February Global Regulatory Brief: Risk, capital and financial stability
ESRB publishes report on a monitoring framework for systemic liquidity risks in financial system
The European Systemic Risk Board (ESRB) has published a comprehensive report on liquidity risk that provides a detailed framework for monitoring systemic liquidity risks in the financial system, focusing on both funding liquidity and market liquidity.
In more detail: The report emphasizes the importance of understanding and measuring risks to systemic liquidity by paying attention to financial system entities beyond banks and key asset classes beyond sovereign bonds. It outlines the following key components:
Conceptual Considerations: The report defines systemic liquidity risk and its essential dimensions, including funding liquidity risk and market liquidity risk. It also discusses the interactions between these dimensions and the potential for contagion and amplification of liquidity stress.
Monitoring Framework: The framework identifies key entities and markets that should be systematically monitored for emerging liquidity risks. It presents indicators for funding liquidity risk, market liquidity risk, and contagion and amplification risks. The framework includes composite indicators that capture the main dimensions of systemic liquidity risks.
Country Applications: The report provides examples of how the framework can be applied to specific countries, such as the Netherlands and Finland. These applications highlight the importance of considering country-specific features and financial structures when assessing systemic liquidity risks.
Case Studies: The report includes case studies that illustrate the application of the framework to real-world scenarios, such as the COVID-19 pandemic and the liquidity stress faced by GBP funds following liability-driven investment strategies in September 2022.
Main lesson: The report underscores the need for a macroprudential approach to monitoring systemic liquidity, complementing ongoing micro-prudential initiatives to increase resilience at the level of individual entities, markets, and activities. It also highlights the importance of using a comprehensive set of indicators to capture the various dimensions of liquidity risk and the interactions between them.
Significance: The monitoring framework can be applied in all EU jurisdictions and enriched by adding further dimensions in the future. It can also inform the design of early warning indicators for systemic liquidity risk and the development of systemic liquidity stress tests.
APRA highlights the need for improved valuation and liquidity risk governance in superannuation
The Australian Prudential Regulation Authority (APRA) has released findings from its review of superannuation trustees' valuation governance and liquidity risk management practices.
Summary: Conducted in December 2023, the review covered 23 trustees managing 80% of APRA-regulated assets, totaling $2.7 trillion, with $500 billion in unlisted assets. While progress has been made since 2021, 12 trustees showed significant gaps in areas like board oversight, conflict management, revaluation processes, and liquidity planning.
In More Detail: APRA expects trustees to address deficiencies promptly and align with Prudential Standard SPS 530 Investment Governance (SPS 530), warning of further regulatory action if necessary. Key findings include:
SPS 530: A significant proportion of trustees still displayed material gaps in key areas, including the need for material improvements in either or both their valuation governance or liquidity risk management frameworks to meet the requirements of SPS 530.
Unlisted asset valuation governance: There was particular weakness across board oversight and conflict of interest management, revaluation frequency and triggers, valuation control, and fair value reporting.
Liquidity risk management: There was particular weakness in liquidity stress trigger frameworks, unlisted asset liquidity risks and liquidity action plans.
What this means for trustees: APRA has said that these findings are 'concerning and highlight the need to further lift practices across the industry'. APRA will engage directly with those trustees identified as having deficiencies and will expect them to formulate appropriate and timely remediation plans. APRA expects all trustees to review the findings, assess themselves against SPS 530, and, if needed, enhance their valuation governance and liquidity risk frameworks. APRA has noted that where necessary, it will take further action to enforce SPS 530 and related requirements.
FSB publish impact report on reforms to securitization markets
The Financial Stability Board (FSB) has published the final report on the impact of the G20 Financial Regulatory Reforms on Securitization, particularly the IOSCO minimum retention recommendations and the Basel revisions to prudential requirements.
In summary: The evaluation finds that these reforms, introduced in the aftermath of the 2008 global financial crisis, have contributed to the resilience of the securitization market without strong evidence of material negative side-effects on financing to the economy.
Complex structures that contributed to the GFC – including securitizations of subprime assets, collateralized debt obligations and re-securitizations – have declined significantly, while the securitization market is more transparent.
However, the market has not yet been tested through a full credit cycle to fully confirm the evidence on enhanced resilience, particularly in the case of collateralized loan obligations (CLOs) that have seen significant growth in recent years but have not yet experienced a prolonged downturn.
