Welcome to our News Round-Up! Here, we’ll share with you interesting news in interesting ways, giving you a snapshot of a few of this past week’s headlines and events to get you caught up on what’s going on both here and abroad.
July 25, 2015
Quote of the Week:
- “I did not e-mail any classified material to anyone on my e-mail. There is no classified material. I’m certainly aware of the classification requirements and did not send classified material.” – Presidential candidate Hillary Clinton, addressing an ongoing investigation into whether or not she used a private email address inappropriately during her tenure as Secretary of State.
On Your Business:
- From a practice to a business. At eMoney, we don’t make it a secret that we want to serve advisors who run a business, not a practice. But a question we hear sometimes is “What’s the difference and how do I transition to running a business?” InvestmentNews.com has a great article on the subject. Liz Skinner spoke to advisor Gerard Klingman on transitioning his practice to a business and what he’s learned along the way–a must-read for every advisor.
On the Industry:
- Buzzword bingo! If you’re against the Department of Labor’s fiduciary proposal, you’re not alone. Many in the financial services industry are with you–and FA-Mag.com has put together a list of buzzwords this side of the debate tends to use quite a bit while voicing their displeasure. Odds are, words like “access,” “choice,” and “liability” sound familiar to you–they were some of the most-used words in the debate to this date. Get your “Buzzword Bingo” cards ready!
On the Economy:
- A major win for the online marketplace. You might have missed it if you weren’t paying attention, but something exciting happened on Friday morning. Thanks to growth in the North American market, shares in the online retail giant Amazon rose 20%, giving them a larger market capitalization than Walmart. While this is huge news for Amazon, the biggest winner seems to be their CEO and founder, Jeff Bezos. Bezos’ fortune rose by–hold on to your hats–$8.05 billion on Friday morning.
On the World:
- Uber teams up with a Chinese phone company. This is an interesting bit of news that technology-minded Americans should keep an eye on. Car-hailing app Uber has teamed up with Chinese company Xiamoi to offer phone delivery to Chinese consumers. By opening the Uber app, certain Chinese customers will be able to have mobile phones delivered to whereever they are without having to fork over any cash thanks to an automatic charge to the customer’s debit card. Some view this as a test run before Uber starts offering similar services in the United States.