacy Business Executive Stacy Hall, MBA is the CEO of the Florida Pharmacy Association which brings Pharmacy CrossRoads significant insights from state policies, government programs, and a diverse knowledge of multiple sectors of pharmacy care. As CEO of the FPA, Stacy is in conistent communitcations with national organizations like the National Alliance of State Pharmacy Associations (NASPA) and the American Pharmacists Association (APhA). This will bring Pharmacy CrossRoads listeners an indepth conversation about issues impacting independent community pharmacies. "It's been an honor to work with Bruce. With over 40 years of Pharmacy Business experience and as a prolific writer for Pharmacy Times, Drug Topics, Computer Talk, Dispense Times, and other publications, podcasting was a natural fit to draw out Bruce's insights and guidance of relevant conversations about community pharmacy in the U.S." --stated Todd Eury, CEO of RxPR, LLC dba Pharmacy Podcast Network, "There's no other host on the PPN that's connected better with businesses looking to use podcasting as education for pharmacy onwers in a meaninful way which doenst sound like a boring commerical. We're looking forward to adding our 4 new podcast hosts to one of our most popular shows." To listen to the latest Pharmacy CrossRoads podcast featuring the new hosts, click here: (LINK) Subscribe on Spotify, Apple, and all podcast directories. About Pharmacy Podcast Network (PPN) The only platform of its kind, PPN offers a comprehensive range of podcasts and content related to pharmacy, covering topics such as careers, compounding, education, hospital and health system issues, politics, professional development, retail and community pharmacy, senior and long-term care, specialty pharmacy, and student pharmacists.
Are you ready to redefine financial advising and build true trust with your clients? Chuck Failla shares how embracing a fiduciary-first model is changing the game for advisors. In this episode, Larry Sprung interviews Chuck Failla, CEO of Sovereign Financial Group and host of goRIA, discussing the power of fiduciary advising, the shift from commission-driven models, and how RIAs are leading the charge in transparent client relationships. Chuck provides actionable insights on growing practices authentically and the value of educational marketing. Chuck Discusses: The transformative journey from commission-based advising to fee-only fiduciary models Why financial advisors should embrace the RIA framework for building authentic client trust How fiduciary principles empower clients to make informed financial decisions The importance of educational marketing to attract and retain ideal clients Misleading practices by "planners in name only" (PINOs) and advocating for ethical advising And more! Resources: Mitlin Financial The JOY and Productivity Journal by Lawrence Sprung Download Your Free Copy of the Couple's JOYful Money Guide Connect with Larry Sprung: LinkedIn: Larry Sprung Instagram: Larry Sprung Facebook: Larry Sprung X (Twitter): Larry Sprung Connect with Chuck Failla: LinkedIn: Chuck Failla X: @charlesfailla1 Sovereign Financial Group, Inc goRIA Podcast About our Guest: Chuck has been a financial advisor for more than 25 years. He started in the early 90s as a "cold calling cowboy" in NYC selling individual stocks. As he built his book, he always planned to go independent and did so in 1999 by opening an independent branch of Raymond James Financial. At that time, Chuck earned his CFP® designation and transitioned from individual stock picking to financial planning and asset allocating using mutual funds and SMAs. Chuck's practice evolved into what is today Sovereign Financial Group, Inc., an SEC registered RIA. With offices and advisors in the Northeast, Florida, and Colorado, Sovereign is one of the fastest growing RIAs in the country. Chuck is also the Director of Sovereign Advisor Solutions (SAS)-- a division of Sovereign Financial Group, Inc. SAS helps advisors transition to RIA by offering a comprehensive plug and play solution for going independent. Chuck's ties to the financial planning community run deep… he currently: Is the host of goRIA: Fueled by InvestmentNews ( www.goRIA.com ) Serves on the Board of Directors for the FPA of Connecticut and Chairs their Pro Bono / Public Outreach Committee. Chuck received his degree in Finance from The University of Connecticut and completed his coursework for the CFP® certification with The American College. He resides in Connecticut with his wife, two children, black lab and cats. In his spare time, he enjoys all things travel & outdoors -- on the weekends you will find him with his family hiking, camping, skiing, boating or just enjoying some grilling in the backyard. Disclosure: Guests on the Mitlin Money Mindset are not affiliated with CWM, LLC, and opinions expressed herein may not be representative of CWM, LLC. CWM, LLC is not responsible for the guest's content linked on this site.
O Café PT desta quarta-feira (18) recebe a presidenta do Conselho Curador da FPA e ex-ministra das Mulheres, Eleonora Menicucci. Ela fala sobre a publicação "Feminismo e o PT - trajetórias e desafios políticos".
