Apr 20, 2016|
Full Show 4-20-16 by The Financial Exchange
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
This is the financial exchange with the Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about an economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chunks. John Moody and once again with the vacationing trucks ought to. And it would have these days we have for you we're covering these stories in all regions headline for the story it's gonna be something you momentarily. Did the legality cheat its own client out of millions of dollars is a story that we're getting from our credible. News source that Bloomberg at a New York City. And they make it compelling argument in this story that. Fidelity. She did its own customer out of millions of dollars and you have that others thoughts on it that we're gonna get into that story. Yet you do it with a company like fidelity there so big. That they had so many inherent conflicts as well yes but this and and I wanna give a benefit the doubt this could be one of those conflicts where. The purse on the left in the with the person on the right was doing but I don't think that's going to be the case and we saved us both being fidelity customers correct let's at a for the record itself and is this a tough story for us to effort for us to cover. Odd breaking news we got existing home sales data. And comes in it was the number five point 33 million. Five point 33 million annual units that's the level of existing homes sales in the existing home number is far more important than the new home number it's a large number involves a lot. I think is a better future indicator it's like 85% of the industry rate. New home construction is is nice that it has great multiplier effect but existing home sales is the best indicator of the health. I've always correlated existing home sales with future construction and my logic news you have to absorb. The inventory. Before you start putting shovels in the ground and polling permits and building new homes yeah I mean that's it's that it's a great leading economic indicator and it's right now winning in the right direction. Up five point 1%. Last month. And another trend is the prices as we all know are doing hired nationally Euro per year it's up five point 7%. But here's the number that'll make you feel little jealous. The average sales price meaning half were cheaper powerful more expensive. Is 222000. Dollars well you look slightly different planet and known and unknown picabo really you think about doing. You know you go to Hartford Connecticut right knee in in many parts to connect you get outside a Fairfield County. And real estate prices are much less expensive yeah threw in in Connecticut. You go up to New Hampshire in you get off the leak rate you get out of Portsmouth the natural. Pride prices are much less expensive legal to southern Maine. You go to Rhode Island even Massachusetts say west of Worcester eagle and a lot to the ouster market yeah right we'll hurts and names Bristol bridge that area much less expensive in terms of the housing. We do get some what. Delusional. That what we are delusional well it's like affirmative and the the Boston market where we'd have to be broadcasting from is very much like in New York. Reality average Condo in New York city's two million bucks I mean it's crazy and it's it's not just Boston. It's Greater Boston yeah it's the suburbs the northern suburbs the South Shore west of Boston that the time that these this is of a different reality yeah. Vast its retail group is the parent company of Eastern Mountain Sports and Bob's stores. They just announced John where they're closing stores the stores dead eastern mountain storage. That are gonna close or in Foxborough Massachusetts Warwick, Rhode Island and West Hartford, Connecticut. The Bob's location that's scheduled to close is in South Portland mean. So it that just breaking. And pushed him upset to hear eastern mountainous quality retreat Taylor it was got really high quality stuff there. And you know we're seeing one of these sports apparel retailers after another. Drop out or be bought out the data about retail in general retail generals consolidating it and they cite again the online competition is one of the reasons for Intel big story out of Intel a pact affecting. I think around 2000 New England workers. Intel reported last night very disappointing earnings more importantly they announced John that they are laying off 121000 workers. At 121000 people will be out of work and what really cup Mario I hear Berry is that's 121000 within the next year. This is in five years from now in overtime this is this is pretty darn close to a median. 121000 people will be out of work and other tech company moving really from. More for its legacy business to go once again to close out this is the transition happening technologies happening with IBM with Intel. Intel's for ray and the mobile has been a loser they've been David really struggling to get market share. And what they're trying to do it they've they've been losing it trying to get market share in wireless chips which is less expensive than their legacy business. They're what they're saying though this is part of a plan to alternately grow what they wanna do is grow by selling chips for servers and other gear. Related to cloud computing is everybody though doing it I guess they when I read that. Right I'm sane. Every time a tech company has a bad quarter they say we're gonna start selling to the clout of like how much room is there in that Kyle well they're they're in the cloud in their finding that there's to me and for that and multiple companies including IBM are having a lot of success with it and they said Intel actually sit the savings they're gonna get from the cutbacks here. Will allow them to move into growth and actually invest in higher in this new approach so. We'll see if it works Intel shares up ever so slightly to. Which is surprising yeah it is it is well it's because they know it means that Wall Street nukes is already baked it wouldn't that is I would. And that's how I interpreted what we're seeing this one time after another so apparently there was a suspicion that things would be bad. And other guidance wasn't particularly good the amid the figure OK now this is gone we can now buy the stock. The bad news as a Johnson & Johnson is in New England Patriots. A of corporate America they just win all the talk. Yeah they're huge obviously they beat expectations and boost guidance change they actually added to die and do it per share guidance. They're saying this is very positive news pharmaceutical business is strong medical devices businesses. Doing better than expected so it's come to see a big blue chip company that's diversified giving positive guidance and a decent dividend on that I'm looking at the yield on that that's two point 72% tax qualified or remind everybody. When I say tax qualified I mean. You'll pay 15% capital gains tax on that Ari you only pay 15% tax on that dividend which is pretty darn good. I'd suggest one thing I've been a cute you know I've been a huge fan as you are dividend paying stocks. I wonder if this team might be extended just a little bit start looking at the price earnings ratios of these these very nice safe dividend players. I'm no ability uneasy thinking that. Everybody's coming in on this now yup and it feels a little frothy and some of the stuff like bar for safety and his uncle from the roof. It's supposed to go through the are you complaining that your stock prices went and I. Nervous from the things that I owned by Bob for protection. Becomes too commonly owned them yes do you get the same feeling. Well I do but it is you know what I do is I look I I don't count it as a game I look at it. And I say OK that's trading for forty dollars but it's really 35 dollars stock I'm OK with that other side. And and that's you did you could say that about numerous dividend paying stocks. Hey I wanna save a lot of time for this next interview in up next we're gonna be joined by Neil Weinberg from Bloomberg. He wrote the article did fidelity cheat its own client out of millions. Of dollars that's our next story. On the financial exchange from the insurer match dot com studios. Candidates watch the polls. We need to watch the markets find out how one can impact the other throughout all of election twelve and sixteen from right here hits the financial exchange on the financial exchange. Radio network. Have you ever thought about owning a firearm Titus is very Armstrong and if you have you should call Brian Dalton from New England firearms academy he offers the basic firearm safety class required to obtain a Massachusetts license as well as the multistate firearms permit that is valid in 31 states the cat and he specializes in personal safety home defense and a variety of defensive firearm classes to meet your needs located right above four seasons guns in Woburn mass call 7817906462. Or register today at any firearms dot com. 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Member FDIC equal housing lender zero point 20% annual percentage yield earned on portion of daily balance greater than 50000 dollars those who do not qualify presume we're awards Roland zero point 10% annual percentage yield on savings balance member FDIC. Everybody bury our strong here and I'm joined today by Jed tool who's a senior vice president leader bank. JD is the inventor of this innovative financial product called he rent and this is a programmer product that you developed it's primarily used. By landlords small somebody you might owned by ten maybe even twenty properties. Is using this as an electronic mechanism. Of collecting rent as opposed to waiting for checks to arrive in the mail. Exactly buried so we saw that our customers coming and being specially the landlord customers coming in with big piles. And we said in his teenager must be an easier way to do that we develops you aren't. It's www. 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Learn how you can collect your rent electronically is opposed to waiting for paper check in the mail. 877. 