Non-bank growth: The reforms appear to have contributed to a redistribution of risk from banks to the non-bank financial intermediation (NBFI) sector, with banks shifting towards higher-rated tranches.
This redistribution of risk has been driven both by an increase in non-bank financing of the economy and by the growth of non-bank investors in securitizations.
Key regulatory issues: The report highlights key issues for national authorities and international bodies to consider:
The need to monitor risks in securitization markets in light of developments such as the growth of synthetic risk transfers and private credit in securitization structures;
The effectiveness of risk retention requirements for risk alignment in CLOs, given the fact that a large part of the global CLO market does not currently operate under such requirements and given the use of third-party risk financing for CLO structures; and
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Los Angeles Times
30 minutes ago
- Los Angeles Times
Gal Ben-Naim, Joshua Driskell, Jordi Pujol, and Mike Watson Share Insights on Wealth Management and Estate Planning
The Wealth Management & Estate Planning roundtable is produced by the LA Times Studios team in conjunction with Axos Securities, LLC; IDB Bank; Lagerlof, LLP; and Objective, Investment Banking & Valuation. Ongoing market developments across multiple sectors have helped to open up new private wealth management products and services to a broader array of people and families. This, along with a surge among high-net-worth families exploring ways to better manage their finances and making plans for their estates in today's economic environment, is an indicator of just how important the wealth management process has become. To take a closer look at the latest trends, best practices and concerns across the wealth management landscape, we turned to four of the region's leading experts on the topic, who graciously weighed in for a discussion and shared insights on the state of wealth management in 2025. Q: How would you describe the current investment environment in 2025 and what do you consider to be the best investment approach in general terms? Gal Ben-Naim, Head of Private Banking Group, California, IDB Bank: The first half of this year has really been about uncertainty and volatility, and it's causing a lot of investors, even the seasoned ones, to feel nervous. We expected some economic and market transitions with an incoming administration, but I think most investors have been surprised by the extent of what we've seen – including the worst day in the stock market since COVID. While tariffs are front and center, our broader economy is really a reflection of compounding factors – geopolitical uncertainty and conflict, inconsistent messaging on inflationary trends and a softening labor market. Our team at IDB believes that healthy portfolio diversification with a focus in alternative assets that don't solely rely on market activity. While this has been an unusually complicated environment, it's given us a chance to really understand the value of our approach in minimizing downside to our clients and continue to support mid- and long-term planning. Mike Watson, Head of Securities, Axos Securities, LLC: The 2025 investment environment is defined by persistent volatility, tighter monetary policy and rapid technological disruption. In this landscape, the best approach is a disciplined, diversified strategy with a strong focus on quality assets, risk management and long-term value creation. Flexibility and a global perspective are more important than ever. Jordi Pujol, Managing Director, Objective, Investment Banking & Valuation: It's more clear we've transitioned to a post-speculation cycle. With capital no longer as cheap, investors can no longer rely on rising multiples to justify weak underwriting. In 2025, the most resilient portfolios are focused, yield-conscious and grounded in fundamental cash flow. They are not driven purely by momentum or narrative, but rather by defensible moats and process-oriented scalability. Cash yield, margin of safety and strategic defensibility have replaced passive diversification as the cornerstones of disciplined investing. Private markets have notably shifted from 'growth at any price' to 'performance at the right price.' Investors are paying less for vision and more for repeatability of outcomes. Growth stories need to be backed up by real traction, recurring processes and sustainable/scalable growth. This environment demands real-time valuation discipline and quarterly stress testing of private holdings. Think forward when modeling but underwrite like the exit is tomorrow. Backward-looking assumptions and forward-looking hype no longer suffice. Q: What are the most critical strategies high-net-worth individuals should prioritize in today's economic environment? Joshua Driskell, Managing Partner, Lagerlof, LLP: High-net-worth individuals should prioritize flexibility, tax efficiency and multigenerational planning. With inflation, interest rate fluctuations and potential changes in tax law, building a nimble structure is essential. That includes diversifying asset classes, stress-testing estate plans under higher estate or capital gains tax regimes, and taking advantage of current exemptions before they sunset. Establishing irrevocable grantor trusts, family limited partnerships and charitable vehicles can preserve wealth while achieving strategic goals. Proactive wealth transfers, such as installment sales to defective trusts or GRATs, can lock in valuation discounts and freeze estate value. Most importantly, integrate estate and investment planning with