Join us as we speak with FPA chapter past president, John McAvoy! John shares insights about working in the Retirement Plan space both with employers and participants. Thinking of doing more with 401Ks or IRAs, then you'll want to listen this episode. We start off the show learning about John's sustained commitment to the financial planning profession and giving back to our community. John F. McAvoy, CFP®, AIF® http://linkedin.com/in/johnfmcavoy J. Christopher Boyd, CFP®, CASL® http://linkedin.com/in/j-christopher-boyd-b932169 Kathleen Kenealy, CFP®, CPWA® http://linkedin.com/in/kathleenkenealy
On this week's podcast, Bert Herrero joins us from Pompano Beach, FL, to discuss his career in custom integration, including his new role as a franchise owner with Daisy, the national smart space installation and services company. Our guest today founded First Priority Audio in Pompano Beach back in 2001 and led that CI firm until a few months ago when it was acquired by Daisy. Then, just a few weeks ago, Daisy announced that Herrero would be launching the seventh Daisy franchise, choosing red-hot Ocala, FL, for its location. This is the second time in Daisy's first year that an independent owner who was acquired has turned around and launched an entirely new Daisy franchise location. Building from his track record of running a best-in-class operation for more than 20 years at FPA, Herrero is looking to leverage Daisy's robust branch support systems to establish a strong presence in Ocala.Special thanks this week's sponsor: the Sonos Era 100 Pro.
Jon Duggan is the Director of Financial Planning for Procyon Partners. He joins the show today to share how he found his way to the financial planning profession, starting with an economics major before discovering financial planning and getting through the toughest parts of the curriculum. If you're interested in learning how to navigate a career change, build valuable experience without internships, or explore the tax-planning side of financial advising, this episode is for you! Listen in as Jon shares how he compensated for his lack of internships by leading the student chapter of the FPA and working at the Aspire clinic—a peer financial counseling center at UGA—and how these experiences helped him secure his first role at a large RIA. He also discusses the various roles he held at different firms, his struggles, his growing interest in tax planning, and why he didn't envision himself as a long-term client-facing advisor. And don't miss where Jon shares comp ranges for the Director of Financial Planning position, which is $100-250k per year. (The lower end of the range will be at smaller firms where the Director of Financial Planning is a hybrid planning specialist and mid-level advisor, while the higher end of the range is going to be at firms where you are either running a large team—think 10+ direct reports—or in roles where you have dual relationship management/director responsibilities.) You'll also hear Jon's best tips for new planners and more. You can find show notes and more information by clicking here: https://bit.ly/3XybZHR
Family Matters with Jim Minnery - The Faith & Politics Show !
Bunni Pounds is a bundle of energy. After running a very successful political consulting firm, she founded Christians Engaged to awaken, educate and empower Christians to pray, vote and engage regularly in efforts to improve the nation's well being.Most Christians would agree that our government would be in better shape if more Christians were involved. However, polling tells us that in many places up to a third of the Christian community sits out key elections. Many of the people who share our values simply don't vote.Alaska Family Council has worked hard over the years to increase voter turnout in the pews. But we've lacked a dedicated staff person and solid technology to truly have as great of an impact as we'd like.Until now.Family Policy Alliance, our national partner we've worked side by side with since our founding in 2006, and Christians Engaged (CE), the nation's leading Christian-based, voter turnout operation, have united to form a powerful alliance dedicated to advancing biblical values in our nation's political landscape for generations to come.Bunni and I will chat about it on today's show. For more info about this strategic merger, watch this video.In short, Christians Engaged has developed the technology and tools we need as a movement to inspire and activate Christ-followers to get to the polls. However, CE lacked the national presence to effectively bring the program before the larger Christian community. Family Policy Alliance, and its network of state-based organizations like Alaska Family Council, has the footprint across the nation but lacked the right technological tools.Together, with FPA and CE now fully merged, Alaska Family Council is prepared to immediately implement this program. The goal is to educate and equip one million Christians across the nation—many of them from right here in Alaska—ahead of the November 2024 Elections.Stand by for more details and take a few minutes to tune in today.Support the Show.