6917900. Liter bank dot com or call them told free. 8776917900. Securities are securities America income member in SIPC advisory services offered securities America advisors. Are represented Armstrong advisory group in the securities America companies that we. The latest financial trends team we'll play speaks of financial exchange we Barry Armstrong and chuck is not a on the financial exchange radio network. The headline reads did fidelity she did so client out of millions of dollars the reporter on this story is Neil Weinberg. From Bloomberg he joins us today on the financial exchange hi Neil how are you. Are well thank you you know John and I ate my co host of both read this article. And might take away from it is. Fidelity. Has a lot of explaining to do. Well they probably do I think include. But some detailed description of this story is that fidelity has gone to require denounced for permission to. So called. Lived out his shares and he's had knows so under a different pretext. Fidelity left them out anyway and anyway it's quite a bit that looks a little laden. Featured as let's go back to the beginning if you would in shared the story with us about the George family. And what they were trying to accomplish and what how they ended up in litigation with Fidelity Investments. Sure essentially this would say Chinese company and has secured. Listeners are probably familiar a lot of these companies were troubled that this was certainly their troubled company and hoping that the investor new. An investor who was quite wealthy he it is from a family that imports Dotel wanted. And a number of reliant. He was quite aggressive investor and decided that he was going to try to game. Control of the rest of the Chinese company. While he was trying to build it taken there were a lot of other investors who bought the accompanied. Its stock price would go down and so the ability to. I saw the opportunity to lend out these shares in other words you don't expect from someone who owns the minute you give them to someone who wants to. Bet that the stock will go down peninsula called securities lending. And to these fidelity and other brokers make a lot of money doing that didn't. So essentially they went to this large investor and so it can we land ownership is that he's that he was not interest it. And you that he was offered money. About 7% interest while yeah yeah. Yeah and he go you already invested forty million dollars correct. Correct so it was a big chunk of change that was on the line here and after he's you know we've been anticipating I don't want to let that delicious. He says that it was because he didn't want to do that to arm of the people who were trying to pushed out of the earlier the stock. And so instead ability to is that it has the authority. Under the big cloud of another contract. So that it wasn't able to let you know pictures of what type of brokerage account called margin account. And so it was basically. Good. Cook has complained to the crux of it is it's legal argument. It is fidelity did not have the right time to do this and it went it did little pleasures there's without. Basically. Who attended the company toward a bankruptcy. Fidelity for its part would argue that that will Adobe has argued that it was concerned. That would that and so investors may have been involved in Vietnam. Illegal activity it is it is it is not. Under federal law at liberty to talk about it but according to court filings that it did expressed those concerns that there's a lot of finger pointing going out. What got my attention users this guy and it's unusual situation it is the one sales one guy who's got forty million dollars into this Chinese company. He's gonna. It increases stake. He put in a body order for a few thousand shares in hit by electronically is what you reported and it said executed trade. Then apparently would happen as he tried to buy some more shares if the question I have here Neal is. If you or I were to buy that kind of investment. And poured in electronic order of that size is likely that that by the second quarter when I tried to do this on line. That it would reject it because there's some default program that says hey this is this is not coach thinly traded. They may give the defense that this is a perfectly legitimate thing in denying this that it it was in fact an unusual transaction. Well he did the final twelve minutes of filings with the Securities and Exchange Commission to essentially put the market's climb. But notice that he was trying to gain control of the company so under the circumstances I think. It's not it's not retribution and literally had usual road towards that a large investor would make that sort of declaration and haven't made large purchases. Were really does seem to be odd here. Is the fact that. Essentially when he was when he was caught on. And when he got in TouchWiz that's. These so called fidelity family office with a group that handles wealthy individual investors. They according to him had no idea what was going on and we talk about the fact that. This may sort of offer a peek into what goes on at a large financial institutions namely. You may have a group that is charged with the catering to wealthy investors. And they may try to do that to the very best of their ability to. While there may be another part of a large financial institution that. Makes its money from lending out stock can they might not have the same obligations are not see themselves as having the same obligated to the client. As another group and so those are the kind of issues that we pointed out investors to face when they're making me sort of large purchases. Neil this is not the type of publicity that Fidelity Investments watts why wouldn't they just settle with something like this because. This you know they're trying to build up their family office business for this is a black guy for the fidelity family office. Well certainly it is and I think that as we say in the story fidelity believes or and it has stated publicly for you know the purposes of our story that it believes that. These claims by a deal large investor utterly groundless without merit and so it would. I believe make the case that it is just not settling because it thinks it did nothing wrong. Well you say that the Ben David Whitlock who's a senior fidelity compliance official sought trouble ahead when he learned. Two days after the fact that the firm had cut Deutsche off. It in in this is a quote in your article it won't surprise me if this sends up a nice big legal mess involving them his advisor the company. The SEC and the firm for the next few years I mean they knew this 34 years ago. I agree there's a lot of explaining that stability has to do and one of the things that made this story very interest thing was the fact that internal. Fidelity Mel were entered into court. Meaning they were available for roster review at that such we were offered. A look inside the large financial institution and the sort of confidence in the sort of being velvet people send to one another including the one you just quoted from. And I would agree with you that that was certainly gonna raise a lot of questions among readers. And listeners to as to what fidelity was up to here. You know what 11 thing I take from this is there's a lesson here. In that is when you need Goldman Sachs you might not want to go to the seven dollar and 95 cent discount broker. That might be that might be one less of an implicit terrific and others. That it either because someone make a few a any. They promised or assert that they will do something before you have a large financial institution or any large company for that matter. Doesn't mean that everyone there is again the same to him you know. And it's that that's a by brought evil we're talking about yours sounds like there are people who didn't know what was going on you to the large company were multiple things are going on. I'm just floored by the fact this guy could do tens of millions of dollars of buying Chinese stocks. All online on his computer his vacation home in just about. Well and it's the and I guess I guess the UB lessened there if that were very much an electronic it is should I suppose you know. Punching the hero of few extra times under iPad doesn't really ticked a lot of effort in the NH. Neil thank you very much I posted this article on my FaceBook page is getting a lot of hits so thank you for writing it and thank you for joining us a great job thank you you know you're making fun of the guy for trading on his iPad. But this winter I was on a fishing boat. In the Caribbean with a buddy in line. And he was trading tens of millions of dollars of stock on news poll. While driving the vote while our pity he's driving the fishing is hedge fund guy. Yeah and and he was making big time trades while while we were fishing and so it is done well eight and and and you shouldn't we knew we would you go to financial institution does he understand the risk of doing. That he could be hacked. He's looking guys and doesn't care he's ability to understand this consequences to that something this dude here it is vacation woman named to New York on this iPad. He's understand that mergers and acquisitions and are done at a very high cost yes that is that is Goldman Sachs may be. They can be trusted to execute these kind of things without guy well there now I would I would argue that point because number herbal Lloyd Blankfein testimony in 2009. Where he said he admitted acknowledged in front of congress. That they would trade both sides they would trade against your clients that I mean Goldman Sachs Goldman Sachs. Acknowledges doing this fidelity is a retail company. Fidelity needs the trust of its customers I gotta tell you. As a customer of fidelity I hear a story like this and gives me second doubts and I. The gate this is not good good story for fidelity investments in my opinion I agree and we're both customers to. But it fairness Bernal Goldman Sachs and a duo is firfer now happen. But for now Goldman Sachs is doing God's work according to ride at the right. Guy here's idea attacks questioner trivia question for you. Where is the 20/20. Two fifa World Cup being held thief of course is soccer where is that event being held in the year. 20/20 two you know the answer. Text us at 680 succeeding where broadcasting from insurer match dot com city. Making your Smartphone even smarter. Download no mobile lab by surging financial exchange shelf in nineteen Jordan who who played stores. This is the financial extremes radio network. You stayed in asset protection claiming can be overwhelming. 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To learn more about consumer rewards program that's 8776917908776917900. Member FDIC equal housing lender zero point 20% annual percentage yield earned on portion of daily balance greater than 50000 dollars those who do not qualify presume rewards -- zero point 10% annual percentage human savings balance member FDIC. It's Barry Lynn chuck in the financial exchange on the financial exchange radio network. Qatar is the correct answer we after the question where this is reporting 22. Fifa World Cup being held the correct answer is Qatar. Marking the first time in major sporting event such as World Cup or the Olympics will be held in the middle. Eastern country and my gut that he some Soccer City gets coffee if from. Coca call somebody text union asking us about Coca-Cola. Shares are down a couple percent and Stan yeah I guess he earned an adjusted 45 cents per share. A penny above the estimates. And even revenue was slightly above forecasts but you know Warren Buffett who's the biggest owner of Coke in the world. Has said if you really wanna see how Coke is doing the one number the totally tells the truth is case volume domestic case volume and worldwide case for him. That was only up 2% which was with a below analysts' forecasts though. Again cokes have been rising lately it's one of those classic defensive. Stocks with a nice dividend and 2% may not be that bad given the no population growth. Don't let these medals the stocks up from the low forties to mid forties chance to move at a profit taking in the in the news wasn't great. United health. He topped expectations and their stock is being rewarded I was looking it UnitedHealth stock symbol for the UNH. But they are announcing John and we're gonna hear this from more and more insurance companies. Then they air leaving many states because of the Affordable Care Act. And that's the the big doc on the HCA's these insurance companies can't make any money yet UnitedHealth care is losing money. Will cut back from 34 states which they currently serve to him there were only a handful next year. What we're hearing from them is the economics we keep hearing from all the insure all adverse selection. Yet you're getting older people and you're getting sick people and you're getting sick older you're getting people that you and miss the change over time. I I do believe it five years from now they'll be less adverse selection. But what's happening John is today. People who needed new camp. And knew they needed new hip five years ago didn't have insurance are now getting you needed open heart surgery but he didn't have insurance five years ago you're getting. And it's killing these portraits. You know Joseph I believe I just said torture no Haifa hit it there I I'm sorry I am I apologize for making that -- and again it's easy to blame obamacare I'm not a fan of obamacare but the fact of the matter is that we ignored the whole matter of guaranteed coverage read nor the whole