Now that Lou Dobbs and other T.V. talking heads have mellowed on the outsourcing hysteria circa 2004, a sober look at the strategy, especially when it comes to the broker-dealer back office, is yielding positive results in efficiencies and cost containment.
TrustFort, a Woburn, Mass.-based provider of technology and back office solutions, is one company taking full advantage of the phenomenon. Founded in 2003, it specializes in working with independent broker-dealers to provide turnkey portfolio accounting systems and service teams.
TrustFort’s competitive advantage in an increasingly crowded space is its flexibility and customization capabilities, Atindra Barua (left) told AdvisorOne from the floor of the TechLeaders Broker-Dealer Technology Conference in Dallas on Tuesday.
“Most of our competitors offer a standardized solution, rather than what we call a focused solution,” Barua said. “They bundle their offerings; we break out different pieces to fit a particular firm’s needs.”
And because of their offshore back-office operations, they cost less than competitors, he adds, savings they pass on to customers.
“We recently did an analysis for a client of ours and here’s the answer,” he said. “For corporate a
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Renting a home is not as easy at it once was. As the economy degrades, more and more people are looking to rent, while the number of available rentals is down. Landlords have the upper hand and can afford to be much more selective about who they rent to. The renter has to be more savvy than ever to ensure a happy outcome.
According to Christina Argon of Ebay, rents went up 2 percent in the first quarter of 2011 and are expected to rise 3 or 4 percent over the rest of the year. Vacancy rates, however, are dropping as renters are choosing to stay put. Vacancy rates are down 6.2 percent from this time last year. The trends point to an improvement in the housing market and may be an early sign of economic recovery. It is not, however, currently a great position for the renter to be in. Rents are rising, vacancies are more scarce, competition is tougher for properties, and landlords are less willing to make concessions or offer incentives.
But there are many things a prospective tenant can do to hedge bets in the rental game. The first is to begin early and do your research. Start a month or two before your current lease expires. Once you find a house or apartment you like, contact the County Clerk to search the public records for legal action or liens against the property.
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As April 15 draws closer, many taxpayers clamber to file their federal tax return every year. For the year 2012, the deadline to file your tax return is April 17, courtesy April 15 being a Sunday, and April 16 being Emancipation Day. If you think you will be unable to file your federal individual income tax return by this deadline, it is advisable to file for an extension. However, remember to apply for an extension before the due date of April 17, as you will not be allowed to do so after this date. What is a Tax Extension The term ‘tax extension’ is a source of great confusion for many. The word ‘extension’ often dupes many into believing that it gives them extra time to pay their taxes. This is simply incorrect. When you file a tax extension, you just get an extra six months (as an individual taxpayer) to file your return. It does not extend your tax payment due date, which remains April 15, or April 17, as it is this year. This means that you have to pay your taxes in part or whole, before the April deadline. Read more…
As millions of baby boomers barrel headfirst into retirement, the sheer size of that generation is driving massive shifts in the way we think about — and fund — our post-working years. Indeed, at the rate things are changing and in the direction they’re moving, the early boomers are on track to be the last people to receive both full pensions and full Social Security benefits.
A combination of an extended bad employment market and a large number of boomers hitting Social Security eligibility has put an incredible strain on that system’s finances.
Indeed, by the time 2036 rolls around — or potentially sooner — Social Security’s Trust Fund is expected to be exhausted, which we lead to benefits falling by about one quarter. And even among those boomers with pensions, the ones born at the tail end of the boom are expected to have a mere 53% of the pension wealth of earlier generations.
How Much Will Your Retirement Income Be Slashed?
With Social Security’s Trust Fund not expected to last as long as the boomers do, and with so many pensions winding down, there’s little guaranteed money left to count on when it comes to retirement planning. Read more…
Hopes that European leaders will finally settle on a deal next week to prevent a default in Greece sent Treasury prices lower Friday.
The yield on the benchmark 10-year note rose to 2.01 percent, versus 1.99 percent late Thursday. Its price fell 22 cents per $100 invested.
European finance officials are meeting Monday to discuss a second bailout package for Greece. Without it the country could default on its debt next month. U.S. markets will be closed Monday for Presidents’ Day.
German Chancellor Angela Merkel, Greek Prime Minister Lucas Papademos and Italian Premier Mario Monti held a conference call and are “optimistic” the rescue package can be cleared.
Demand for low-risk Treasurys diminished as investors became more optimistic that a resolution of Greece’s long-simmering debt fiasco could be near.
In other trading, the yield on the 30-year bond rose to 3.16 percent from 3.14 percent. Its price fell 34 cents per $100 invested.
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