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Sep 14

Solution Q3 2021 Financial Reports Financial Results

By Financial reports No Comments

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Vancouver, British Columbia – (Newsfile Corp. – September 14, 2021) – Financial Solution Inc. (TSX: SFI) (the “Society“) a leading provider of luxury yacht and auto rentals in Canada, today announced its financial results for the third quarter ending July 31, 2021.

Profit Highlights for the Quarter:

  • Net income increased to $ 406,455 and adjusted net income(1) increased to $ 531,092.
  • Net sales increased 58% from the prior year quarter to $ 6,228,929.
  • The total lease and finance contract portfolio decreased 3.5% to $ 22,647,562 from the prior quarter.
  • Quarterly dividend on common shares of $ 0.001 per share or returns approximately 1% to the Company’s current share price of $ 0.45 per share.

“Our third quarter results are a strong indication of pent-up demand for luxury vehicles in the market after such a long hiatus due to COVID. This summer we saw a significant increase in lease transactions and late vehicle sales. leasing rates remained extremely strong due to the continuing shortage of microprocessors impacting the launch of new luxury vehicles to market. After the quarter ended, our August was the busiest month since starting. COVID with over $ 3.2 million in new leases added to our internal portfolio, “said Bryan Pang, CEO of Solution. We are also very excited to move to the TSX and look forward to connect with more investors interested in better understanding our expansion plans and our unique approach to luxury asset ownership that is a perfect fit for our era current societal and economic situation. This timeline fits well with the rollout of our luxury and ultra-luxury LeaseClub programs in Ontario, designed to help Ontario luxury dealerships sell more vehicles and help consumers better manage their cash flow and their vehicle use options versus other rental or ownership options, ”Bryan concluded.

Financial results

Solution reports net earnings of $ 492,455, or $ 0.005, per share for the quarter ending July 31, 2021. This compares to net earnings of $ 235,222 or $ 0.003 per share for the quarter ending July 31 2020.

Adjusted net income, which more reflects actual cash earnings, for the quarter ended July 31, 2021 was $ 531,092(1) or $ 0.006 per share compared to $ 301,084 or $ 0.004 per share for the quarter ended July 31, 2020. Adjusted net income excludes the non-cash accretion charge related to convertible debentures and right-of-use assets of 28 $ 148, stock-based compensation expense of $ 288 and amortization expense of $ 10,201.

Solution’s operating cash flow for the nine-month period ended July 31, 2021 decreased slightly to $ 4,214,474, compared to $ 4,667,047 for the quarter ended July 31, 2020.

Rental portfolio

As of July 31, 2021, Solution had 290 vehicles in the In House rental portfolio, a net decrease of 3 vehicles and $ 795,428 during the quarter to bring the total rental portfolio to $ 22.6 million.

As of July 31, 2021, the average residual term of the portfolio leases is 1.7 years, weighted by the net book value of each vehicle. As at July 31, 2021, Solutions’ 290 leases generated annualized gross rental and rental income of approximately $ 5.9 million, which remained the same as in the previous quarter.

About the solution

Solution Financial began operations in 2004 and specializes in sourcing and leasing luxury and exotic vehicles, yachts and other high value assets. Solution works with a select group of luxury auto and marine dealerships providing lending solutions to customers who cannot obtain lease terms from traditional Canadian financial institutions or other lenders. Typical clients include new immigrants, business owners, and international students. Solution Financial provides a unique rental experience through which it partners with its clients to help them meet the challenges of acquiring, insuring, maintaining and upgrading vehicles and luxury assets in Canada.

Note 1- Non-IFRS financial indicators

The solution provides all financial information in accordance with International Financial Reporting Standards (“IFRS”). To complete our consolidated financial statements presented in accordance with IFRS, we also provide with this press release certain non-IFRS financial measures, including adjusted net income. In calculating these non-IFRS financial measures, we have excluded certain transactions that are not necessarily representative of our day-to-day activities or that do not have an impact on cash flows. These measures are not recognized measures under IFRS and do not have standardized meanings prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other issuers. These measures should not be viewed in isolation or as a substitute for analyzing our financial information presented in accordance with IFRS.