matter of if you pre existing conditions and we just that it just cross borders you get a better deal. That's never been the case if you have chronic illness which oh by the way tens of millions of people do you could not get insurance before obamacare now you do and guess what it's not insurance it's the thick stuff that was broken from before it sort bankrupt the insurance companies. As John Kasich said. Shame on Republicans who never had a plan to cover sick people that's right. So we're gonna we're in this like mess as a bipartisan mess you know it's Varian usual today is. The yield on the ten year treasury. Is still very well I'm looking at the yield on the ten year treasury 170 any thoughts on why interest rates for me and so. This is really interesting Perry because when we've seen the risk on risk off trade. You'd see money go into the market come on the bond market the bond market is perceived as a almost short on the stock market. What's happening is it looks like there's some sort of release of liquidity meaning. Money that's sitting in cash. Is now looking for homes it's buying bones it's buying stocks it's taking money out from under the mattress. Out from the like that cash religious I'm usually itself as it's because we something has to give some nasty and we've seen one or the other with people get nervous the buy bonds when they're feeling good were responded by stocks received this week is debunking global. We haven't seen a long time. Why bring that up because leader bank is an institution financial institution. That you should consider for refinancing your home or if you're going out to open houses this weekend. Called them and get a pre approval letter so your bid on a hole will be taken seriously. Leader bank is a terrific bank. I do business with them and I recommend that you consider them for your banking relationships. Their phone number is 8776917900. That's 877. 69179. Zeros Europe if you need a mortgage or if you wanna refinance. Call leader bank its leader bank dot com to take a look at their rates on line you can do that. Or go to talk to lending officer there folks standing by right now to help you out. Their phone number is 8776917900. Speaking of local banks John Webster financial reports a slight dip in quarterly profits what you know what this is a story I. Actually like oh law. The headline says well he missed by a couple of cents a Waterbury Connecticut based company Webster you're probably familiar with the Webster financial. The report a slight dip in profits from higher expenses. But if you look beneath the surface it's all good news and this is what I understanding got a heck of a bar when they bought those Citibank. Branches I'm sure they did nobody won exactly but they're in good locations like here. The end here in new Reagan took over the leases but they're brand new and near and really did OK city has some excellent assets that. We're very attractive and under park east and they came up here in 2000. While I talked time and could hit anywhere any time or it. That was Donald Trump timing in a have a Donald Trump he said he was gonna go to mortgage business out of truck mortgage and it's great that it went to go in. Is either 2006 or 2007 and went bankrupt with the height of the bubble but anyway the good greatness for Webster is even northern numbers came little short. Loan growth was up 11%. The increase was one point six billion dollars to pause it's a six point 7%. And the thing I love about this is cost arising which you think is bad news. No it's good news the costs are rising because they're expanding in Boston. They're adding new branches in while the boys are retrenching. A limited language is pulling back from markets. This is creating opportunities. For players like Webster's. It's a pretty good to do this it's great let's put a branch over here at this place that people can't get you know serve. This is the free market economy going and and there are. They're having higher expenses for very good reasons are investing in future growth I just. Wonder about the future of the bank. You know late game like. Make the reasons city couldn't buy namely Austin. And the need for bank branches full brain training. Greatly diminished and as last time you went into a bank. It's been a couple of months I I can't it's been so long for me it can't remember I mean I don't read into anything if it is it used. Yeah I've got forty dollars that's been in my wallet now of keeping track has a card in there. Has been in my why haven't touched it in seven weeks. And in what you what you're talking about is a treadmill I'm not just aren't enough. But I read that millennial generation is not thinking at all that I read that. Of millennial swore employed gainfully yeah. That's something like 40% of them. Don't have a bank account or checkbook or chuck it in the bank account but they don't happy eight checkbook. Be the innate Corretja and we seeded in the branch they look at you like you've got to it yeah unity now and then they might need an eight Yemeni. Went by so we'd Europe there that it could. It has four points and eat at all of that's oh and well played soccer and they considerate of you talk about the Milan meals in stuffed in a barrel pay cash from one lurking but there. I bet you can buy the credit card they got those little things you despite. On your iPad or something he's that you're about that in the electric car in the autonomous vehicle and he won't even if the thing right. You walk in that in to everyone to do I heard that but. Six if these attacks ever if you happen to be in that business and Yunel. We wanted to know can you buy marijuana. With a critic. I know god it was do you know how he's doing is a bookstore really get a bookstore that the profit margin was in marijuana now in the books. I've watched I wonder pay pay if they probably accept PayPal and right now. It's that you talked about the behavior noble ideals and the behavior of our generation. I have been reading that the next generation generation be set for viral that's an order a they're the ones who are like under twenty OK mostly teenagers. Here they are turning against technology. I can't hear that they of the social. But sociable. Generation. That they're not using Amazon because they want to go to the mall they wanna interact with real people they wanna touch these items they wanted to talk to people it's like this concept. Of our parents you know CE and I'm glad you brought that up my son who's still in college. He came home and we went out to dinner and he said okay everybody your phone in the middle right. First one pick up the death their phones had a Biden move in the eight they're big on that today they're big on do not touch your full. And and get away because it really is distracting to absolute I can't watch a TV show without having my phone on the same time to check hockey scores you know what this generation coming up cities. They see how we office yeah. Milan deals like talker us the baby boomers. They see what we're screwed now you know and they don't like it. They actually like interaction so when you're little those bank branches yes we're gonna have an upcoming generation ago what they are accused of awhile while that. We'll find out about that. Also in it for morning star joins us next to talk about three stocks. I would consider these to be high end retailer would you agree John you know it's salute right that's our next topic on the Benito exchange from the insurer match dot com studios. Whether the election is carried by red or blue find out what we'll do tiered green right here in the financial exchange on the financial exchange radio network. There are struck here did you know that there are legal restrictions as to who you can name as the beneficiary of your retirement account it's true federal law requires that you're surviving spouse has to be the beneficiary of employer sponsored retirement plans did you know that on death your higher rate can be taxed four times all I arrays are taxed at state and federal income tax rates but they are also tax by federal and state death taxes that can mean that as little as 20% of your retirement plan will be passed on to your Ayers we're giving away a free guide that will teach you how to avoid excessive taxes on your IRA and it will also give you guidance as to beneficiary designations on your retirement account imagine if 80% of your diary was lost to taxes call 803934001. Call now 803934001. Securities offered through securities America incorporated member of the rest of the BC and advisory services over the securities America advisors incorporated Armstrong advisory group the securities America companies are not affiliated at least until with your qualified tax expert for any tax related concerns. Stay Vanessa protection claiming can be overwhelming where do you start and how do you know what type of trust is right for you when your family with the numerous types of trust available the state claiming can certainly be confusing do you need a replica ball or an irrevocable trust. What's the difference should you consider a special needs strong restore life insurance trust what are the tax implications of each type of trust Cushing Dolan an expert an elder law and estate planning prepared a brand new guide called demystify and trust they'll offer you a roadmap as to the different types of trust that exist to help you figure out which type is right for you and your family request this free guide call Cushing and Dolan right now at 8668485699. Or log on to legal exchange showed dot com you can also reduce and potentially eliminate your state Texas and protect your assets from the nursing home all at the same time read this free guide and get the answers to many of your state claiming questions 8668485699. Or visit legally exchange showed dot com that's legal exchange show. Does come. Hi everybody bury our strong here from the financial exchange I'm joined today by. Jake too who's a senior vice president at leader bank and worked talking about something called. He ran it this is a program that allows landlords with you have. Ten tenants a 110 tenants are 210. Tenants in allows you to collect your rent electronically. As opposed to waiting for those paper versions to come in the mail so wonderful new program available exclusively. From leader bank and Jay's gonna tell us exactly how this program work. They bury so it leader rink we actually bank a lot of real estate developers and property owners in the Boston area and some of our larger clients. Came into the banking and we need him coming with huge wads of checks. It's we thought about you know why why is it in this they needs are still bringing so many checks that they ain't. It's it's a simple thing you know and in a you have property in Cambridge. Three unit building and each unity is three bedrooms. You may have nine checks at the track just that one proper aren't religious college student exactly so you have three properties that point seven check this starts it starts out pretty quickly. So would you read what we've done is we've we've allowed a landlord to invite their tenets that tenants signed up. We got each share range from the tenants and then one ace each payment. That landlord each unit. So it makes very clean and simple it's very clearly described as to what the rent being paid for which property crest which unit number and everyone gets reminders and automatic. And it. How do you learn more he called 8776917. B 900 that leader banked all free. 8776917900. Asked how leader bank can help you collect your rent electronically it's terrific. 