Vanguard Hosts Brad Wright and Chris Boyd are joined by Ted Dinucci, an investment strategist with Vanguard's Investment Advisory Research Center, the team tasked with creating thought leadership for their intermediary advisory partners across a range of investment, wealth management, and financial planning topics. They discuss: -Individual bonds vs bond funds - How to utilize each for income during retirement -Which is better during a falling interest rate environment Learn more at: https://advisors.vanguard.com/advisors-home Join Vanguard at the following New England locations: -Vanguard RIA Social: Envio on the Rooftop – Portsmouth, NH: Wed Aug 21 st 4:30pm –7:30pm PLEASE RSVP -Vanguard RIA Social: Granary Tavern – Boston (Financial), MA: Thurs Aug 22 nd 4:30pm-7:30pm PLEASE RSVP -Vanguard RIA Meet & Connect Luncheon – Riverbend (Marriott) Newton, MA: Thurs Aug 22 nd 12pm-2pm PLEASE RSVP - Vanguard Symposium - Marriott Long Wharf – Boston, MA: Thurs, Oct 24 th 9:30am–3pm: RESERVE A SPOT NOW and you'll receive an email invite. Additional details to follow. Or at the FPA-NE NexGen event: - FPA NE NexGen Presents Build Your Client Service Team (formally Cross Industry Networking): Lily's Boston (Financial) Thus, Aug 8 th 5pm – 7pm - one of FPA's most popular events of the season! https://lp.constantcontactpages.com/ev/reg/t3jvpz5 [lp.constantcontactpages.com] Investment Advisory Research Center OCTOBER 2022 Individual bonds versus bond funds: Our thoughts on the advisory practice and client outcomes Key takeaways • Forecasting markets accurately is difficult. A much more reliable prediction to make: What questions clients will ask during periods of rising interest rates. Inevitably, rising rates environments prompt a flood of inquiries about whether advisors and their clients are better off purchasing individual bonds or pooled products, such as mutual funds and exchange-traded funds (ETFs). These questions stem directly from the “principal at maturity” myth, which argues that bond funds will sell bonds at a loss when rates rise, while portfolios of individual bonds can be held to maturity and avoid losses. • Ultimately, bond funds operate the same way as portfolios of individual bonds when cash flows are being reinvested. However, the former generally offer greater return opportunities, lower transaction costs, and higher liquidity—as well as time savings for your practice—than comparable portfolios of individual bonds. Thus, advisors pursuing portfolios of individual bonds should expect to pay greater direct and indirect costs for maintaining complete control of client bond portfolios. The price tag for this control is higher for buyers of municipal and corporate bonds than for buyers of U.S. Treasuries. • Given the higher risks and costs associated with portfolios of individual bonds, and the time they take to manage, most advisors are better served by low-cost mutual funds and ETFs. Particularly in the case of municipal and corporate bonds, it is likely that only clients with enough resources to build a portfolio of comparable scale to a mutual fund (or ETF) can afford to pay the costs for these control advantages. • Consider this report as a resource to inform your client discussions—either for proactive conversations about fixed income portfolio decisions, or to satisfy questions and concerns clients bring to you. For clients who may be partial to holding individual bonds for emotional reasons, the following analysis provides you with empirical data points that could guide them to a more beneficial approach. We also believe the strategies outlined herein can ultimately empower you with more time for higher-value activities, such as deepening client relationships. Authors: Ted Dinucci, CFA | Chris Tidmore, CFA, CPA | Chris Pettit, CFA Acknowledgments: The authors extend our thanks to Elizabeth Muirhead, CFA, and Edward Saracino for their contributions to this report, and to Donald G. Bennyhoff, CFA, and Scott J. Donaldson, CFA, for their prior research, which greatly informed this paper. 2 Introduction The market and economic backdrop today appear highly uncertain, with the highest inflation in 40 years, a series of large rate hikes from the Federal Reserve, and Russia's war in Ukraine, to name a few factors. Understandably, the confluence of these events has led to significant market volatility. It's also led some investors to question the merits of pooled bond vehicles and to ask whether they may be better served by directly owning a portfolio of individual bonds. In some cases, there can be benefits to owning individual bonds, for instance, a nominal immunization strategy where the goal is matching portfolio cash flows to liabilities. However, for the vast majority of advisors and the investors they serve, the likely appeal of individual bonds is largely based on the principal at maturity myth, and embracing it is likely to diminish returns, diversification, and return on your time. This paper offers our perspective on the primary advantages bond funds have over portfolios of individual bonds in the three key regards of returns, diversification, and return on your time (in exchange for less control over individual securities).1 More important, for the vast majority, accessing fixed income via low- cost active or passive funds is likely to provide better outcomes than the direct ownership of individual bonds—even with the hurdle of ongoing management fees. However, we'll first address the flaws in the principal at maturity myth, since this misconception is what generates so much interest in the topic. FIGURE 1. Benefits of choosing either a bond fund or individual bond BOND FUNDS INDIVIDUAL BONDS INCREASED CONTROL ✓ INCREASED DIVERSIFICATION ✓ INCREASED RETURN OPPORTUNITIES ✓ LOWER TRANSACTION COSTS ✓ 1 Vanguard 2017. 