family governance to promote cohesion and legacy continuity. Pujol: In today's environment, high-net-worth individuals should prioritize three things: ownership in assets they understand, tax-efficient structures informed by valuation foresight, and optionality through enhanced liquidity. Long-term capital growth is not about chasing trends or the cliched shiny objects but about staying positioned for the right opportunities. We're seeing a move away from over-diversified portfolios toward intentional ownership, where control, structure and timing drive outcomes. This means more alternatives, a mix of private and public holdings, and tax-minimizing structures. Ownership in assets you'd fight to keep, that's the new diversification. I also like the 'cockroach' approach, which is building portfolios that survive the panoply of circumstances the world is throwing at us by selecting traditional and non-traditional asset classes, making sure that correlation is low. I also think cash yields make liquidity an asset and not a drag on returns; it's strategic capital with a clear purpose of optionality. When opportunities arise, those with dry powder and a defined investment playbook are positioned to act quickly and decisively. The most successful families today follow a clear investment policy that outlines the investment discipline before emotions take over. In this environment, structure and readiness matter more than broad diversification. Ben-Naim: It's not as simple as building your wealth across stocks, bonds and cash anymore. In the past seven to 10 years, we've helped many of our clients increase their alternative asset exposure – ranging from equity and debt investment in commercial real estate, direct lending and hedge funds – from 5% to about 20%, with very positive results due to the less volatile and emotions-driven public market. Our current cycle has also highlighted the importance of hedging strategies. Investors should work closely with their advisors to identify safeguards on the equity market as well as private market entry points that will create protections on the downside, while maintaining participation on the upside. We've seen very positive outcomes as a result of these strategies. Many of our clients who have been allocating funds to private markets have been largely shielded from the recent volatility. Now, they are even taking steps to allocate more funds into these verticals. Q: How should investors rebalance their portfolios in response to shifting interest rates and market volatility? Watson: In today's dynamic environment, rebalancing decisions should be made with a clear understanding of how shifting interest rates and market volatility affect different asset classes. Rather than attempting to time the market or make reactive moves, investors should work closely with a qualified investment advisor who can assess their overall investment time horizon, risk profile and long-term goals. An advisor can provide guidance on when and how to adjust asset allocations, evaluate the impact of interest rate changes on fixed income and equity risk and returns, and implement a disciplined, tax-efficient rebalancing approach. With full visibility into an investor's financial profile, an advisor is able to provide holistic guidance. Professional oversight ensures that adjustments are strategic, not emotional, and aligned with broader financial objectives. Q: What planning opportunities exist when a trust changes from a grantor trust to a non-grantor trust? Driskell: When a trust converts from grantor to non-grantor status – often due to a death or other triggering event – it opens both risks and planning opportunities. Income tax liability shifts from the grantor to the trust itself or its beneficiaries. Advisors should evaluate whether the trust will accumulate or distribute income to manage compressed trust tax brackets. Capital gain planning becomes especially important. Trustees may consider investing in tax-efficient assets or making distributions to lower-bracket beneficiaries. Basis tracking must be updated, especially for assets with low carryover basis. In some cases, trust modification, decanting or converting to an incomplete non-grantor (ING) trust may optimize results. Coordinating with CPAs and estate counsel at the transition point is essential for tax and fiduciary compliance. Q: What are some of the biggest mistakes you see individuals make when managing their wealth, and how can they avoid them? Watson: There are a number of common mistakes. One is the lack of having a long-term plan and clear strategy. The solution for this is to develop a comprehensive financial plan, revisited regularly, aligned with your life goals, risk tolerance and time horizon. Another mistake we see is emotional decision-making. This can be avoided by staying disciplined, relying on objective advice and using a rules-based rebalancing strategy to manage volatility. Neglecting tax efficiency is a mistake that can be avoided by optimizing asset location, using tax-deferred accounts, harvesting losses strategically and engaging in proactive estate planning. Another misstep is over-concentration in a single asset or sector. Investors should diversify across asset classes, industries and geographies to reduce risk. Another mistake to avoid is failing to plan for liquidity needs. It is important to maintain a liquidity buffer for emergencies, major purchases or investment opportunities. Finally, another of the biggest mistakes we see is when people ignore succession and estate planning. It is always good to engage advisors early to create trusts, wills and governance structures that reflect your values