8776917900. Or visit them online at leader bank dot com. When Todd then what's trending. The world of finance and go from Barry Armstrong and chuck signed up on the financial exchange radio network. This segment of the financial exchanges draw you in part by the New England firearms academy if you ever thought about what needed done. And your concern for your personal safety or that of your failed to register today for basic firearm safety class I get it. Conveniently located above four seasons guns in Woburn Massachusetts. Called John or Brian those are my friends. At 7817906. Or six to. Or visit. And eat firearms dot com for more information. Right now we're joined by Paul Swindon from Morningstar. Looks like you've got three stocks for today already got. Morning Harry get there I'm terrific great. Well you know it was a stinger last session I was on the line without listening is talk about people looking for experiences. And one of the things that I'm seeing even when I talked to my kids are kids and bites you know neighborhood a place sports with that with my guys. I think people are gonna go back to have more old fashioned thing and one of the stocks that undervalued right now listed swatch group. Now people think of slot just plastic watches. But in fact they make the hearts for all those with. Mechanical watches that help for 5102030000. Dollars they have even almost monopoly on some of those parts. Now right now there's been a down draft and industry because of China easing their growth a little better people aren't getting as much blame is being used to. We think that this for the company that's going to be very very solid for the long term it very cheap right now. Gupta is as you point out they have a monopoly in some of the components. So we'd like swatch so long run get it looked thinking ahead when because of sentiment on China right now but it it's a very unique business. Can you buy an RUS exchanger DF to go well yet to go to elect foreign markets. Yet there is an ADR and it. Actually it's a little bit less liquid than let's say NL VMH. Arm which you can buy it as US investor or you could buy it on our extreme. Yeah. I see that swatch that you like how about Ralph Lauren. If Ralph Lauren and and and and another. Predicament and that. They've been spending a lot on their web site on infrastructure for their height he's system to back up as. Similar to swat and other European operations in Switzerland Swiss franc has been incredibly strong. That's penalized their profitability. On the Indy European operations about a third there's still however route. There's not a big business in China Asia they only about 200 million dollars. In all of Asia. In only it'll about a hundred stores in China. So in the long run we see middle class Chinese growth and it would helping it he has tonight your right now in China. Eventually Ralph can tap into that. But by the US to visit been hurt by a lack of Taurus with a strong dollar that's starting your first. So again it's a place that's where people arresting them bet they you know bad news and a short term. I'd win. From the dollar bit that Gunner person eventually emphasis strong brand is gonna do well. Yet consistent without Paul is the issue of the high end consumers. Hannah poling in the strings a little bit here. I reading that a lot of the demands. Of among consumers has actually been among the poor consumers in the last few months. And I wonder if the might be a trough thing here. In demand from high end consumers of that might be something that might be coming back in the next few months is uncertainty around elections and economies have wings. Yeah I'm totally with you there and you know we were looking for a split here isn't JC Penney rate after that. Recession in 20091011. And that consumers just been beaten down for literally 56 years you on the flip side I think high and consumers. You know they held off during a recession and make splurge a little haphazard fashion. With the stock market volatility this past winter maybe people are moving on to buying you know houses cars big ticket. There's been a brief their camp across the board whether it's golf bite. You know jewelry at Tiffany's. Or to tie and apparel but again that's gonna. Come back at some. You know what there aren't a lot of them actually going however that might actually be turning around as we speak because there's a lot of that was due to the turmoil what happened financial markets in January and February I wonder for 16% increase in the S&P might be just what the doctor ordered. Yet that that's gonna help they use you point out there is some uncertainty around election people in the security to put additional here out you know you're gonna get taxed more. You might say let's wait till next year on additionally. All the high and brand like Tiffany Ralph Lauren. Coach spaced held a lot of international tourists that come in US. When the dollar is really strong. You know there are fewer tourists but there was also less buying from the tourists that were here is there a while I'm looks expensive all week till like go to Europe probably put it somewhere else going to be cheaper. You know Tiffany's trading at about 71 dollars a share. They've been as high as 96 during the last year you think they can recover and get back to their full share price. Yeah that's another stock Eric I'd like right now com. I don't know if you follow our armed mode methodology we do companies they're really strong brand and some motor around you know. Tiffany one of the strongest most of my whole coverage list. And I coveralls what treaties. That 170 year old brand. The rub against the right now that they've shrunk in the united you know in the United States the fourth quarter. As investors look at this animal testing can grow anymore did you know a pass that might last year to an and it starts picking up again. And I I think this is a good time to get that back again it's one of the Morse it's not a high growth stock but it is it more stable stock. Great mode and they do have some runway in China and Europe as well. Paul speaking of moats how would you rate the remote. For Netflix. Well that's not a stock at current job outlook tree and sporting goods to that and stab at just on the department in the you know generally if you got if there's some kind of network perspective there's some kind of effect wears you get bigger. You know you're more expendable and no switching costs and that gives you pricing power. That's part for made it this day on that when it's not mine yeah I made it sound like a medium and now I'm only being. When more people use I don't know that it makes other. Keep other people were likely to use it on the flip side you know people know that Tiffany brand people know. What text has to when you have the highest. And brand like Omega and block pan. You know what people wanna go buy a lot treat watched it one up I want it now we've ever heard that brand is extremely important. They they would even on the sporting good site under armour and night people wanna know that there shooter and I kind of bailed them when they're going up that shot make the winning goal you know. You know what it totally anecdotally about thirty years ago I got a wedding gift from Tiffany. And the impact they have on that is something that I have with me today from Andy it was extraordinary special because it was from Tiffany's all right. All we got the out but thank you very much for joining us appreciate it art thank you. Also learned from Morningstar Ralph Lauren swatch tip that he likes and all of the five why identity as they check with your broker advisor before you make any stock purchases. Thanks for tuning into this hour of the financial exchange from our insurer match. Dot com studios. They stayed an asset protection claiming can be overwhelming. Where do you start and how do you know what type of trust is right for you and your family with the numerous types of trusts available it's understandable if you're confused when it comes to a state planning do you need a remarkable or an irrevocable trust what's the difference should you consider a special needs trust her life insurance trust one of the tax implications of each type of trust Cushing in Dolan an expert in elder law and estate planning prepared a brand new guide told demystify and trust their love for your roadmap as to the different type of trust that exist and help you figure out which type is right for you and your family. To request this free guide call Cushing and Dolan right now and 8668485699. You can also reduce and potentially eliminate your state Texas and protect your assets from a nursing home all at the same time read this free guide him get the answers to many of your state claiming questions 8668485699. That number again is 8668485699. Fight your favorite news photos and sports updates on your phone when HP mobile from the Associated Press AP mobile for the news gets its news. Mortgage rates are still at an all time low and it makes sense to take advantage of these rates when you're refinancing or buying in the moment leader bank is a local bank that is one of the largest mortgage lenders in New England with very competitive rates at their experienced staff about mortgage financing options and get a very competitive -- term fixed rate for your home whether refinancing or buying a new home work with leader bank calling 776917900. Or visit leader -- dot com leader bank -- over one billion dollars last year to homeowners in the Commonwealth of Massachusetts they're the true experts in mortgage financing deal with a local bank today and call 8776917900. Or email us -- loans at leader bank dot com visit leader bank for all your home buying -- refinancing needs 8776917. B 900 that's 8776917908776917900. Or visit leader bank dot com member of Jesse equal housing lender. Hi this is Marc bureau CEO Richard Matsch and proud sponsor of the financial exchange with Barry Armstrong. We are an insurance agency that specializes in comparing rates from different insurance companies in order to find the best deal for you. We can look at every policy you have an if you give us the chance we can make sure you have the right coverage protect your family and that your policies reflect all the discounts to which you're entitled. As an example if you have a car that's less than three years old. Call insurer match today at 84499. Match because you may qualify for replacement coverage which would reimburse you for the full value of your car not just the depreciated value. If you have a specific question about your current policies or are simply looking for ways to save some money don't delay call us right now at 84419. A thing called Z rent this is a program that allows landlords whether you have. 1010 it's a 110 tenants are 210. Tenants is allows you to collect your rents electronically. As opposed to waiting for those paper versions to come in the mail so wonderful new program available exclusively. From leader bank and Jay's gonna tell us exactly how this program works. He's very so it leader rink we actually think a lot of real estate developers and property owners in the Boston area and deliver larger clients. Came into the banking and we see them coming with huge wads of checks. It's we thought about you know why why is it in this teenager still bringing so many checks debate. It's it's a simple thing you know an in thing you have property in Cambridge. Three unit building. And each unit's three bedrooms. You may have nine checks yet we keep track of just that one prop corporate budgets college student exactly so if you have three properties that's point seven checked it starts it starts out pretty quickly. So eggs you read what we've done is we've we've allowed a landlord to invite their tenets. The tent and sign up we deduct each share range from the tenants and send one east each payment. That landlord for each unit. So it makes very clean and simple it's very clearly described as to what the rent is being paid for which property crest which unit number. And everyone gets reminders in its automatic. And it's. 8776917900. Ask how leader bank can help you collect your rents electronically it's terrific. 