3 FIGURE 1. Benefits of choosing either a bond fund or individual bond BOND FUNDS INDIVIDUAL BONDS INCREASED CONTROL ✓ INCREASED DIVERSIFICATION ✓ INCREASED RETURN OPPORTUNITIES ✓ LOWER TRANSACTION COSTS ✓ The principal at maturity myth Holding an individual bond to maturity offers little to no financial benefit to you or your clients versus a pooled product when cash flows are reinvested, as often occurs in laddered individual bond strategies.2 Both portfolios operate in a similar way, but the laddered portfolio is likely to incur greater trading costs and have less diversification. The way that advisors account for laddered bonds in their client statements—by not marking the bonds to their current value, in order to avoid recognizing a paper loss—helps to reinforce the behavioral bias and may mitigate business risk for the advisor. Ultimately, bond prices are inversely related to changes in interest rates: When interest rates rise, the bond's price falls, and vice versa. This is because a bond's coupon payments are typically fixed at issuance, leaving price as the only variable that can be adjusted to make the bond's yield competitive with that of newly issued bonds of similar risk and maturity. This is illustrated in Figure 2. If 10-year bonds are currently yielding 4%, the price of a 2% coupon bond—to be competitive—must decline to a level that results in a 4% yield-to-maturity. In this example, that price is 83.65% of the face value (or $836.50 per $1,000 face value). The 2% bond would provide the same return as the 4% coupon bond trading at par, but some of the return would come from the bond's appreciation from $836.50 to its $1,000 value at maturity, as opposed to the coupon payments. This price adjustment punctures the common myth that holding an individual bond to maturity will provide a financial benefit to your clients. Absent transaction costs, when interest rates change, prices adjust so that total returns will be equal from that point forward, regardless of whether the bond is held to maturity or sold at the prevailing market price with the proceeds reinvested. FIGURE 2. How bond prices adjust to keep yields-to-maturity the same A comparison of hypothetical bonds with 10 years to maturity Coupon (annual interest payment) 6% 4% 2% Market price as a percentage of face value 116.35% 100% 83.65% Yield to maturity 4% 4% 4% Source: Vanguard. This hypothetical illustration does not represent any particular investment and the rate is not guaranteed. FIGURE 3. Total returns closely match starting yields, regardless of whether prices are above (or below) par 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 Forward annualized return versus starting yield Starting yield Forward annualized return when starting price is above par Forward annualized return when starting price is below par Figure 3 demonstrates this point by comparing the forward annualized return for the Bloomberg U.S. Aggregate Bond Index, adjusted for duration, with its starting yield. Here, it is readily apparent that future returns closely track starting yields. Moreover, the narrative doesn't change whether the index is trading above or below par. Therefore, when evaluating bonds with the same characteristics but with different coupon payments, it is always best to compare their yields to maturity.3 Notes: Returns represent the annualized return on the Bloomberg U.S. Aggregate Bond Index using monthly data for the period that aligns with the index's starting modified adjusted duration, rounded to the nearest month. For instance, if on December 31, 2005, the duration on the index was 5 years, the forward annualized return would be from January 1, 2006, to December 31, 2010. Yields represent the index's yield to worst (YTW) at the start of each calculation period. YTW is a measure for the lowest possible yield that may be earned on a bond absent the issuer defaulting. The last observation in the figure is September 30, 2015, because after that date the index's starting duration is longer than the time series. Past performance is no guarantee of future returns. The performance of an index is not an exact representation of any particular investment, as you cannot invest directly in an index. Sources: Vanguard analysis of Bloomberg data, as of March 2022. 2 Laddering refers to building a portfolio of bonds with a range of maturities. 3 Yield-to-maturity is the percentage rate of return on a bond, assuming that the bond is held to maturity. For bonds that may be called prior to their stated maturity, yield-to-worst is a preferable measure, as it accounts for the bond's call feature and represents the lowest possible yield that may be earned assuming no default. 4 As mentioned, this principal at maturity myth typically surfaces only when interest rates rise or are expected to rise. If rising rates mean there is a financial benefit to holding bonds to maturity, then falling rates should mean there is a benefit to selling them and reinvesting the proceeds in new bonds. Thus, an active trading strategy would be preferred over a simple buy-and-hold, laddered bond portfolio to take advantage of the market inefficiency. Ironically, this environment has been the norm for the past 20-plus years, yet the trading concept has not been endorsed by the investment community. One doesn't hear that when interest rates are falling, an open-end mutual fund or ETF with no set maturity date is the preferred structure. Thus, the appeal of holding a bond to maturity is likely emotional, as by not selling a bond at a discount to par, your clients are able to avoid the mental roadblock of “recognizing” a loss. Rather than let this behavioral bias win, advisors can seize this as an opportunity to flex