For The Business Owner
Small Business Succession Planning
The US Small Business Administration’s Office of Advocacy defines small businesses as those with under 500 employees. In aggregate these organizations make up 99.9% of all businesses and employ nearly half of all U.S. employees.[1] Clearly, small businesses play a...
Passing a family business down from generation to generation is not always possible.
Passing a family business down from generation to generation is not always possible. However, most small business owners want to ensure that the firm and culture they have developed over time is preserved well into the future regardless of family involvement. An...
Why Small Business Owners Should Offer Retirement Plans
According to a recent industry survey, more than 60% of small business owners are not saving enough money for their own retirements. If the employer is not saving the right amount, it is logical to suspect that the employees likewise are failing to save appropriately....
For The Non-Profit
Collaboration: The Key for Non-Profit Partnerships
Non-profits must often operate with modest means and resources. Those who work in the non-profit sector are constantly operating with limited resources for effective marketing, outreach, and raising awareness for their cause and potential supporters. However, many...
How a Financial Advising Firm Can Help a Non-Profit
Earlier this year I had the pleasure of attending Momentum Nonprofit Partners’ Conference – it was an insightful event, especially through the lens of someone working in finance. The speaker mentioned the term “bizsplaining”, as an act where financial professionals...
Is your cash reserve fund working smart for you?
Many nonprofit organizations have a cash reserve fund of which the primary objective is to take on limited risk. The secondary priority would be the amount of yield that fund is able to get. Considering these two concerns many nonprofits consider just two choices,...
For The Personal Investor
We’re here for you as always.
March 12, 2020 The last few weeks have been difficult. The exogenous shock of COVID-19 has created an atmosphere of confusion and panic across the globe. In addition to the turmoil in financial markets, the virus has affected scores of people in a more personal way...
Lifestyle Inflation
Young or old, we all experience the pressure to increase our spending as we make more money. Typically, when someone moves into a position where they earn more money, they will increase their spending as well. This phenomenon is called lifestyle inflation, and it can...
Credit Score
Individual credit scores and what affects them can be a complicated and sometimes a mysterious part of personal finance. Debt is like fire, it can be a useful tool to cook food and heat things, but used improperly, it can be devastating. However, when used responsibly...
For Cash Management
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Behavioral Biases Series
I visualized my grief if the stock market went way up and I wasn’t in it—or if it went way down and I was completely in it. My intention was to minimize my future regret, so I split my retirement plan contributions 50/50 between bonds and equities. —Harry Markowitz, father of Modern Portfolio Theory
According to an article published in Seeking Alpha, Regret Aversion “refers to the idea that investors fail to make decisions or take action because of the fear that they will regret it in the future. This bias is closely tied to errors of omission, where an error is...
A wise man should have money in his head, but not in his heart. —Jonathan Swift
A wise man should have money in his head, but not in his heart. —Jonathan Swift This week we are going to examine what is known as the Endowment Bias. According to a paper published in the Journal of Econimic Perspectivesby Daniel Kahneman, Jack L. Knetsch and...
Whosoever desires constant success must change his conduct with the times. —Niccolo Machiavelli (1532)
This week we are going to examine what is known as Status quo bias. According to Michael M. Pompian, author of Behavioral Finance and Wealth Management, “Simply put, Status quo bias, a term coined by William Samuelson and Richard Zeckhauser in 1988, is an emotional...