8776917900. Or visit them online at leader bank dot com. Every other thought of owning a far on this is Brian Dolan from the new in the firearms academy Rudolph for the basic firearm safety class required to obtain U Massachusetts license we also offer the multi stage firearms permit that is founded over 31 states and specialize in personal safety home defense and a variety defensive firearms classes to meet your needs calls today it's 7817906462. Located right above four seasons guns in Woburn call 7817906462. Or register today at any firearms dot com. Hi I'm Joan Lunden and appear worried about your parent Carol Loveland living alone like I was. And you are reliable senior care information. And call a place for mom. The nation's largest senior living referral service you'll get free information on assisted living. Alzheimer's care nursing homes even important financial information. They had obviously researched every place not just given meanings. They found me a place for which she could afford and it was magnificent. 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This is the financial exchange with Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day your city your world and stay. Informed and today about economic and market trends plus breaking business news. And the financial exchange with the very Armstrong and shocks. John Moody filling in for trucks audits today and you know John it was only two months ago. And I spent my afternoons. Talking clients all the way. What that means is we're trying to encourage our clients talker and not jump out the window closed and commit suicide that's good because they've lost some money. That's it that's how bad things were two months ago here we are. April 20. And now I think we almost have to do the opposite. You know we better have roaring bull markets is that up about 1516%. Suspect the thing you have to tell yourself when you when you're feeling like all the world's coming to an end in markets are troubled. Is your not the only person who thinks that when your clients were worsening. I was talking to individuals were in my family who are saying exactly the same thing I said to them. Don't you think that if people feel this way right now that the risk of overpaying for assets is not very high. That's usually so funny though the weightlifting but I understand you walked in to look for free store you walking into east suits storage something's on sale. I we're dealing goodbye that's it for 200 dollars. It was 300 dollars last week right when a stock does that right same stock right it is still it is is a 300 dollar stock last week and it's 200 dollar stock today don't touch that I go to zero in fact also that clothing I have yes and a crazy stuff crazy stuff. Eight here's something it doesn't make a lot of sense and maybe you can help straighten it out. Yahoo!. I mean this is a company I'm gonna say it's in trouble it's a rapidly shrinking ice cube. And their stocks at 3%. Please help because. It was assumed to have no values male and now I think the feeling is some of his bad news is novel way in the next thing is it likely is taken over. Somebody has a really good question today at CNBC and that was why do we even care about. We're spending a while now I'm talking about it's three. Useless and how do they put valuation on between four and he billion dollars because it's an existing portal that a lot of people use for something like you were saying you use it for business report so I will use it for sports Yahoo! Sports. Actually is pretty good so everyone has like one reason why they use Yahoo!. And we're thinking that someone like an AOL which is now owned by Verizon. Might wanna incorporate that in cherry pick its assets and in the news report I just wanna remind everybody. The there revenue dropped 18%. Yet. And they lost ten cents a share as opposed to a two cent profit last year or so that the company is doing poorly but there are an auction process for the company right now. Did search that being accepted for between 4000000000 and eight billion dollars for the entire entity. Verizon we know is a bitter yeah we also understand that Hugh K publisher you know the Daily Mail yes it another interest in source variant on that. And an investor group including Bain Capital is an honest you know so there really value to be had it might actually be the Alley Bob a stock you get whipped up. And I guess if you can buy this thing for less than the cost of the Alibaba stock they own. People have been can probably figure out a way to make money how about Mitsubishi's historian Mitsubishi. I mean there. The they basically acknowledged that they been cheating. On and there are not emissions but I'm miles on mileage and remember. I believe was Hyundai and went through the same thing they were saying that the Elantra and the Sonata we're getting better mileage and they really were getting. And they paid a big following in and I think gave some nice goodies to their customers to make up for. But does the we're talking a 625000. Vehicles affected. Mitsubishi is admitting they conducted test improperly to quote present better mile per gallon results. Now we should point out this is not affect anybody in the listening audience right now picks who's done. In form mini car models which was sold in Japan but it's sure a affecting you feel on the stock. It is affecting your view on the stock and it's a big blue chip stock Mitsubishi. Two models of the open Mitsubishi and a couple of other for supplied. Two Nissan so again it if it gets to the credibility issue may not affect you in terms of the view you're driving Mitsubishi is a big blue chip company one of the biggest in the world. To see them blatantly cheating yeah. Raises questions another car company that's having some challenges it would be Tesla you know on the big and it tests. But they don't seem to be of the man in there have been major problems with this model X car which they are selling for about a 140 green. And we talked about mode and we talked a while you buy company. Test was earnings and sales certainly don't justify the price they were losing money. But what they offer is a vision for the future that's better than anybody in the world in a vehicle that it's highly rated and has almost universal. Customer satisfaction so. You're looking out the future and saying what could this be. Willis two major obstacles they need to execute. And they need to ensure. Quality but here's the problem you got a guy whose pain 14100 dollars a month for leaks on one of these cars. Blew the doors won't open rightly he can't open the doors for the car. And so he calls Tesla and says I need to pick up the car. You pay 14100 document in Sydney and look at for two weeks as it got so many wrinkles. In this is the problem and and what kind of staffing and they don't have a network there the anti network the right or are they don't have a dealer network that they can call on and say hey we need you guys to work Saturday and Sunday to fix these problems yeah I mean you and I may not like the prices they charge of those dealers but it's nice to know if there's a dealers there right around the corner handle the recall for a free. What they're not gonna have dealers this is the downside of not having a dealership and they actually come out physically pick up the car. When they get around to yeah. And if there's a lot of Rico if they can sell 325000. Of these things. With the AA network of production that's kind of as you go. You know good luck if there's a major recall involving 101000 vehicles but we know we must have this wrong because the stocks up for brushed it if that's but it took what the heck do we know right stocks up for box and we're talking about all the problems or haven't yet I think what if you believe. Tech review tribunal for Korea Adam and John you haven't tried it yet either I I I thought it was condition of employment here. Seeded Charlotte. Actually I drove volt I told you when I brought my car for work. At a place in Tibet for violation of yeah. And I had the par for the day debate let me use that while it has been charged up when he got this one's okay seat driven electric and it was it was a very impressive pitchers I didn't like the fact that it never felt like you're driving like you stop and you feel it and then you east accelerate I thought. Is it off yeah they'll move is necessary there while I feel like I do you drive. Anyway. It will be like bolts that are Tesla as the electric cars or not. What you should be thinking about is how to make money and street. Right now that's over here or how do you make money on the electric car trait if you believe it's gonna take off I do. You would be the first I would talk to such and such situation well in gasoline car you guys both drive gasoline cars Peters 55 pounds of copper in your car. If you buy a hybrid right now hybrid would be a Toyota Prius. Or focus any the hybrid vehicles. There is 100 in ten pounds of copper in those cars. If you buy an electric car but you should be able to worry tests they have 165. Pounds of copper in those cars so. Might here's my suggestion right if you are convinced that electric cars are gonna be in major mode of transportation. Angela boss copper. And even if you don't believe that's the case yeah going out and buying copper mimic a lot of sense because there's a lot of applications for copper. In this is. They're saying this could be the next great precious medal yes one of the once it's really overlooked and has to do for industrial reasons as to whether economy. Things that come with. Basically the whole bunch of product threatened about I mean it if you talk but dishwashers now imagine if you're selling a million electric cars. On national or worldwide it would be incredible near term demand but longer term. Where if you think about something more basic think about all the people in China who moving from. Lower class to middle class. Things we take for their buying refrigerators that are buying dish she just like discredited copper and knows he built houses like opera house right. They every Wednesday we interview and owner of a business today is no different. We're going to be talking to the founder and president of source service its business owner Wednesday. That's our next segment on the financial exchange from the insurer match dot com studios. Collection 2016 men who will have an impact on the economy like Dell hell right here in the financial exchange a look financial exchange rate. Their work. There are struck here did you know that there are legal restrictions as to who you can name as the beneficiary of your retirement account it's true federal law requires that you're surviving spouse has to be the beneficiary of employer sponsored retirement plans did you know that on death your higher rate can be taxed four times all higher raise our -- that state and federal income tax rates but they are also attacks by federal and state that's taxes that can mean that as little as 20% of your retirement plan will be passed on to your Ayers we're giving away a free guide that will teach you how to avoid excessive taxes on your IRA and it will also give you guidance as to beneficiary designations on your retirement account imagine if 80% of your higher -- was lost to taxes call 803934001. Call now 803934001. Securities officer securities America incorporated member and resident BC and advisory services over the securities America advisors incorporated Armstrong advisory group the securities America companies are not affiliated at least until with your qualified tax expert for any tax related concerns. The state Vanessa protection claiming can be overwhelming where do you start then how do you know what type of trust is right for you when your family with the numerous types of trust available the state planning can certainly be confusing do you need a rev a global or an irrevocable trust. What's the difference should you consider a special needs drugstore life insurance trust what are the tax implications of each type of trust cushion in Dolan an expert an elder law in the state planning prepared a brand new guide called demystify and trust they'll offer you a roadmap as to the different types of trust that exist then help you figure out which type is right for you in your family request this free guide called pershing and Dolan right now an 8668485699. Or log on to legal exchange showed dot com you can also reduce and potentially eliminate your state Texas and protect your assets from the nursing home all the the same time read this free guide and get the answers to many of your state claiming questions at 8668485699. Or visit legally exchange showed dot com that's legal exchange show. Dot com hi this Marc bureau CEO Richard Matsch and proud sponsor of the financial exchange with Barry Armstrong. We've been working with Barry and his team for awhile now and our experience has been nothing short of sensational both personally and professionally. Our goal is to make sure you're getting real value in coverage for the dollars you're already spending on insurance and that's why we want you to call us today at 844. 