Caution Regarding Forward-Looking Statements

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Such information includes, without limitation, statements regarding our objectives, our strategies to achieve those objectives, as well as statements made regarding the beliefs, plans, estimates, projections and intentions of management, and statements. similar regarding expected future events, results, circumstances, performance or expectations that are not historical facts. Forward-looking information can generally be identified by the use of forward-looking terms such as “outlook”, “objective”, “may”, “will”, “expect”, “intend”, “believe” , “Should”, “plan” or “continue”, or similar expressions suggesting future results or events. This forward-looking information reflects the current beliefs of management and is based on information currently available to management. Although the forward-looking information contained in this press release is based on what management considers reasonable assumptions, there can be no assurance that actual results will be consistent with such forward-looking information. Certain statements included in this press release may be considered a “financial outlook” for the purposes of applicable Canadian securities laws, and as such, the financial outlook may not be appropriate for purposes other than this press release. hurry.

The forward-looking information contained in this press release is made as of the date of this press release and should not be construed as representing the views of Solution as of any date subsequent to the date of this press release. Unless required by applicable law, Solution’s management and board of directors do not undertake to publicly update or revise any forward-looking information, whether as a result of new information or future events. or otherwise.

For more information, please contact Sean Hodgins at (778) 318-1514.

ON BEHALF OF THE BOARD

(sign) “Bryan pang“
Brian pang
President, CEO and Director

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

NOT FOR DISTRIBUTION TO US WIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/96423

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Sep 13

ESG factors at the heart of the concerns of financial institutions

By Financial institutions No Comments

Financial institutions around the world are increasingly facing risks due to regulatory and reporting requirements that focus on the environmental, social and governance (ESG) impacts of their operations.

ESG strategy is crucial

There has been new legislation on ESG matters for the financial sector in 2021, including the Sustainable Finance Disclosure Regulation in the European Union and the Executive Order on Climate-Related Financial Risk in the United States.

The ESG performance of companies and financial sector institutions gradually influences investment decision making, lending criteria and insurance considerations. Clearly, companies unable to demonstrate an ESG strategy will jeopardize the long-term viability and resilience of their business.

While there is no definitive list of ESG risks for financial institutions to consider, they typically include a mix of the following.

Environment

Criteria examining an organization’s impact on the planet include:

  • Calculation of a company’s total emissions, as a measure of its commitment to fight climate change.
  • An entity’s plans for the transition to low-carbon use to ensure energy security.
  • Monitoring and reporting of greenhouse gas (GHG) emissions.
  • Set targets for pollution and waste practices.
  • The projects in which they invest or lend and the impact of these projects.

For financial institutions, the transition to green finance is not only key to an organization’s reputation, but is also emerging as a regulatory requirement globally.

Social

Criteria examining how an organization treats and values ​​its employees and surrounding communities include:

  • Labor management policies.
  • Health, safety and well-being commitments.
  • Impacts that an organization has on the local community and whether these effects are beneficial or negative.
  • Labor standards of a company’s suppliers.

These concerns are just a few of many for financial institutions, along with the need to incorporate policies for diversity and inclusion, social equality and customer privacy.

Governance

Governance criteria assess the corporate governance practices of a company. These focus on the structure of the board of directors, in particular the diversity of the board of directors, the quality and transparency of the audit, and compensation issues, such as executive compensation.

ESG risk preparedness varies

Financial institutions currently differ significantly in their preparation for the transition to sustainability, at which point organizational agility to meet new laws, requirements and customer expectations is going to be key.

In a recent Marsh poll, 80% of respondents in the financial services industry ranked climate change and ESG factors as an important or most important issue for their operations.

However, 42% of those surveyed said they have an ineffective process, if any, to identify, respond to and implement changes based on climate threats and ESG factors.

The survey also found that 80% of financial companies had yet to perform a full stress test on the financial impacts of climate threats on their current and future operations.

Conclusion

Organizations that take a more proactive and methodical approach to understanding the impact that ESG factors and climate change will have on their most valuable assets will undoubtedly be able to incorporate higher levels of resilience into their operations. As more attention is paid to ESG concerns globally, the need to act will continue to increase sharply.

Key actions to be taken include:

  • Evaluate the implications of ESG for your organization using industry data, risk indices, physical climate models, and the perspectives of key stakeholders.
  • Analyze and establish ways to control the physical, transition and reputational risks associated with ESG for your organization.
  • Analyze external reporting requirements. Many financial institutions around the world are already aligning with reporting frameworks, such as the Climate-Related Financial Disclosures Working Group (TCFD) and the Global Reporting Initiative (GRI).

By acting on the above, support the execution of ESG objectives in line with an organization’s risk appetite and integrate the practices into established environmental resource management and resilience frameworks.

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Sep 10

BPK-BPKP cooperate to expedite review of government financial reports

By Financial reports No Comments

BPK and BPKP will strengthen synergy and coordination through collaboration described in detail in the MoU

Jakarta (ANTARA) – The Indonesian Audit Agency (BPK) and the Financial and Development Oversight Agency (BPKP) signed a memorandum of understanding to expedite the follow-up review of the financial management of the State.