their coaching muscles and leverage the trust they've built with clients to help produce better outcomes. Consider this analogy: Just because you chose not to sell your house when prices dipped does not mean it's worth more than the home of your neighbors, who did sell. The same logic applies to fixed income—whether the bonds are held individually, in a bond fund, or in a separately managed account (SMA).4 Diversification can mean higher returns for similar levels of risk In fixed income investing, diversification among issuers, credit qualities, and term structures is a primary consideration for municipal and corporate bonds. For laddered bond portfolios, issuance calendars do not offer consistent access to all types of bonds. On the contrary, with bond funds, greater diversification is possible because of the larger pool of investable assets and the continuous investment in new offerings. This, coupled with the professional staff needed to conduct risk, trade, and credit analysis allows funds to seek return opportunities farther out on the credit quality spectrum than is possible for an advisor. In the case of the latter, their clients may be seriously affected if even one issuer in their (much smaller) portfolio encounters problems. In the case of corporate bonds (and munis), the dynamic nature of credit risk makes it essential to diversify issuer- specific risk. The price volatility that results from a change in an issuer's credit rating is typically asymmetrical: When a credit downgrade occurs, a bond usually will drop much further in price than it would rise on news of an upgrade. This means that for holders of individual corporate bonds, the penalty for choosing a bond that is downgraded is usually greater than the reward for choosing one that gets upgraded. Professional fund managers who are fully focused on credit analysis may be better suited to spot these trends sooner and avoid the negative effects of downgrades and defaults. FIGURE 4. Incremental pickups in yields available relative to AA rated corporates Average option-adjusted spread Average cumulative defaults 0.0% 0.2% 0.4% 0.6% 0.8% 1.0% 1.2% 1.4% 1.6% 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% AA rated Broad investment-grade Credit quality 0.98% 0.55% As a result, many individual bond portfolios exhibit a higher-quality bias relative to bond funds because of the inability to fully benefit from diversification. As shown in Figure 4, higher return opportunities, in terms of incremental yield, are available beyond AA rated corporates to compensate for the low, but always possible, risk of default—even when staying within the corporate investment-grade universe. A more diversified approach that spans the spectrum of investment-grade corporates can translate into a meaningful increase in yield without sacrificing the primary role of high-quality fixed income in a portfolio—acting as a ballast to risk assets. It should be noted that diversification of credit quality can also be achieved through passive exposure. Notes: Average option-adjusted spreads (OAS) cover the period of January 1997 to April 2022. AA rated as represented by ICE BofA US Corporate Index Option-Adjusted Spread; and broad investment-grade as represented by ICE BofA US Corporate Index Option-Adjusted Spread. OAS is a measure of the difference in yield of a bond and the comparable risk-free rate, adjusted to account for any embedded option. Analysis begins with AA rated corporates, as there are only two AAA rated corporate issuers. Average cumulative defaults are calculated by FitchRatings and represent the 10-year average cumulative defaults for the period of January 1990 to December 2021. Default rates are calculated on an issuer or security basis as opposed to dollar amounts. Sources: Federal Reserve Bank of St. Louis, FitchRatings, and Vanguard analysis, as of April 2022. 4 Separately managed accounts are investment portfolios that are directly owned by an investor and managed by a professional investment firm. 5 FIGURE 5. Growth of hypothetical $1 million initial investment from January 1997 Ending wealth in (million USD) $3.2 $3.3 $3.4 $3.5 $3.6 $3.7 $3.8 $3.9 $4.0 AA corporates Broad I-G corporates $4.1 $4.2 Ending wealth with AA corporates Excess wealth with lower quality Figure 5 translates the lost return opportunities in Figure 3 into actual excess wealth created by expanding the investment opportunity set beyond AA rated bonds.5 For a long-term investor, being broadly invested in investment-grade corporates would have produced an additional $400,000 of nominal wealth, given a hypothetical, initial $1 million investment in 1997, relative to the same investment in AA rated corporates. Moreover, through broad diversification, as an advisor, you would be able to increase your client's long-term expected returns for their fixed income holdings, while significantly reducing single-issuer risk and still maintain high overall credit quality. Notes: Figure assumes a hypothetical initial $1 million investment on January 1, 1997, and held until April 30, 2022. AA corporates as represented by ICE BofA 5–10 Year AA US Corporate Index; and broad I-G corporates as represented by ICE BofA 5–10 Year US Corporate Index. Sources: Vanguard analysis of Morningstar data, as of April 2022. Past performance is no guarantee of future returns. The performance of an index is not an exact representation of any particular investment, as you cannot invest directly in an index. Transaction costs are real, but often go overlooked All bond portfolios incur costs. Though the management cost component often receives the lion's share of attention because it is readily apparent and known in advance, it also represents only one part of the equation. Less scrutinized, but