99 match. The Massachusetts division of insurance says that within the past twelve months a number of the State's top homeowner's insurance companies have asked for rate increases. So before you renew your current policy given your magical and let one of our trained experts review your situation and help you understand if there's a better package out there for you. Cole ensure mass today at 84499. Match to make sure you're prepared for the long winter ahead that number again is 84499. And eight TCH. If you're looking for a great deal on a new -- -- program you should check out the zoo were awards program to leader bank is now offering it's and checking account along with the companion savings account and as long as you qualify you'll receive three benefits first -- get a savings rate of two point 05% annual percentage yield up to your first fifty K all of your ATM fees from use in other banks will be reimbursed and you'll get 1% cash back by using your debit card on visa credit purchases just sign up for the statement with the account direct deposit at least 1000 dollars per month and do -- debit transactions per month cult leader bank right now at 8776917900. To learn more about the -- rewards program that's 8776917. B 908776917900. Member FDIC equal housing lender zero point 20% annual percentage yield earned on portion of daily balance greater than 50000 dollars those who do not qualify presume we're awards will learn zero point 10% annual percentage yield on savings balance member FDIC. We're giving you the business. The financial exchange with Barry Armstrong and chokes on up on the financial exchange radio network. On Wednesdays we conduct interviews with this. This owners if your business owner and you like to talk to us about your business in your company. Contact my producer (%expletive) Silva is go to our website which is the financial exchange showed dot com preference yet. How we do and he's getting a lot of you know a lot of ice chip and got. Our guest today is Darlene Jacob she is the founder and president of a company called. You worse service not sure I know exactly what you do. Recruiter little closer to a startup that. Recruiter for our own states holds up. Now you're talking you're not talking about. The young couple that wants to hire a nanny you're talking about that we're talking off air about shall I. A wealthy and we wanting to hire full time job I don't I don't have a full. I don't think at regular and I like parts of the down. It's like amnesty and a picture of her private staff could be you know on pilot pilot a yacht captain. Wit and so. Wealthy people come to you and they say I'm looking for the tease the yacht captain that is an example how would that job work. It's up of presidents to 250 foot yacht. And I want it to be between Martha's Vineyard in the Caribbean. See you in your higher cap how much like. How personal how would you find some of their website to surprise. People for captain absolutely captains. Safety was chef's. Secrets don't always do that they're. Think like how wealthy does somebody have to be. Very you know like peeking. Don't give us an example that give us did don't don't give us any names but give us an example some of the wealth that you've seen out there. Are excited to unseal the fortune 500 company that I'm extremely wealthy they were looking for a couple actually. And I found a couple that owned that breakfast up in Vermont. And in Europe selling there on bed and breakfast. And they got tied 22 cooking cleaning and care there ST yeah I'm very very very high and individuals. So it's almost sounds like about learn a maid type almost and yet you don't estimates that is. You got this started for next to nothing this is literally saw no wind on a whim and you have this like wild idea that you had no money just whereabouts Kendall out. I think no budget I had no plan nothing at all it's twenty and it's a lot of work for a company very similar to mine happen and that the violent. In those caddie party you know lake house and that a woman there recruiter for an IT company. We got to talk about from. And then non contact able to between the steel it's looking for an. Eagle and what it would begin to be interest Cheryl why the sudden. But cited the company is service the ethical votes all the personal service and in print some business cards. And then not went online to be searched not to magazines newspapers and contact the editors and it just took off. How does how much does a wealthy CEO pay for me. And hopefully it. In that's a full time job all that and that's. All you're living cost poverty David usually get a car I would think a couple of need. And accessed via. Fully furnished it and content. But at the beautiful place him. Spent months and got housing housing it by their own food ice and I was. For expenses that they got health insurance. And Arlen and everything so what kind of people are you looking war. Two lately with the typical. Characteristically you can you've got to deliver high quality product apps to your customer. Epic experience. Now I'll eat my hat please people who like it. In the position for them on. It what's. The manager then from the twisting at the start at forty to fifty grand a year with Indian nanny with Alexis spent in a nice place to stay on it that was the caretaker of the Clinton. It will what are you working whipped at the start listening in to this public equity. It was covered except for the clinic at the with a shout with with the chef bill. Recruiting for now starting salaries some 70002. To the finish in champ. Nine months in jail in three months. Of housing include in my office and yet how these include. Well it's a five day work weeks at these people who is a school. And the university of. Man is a well and and if it's a 150. Foot yacht that your hiring a boat captain yacht captain war. Debbie crews well I see the matter at all happy or not to block island yeah seat. I I pulled up and and you know my dinghy and and yeah. And there's there's like half a dozen of these super yachts and 68 over the innocent who hires the crew do you hired occurred as a captain. And now who pays you the the final client paid absolutely. There is a lesson here though generally. Is there I mean without giving away trade secrets about using things like Lincoln using things like web searches I mean you're mastering the idea of the connected world. In connecting people with needs its its. That's literally all that write these phones. Exactly and not a lot of fine. People. In with. 100% satisfaction what amazes me is the end here you're dealing with billionaires you know what you did you know with little or no capital. Human capital how many of you have any employees now it's just use your running this business. It's a way with the website address its virtual. Virtual. At your service done because it's virtual it's not it is but at the virtual right but you're on call twenty or so absolutely right somebody talk on this. It's Alex back in the past captains. Itself comedy declines but even he. It did to make the. Action but range up to re finally. If five or ten billionaires have. But if it really well and I would think if you've got two big. You would lose that person yet that they use the stuff that's that's up to. Personal I think is nick collier said the united what you said at 10 o'clock and they'll probably expect him. That's a good start up here but public and now a celebrity client okay you do tell event I was done watching it happen at the end of skiing through the channels in this celebrity. This co hosting on Regis and Kelly didn't we just saw that the days of the troop vial of oil that. In outlook for Butler because quite Butler. Has no idea we begin I'd like you're either. Okay someone on the web site and have nobody had a fax number. So I typed up a click on about my business what I do Latin the past years since it was at a show that they can some assistance gonna get it yeah through and at least it basket and the star break. That clinic bombings about 10 o'clock at night. It's too until it's picking anything up and let's call that. It's this social personal assistant. I didn't know Israel mean with the types who who sent it to the channel. You know he didn't want to work with you know ice skating well. Unbelievable thing which gets you haven't you know. A splitter height what are billionaires like the. The Texan that this is. A real jerks out all night. Any show business people say this person's shoulders with him we would know. Absolutely. Her cool very cool. Well a outplayed the here's a million different ways to make a living. You know catering to the needs of billionaires happens to be. It's that. You deal with any millionaires are now. You know lunch bucket millionaires you know they're guys that are only worth with a million lead analyst. Just that you got to know where the line where to draw the line I. If that guy who was was doing the date trades from his place and a New York who got in trouble with fidelity. What are not and like an uncle that I want to repeat the website one more time it's Darlene Jacob. And you the founder and president of virtual. Pet your service dot com. Right so with your billionaire and I know we have many billionaires listening to the show. A lot of them don't get here until July because they come up and hang him out of Martha's Vineyard and there's a few that are that are hanging out and you know if Barry I needed somebody find a Butler got captain yet I'm working on my resume here trying to find skills. That would be applicable for being good immunity because I think I do agree using I really do well and you know in the forties like if I could do bail for you to fail in the winter in Martha's Vineyard this summer about exactly. All right very good decent enough to fill and now I think they are better I think they say he did you are quite gets better pay. It Darlene thank you very much for joining us with your payments that's Darlene Jake them from virtual at your service dot com. You know you look at very dig your nanny a yacht captain might have something for you pay will be back and we're broadcasting from our. In short magic dot com studios. You've got Barry Armstrong. Extra on the financial exchange radio network. 