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So You Want to Be a Trader?

So You Want to Be a Trader? About 15 years ago or so, a friend of mine told me about a stock. He said it can’t miss. So I looked up the company and saw it was manufacturing parts for the Palm Pilot. I decided to invest and within 24 hours I had sold the...
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Facebook IPO

Facebook IPO While this blog deals with the financial services industry and not investment strategy or even one stock, I would be remiss if I, too, didn’t jump on the Facebook blog bandwagon. With everyone gearing up for the huge Facebook IPO last Friday, one would think that things would go smoothly.  Brokers were ready,...
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Governance: Compensation

Governance: Compensation 3rd in a Series As a follow-up to our initial tax tip in this series entitled “Governance Issues for Tax-Exempt Organizations”, which was released on April 25, 2012, WithumSmith+Brown has compiled a list of what we believe to be “best practices” with respect to each topic included in the Federal Form 14114, Governance...
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Advice to all Broker-Dealers Out There…

Advice to all Broker-Dealers Out There… Last week’s blog mentioned issues discussed at the New York State Society Broker-Dealer Conference. In particular, one of the presenters mentioned that BDs should keep it simple. The BD should not guarantee anything nor should its assets secure anything. Why is this important to the BD? Well, in calculating...
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Broker-Dealer Conference Summary In NYC

Broker-Dealer Conference Summary In NYC This past week the New York State Society of CPAs held their annual Broker-Dealer Conference at the New York Marriot Marquis. I was unable to attend as I had an AICPA Peer Review Board meeting in North Carolina. One of my partners, Brian Wallace, who heads up the WS+B Broker-Dealer...
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Plan Fiduciaries: Don’t Crash and Burn With Your TDF Glidepath

Plan Fiduciaries: Don’t Crash and Burn With Your TDF Glidepath Email Dave Business owners and other fiduciaries involved in company-sponsored retirement plans, like a 401(k) plan, have all the elements of personal risk associated with being a fiduciary. Many plan sponsors have put in place target date funds (TDFs) in order to address some of...
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