similarly detrimental to long-term financial outcomes are transaction costs (e.g., bid-ask spreads). Ultimately, bid-ask spreads tend to vary by trade size and bond sector, and the size of the spread is typically larger for small transactions. Bond mutual funds and ETFs buy and sell large quantities of bonds, and these large transactions can command higher prices for sales and lower prices for buys. So long as the size of the spreads paid or received are inversely related to purchase lot size, bond funds have a transaction cost advantage over individual bond portfolios. The benefits of scale are most significant in the municipal bond market, but still relevant and tell a similar story to that of corporates. Figure 6 illustrates this point. It shows that in the municipal bond market, the spread for a retail trade (less than $100,000 per bond) on average has been consistently higher than that for an institutional trade. Specifically, between January 2019 and April 2021 the effective spread for transactions with a par value between $25,001 and $100,000 averaged 56.4 basis points (bps), while transactions with a par value of over $1 million averaged 20.2 bps. This differential translates to lower total return for clients who are not able to transact at scale.6 Additionally, large firms, such as Vanguard, are able to get the broadest access to bonds in the primary market, so it's not only about the size of the trade and lower costs, but also what bonds one gets to purchase. This is especially important as there tends to be a drop-off in liquidity as time passes from issuance. FIGURE 6. Spreads are significantly wider for retail trades relative to institutional trades (bps) $10,000 or less $10,001- $25,000 $25,001- $100,000 $100,001- $1 million $1 million+ 20.2 56.4 35.5 63.6 81.9 In the end, higher spreads translate into lower returns. Whether creating a taxable or tax-exempt bond portfolio for a client, the basic decision comes down to this: Does the fund expense ratio detract less from the portfolio's total return than (1) the return surrendered by a higher credit-quality bias, if one exists, (2) the default risk, if there is no quality bias, or (3) the additional transaction costs? It would be rare for the fund expense ratio (particularly in the case of a lower-cost bond fund) to be larger than the other costs. Notes: The above figure shows the average effective spread for municipal bond transactions of various sizes from January 2019 to April 2021. Effective spread is a measure of customer transaction costs and is computed daily for each bond as the difference between the volume-weighted average dealer-to-customer buy and sell price, and is then averaged across bonds using equal weighting. Sources: MSRB data and Vanguard analysis. 5 Though an advised client's fixed income portfolio is unlikely to be comprised of only intermediate-term (5- to 10-year maturity) U.S. corporate bonds. 6 As a simple example, if constructing an initial bond portfolio with an average duration of five years and transaction costs of 50 bps, it would translate to 10 bps per year. 6 Control of the portfolio One, or perhaps the only, advantage of self-directed individual bond portfolios and, to some extent, SMAs over pooled vehicles is the owner's ability to influence portfolio decisions. The motivation for maintaining control generally falls into three camps: strict portfolio guidelines that place firm restrictions on portfolio characteristics, such as credit-quality (e.g., all-AA portfolio) or limits on derivatives usage; matching portfolio cash-flows with specific liabilities (e.g., cash-flow matching); and tax concerns. Given the inflexibility of the first, and presumably, high-level of certainty of the second, we'll focus on the potential tax considerations, as certain common beliefs may be overstated and therefore warrant a discussion. Regarding taxes: Because clients directly own the bonds in an SMA or a laddered bond portfolio, as their advisor you can use any net losses from individual bond positions for tax purposes to partially offset your client's earned income or to offset realized capital gain liabilities from other investments. A mutual fund or ETF, on the other hand, cannot pass through realized losses to its shareholders. Instead, the fund uses realized losses against realized gains, and carries forward any excess losses to be used against future gains. Although this may defer the pass-through of losses, it provides long-term tax efficiency to the pooled structure. In addition, as the advisor, you have a further option: You can sell your clients' fund shares to realize a loss where applicable. Regarding individual bond portfolios or SMAs, another factor to consider is that to take advantage of losses in these accounts, you will incur transaction costs for your clients on both the sale of the current bond and the purchase of the new bond. Though all the above applies to both taxable and tax- exempt bonds, in terms of the latter, there is often the additional consideration of alternative minimum taxes (AMT). With an individual bond portfolio or SMA, the portfolio can be tailored to bonds that are exempt from AMT or specific to issues from your client's home state. While this is true, it is important to acknowledge that there are currently a number of state-specific vehicles available for your clients—particularly in states with high tax rates. Also, though it's sometimes forgotten, the key point that advisors should be concerned with is seeking to maximize client after-tax returns, rather than with minimizing taxes. Bonds issued outside a client's home state and bonds subject to AMT often carry higher yields to maturity. As a result, your clients may well get higher after- tax returns from a portfolio