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This is very Armstrong and I'm joined by estate planning attorney Todd black ski from law firm Cushing in dole and were talking about iPods new guide called dean mystifying trusts. And here's a question. Often arises Todd is it possible to protect your children's inheritance. From a future divorced about talking about the the divorce of the parents. But you leave half a million dollars to your daughter and ten years after your demise she ends up going through divorce is it. Possible to protect the money that you left to future generations from their potential divorce. You know that's a great question and the answer is yes in a nutshell let me explain and why it's so important you hit the nail on the head areas with estate tax exemptions federally being so high more and more money is getting to the children sure and so when they're getting it we need to figure out how. Best they should receive we don't want just don't get their hands because if we do exactly what you said could happen that you dumped half a million dollars and and in a child and they get a divorce five years after you're gone they're going to be left with 250 on a good are gonna lose a big child didn't lose a big chunk of their. That's so the important thing is that if you haven't sat up in a trust. You can you can design the trust in a way so that the child can continue to receive money. In the other trustees' discretion. And enjoy it for themselves. Kids so grandchildren. And effect creditors with them. The other trustee will not exercise their discretion to make a distribution so it's protected. And it will get to the next generation as they tax break won't be included in the kids is neither. Do yourself a favor and call to receive Todd let's d.'s new guide called deem mystifying trust and hope you protect your assets 8668485699. That's 8668485699. Tool free. 8668485699. Bury our struck here did you know that there are legal restrictions as to who you can name as the beneficiary of your retirement account it's true federal law requires that your surviving spouse has to be the beneficiary of employer sponsored retirement plans did you know that on death your higher rate can be taxed four times all higher -- are taxed at state and federal income tax rates but they are also attacks by federal and state death taxes that can mean that as little as 20% of your retirement plan will be passed on to your -- we're giving away a free guide that will teach you how to avoid excessive taxes on your irate and we'll also give you guidance as to beneficiary designations on your retirement account imagine if 80% of your prior rate was lost to taxes call 803934001. Call now 803934001. Dirty suffer through securities America incorporated member of the US ABC and advisory services over the securities America advisors incorporated Armstrong advisory group the securities America companies are not affiliated at least until with your qualified tax expert for any tax related concerns. Have you ever thought of owning a far out. This is Brian Dolan from the new in the firearms academy we offer the basic firearm safety class required to obtain U Massachusetts license we also offer the multistate firearms permit that is founded over 31 states who specialize in personal safety home defense in a variety defensive firearms classes to meet you need calls today it's 7817906462. Located right above four seasons guns in Woburn call 7817906462. Or register today at any firearms dot com. Your dream home is within reach with a Jumbo mortgage a loan from leader bank they're Jumbo loan program designed for financing an excess of 500000 dollars offers fixed or variable rates for both purchases and refinancing all originations are managed by a leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visibly your bank dot com member FDIC equal housing lender and MLS number four corner Dubai zero subject current approval leader bank a step ahead. Even your money and your thing move right here. It's the financial exchange with Barry Armstrong insurance soda on the financial exchange radio network. Then we can change. Who can then. Bill Dow's up forty points as we speak John Rooney and bury our turn at your service BMW. Loses their core development team of its I three and I eat electric vehicle line. Tell you what they're trying to break in this this is something at a market that BMW wanted to be in their being raided. It's highly competitive a Chinese start up is actually poaching their talent. It's called future mobility corporation is what happened area veteran BMW executive yeah. Who need it who headed the plug in hybrid sports car effort. He left to join this Chinese company which is startup which will be in Germany which will be in Germany that is a Chinese company. And yes they're going right to where it is now the heart of BMW country and their literally spilling into the town. Well just like didn't apple didn't we report that apple stole Tesla executives Corretja you know that are reported that dates we get I mean it's. It's it's an area of expertise and nominee engineer sat. And you know to the credit this Chinese development company pace said well where is the expertise it's there in Germany. It's at BMW let's go hire the BMW exactly do that. Maybe leverage it by being able poach other workers that you don't they do but now you're gonna see is these auto companies are gonna start tying up these exacts contracts. And non competes. The L like a lot of times you don't have a non compete. You know yet hired as an engineer twenty years ago in you rise up through the ranks you may not have a non compete may not have an employment contract what do you think of these emerging technologies. That if you were running an auto company that you make darn sure you've got your people in there. Who were involved in secretive efforts. That had to do with the future company through the Q do you make every effort to try to tie them to non competes you have to give them to gold and Hanshin the golden James you can't just say to them you must do this as a condition and one yet to compensate the nifty give and stocky to give them more money. Yet to give them something in return for that if you're asking them to change their original agreement right they grind you work for you in 1997. And now you're saying oh by the way if you wanna stay here. And BMW if the zionists in it and then you gotta put your pain. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at insure a match agency. Can prepare a personalized plan. They get you the best coverage of the best price call insured activity for 499. Match that's 84499. Match. As you know election season is upon us and that usually means changes not far behind. Now is not the time to be cot paying good money to be underinsured. Our listeners you guys. Our preferred customers and ensure a match wants to be here for you. Call insurer match to compare. Multiple rates and carriers at 8449. 844. 99. Match insure a match works for the leading carriers in the industry like our bella. Plymouth Rock in many more. There are license for all types of insurance and they concede the time stress and money with just one phone call in one relationship called today. 84499. Match or go online and ensure a match dot com we're just talk and the other day John. About how people will first of all. When I shop I don't have many. Retailers and using the chip enabled technology. But when retailers do use it customers customers don't like it well it it seems to take forever I have I got a new card with a chip technology and I've used it. And I put it in mega side doesn't work when and again. But he got to put another way and you put it in and it takes so long and you pull the thing out as it oh you didn't leave him long enough now. It's kind of a pain but is it gives you the type of protection that the rest of the world house. But I guess so I actually did this on Sunday on to CBS had to get a birthday card. And it did the trip thanked him I'm certain there are horrible starent at each other you know 40 seconds I am Mike Wallace thanks ox doesn't need to get home here on out. It just takes way too long that died does that at all. Now I keep pulling out to her love it. You leave it and take it out that did leave along an opening with these in Wal-Mart are moving to speed up the check out for customers with chip enabled cards hmm. Visa is launching software that will shave eighteen seconds off the process and this finishing Wal-Mart realized it was a problem. They already adjusted their machines to illuminate a series of prompts which they say it saves another eleven seconds so. Wal-Mart is saying if you go there it'll save about 29 seconds off the process title how long it takes a 129 seconds I'd seconds less. Now on display. Three seconds yeah it's a it's almost instantaneously and 29 seconds quicker and how long which is it is they've got to get that under control because it's a pain now. Well let's do it happens do delete college's lead to higher salaries. This is a really keeps in store ever this this morning it's in Wall Street Journal yeah and caught it. And you know as the father five I paid college tuition to four elite colleges now the question whether or not it was worth it. When I read this makes me think actually did get from investment it sounds like I know at least one in business I got tufts trinity. Whole Bartz and evil right all high expands universities and I remember when I went to like a very inexpensive school. But my wife. He comes from the other side of the tracks right and so she thought this was very important and I was questioning as to whether or not it is. But after reading this it does seem like if you went to pattern will bode and Colby trinity. Harvard Yale there's some value associated with that call triple what I really there's no question about that there's the question is due generally to of the college's lead to higher salaries and this article in the Wall Street Journal seems to indicate. The answer is yes depending on the area of study not if you're studying math chemistry. Science and national army engineer engineering as a matter fact anti. I think engineering you might be better off going to a state school absolutely did better lives yeah. If you get because they might have like UMass Lowell is a pretty good engineering school you know in the huge lab that's very well equipped. You go to a small liberal arts school they would only have a hundred engineering students. In the whole school. So you have no earlier. Better resources but that the the bigger issue in terms of the value received from oppression pay. Is that the leak prestigious colleges to give an advantage. In certain areas like business for example the name of the school you go to is going to be very important but in science technology engineering math. The prescription mayors get educated study hard. When you come out if you willing to work you are going to be needed. The employer's gonna need you almost more than you need the employer so where you went to school to get that degree. May not be as important and I would you don't get the big premium for that college degree you don't know when you go to school you are you know you're making an investment. And cost benefit analysis just unfortunately has to be part of that for our decision to second nearby and a stock her car house because it's emotional. And you gotta take and and you're dealing with an eighteen year old who may not be terribly well equipped to making that decision and parents who think the eighteen year old entitled to the very best they can yet. In our very weak sometimes in making decisions saying you know what right going to that state school for 20000 dollars. Is a better deal from the private school for sixty. The reason this caught my attention over the weekend has dual working. With my cousin. And my niece is looking at this whole thing right and she's looking at school she's an engineering maiden and we had this very conversation it's fascinating. And it is it's in today's Wall Street Journal if you take a look at it is the title of