“As an auditing agency, BPK should work in synergy with BPKP under the Government Internal Oversight Apparatus (APIP) to monitor state finances,” BPK Chairman said, Agung Firman Sampurna, during the signing of the MoU here on Friday.

“BPK and BPKP will strengthen synergy and coordination through a collaboration described in detail in the MoU,” he added.

The newly inked MoU is an updated version of the previous MoU signed in 2011, Sampurna said.

Under the new agreement, BPK and BPKP have agreed to cooperate in exchanging data and information, he said.

According to Sampurna, this will be done using data from the information technology system developed by BPK and BPKP, using BPKP’s audit result report or BPK examination result, and using the opinion and BPK’s Examination Result Report Regarding the State Financial Management Review.

Other areas of cooperation between the agencies will include the use of auditors, joint audits on certain issues, education and training, research and development, as well as other activities in accordance with the agreement, a- he declared.

With this agreement, BPK and BPKP will expand the scope of their work to monitor and oversee the capacity of state institutions to manage the COVID-19 pandemic, he added.

“APIP acts as an independent and objective third line of defense. With this concept, the APIP plays an important role in the accountability of the implementation of national development, which corresponds to the role of BPK in the vision of BPK 2020-2024 ”, noted Firman.

Related News: COVID-19 Threatens Achievement of Five SDG Agenda Goals: BPK
Related News: Supporting State Budget Reallocations for COVID-19 Management: BKP
Related news: working to ensure that rice aid reaches targeted beneficiaries: BPKP

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Sep 03

Enron Corporation, FICO, Moss Adams, SAS Institute, IBM, BAE Systems – Clark County Blog

By Financial statement No Comments

The recent report on “2021 Financial Statement Fraud Market Report by Key Players, Types, Applications, Countries, Market Size, Forecast to 2027 » Offered by Credible markets, includes a comprehensive survey of geographic landscape, industry size as well as estimated company revenue. In addition, the report also highlights the challenges hampering the market growth and expansion strategies employed by the leading companies in the “Financial statement fraud market”.

A comprehensive competitive analysis that covers relevant data on industry leaders is intended to help potential market entrants and existing players competing with the right direction to arrive at their decisions. Market structure analysis discusses in detail Financial statement fraud companies with their profiles, market revenue shares, full portfolio of their offerings, networking and distribution strategies, regional market footprints, and much more.

Sample request with complete table of contents and figures and graphics @ https://crediblemarkets.com/sample-request/financial-statement-fraud-market-935828?utm_source=Priyanka&utm_medium=SatPR

By the main key players

Enron Corporation
FICO
Adams foam
SAS Institute
IBM
BAE systems
LexisNexis
Heart
PwC Australia
DXC technology

By types

Financial statement fraud detection solutions
Financial statement fraud prevention solutions

By applications

Large companies
Small and medium-sized enterprises (SMEs)

Geographically, the detailed analysis of the consumption, revenue, market share and growth rate of the following regions:

  • North America (United States, Canada, Mexico)
  • Europe (Germany, United Kingdom, France, Italy, Spain, Others)
  • Asia-Pacific (China, Japan, India, South Korea, Southeast Asia, others)
  • Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, others)
  • South America (Brazil, others)

Direct purchase this market research report now @ https://crediblemarkets.com/reports/purchase/financial-statement-fraud-market-935828?license_type=single_user;utm_source=Priyanka&utm_medium=SatPR

Some points from the table of contents

Global Financial Statement Fraud Market Research Report with Opportunities and Strategies to Drive Growth – Impact and Recovery of COVID-19

Chapter 1 Market Snapshot

Chapter 2 Market dynamics

chapter 3 Associated industry assessment

Chapter 4 Competitive market landscape

Chapter 5 Analysis of leading companies

Chapter 6 Market Analysis and Forecast, by Product Types

Chapter 7 Market Analysis and Forecast, by Applications

Chapter 8 Market Analysis and Forecast, by Regions

Chapter 9 North America Financial Statement Fraud Market Analysis

Chapter 10 Analysis of the financial statement fraud market in Europe

Chapter 11 Asia-Pacific Financial Statement Fraud Market Analysis

Chapter 12 South America Financial Statement Fraud Market Analysis

Chapter 13 Middle East & Africa Financial Statement Fraud Market Analysis

Chapter 14 Conclusions and Recommendations

Chapter 15 Annex

Do you have a specific question or requirement? Ask our industry expert @ https://crediblemarkets.com/enquire-request/financial-statement-fraud-market-935828?utm_source=Priyanka&utm_medium=SatPR

Key questions addressed in the report

  • What is the Total Market Value of Financial Statement Fraud Market Report?
  • What would be the forecast period in the market report?
  • What is the market value of the financial statement fraud market in 2021?
  • What are the views of key industry leaders on financial statement fraud?
  • What is the base year calculated in the Financial Statement Fraud Market Report?
  • What are the key trends in the Financial Statement Fraud Market report?
  • What are the market values ​​/% growth of emerging countries?
  • Which market has the maximum market share of the Financial Statement Fraud market?