including such bonds. In addition, clients gain from increased diversification—an important benefit. With the preceding considerations in mind, it may be impractical to transition clients from their existing SMA solutions or portfolios of individual bonds into a primarily fund-aligned strategy. For advisors that already utilize an SMA or construct their own bond sleeves, a bond fund can serve as a strong complement—by providing some additional liquidity to the portfolio and a solution for reinvesting periodic cash flows from their individual bond holdings (or SMAs) to reduce potential cash drag. Conclusion For the reasons described in this paper, the vast majority of advisors who invest for their clients are best served through low-cost bond funds. Only those advised clients with the resources to achieve scale comparable to that of a mutual fund should consider putting certain control features ahead of the benefits that a pooled investment vehicle offers. Funds generally provide better diversification, greater return opportunities, lower transaction costs, and higher liquidity for your clients. For advisors, the time savings from outsourcing the day-to-day portfolio management can be reinvested in higher returning opportunities, such as deepening client relationships and growing your practice. Although bonds that are held directly can provide certain advantages over bond mutual funds—primarily related to control over security-specific decisions—such control comes at a cost. To construct an individual bond portfolio, an advisor must assign a very high value to the control benefits to justify the higher costs and additional risks involved. 6 7 References Bennyhoff, Donald, Scott Donaldson, Jamese Dunlap, and Daren Roberts, 2017. A topic of current interest: Bonds or bond funds? Valley Forge, Pa.: The Vanguard Group. Bennyhoff, Donald G., 2009. Municipal bond funds and individual bonds. Valley Forge, Pa.: The Vanguard Group. Donaldson, Scott J., 2009. Taxable bond investing: bond funds or individual bonds? Valley Forge, Pa.: The Vanguard Group. Li, David, Charlotte L. Needham, and Jake Han, 2022. 2021 Transition and Default Studies. FitchRatings. Wu, Simon Z., and Nicholas J. Ostroy, 2021. Transaction Costs During the COVID-19 Crisis: A Comparison between Municipal Securities and Corporate Bond Markets. Washington, D.C., Municipal Securities Rulemaking Board. Connect with Vanguard® advisors.vanguard.com • 800-997-2798 All investing is subject to risk, including the possible loss of the money you invest. Be aware that fluctuations in the financial markets and other factors may cause declines in the value of your account. There is no guarantee that any particular asset allocation or mix of funds will meet your investment objectives or provide you with a given level of income. Bond funds are subject to the risk that an issuer will fail to make payments on time and that bond prices will decline because of rising interest rates or negative perceptions of an issuer's ability to make payments. Investments in bonds are subject to interest rate, credit, and inflation risk. Although the income from municipal bonds held by a fund is exempt from federal tax, you may owe taxes on any capital gains realized through the fund's trading or through your own redemption of shares. For some investors, a portion of the fund's income may be subject to state and local taxes, as well as to the federal Alternative Minimum Tax. Diversification does not ensure a profit or protect against a loss. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute. We recommend that you consult a tax or financial advisor about your individual situation. Vanguard is investor-owned, meaning the fund shareholders own the funds, which in turn own Vanguard. © 2022 The Vanguard Group, Inc. All rights reserved. U.S. Patent No. 6,879,964. FAIBVBF 112022
What are the most important KPIs for your fertility clinics? How do you define them? We explore that with today's guest, TJ Farnsworth, CEO of Inception Fertility, as he shares his best practices for establishing KPIs to obtain reliable data, and how to use it effectively. Tune in as TJ provides his perspective on: How a small group text turned into the Fertility Providers Alliance (The field's first trade organization) The differences between trade organizations and medical societies Can we expect potential FPA guidelines? Leveraging political resources in light of recent legal decisions (Dobbs & the Alabama Supreme Court) Griffin questions if private equity's timeline is bad for investment in innovation and resources
O 3 em 1 dessa quinta-feira (04) debateu sobre o grupo de trabalho que apresentou relatório que regulamenta a Reforma Tributária. Parecer deixou carnes de fora da cesta básica isenta de impostos. Arthur Lira nega incluir carne na cesta e irrita agro. Presidente da FPA, Pedro Lupion, reclamou da decisão. Imposto do Pecado: parlamentares incluem jogos de azar e carros elétricos. Imposto foi criado para coibir consumo prejudicial à saúde. PF finaliza inquérito e indicia Jair Bolsonaro no caso das joias. Documento deve ser enviado ainda hoje ao STF. Em ano eleitoral, Lula vive cenário hostil com ausência de governadores. Dólar opera em baixa após governo anunciar corte. Fernando Haddad anunciou corte de R$ 29,5 bilhões no orçamento. Senado pode votar regras para Inteligência Artificial antes do recesso. PEC da Anistia: Lira recua com proposta após discordância de líderes. Governo da Argentina avisa Itamaraty sobre visita de Javier Milei ao Brasil. Governo brasileiro adota silêncio aos ataques do presidente argentino. Eleição no Reino Unido, investigação contra META e candidaturas do MST são outros temas debatidos pela bancada.See omnystudio.com/listener for privacy information.