and intentions. Avoiding these pitfalls requires proactive planning, trusted advice and the discipline to think generationally, not just transactionally. Q: How do you advise clients to balance risk and reward when pursuing long-term growth? Ben-Naim: In my experience, more than 80% of portfolio performance comes from asset allocation. The other 20% comes from the strategic selection of managers. These should be top-tier professionals and sponsors who have long-demonstrated success. Your advisor should not only provide guidance on the makeup of your portfolio but also serve as a reliable conduit, connecting you to well-vetted sponsors – hedge funds, private equity firms and other alternative investment opportunities that can provide buffers in downcycles, participation in bull markets and demonstrate confident returns in five-to-seven-year cycle. For us at IDB, this network of sponsors and managers is of critical importance. We've found that our clients respond incredibly well to our ongoing introductions to high-performance opportunities from both our broker-dealer partner IDB Capital, our joint venture IDB Lido Wealth and outside partners. Pujol: Don't chase high risk, high reward; engineer low risk, high conviction through long-term thinking. At Objective, we believe true risk isn't just about market volatility, it's often about overpaying for uncertain outcomes or fads. Long-term growth starts with disciplined entry and should correlate with what you want to own five years down the line. Valuation at entry isn't just for compliance, it's the defense and roadmap for future position adjustments. We often guide clients to model three – cases, low, base and high – because if you only plan for the base case, you've handicapped your understanding of potential outcomes. The best investors price in imperfection, protect capital on the downside and let time handle the compounding on positive trends. In private markets, we also help clients structure investments with asymmetric outcomes, where a 1× downside supports a 3× upside. That can include preference stacks, convertibility on notes and milestone upside through derivatives like warrants. We always model worst-case cash burn first; if it still makes sense at the bottom, everything else is upside. Valuation is your testing ground. Use it to see clearly and act with conviction. Q: What role does philanthropy play in wealth management today, especially among younger affluent clients? Watson: Philanthropy plays a significant role in wealth management today, especially among younger affluent clients who increasingly seek to align their wealth with their values. Tools like Donor-Advised Funds (DAFs), Trust Accounts and strategic charitable giving offer flexible and tax-efficient ways to support causes they care about. These options allow clients to create lasting impact while maintaining control over their giving strategy, making philanthropy a key part of their overall financial and legacy planning. Q: What are the latest trends in estate planning that individuals and families should be aware of? Driskell: Several emerging trends are reshaping estate planning. First, many families are accelerating wealth transfers ahead of the 2026 estate tax exemption sunset. Tools like SLATs, IDGTs and GRATs are increasingly popular for capturing today's favorable tax climate. Second, planners are focused on trust design that balances asset protection with beneficiary flexibility, including directed trusts and decanting statutes. Third, digital assets – from crypto to intellectual property – require new planning considerations. Finally, estate plans increasingly incorporate non-tax goals, such as family harmony, stewardship and values-based legacy planning. Tailored education and engagement for the next generation is also a growing priority to reduce conflict and enhance readiness for wealth transfer. Q: What estate planning tools are most effective for minimizing tax burdens across generations? Pujol: Standard structuring tools still work, but their true power lies in how and when they're used. For example, gifting pre-appreciated assets during downturns or before liquidity events allows wealth to grow outside the estate at a compressed tax cost. Planning with discount studies for minority positioning can allow you to apply discounts for lack of marketability and control, reducing the taxable value of gifted interests while preserving real economic value. Certain traditional trust structures, including those based on annuity techniques, remain effective planning tools. Their impact can be significantly enhanced by aligning transfers with existing tax benefits, such as Qualified Small Business Stock treatment. When minority interests are gifted at trough valuations and supported by appropriate discounts for lack of marketability and/or control, substantial equity can be shifted into tax-efficient vehicles at reduced reported values. Capture step-ups early may save IRS bills later. This clearly shows compliance valuation is not just part of the plan, it's a real economic multiplier. With early planning, millions in future value can be transferred before massive tax consequences. Driskell: Irrevocable trusts are a cornerstone of multigenerational tax planning. Grantor trusts, such as Intentionally Defective Grantor Trusts (IDGTs), allow parents to sell appreciating assets without triggering income tax, removing future growth from the estate. Spousal Lifetime Access Trusts (SLATs) offer access to income while locking in the current exemption amount. Generation-skipping trusts minimize estate tax exposure across multiple generations. Qualified Personal Residence Trusts (QPRTs) and Grantor Retained Annuity Trusts (GRATs) are useful for freezing asset values. Family Limited Partnerships (FLPs) and valuation discounts further enhance tax efficiency. Coordinating these strategies with lifetime gifts and charitable giving can significantly reduce long-term tax burdens. Q: In what ways should wealth managers prepare clients for potential ripple effects from trade restrictions between major economies? Watson: Wealth managers should prepare clients for potential ripple effects from trade restrictions by helping them assess and adjust their portfolios to mitigate risk. First, they should review global diversification to ensure clients are not overly exposed to any single economy, industry or region, especially those directly impacted by trade restrictions and geopolitical crises. This may involve shifting exposure from vulnerable sectors or countries to more resilient ones. They should also consider incorporating alternative assets that may offer protection in times of geopolitical instability, such as commodities or real assets. Additionally, wealth managers can guide clients on cash flow management and ensure liquidity needs are met, as trade restrictions could lead to economic slowdowns or disruptions in supply chains. Lastly, they should help clients stay informed and proactive, adjusting investment strategies in response to evolving trade dynamics and market conditions. Q: What unique considerations should business owners factor into their estate and succession plans? Pujol: Succession isn't a single event, it's a system that needs to be built, maintained and regularly tested. Business owners and family heads should structure continuity plans with updated valuations, clearly defined buy-sell mechanisms, and governance that depends less on future intentions or personalities and more on thoughtful planning. Uncertainty is one of the biggest threats to enterprise value. If business plans aren't baked into legal documents, the business is exposed to potential family disputes, tax inefficiencies and legal ambiguity. Transfers are also easier when numbers have been agreed to in advance. Plan as if you'll leave tomorrow and revisit that plan at least once a year. More families are treating succession planning like an annual checkup. During year-end valuation work, they run liquidation or 'liquidity fire-drill' scenarios to spot issues and test their transition plans. Some are also using structures to manage control and distributions effectively across family members more dynamically. Like outdated software, if a succession plan isn't reviewed and updated regularly, it's more likely to break when you need it most. Driskell: Business owners face unique risks and opportunities in estate planning. Key considerations include ensuring continuity of control, managing valuation and liquidity issues, and minimizing transfer tax liability. Proper use of buy-sell agreements, voting and non-voting share structures, and family-limited partnerships helps preserve operations while transferring economic value. Owners should explore gifting or selling interests to irrevocable trusts while leveraging valuation discounts. Planning for management succession is equally vital – aligning legal structure with leadership readiness. Owners often underestimate the need to separate governance from ownership. Coordinating business succession with estate liquidity planning (via insurance or redemption strategies) ensures family and business stability. Q: What defensive investment strategies are you recommending in light of the geopolitical instability and trade disputes? Ben-Naim: We consistently review our clients' allocations and advise on defensive strategies that can help ensure a buttoned-up portfolio. These strategies can range from diversifying asset classes to withstand major public market fluctuations, tax incentive investing and hedging. When considering geopolitical instability, our diversification philosophy is much the same. Now is an opportunity to really consider your geographic exposures and to look to consistently performing and emerging markets outside of the U.S. to realize opportunities. Of course, not all markets are winners and investing in a new region requires vetting, oftentimes with boots on the ground. But with careful research, you can make intelligent entry points. For example, despite the war, Israel proved to have a very strong public market in the past 18 months. Other markets, including India and Vietnam, are expected to perform with higher GDP growth compared to the U.S. and present an exciting outlook. Q: How do you see AI and automation impacting wealth management in the next 5-10 years? Pujol: AI is beginning to reshape wealth management, but it's not a replacement for advisors, it's another tool in the toolbox. Used well, it can accelerate diligence, surface outliers, stress test assumptions and generate models in seconds. But the truth is clients don't need more spreadsheets; they need clarity, context and judgment. All this comes from the human touch and experience. The advisors who will lead in the next decade are those who treat AI like an enhancement of their own skills, not like a replacement. At Objective, we use AI to flag inconsistencies, improve our communication and stress test our thinking. Then we bring in the human element to synthesize, challenge and advise. AI can compute outcomes, but it's useless without an experienced human interpreter. In the end, it's not about replacing insight, it's about removing noise so advisors can focus on the decisions that actually matter. AI enhances great advisors, but it will never make poor ones great. Watson: AI and