Contact us

Credible market analyzes

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E-mail: [email protected]

Our Blogs:

https://businessreportmedia.com/

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Sep 01

The Development Bank will complement and strengthen existing financial institutions

By Financial institutions No Comments

Development Bank would provide more funds, technical support and training to foster economic growth

Professor Peter Quartey, director of the Institute for Statistical, Social and Economic Research (ISSER), said the National Development Bank (NDG) will complement and strengthen the operations of existing financial institutions.

He said the Development Bank will provide more funds, technical support and training, among others, to help economic growth.

Professor Quartey was speaking at a development dialogue organized by ISSER on the theme: “National Development Banks and Sustainable Finance in Ghana” in Accra.

ISSER chief speaking on “Synergies between the New National Development Bank”, said NDB will deepen financial intermediation, which will propel industry growth, NDB activities and yields.

He said NDB, by applying the wholesale model (EximBank, Agricultural Development Bank (ADB), National Investment Bank (NIB), Fintech), could serve more end customers and cover more sites without incurring high operating costs.

He said the wholesale model proposed by the NDB would foster the growth of private financial intermediaries who become the arms of the NDB, thus reaching underserved sectors and clients.

“The private financial institution that mediates NDB funds will partially absorb some of the NDB’s credit risk,” he said.

However, Professor Quartey said interest rates for end customers may be higher because private financial institutions have passed on their cost of financial intermediation as well as any other margins.

He said the NDB would not provide commercial loans or direct commercial loans to economic actors, but through the NIB, AfDB and Eximbank.

He said development banks, when functioning, would fill the gap in appointing directors to companies, deploying in-house expertise, underwriting and issuing equity, and playing a countercyclical role, supporting corporate levels. global investment and protecting the productive structure of the economy.

The ISSER chief said the Bank would serve as a source of investment funds for the country’s commercial banks and provide advanced medium and long-term financing instruments for specific sectors of the economy, focusing on ’emphasis on agriculture and industrial sectors.

It would also enhance the growth and expansion of many companies by injecting additional capital into the agricultural and industrial sectors through their respective designated banks.

He said the NDB should improve the country’s trade balance by generating more exports and encouraging import substitution, encouraging innovative technologies and improving management skills within the private sector through training.

Professor Quartey said that NDB would certainly provide long-term financing to economic actors and stimulate growth and work closely with Exim Bank, ADB and NIB with mutual benefits for these actors.

He said that with regard to synergies, there would be the intermediation of funds from NDB to end users, absorption of credit risks, provision of equity, technical support, vocational training and financial deepening, financial sector growth and NDB growth.

He said the success of the Development Bank would depend on employing competent managers, operated like a business and free from undue political interference.

“We should strengthen regulation to avoid another cleanup of the financial sector (2000, 2017, 2034?),” He added.

Dr Vera Fiador, senior lecturer at the University Business School, speaking on successful approaches and future national development banks, said there should be a need to look at the market failures that need to be addressed and the best way to go about it.

She said, “We also need to question some of the tested methods that have actually worked for the success of some development banks. “

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Aug 27

Bone Therapeutics strengthens its financial structure with

By Financial structure No Comments

REGULATORY INFORMATION

Disbursement offer for the first tranche of € 8.0 million, payment of which is expected in September.

Issue of warrants to the EIB and Patronale Life.

Renegotiation of the loan with Patronale Vie.

Gosselies, Belgium, August 27, 2021, at 9 a.m.: 00 h CEST – BONE THERAPEUTICS (Euronext Brussels and Paris: BOTHE), a biotechnology company focused on the development of innovative cell therapies addressing unmet medical needs in orthopedics and other diseases, today announced that it has received a disbursement offer from the European Investment Bank (EIB) for the first tranche of € 8.0 million of the € 16.0 million financing contract signed in July 2021. The first tranche of € 8.0 million will be released at the beginning of September 2021.