We continue the recent theme of podcast listeners becoming podcast guests as I'm joined by Arcelia Wicker on the episode today. He is a financial planner at Bay Capital Advisors in the Virginia Beach area. We chat about his personal experiences of personal finances and how going through Financial Peace University helped him and his wife get their own financial house in order before going on to help host and teach the program for many years. When he realized that he would do that kind of work for free, it sparked an exploration of how to break into the world of financial advice and become the financial planner that he had always wanted. Thanks to getting out of his comfort zone and networking with his local FPA and NAPFA groups, Arcelia built a support network that helped him find his own path. We talk about his educational experience through the American College CFP/ChFC program, how Hannah Moore's externship gave practical and real-life examples of planning with clients, and how he balanced study time with active duty, family responsibilities, and prepping for the career transition. I love Arcelia's transparency across the lessons learned including how he ultimately passed the CFP exam, how he overcame a rescinded job offer, and his reframing of these setbacks. One of the things that struck me the most was how having his own financial house in order including being prepared to make their family lifestyle work post-military without a second income gave him the financial and mental capacity to wait for the right position. I know you can also find inspiration from his lessons learned and career advice. Arcelia also wants to extend an offer to connect if you are interested in learning more about his story or getting some perspective on your own career journey. You can connect with him on LinkedIn by checking the show notes for his profile. https://www.linkedin.com/in/arcelia-wicker-jr-chfc/ https://baycapitaladvice.com/ https://amplifiedplanning.com/externship/
In this episode, Steve Fretzin, Josh Blum, and Dr. Andre Caruso discuss:Mistakes attorneys make that fail to gain trust.Why trust matters and the different dimensions of trust.Ways we can quickly build trust.Making the right first impression. Key Takeaways:People hold how they feel about you higher than how competent you are.You do not always need to be in lawyer mode. Turn off the lawyer speak, be more authentic and human, and you will improve your trust and likeability.Put a little effort into building trust. You need to talk about more than the obvious or the weather.Treat people they way they want to be treated. It is your responsibility to adapt to their communication style to be more trusted. "When you can create some sort of connection with someone, it's going to help build that idea of trust. Even if it is just that subconscious thought of that connection." — Dr. Andre Caruso Find out more about the 10 Easy-to-Execute Hacks to Unlock Your Full Potential at: fretzin.com/events Thank you to our Sponsors!Lawmatics: lawmatics.com/bethatlawyerGet Staffed Up: getstaffedup.com/bethatlawyerGreen Cardigan Marketing: greencardiganmarketing.com Episode References:Start with Why by Simon Sinek About Josh Blum: Josh Blum has worked for nearly 20 years within the professional services and financial services industries and worked with thousands of advisors, attorneys and accountants in his career educating them and their clients on how to successfully become trusted advisors to their clients.Considered a subject matter expert Josh has served as President of the Financial Planning Association of Miami is a published author and currently sits as Chair of the Board of the FPA of Miami.In addition to the educational services Josh provides and his pro-bono work he is also cofounder and partner in JB and The Doctor and IVOLVE Performance & Development. JB and The Doctor provide soft skills training to professionals to achieve greater productivity, enhance communication and minimize the cost of employee turnover. About Dr. Andre Caruso: Dr. Andre Caruso, affectionately known as ”The Doctor” or “Doc”, combines his deep knowledge of psychology with extensive practical experience across many sectors. Earning a Doctorate in Psychology from Nova Southeastern University, his career has seamlessly transitioned from the hospitality industry along with significant roles in nonprofit organizations and special education, integrating with behavior modification and mindset development. This diverse experience underscores his ability to apply behavioral insights to effect positive, lasting change in both individuals and organizations.Doc's approach to educating is both scientifically grounded and deeply empathetic, focusing on empowering individuals and teams to reach their full potential. Through innovative program development and hands-on training, he has dedicated his career to enhancing personal and professional growth. With over two decades of experience, Dr. Caruso stands out as a pivotal figure in the field, embodying a unique blend of theoretical knowledge and practical wisdom to inspire insight, resilience and growth. Connect with Josh Blum and Dr. Andre Caruso: Website: jbandthedoctor.comJosh's LinkedIn: linkedin.com/in/josh3837Doc's LinkedIn: linkedin.com/in/drandrecarusoInstagram: instagram.com/jbandthedoctorFacebook: facebook.com/jbandthedoctorYouTube: youtube.com/jbandthedoctor Connect with Steve Fretzin:LinkedIn: Steve FretzinTwitter: @stevefretzinInstagram: @fretzinsteveFacebook: Fretzin, Inc.Website: Fretzin.comEmail: Steve@Fretzin.comBook: Legal Business Development Isn't Rocket Science and more!YouTube: Steve FretzinCall Steve directly at 847-602-6911 Show notes by Podcastologist Chelsea Taylor-Sturkie Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.
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