automation are set to significantly impact wealth management in the next 5-10 years, likely accelerating the commoditization of basic advisory services. As technology advances, routine tasks such as portfolio rebalancing, tax optimization and risk assessment will become increasingly automated, making them more accessible and efficient at a lower cost. This will force traditional wealth advisors to rethink their value proposition, as many investment-related services will be handled by AI-driven platforms. To remain competitive, advisors will need to expand their offerings beyond just investments, focusing more on personalized financial planning, estate and tax strategies, and holistic wealth management. By integrating AI and automation into their practice, wealth managers can enhance their operational efficiency, but to truly differentiate themselves, they will need to provide high-touch, value-added services that help clients navigate complex financial decisions and life transitions. Q: How can advisors better engage younger generations in the wealth transfer conversation to avoid conflict and ensure legacy continuity? Pujol: If you want heirs to act like stewards instead of recipients, don't just write a will, start a conversation. The earlier families involve younger generations, the more likely wealth becomes a tool for continuity. We've seen families use business valuations, portfolio reviews and cash flow summaries to bring clarity to the 'why' behind the wealth and to tell the full story to their heirs. These tools take emotion out of the equation and turn complex financial decisions into documented, teachable moments. A detailed valuation can start the conversation a trust document cannot. One strategy that works well is forming a Family Investment Committee before the age of 18. You can even give heirs mock capital, or even small portfolios, and let them pitch investments quarterly, benchmarking their results against the real portfolio. Valuation reports and shared KPIs can turn wealth into something they understand and feel responsible for. The more context you provide while living, the fewer misunderstandings arise after you're gone. Driskell: Engaging younger generations early promotes transparency, reduces conflict and builds legacy alignment. Advisors should encourage family meetings to share the purpose behind planning decisions, including family values and long-term goals. Incorporating educational components – like basic financial literacy, investment principles and trust mechanics – empowers beneficiaries and fosters stewardship. Structuring trusts to provide phased access, beneficiary-directed investment input or co-trustee roles can build confidence and responsibility. Additionally, encouraging philanthropy and impact investing can bridge generational gaps. Above all, advisors must create space for open dialogue, ensuring younger family members feel heard and respected. This relational foundation is often more critical than the legal structures themselves. Watson: Advisors can better engage younger generations in the wealth transfer conversation by fostering early, inclusive and values-driven dialogue within families. Rather than treating wealth as a taboo or distant topic, advisors should encourage clients to involve heirs in strategic conversations about family values, financial goals and the purpose behind the wealth. This helps build trust, reduce the risk of conflict and ensures that the next generation feels informed and empowered rather than surprised or unprepared. Advisors can also offer educational resources and facilitate family meetings to bridge knowledge gaps and align expectations. By acting as neutral facilitators and emphasizing transparency, advisors play a key role in preserving both family harmony and the long-term continuity of the legacy. Q: For those concerned that their heirs might abuse their inheritance, what trust strategies are there? Driskell: Discretionary trusts with independent trustees remain a powerful tool to prevent misuse of inherited wealth. These trusts allow the trustee to make distributions based on the beneficiary's needs rather than mandatory rights. Incentive provisions can be included to reward education, employment or sobriety. Spendthrift clauses protect trust assets from creditors and poor financial decisions. Advisors may recommend staggered distributions or milestone triggers to gradually release funds. For families with ongoing concerns, directed trusts or trust protectors can provide oversight and flexibility. Ultimately, thoughtful drafting and selecting a fiduciary who understands family dynamics are key to protecting both wealth and relationships. Q: As a trusted advisor, what advice can you share for longer-term portfolio asset allocation? Ben-Naim: Now more than ever, high-net-worth investors have access to more asset classes, opportunities and strategies. While this is exciting, it's important to understand the implications of your holdings and to allocate your portfolio in a way that will withstand external fluctuations. It can be nearly impossible to understand the implications of your full portfolio holdings and how they may fluctuate throughout a market cycle or in response to a macroeconomic, geopolitical or industry event. I strongly recommend working with an advisor with a fiduciary responsible to you and your best interests, as well as intimate working knowledge of your profile, family, businesses and interests in order to create the right plan. The right financial advisor will not only know and understand you and your allocations but will also prioritize consultancy and communication to ensure holistic success.