The receipt of the EIB’s disbursement offer for this first tranche follows the approval of the associated warrants issued by the Extraordinary General Meeting (“Extraordinary general meeting”) Of Bone Therapeutics which took place on August 23, 2021. It resulted in the issue of 800,000 warrants for the benefit of the EIB.

As part of this agreement, Bone Therapeutics also announces the renegotiation of the 800 convertible bonds issued on May 7, 2020 (for an amount of 2 million euros) to Patronale Life in a loan subject to the same repayment conditions as the agreement with the BEI, and the issue of 200,000 additional warrants subscribed unconditionally by Patronale Vie under the terms and conditions decided by the Extraordinary General Meeting. The 800 convertible bonds held by Patronale Life will be canceled as soon as the first tranche of € 8.0 million has been paid by the EIB. The 800 convertible bonds issued on May 7, 2020 into Intégrale remain unchanged.

Each warrant will give its holder the right to subscribe to one Bone Therapeutics share with an exercise price of € 2.52. The warrants will be exercisable from the date of repayment of the tranche concerned.

“We are very happy to receive the first tranche of our financing agreement with the European Investment Bank. Aligning the repayment conditions of the convertible bonds issued in 2020 with the terms of this financing agreement is an additional asset to strengthen our cash flow, ” said Jean-Luc Vandebroek, CFO of Bone Therapeutics. “This support gives us increased financial visibility to pursue our development. We sincerely thank the EIB and our shareholders, whose confidence has enabled us to take these decisive steps in our development. ”

The specific terms and conditions applicable to warrants associated with EIB loans are available in the minutes of the Extraordinary General Meeting of 23 August 2021, in the Investors section of the Bone Therapeutics website.

About the EIB

The European Investment Bank (EIB) is the European Union’s long-term lending institution, owned by its member states. It makes long-term funding available for sound investments in order to contribute to the political objectives of the EU.

About bone therapy

Bone Therapeutics is a leading biotechnology company focused on developing innovative products to meet significant unmet needs in orthopedics and other diseases. The Company has a, diverse portfolio of cell and biologic therapies at different stages ranging from preclinical immunomodulation programs to mid to late stage clinical development for orthopedic conditions, targeting markets with large unmet medical needs and limited innovation.

Bone Therapeutics develops a new generation viscosupplement, JTA-004, currently in phase III development for the treatment of pain in osteoarthritis of the knee. Made up of a unique combination of plasma proteins, hyaluronic acid – a natural component of the knee’s synovial fluid and a fast-acting pain reliever, JTA-004 aims to provide additional lubrication and protection to the cartilage of the joint. arthritis and relieve arthritis pain and inflammation. The positive Phase IIb efficacy results in patients with osteoarthritis of the knee showed a statistically significant improvement in pain relief compared to a viscosupplement.

Bone Therapeutics’ core technology is based on its advanced allogeneic cell therapy platform with differentiated mesenchymal stromal cells (MSCs) from the bone marrow that can be stored at the point of use in the hospital. Currently in preclinical development, BT-20, the newest product candidate for this technology, targets inflammatory conditions, while the lead investigational drug, ALLOB, represents a unique and proprietary approach to bone regeneration, which transforms stromal cells undifferentiated into healthy cells. donors in bone formation cells. These cells are produced through Bone Therapeutics’ evolutionary manufacturing process. Following the approval of CTA by regulatory authorities in Europe, the Company initiated patient recruitment for the Phase IIb clinical trial with ALLOB in patients with difficult tibial fractures, using its optimized production process. ALLOB continues to be evaluated for others orthopedic indications including spinal fusion, osteotomy, maxillofacial and dental.

Bone Therapeutics cell therapy products are manufactured to the highest GMP (Good Manufacturing Practices) standards and are protected by a broad portfolio of IP (Intellectual Property) covering ten patent families as well as know-how. The Company is based in the BioParc in Gosselies, Belgium. More information is available at www.bonetherapeutics.com.

For more information, please contact:

Bone Therapeutics SA
Miguel Forte, MD, PhD, President and CEO
Jean-Luc Vandebroek, Chief Financial Officer
Phone: +32 (0) 71 12 10 00
investor [email protected]

For media inquiries and Belgian investors:
Bepublic
Catherine haquenne
Phone: +32 (0) 497 75 63 56
[email protected]

International media inquiries:
Communications picture box
Neil Hunter / Michelle Boxall
Phone: +44 (0) 20 8943 4685
[email protected] / [email protected]

For French media and investor inquiries:
NewCap Investor Relations & Financial Communication
Pierre Laurent, Louis-Victor Delouvrier and Arthur Rouillé
Phone: +33 (0) 1 44 71 94 94
[email protected]

