J.D. Banker

"When in doubt, do nothing" -Mikhail Kutuzov

@dualmagneto @rushicrypto @diablovalleycap Lot of family members and friends like this right now. I think nihilism is a rational, better choice here than letting yourself be miserable.

@DadInvest @rushicrypto @diablovalleycap I feel this

We only get around 75 years to live… if we’re lucky. And Trump has taken 10 of those years from our peace. That’s not small. That’s a huge part of our life gone.

@TXWomenRESIST @rushicrypto @diablovalleycap stop making politics your whole thing, you’ll be happier too.

@DadInvest @rushicrypto @diablovalleycap So apathy is your answer. SMDH

@NFL_DovKleiman Hard work pays off. Congrats to him and his whole family on the well-earned contract.

This is awesome: New Chiefs DB Alohi Gilman's wife posted a vlog of what their day looked like signing their $24.75 million deal with the team. Kansas City even flew them in on a private jet. It's so cool to see this inside look 🔥👀

@sweatystartup What!? That’s a wild thing to say! All the best to you and yours.

@sweatystartup I wish I hated anything as much as you hate AI. I envy your passion.

This was a really good idea. I got an offer of 4.5% fixed for three years or 4.7% fixed for five years on a securities-based loan today. Gonna take, loan it to my wife’s biz at AFR, and pay off the 7a SBA loan. Will cancel her disability policy the bank made us get and save the premiums.

Okay just talked to Schwab. Ballpark 5-6 pct interest only loan. Fortunate I have lots of liquidity with them and they are more than happy to give me money (and then some) to payoff my entire 7a loan at 8.25 pct next week. I’m past year 3 so no pre payment fee. Crazy some pple will do the max 70 pct leverage. My Schwab relationship manager said this was a problem during the COVID drawdown lol. x.com/blueprintsmb22…

@BryanGreenbaum Good game. Up 20 and ended up anxious and on the edge of my seat.

@DadInvest 😭

I was wrong here. Bad take.

@BasedFiduciary @zenartbjj It’s the total number of accounts, not clients.

@zenartbjj @DadInvest Idk… you couldn’t pay me to spread my practice that thin for so little net.

A practice for sale in the fox valley @BasedFiduciary ●AUM: $450,000,000.00 ●Number of Accounts: 2,000 ●Revenue (12 month): $1,800,000.00 ●Average Client Age: 55 Gross.

I’m getting honked at a lot today, I must look pretty cute.

@AdvisorJobs On the other hand the firms themselves can raise the advisor’s floor by reinvesting into technology (people love their single sign-on!) and expanding/enhancing its suite of services especially lending, IB, etc.

A lot of financial advisors underestimate how much their firm shapes their ceiling. Not just payout. But growth. Access to the right clients. The ability to differentiate. What you can and can’t offer. Two advisors with similar skill sets can have very different outcomes depending on where they sit.

@BankerBeaver @AdvisorJobs Thank you! Ultimately we can only control what we can control but I’m not worried about AI agents taking my entire job in this decade. There will be a longer tail for human advisors than the scaremongers want us to believe.

@AdvisorJobs @DadInvest already nailed it. They should stick with it.

Financial advisors, what’s your best advice here?

Don’t worry about the DIY segment of the population. They have always had a new talking point that’s going to disrupt the whole model, 8-12 years roboadvisors were going to automate everything and eliminate the need for humans. Those aren’t our customers anyway. Get started, do good work/help people improve their financial lives/make goals, earn trust and thereby more work and ultimately the rewards will follow.

@FranWalsh73 @cliffcornell_ The problem is the incidence won’t fall on the people most burdened by it. Because the richest people have already or will be further incentivized to move their tax residence. So it will ultimately be a pretty regressive increase to the middle class once inflation is factored in.

@cliffcornell_ What percentage of people would immediately plan their move if this was implemented?

A proposed NY estate tax exemption reduction from $7.35M to $750,000 with the top estate tax rate reaching 50% rather than 16% would be a significant change. Of course, this is just a proposal. But I can't help myself from thinking of the potential planning implications.

@Carl___Spackler @AdamSchefter 100%. I could imagine a good GM exploiting the new rule against a bad team’s who won’t be there to pay the price in five years.

@DadInvest @AdamSchefter Iggles too, Roseman would manipulate the shit out of it which I would love

The Cleveland Browns submitted a rule that would allow teams to trade draft picks five years out instead of three.

@ccmembersonly Commonwealth countries only. But not you India.

@FrankieFF_ Nah my flow’s been wack (stress) for years.

@Bill_Nickelson Always.

Is rage quitting a bad idea?