Business Upturn
6 hours ago
- Business Upturn
PFMCrypto Announces Free and Sustainable Cloud Mining Technology for Bitcoin Users
Los Angeles, California, June 08, 2025 (GLOBE NEWSWIRE) — PFMCrypto, the cloud mining service operated by UK-registered and FCA-regulated Precision Financial Management Ltd (Company No. 11719896), has officially launched a sustainable mining platform that combines user-friendly cloud contracts with renewable energy. The company's service allows users to participate in Bitcoin mining without owning hardware, while its operations are powered by solar and wind energy—minimizing environmental impact and reducing operational costs. As technology continues to evolve, the global shift toward renewable energy is accelerating. PFMCrypto powers its cloud mining operations using renewable energy sources such as solar and wind power. This significantly reduces mining costs while returning excess electricity to the grid. This approach not only conserves energy but also delivers sustainable returns to investors—highlighting the enormous potential of green-powered mining. In the fast-paced world of cryptocurrencies, simplicity and profitability are key. For beginners seeking a reliable source of income, PFMCrypto's cloud mining service is an especially appealing option. What Is PFMCrypto Cloud Mining? PFMCrypto cloud mining is a remote cryptocurrency mining solution that supports a range of digital assets, including Bitcoin. Users leverage the mining company's computational power to earn profits without investing in hardware or handling technical maintenance. Through access to high-powered mining farms, PFMCrypto enables users to benefit from ongoing crypto mining rewards as complex blockchain problems are solved in real time. Key Benefits of PFMCrypto Cloud Mining Easy Investment: Users can invest effortlessly without complicated procedures. No Hardware Required: There's no need to buy expensive mining equipment, lowering the barrier to entry. No Technical Expertise Needed: Ideal for beginners, with minimal technical requirements. Zero Operational Costs: No electricity, maintenance, or other overhead expenses for the user. Flexible and Reliable: Users can adjust their investment strategy according to their individual goals. Instant Start: interested users can quickly start mining without cumbersome preparations. Why Choose PFMCrypto? PFMCrypto is committed to clean and efficient energy solutions. Founded in 2018 in the UK, the platform has grown to serve more than 9.2 million users globally. Since its inception, the company has focused exclusively on Bitcoin mining. Today, PFMCrypto operates more than 20 large-scale mining farms and reportedly accounts for approximately 6.2% of the global mining hash rate. Platform Advantages Cutting-Edge Equipment: PFMCrypto uses top-tier mining hardware from manufacturers like Bitmain, Antminer, and other energy-efficient rigs to ensure stable and high-yield mining performance. Legal and Globally Trusted: Operated by FCA-regulated Precision Financial Management (PFM) Ltd , PFMCrypto complies with all UK financial regulations and serves a global user base of over 9.2 million real users. User-Friendly Interface: Designed with intuitive navigation so even beginners can easily manage their accounts. Multi-Crypto Support: Supports settlement in various popular cryptocurrencies including USDT-TRC20, BTC, ETH, LTC, USDC, BNB, USDT-ERC20, BCH, DOGE, SOL (Solana), XRP, and more. Stable Daily Returns: Mining contracts yield daily returns, with principal automatically refunded upon contract expiration to protect investment security. Expert Team: PFMCrypto boasts a professional IT team and 24/7 live customer support to assist users at all times. Affiliate Program: Invite friends and earn referral bonuses of up to $18,999. How to Join PFMCrypto Sign up today and receive a $10 welcome bonus (plus $0.60 daily check-in rewards). a Contract: After registering, select a mining contract that suits your goals and budget. PFMCrypto offers a range of plans to fit both new and seasoned miners. Earning: Once your mining contract is activated, the platform's advanced technology handles the rest—ensuring your operation runs efficiently and maximizes your potential profits. Sample Investment Plans Trial Contract: Investment: $100 | Net Profit: $106.6 Classic Contract: Investment: $500 | Net Profit: $530.75 Classic Contract: Investment: $3,000 | Net Profit: $3,888 Prepaid Contract: Investment: $5,000 | Net Profit: $7,370 Advanced Contract: Investment: $10,000 | Net Profit: $17,240 As your mining activity progresses, your account will begin to accumulate earnings. You can track performance through your dashboard and withdraw profits whenever you're ready. In Summary PFMCrypto is a legally registered UK company authorized and regulated by the UK Financial Conduct Authority (FCA), adhering strictly to local regulations. The platform offers a seamless, low-barrier entry into crypto mining for both beginners and experienced investors, aiming to help users maximize their earnings with minimal effort. Start your hassle-free cloud mining journey with PFMCrypto and boost your income today! New users can get a $10 bonus. For more information, visit the official PFMCrypto website: Or download the mobile app from Google Play and the Apple App Store . Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Yahoo