Certain statements, beliefs and opinions contained in this press release are forward-looking and reflect the Company or, where applicable, the current expectations and projections of the directors of the Company regarding future events. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by forward-looking statements. These risks, uncertainties and assumptions could have an unfavorable impact on the results and financial effects of the plans and events described herein. A multitude of factors, including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ materially from any anticipated development. Forward-looking statements contained in this press release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. Accordingly, the Company expressly disclaims any obligation or commitment to publish any update or revision to any forward-looking statement contained in this press release as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based. Neither the Company, nor its advisers or representatives, nor any of its subsidiaries or its officers or employees guarantees that the assumptions underlying these forward-looking statements are free from errors and accepts no responsibility as to the future accuracy of the statements. forward-looking statements. statements contained in this press release or the actual occurrence of anticipated developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.

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Aug 19

LPL Financial Reports Monthly Activity July 2021

By Financial reports No Comments

SAN DIEGO, August 19, 2021 (GLOBE NEWSWIRE) – LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (Nasdaq: LPLA) (the “Company”), today released its monthly activity report for July 2021.

Total advisory and brokerage assets at the end of July were around $ 1.13 trillion, an increase of $ 17.6 billion, or 1.6%, from the end of June 2021.

Total new net assets for July stood at $ 10.0 billion(1), resulting in an 11.5%(2) annualized growth rate. This included $ 3.0 billion in M&T Bank brokerage assets which incorporated in July(3). Total new net advisory services assets amounted to $ 5.7 billion, resulting in a(2) annualized growth rate.

Total customer cash balances at the end of July stood at $ 48.5 billion, roughly stable from the end of June 2021. Net purchases in July were $ 6.5 billion.

(End of period $ in billions, unless otherwise indicated) July June Switch July Switch
2021 2021 H / M 2020 A / A
Advisory and brokerage assets(4)
Advisory assets 588.4 577.6 1.9% 392.7 49.8%
Brokerage assets 541.4 534.7 1.3% 399.2 35.6%
Total advisory and brokerage assets 1,129.9 1,112.3 1.6% 791.9 42.7%
New net assets(1)
New net advisory assets 5.7 11.2 n / m 2.9 n / m
New net brokerage assets 4.3 14.8 n / m 0.0 n / m
Total new net assets(5) 10.0 26.0 n / m 2.9 n / m
Net brokerage to advisory conversions 0.8 0.9 n / m 0.7 n / m
Customer cash balances
Insured cash account balances 34.4 34.1 0.9% 33.2 3.6%
Deposit cash account balances 7.9 7.6 3.9% 7.6 3.9%
Total bank transfer balances 42.2 41.7 1.2% 40.8 3.4%
Cash balances in money market accounts 4.3 5.0 (14.0%) 1.6 168.8%
Money market funds purchased 1.9 1.7 11.8% 2.8 (32.1%)
Total money market balances 6.3 6.7 (6.0%) 4.4 43.2%
Total customer cash balances 48.5 48.4 0.2% 45.1 7.5%
Net buying (selling) activity 6.5 6.0 n / m 2.9 n / m
Market indices
S&P 500 (end of period) 4 395 4,298 2.3% 3 271 34.4%
Effective Fed Funds rate (average bps) ten 8 25.0% 9 11.1%
(1) The new net assets for July do not include the results of the Waddell & Reed advisers, as these advisers entered the LPL platform towards the end of July 2021.
(2) Waddell & Reed’s total assets and net new assets were not included in the calculation of the July annualized growth rate of new net assets.
(3) By the end of July, $ 18.6 billion in client assets had been integrated from M&T Bank out of a total of $ 21.9 billion, of which $ 15.6 billion in client assets had been integrated. in June and $ 3.0 billion in client assets that were integrated in July.
(4) Assumes retention of approximately 98% of total Waddell & Reed assets at the end of June 2021 and approximately 2% of total assets will not be converted. This equates to $ 68.9 billion in total assets, including $ 33.5 billion in advice and $ 35.4 billion in brokerage.
(5) Total new net assets include inflows minus outflows, plus dividends, plus interest, minus advisory fees.
Note: As of July 2021, approximately 280 Waddell & Reed Associate Advisors became Financial Professionals with LPL Financial upon onboarding to LPL’s platform and will be considered new Net Advisors in Q3 2021.

For more information on these and other LPL Financial business metrics, please see the company’s most recent earnings announcement, which is available in the quarterly earnings section of investor.lpl.com .

