Just today, I cancelled my ChatGPT subscription — I don’t need it anymore. I’m not alone. It’s not as good as Claude. Paid subscriptions to ChatGPT have plateaued because there is so much more competition. Now you may think: does it matter if OpenAI fails to generate income of $300bn? If a company fails, does…
Three people died and seven others were rescued Friday after a boat capsized in Geneva Lake as a strong storm passed through southern Wisconsin, an official said. Many injuries were reported in Wisconsin’s Walworth County after the storm toppled trees, knocked down power lines and damaged buildings, said Tom Hausner, undersheriff for the Walworth County…
A Walcott, Iowa insurance agent has been charged with over 20 felonies for allegedly opening insurance policies under the names of family who had no knowledge that the polices were taken out, the Iowa Insurance Division announced. Stanly Blythe, 61, was arrested on June 26 and booked into the Scott County Jail, where he was…
FASB published a proposed Accounting Standards Update (ASU) intended to improve investment company financial reporting by amending how investment companies measure the fair value of an equity security that is subject to a contractual sale restriction. The deadline for comments is July 17. For investment companies, the proposed amendments would require them to consider a…
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not…
News release The Governor of the Bank of England, Andrew Bailey, has announced that Rhys Phillips will be the next Chief Cashier and Director of Notes. He will take up the role on 19 October 2026. Governor Andrew Bailey said: “Banknotes play a central role in public life. They serve not just as a means of…
Welcome to the July 2026 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors! This month’s edition kicks off with the news that Salesforce, RightCapital, and YCharts have all launched…
It’s always interesting to watch Empower’s acquisitions and strategies that do not follow the norm. Contrary to CEO Ed Murphy’s pronouncement last year that they were on the hunt for a national RIA firm, their latest move to acquire Milliman’s defined contribution, defined benefit, and health and welfare administration signals an interest in benefits, which,…
A new Bureau of Labor Statistics Monthly Labor Review helps clarify the relationship between pay and job satisfaction. The take-home message is a resounding, “It depends.” Using Federal Reserve survey data on workers who changed jobs between 2021 and 2023, the report finds that changes in pay and benefits alone don’t always improve happiness on…
We are grateful for comments to Larry Ball, Yuriy Gorodnichenko, Ina Hajdini, Lubos Pastor, seminar participants at the University of Chicago, Harvard, University of Iowa, and participants at the NBER Inflation: Frontiers or Research and Policy conference. The views expressed herein are those of the authors and do not necessarily reflect the views of the…