8 hours ago
- Yahoo
Artists who got almost $1,500 a month under a basic income pilot say their work improved
Ireland's basic income pilot program for the arts ends in August. For three years, 2,000 artists and creative arts workers received about $370 a week. Recipients said the stipend overall improved their daily lives. For about 2,000 artists and creative arts workers in Ireland, a weekly stipend provided through a basic income program has been a lifeline for years. Now, it's almost over. The pilot program began in 2022 under Catherine Martin, Ireland's former minister for tourism and culture. Martin allocated about $28 million to the arts sector following the COVID-19 pandemic. Participants were randomly chosen and given an unconditional stipend of €325, or about $370, weekly for three years. During that time, participants met periodically via Zoom to discuss how the additional income had affected their livelihoods, careers, and ability to meet basic needs. The final session was held this month before the program's conclusion in August. Artists and cultural workers who attended the session grappled with what their lives would look like after August, but they hoped government officials would extend the program. "We need no further pilots. People need a UBI now to face and deal with the many social, economic, and ecological crises of our world," Reinhard Huss, the organizer of UBI Lab Leeds, which sponsored the event alongside Basic Income Ireland, UBI Lab Arts, and UBI Lab Network, told Business Insider. New developments in AI are reshaping the job market, replacing some entry-level positions. Tech industry leaders like Elon Musk and OpenAI CEO Sam Altman have said implementing a universal basic income will be essential in the near future when AI supplants jobs in most industries. A universal basic income offers an entire population recurring, unconditional payments regardless of an individual's socioeconomic status. Ireland's program, like many others in the United States, is a guaranteed basic income, which targets certain segments of the population for a set period of time. Jenny Dagg, a sociologist lecturing at Ireland's Maynooth University, authored a new report that provides insights into participants' reactions to the program. She gathered data from over 50 of the 2,000 recipients. Although the report outlined nearly a dozen key impacts reported by program recipients, Dagg highlighted five major takeaways during the Zoom session. Dagg said that recipients who received money from the program reported more stability and "significantly reduced" financial stress. It relieved their anxiety about fulfilling their basic needs. Participating in the pilot program also allowed artists to re-prioritize how they spend their time and what they choose to focus on. "The opportunity to focus more on their specific creative interests opened new possibilities and career trajectories," the report said. Artists said the added income allowed them to spend more time "researching, experimenting, taking risks, and failing," which has improved the quality of their work. Artists, the report said, also felt more confident in themselves and their work during the program. "Many recipients talk of feeling empowered, of being in control of the choices within their lives, and envisioning a viable career path longer-term," the report said. Recipients even reported better mental health, which led to improved sleep quality and lowered stress levels. With the end of the program fast approaching, recipients of the weekly payment are reckoning with what how their lives might change. "Across art forms, recipients report concerns about financial stability and sustaining the momentum of their careers when, or if, the basic income scheme ends," Dagg's report said. This month, Basic Income Ireland called on the government to immediately implement a universal and unconditional basic income for the country. A spokesperson for the UBI Lab Network said the pilot program's success shows that basic income is a viable option. The campaign group shared a proposal for introducing a universal basic income to Ireland. "As the pilot shows, basic income works and people need a UBI now to face and deal with the many social, economic, and ecological crises of our world. The Network will continue to help demonstrate basic income within communities and show how it is a sustainable policy," the statement said. Patrick O'Donovan, Ireland's minister for arts and culture, said he would evaluate the data collected throughout the pilot program and create proposals for the government regarding the next steps. "I am heartened by the responses of the Basic Income recipients in this paper," O'Donovan said in the May report. "This research will add to the evaluation being conducted by my department, which to date clearly shows that the Basic Income Pilot has been an effective support for the artists in receipt of it." Read the original article on Business Insider