About LPL Financière
LPL Financial was founded on the principle that the firm should work for the adviser, not the other way around. Today, LPL is a leader * in the markets we serve, supporting more than 19,000 financial advisors, and approximately 800 institutional investment programs and 450 independent RIA companies nationwide. We are unwavering in our commitment to the advisor-centric model and our belief that Americans deserve access to objective advice from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services and technological resources that allow them to perfectly manage their practice. And they have the freedom to manage their customer relationships because they know their customers better. Simply put, we take care of our advisors so that they can take care of their clients.

* AIR Custodian (Cerulli Associates, 2019 US RIA Marketplace Report)
1st independent broker in the United States (based on total revenues, Financial Planning magazine June 1996-2020)
N ° 1 in brokerage services on behalf of third parties to banks and credit unions (TPM Annual Report 2019-2020 by Kehrer Bielan Research & Consulting)
Fortune 500 in June 2021

Securities and advisory services offered by LPL Financial LLC, a registered investment advisor. FINRA / SIPC member.

Throughout this communication, the terms “financial advisers” and “advisers” are used to refer to the registered representatives and / or representatives of the investment advisers affiliated with LPL Financial LLC. We regularly disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

Forward-looking statements
Statements in this press release regarding the number of advisers that LPL expects to reflect as net new advisers in the third quarter of 2021, and any other statements that are not related to current facts or conditions or which are not purely historical, constitute forward-looking statements. statements. These forward-looking statements are based on the historical performance of the Company and its plans, estimates and expectations as at August 19, 2021. Forward-looking statements do not guarantee that future results, plans, intentions or expectations expressed or implied will be achieved. The matters subject to forward-looking statements involve known and unknown risks and uncertainties, including economic, legislative, regulatory, competitive and other factors, which may cause actual financial or operational results, levels of The activity or timing of events is materially different from those expressed or implied by forward-looking statements. Significant factors that could cause or contribute to such differences include the determination of the newly integrated partners of Waddell & Reed to terminate their affiliation with LPL Financial, as well as the other factors set out in Part I, “Section 1A. Risk Factors ”in the Company’s 2020 Annual Report on Form 10-K, as may be amended or updated in the Company’s Quarterly Reports on Form 10-Q or other documents filed with the Securities and Exchange Commission. Except as required by law, the Company specifically disclaims any obligation to update any forward-looking statements as a result of developments occurring after the date of this press release, even if its estimates change, and you should not rely on any statements contained herein as representing the views of the Company as of any date subsequent to the date of this press release.

Investor Relations – Chris Koegel, (617) 897-4574
Media Relations – Lauren Hoyt-Williams, (980) 321-1232
Investor.lpl.com/contactez-nous

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Aug 04

Thiruvananthapuram Corporation Passes Administration Report, Financial Statements

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A Thiruvananthapuram City Society Council meeting on Wednesday adopted the annual administrative report for 2019-2020 and the annual financial statements for 2020-2021, after more than two hours of intense debate.

Mayor Arya Rajendran said changes, if necessary, would be made to the financial statements, based on certain discrepancies, as some of the opposition advisers pointed out.

The reports were presented to council for discussion in accordance with requests raised by opposition councilors at a previous council meeting. Bharatiya Janata Party (BJP) advisers Anilkumar and Karamana Ajith alleged that there were discrepancies in the number of vehicles owned by the company, according to the administrative report and in responses to questions from RTI.

Some vehicles were reported as missing in the administrative report. The advisers demanded that the Corporation file a complaint with the police and take action against the officials responsible for dereliction of duty. Standing committee chairman Dr Anil said he revealed the issue of missing vehicles at a previous council meeting and therefore BJP advisers should refrain from presenting it as their conclusion.

Ms Rajendran said a search committee had been formed to determine which vehicles were actually missing. Some of the vehicles had been abandoned in various places, as they were previously used for decentralized waste collection, which was no longer the case. The possibility of reusing some of these vehicles would be explored. A complaint would only be lodged with the police for vehicles that have actually disappeared.

Housing projects

BJP adviser MR Gopan also questioned the figures regarding housing projects in the administrative report. He said hardly any houses had been completed as part of the LIFE project in the company. The chairman of the social protection committee, S. Salim, denied these allegations, saying that the state had also increased funding for PMAY housing projects, in line with LIFE projects, and therefore gave more funds to beneficiaries for construction. more homes than all other states.

Tax liability

During the discussion of the annual financial statements, BJP adviser P. Ashokkumar alleged that the report was riddled with errors. There was a significant tax debt of ₹ 200 crore in the report. Details of people or institutions that owed taxes were to be made public, he said.

The ₹ 55 crore deputy mayor was part of the unpaid tax amount that had been passed on over the years. However, the remainder of the amount included expected government funds for this fiscal year.

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Jan 11

The strange case of the bankruptcy of Jet Airways: an analysis of the financial structure

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The bizarre case of Jet Airways bankruptcy: an analysis of the financial structure – Journal of Operational Risk





  • The overall risk to which companies are exposed in the market inevitably affects the financial structure.
  • The Altman Z-score and the Piotroski F-score are useful tools for predicting potential bankruptcy, and the Beneish M-score for predicting potential manipulation of profits as financial malpractice.
  • The case under investigation is the bankruptcy of Jet Airways.
  • The evidence that emerged from the analysis showed that there was no financial malfeasance, but problems with the connection between the business model and the financial model underlying the bankruptcy of Jet Airways.

The global aviation industry has changed very rapidly in recent years, mainly due to changing technology and business models. These changes have also impacted the industry in India, forcing Indian airlines to face new and unpredictable challenges, not always successfully. The bankruptcy of Jet Airways is a relevant but still “unsolved” example in this regard. We study the financial structure of the company, with the aim of understanding whether financial turmoil for an airline can be a precedent for predicting the risk of bankruptcy. A combined assessment using the Altman Z-score, Piotroski F-score and Beneish M-score emphasizes that financial instability functions as a predictor of bankruptcy (for Z– and F-scores) in the analyzed case, while excluding (through the M-score) the potential manipulation of profits as financial malpractice.

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Aug 09

How the financial structure of American men’s football limits it- Marketplace

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Some 40 or 50 kids, ages 7 to 19, work on their passing skills on a soccer field northeast of Austin, Texas. The practice is run by Upper Ninety, a youth development program. But what sets Upper Ninety apart from other football programs is that it’s free.

This is a good thing for Samuel Osezua, 18, who left Nigeria about a year ago.

“Programs like this have helped me get set up faster because because it’s free, it’s appealing to everyone,” he said.

In the United States, elite competitive club football tends to be expensive. Dues from a team affiliated with the official United States football organization – as opposed to a recreational league or school team – can cost $ 5,000 per year. Not to mention the travel costs. These could also support a family’s thousands of dollars over the course of a season.

Upper Ninety founder Kaitlin Swarts grew up in Austin and played club football most of her life. She saw football getting more and more expensive and decided to do something about it.

“I’m really lucky to be born into a family that could afford it, but that’s just not the reality for most people,” Swarts said.

When the English Premier League kicks off this weekend, all eyes (at least many American eyes) will be on a 20-year-old phenomenon from Hershey, Pa. Named Christian Pulisic. He’s a little curious as there are only a handful of American men who play football in the elite world leagues.

The fact that football is often unaffordable tends to limit the potential of the US men’s team soccer. Youth clubs do not provide enough players for the national team, which was not even good enough to qualify for the World Cup in 2018. In the United States, the financial burden of developing young players from elite rests with parents.

“In Europe, there is an incentive for clubs to develop these players because once they grow up they can either contribute to the senior team or be sold for millions of dollars to a rival club,” said Tom Farrey, executive director of Sports. & Society Program at the Aspen Institute.

A leading German league team sent young American Pulisic to Chelsea late last year. Chelsea paid $ 73million to sign Pulisic.

If Pulisic were to come from Europe, the youth club he played in before turning pro in Germany would get a big 10% slice of that $ 73 million. This is called a solidarity payment and is not part of the process in the United States.

Tom Cove, president and CEO of the Sports & Fitness Industry Association, said for some American clubs the solidarity payment could mean a lot.

“With that kind of money you can sort of meet a lot of needs, really focusing on the elite and developing that better player, but also coming back into the community,” he said. “It’s a significant amount of money to reach a local club.”

The governing body here, US Soccer, has chosen to opt out of the system. One reason for this: American professional players fear that when a big club like Chelsea have to pay this solidarity tax, they will get less money.

Ultimately, that means PA Classics – Pulisic’s childhood development club – won’t receive a dime from his transfer. Steve Klein, director of PA Classics, declined an interview.

But what about the US Women, who just won another World Cup? Is the financial structure of American football also holding back women? Farrey at the Aspen Institute said not really.

“In a country of 330 million people, we have so many more girls playing football,” he said. “Our ability to put together a roster of 20 or 24 players is going to be pretty good, much easier than in a lot of other countries.”

Back in northeast Austin, Swarts of Upper Ninety isn’t too concerned about elite youth clubs getting money for their star players. His organization is not a club team and would not be eligible for these payments anyway. Its purpose is totally different.

“Football should be a community thing, and you shouldn’t need all the time and money to enjoy it,” she said.

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