the article was due to leaked college's lead to higher salaries only for some professions. Here's a trivia question for you. What city is the capital of the United Arab Emirates if you know the answer to that text us at 68680. What is the name of the city. That serves as the capital. For the United. Arab Emirates are tech's number is 68680. When we come back we're talking about the occupations. At. The greatest risk for labor shortages why do you care about that while there's going to be a labor shortage in a certain occupation that's. A profession that you might wanna consider entering. Because you gonna get paid more because there's a shortage of them. That's our next topic will be joined by Jeffrey spark shot from the Wall Street Journal next on the financial exchange from our insurer match dot com studios. Every time they can read it could affect the bottom line here how election Twilley sixteenth is already affecting you were right here on the financial exchange this is the financial exchange radio network. They stayed an asset protection claiming can be overwhelming. Already start and how do you know what type of trust is right for you when your family with the numerous types of trust available the state planning can certainly be confusing you need to rent a cable or an irrevocable trust. What's the difference should you consider a special needs trust your life insurance trust what are the tax implications of each type of trust Cushing and Dolan an expert an elder loan estate planning prepared a brand new guide called demystify and trust they'll offer you a roadmap as to the different types of trust that exist to help you figure out which type is right for you in your family request this free guide call Cushing in Dolan right now an 8668485699. Or log on to legal exchange showed dot com you can also reduce and potentially eliminate your state taxes can protect your assets from the nursing home all at the same time read this free guide and get the answers to many of your state claiming questions 8668485699. Or visit legally exchange showed dot com that's legal exchange show dot com. 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Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets are friends and ensure a match can prepare a personalized plan they gets you the best coverage at the best price call insure a match at 84499. Match that's 8449. 84499. Match that's 8449. 84499. Match or go online at insurer match dot com. -- are struck here did you know that there are legal restrictions as to who you can name as the beneficiary of your retirement account it's true federal law requires that you're surviving spouse has to be the beneficiary of employer sponsored retirement plans did you know that on death your higher rate can be taxed four times all -- -- are taxed at state and federal income tax rates but they are also -- by federal and state death taxes that can mean that as little as 20% of your retirement plan will be passed on to your -- we're giving away a free guide that will teach you how to avoid excessive taxes on your irate and it will also give you guidance as to beneficiary designations on your retirement account imagine if 80% of your diary was lost to taxes call 803934001. Call now 803934001. Dirty suffer through securities America incorporated member of the rest of the BC an advisory services are with the securities America advisors incorporated Armstrong advisory group the securities America companies are not affiliated at least until with your qualified tax expert for any tax related concerns. Securities are securities America income member SIPC and advisory services are securities America advisors are represented on our advisory group in the securities America companies until. And includes. Larry chuck in the financial exchange on FaceBook FaceBook dot com slash the financial exchange this is the financial exchange radio network. This segment of the financial exchanges brought to you in part by leader bank it's not too late to get a great rate. On a home mortgage leader bank has some of the most competitive rates around. Call 8776917900. Or visit leader bank dot com for more information. Right now though we're going to our guests whose name is Jeffrey sparkle who's the winner of the trivia question the answer was. Abu Dhabi is the law devise the largest city in the United Arab Emirates but Abu Dhabi the capital. And Hanna from forcible as the teacher in him he got a promise to work to Craig Bill Beach this summer looking out aren't. Our guest is Jeffrey spark shot Wall Street Journal. He wrote an article that was posted actually yesterday. About occupational. Shortages where there's going to be a shortage of workers why he wanted to know that swell might be a good idea to tell your kids to cite a study in the east subjects. There's an appeal to make some money I Jeffrey Harry. Rory area cricket so tell us about how you reached searched the story he would. A lot of the research was done by an economist. It conference board which is business groups there's a lot of corporate research. And I tried to cut the fact check coming in look at some of the background in in what was going into this to mean a lot of which historian demographics that if you look at them. You know big hope population vote to the baby boomers and a lot of those folks are retiring now and you know a lot of it's fairly intuitive and in the data backs it up. Now how many occupations did they analyze in there when they're doing their research. They've looked at 467. Occupation groups which is kind of how the Department of Labor breaks at all. OK so if your if you've got to fifteen year old at home. In your thinking about the whole college thing or if you're dead in midlife in your thing about changing careers where do you go where are the jobs going to be. For the next twenty years. If you want fairly sure employment. I think medical fields. You know like occupational therapist. Nursing psychiatric psychiatric help home health aides not all those some of those jobs have very good wages and not all the do you want something visited. They be as good wages and and they didn't leave you little more isolated from having to work with the public as much on utility massacre. Diagnostics. If you don't wanna go to college though you can be planners systems operator there's a lot of skilled occupations it's seem to be lacking just because people. I haven't gone into them machinists and such. Yeah I didn't ask you about the trades like the I hear that that's actually pretty good wage right now. It can be yeah I mean it depends on where and whenever there's a lot of variables involved. It's you know can make it's much because of machinists and you'll just see no borrowers an engineer but but you can do fairly well here for sure construction as well. If something specialized to I think about the growth of railroads you mentioned railroad engineers you look at some of these industries that you think are not going away. There are particularly sexy but butter and neither people that you might not normally think about. Yeah exactly I mean I can't think of anyone that I went school or college political wanted to to going to be a railroad engineers is not something that people are going into it and meanwhile there's a lot of retirement so I think that that's probable part of the issue that. What other surprises did you learn when you look through the research would what types of careers are going to be lucrative. That you wouldn't expect. You know what there actually are probably kind of surprises that it depends on where you get to shortages in the news eventually lost supply and demand will Qichen and people have to pay more. I think what's really interesting too is is bill in the you can. You can offer you limitless amount of money but if they're just aren't enough workers it would appear so you have to look at alternative ways to trying to fill these jobs Stewart are more grounded and I think you know that these cancers that are going to be aside from higher wages or immigration automation and offshoring which which. Raised a lot of political questions as well. Nature does it sure does all right well thank you very much for your time Jeffrey appreciate it. Thank you the top occupations I just read down that then the top ten if you would. Occupational therapy and physical therapist assistants and aides and that's one. Mathematical science occupations. Health diagnosing and treating practitioners. Religious workers. There's always going to be a need for them right. It would I want is usually think about night I didn't think about it. Plant and system operators. Nursing psychiatric and home health aides rail transportation news or talk about that. Social scientists. And related workers with the social worker I'd I would think so compact. And other construction related workers. Again that the wages for these are gonna vary. Dramatically because the O a lot of these are our businesses that are going away net debt. And that the issue I think it's really important is when you when you consider careers. Think about what could be eliminated by technology race because that is gonna be imperiled the nice thing about most of these jobs is. You meet real people. You meet real people the health care you shooter or did he can automate religious workers. You can't ought to make social scientists. Occupational therapy physical. These are jobs that are not can be eliminated by technology that might be enhanced by technology now might be we think about construction. A lot of construction jobs are going robotics. And autumn evening again on highway crew. We used to see there in the old days in sixties and seventies how many men it would take to build a highway. You look at it now it's all done by machine it's very active viewer but you still need the workers. And these are jobs that also the factor considers what are jobs a lot of people don't thrive again. Yes like if you'll vote dirty jobs and fish right. Their jobs that are Derry that no wants to do that pay a lot you all want the bill right and their dirty. You know companies are doing it in order to attract employees is there are offering student loan repayment packages which is a brilliant. Boldness. Of your look if your kid graduating. From UConn. Right in your graduating in May. And yet the software job. So got a job he could today. He won it they're both pain eighty grand you know the ones and pay your student loans for. You take that you liked what I saw the story I thought. What I've. We did like getting that the employer to pay for my healthcare start yeah. It started a long time ago because employers realize this would be good benefit right because you have a constitutional right to employer paid doctors because it was an agree self interest to get good workers to get health care they wanted to compete. Exactly and an in and look at today. What is your biggest expense a lot of times it's college costs for a lot of kids graduating Tucker you have friends and graduate with large amounts to yeah. A large amount of I yeah my daughter has a friend undergraduate degree 100000 dollars. In the us the people most worried about health care of people each. It right 22 year old getting out of college you're careless you care you're invincible what you're gonna offer me a couple thousand dollars towards my student that. Hillary every year every year. I think on the balcony count Ian you don't know dues that'll get people to apply for that job. Regularly re improve the recruiting pool if we're seeing companies like price Waterhouse Cooper we are seeing asset management firms which work people to. Right they should pay to. Bishop issued issued by yet carving is a work eighty hour week course that work is so much you might be the health care more than you do via the student loan group. Talk please give to go to work for price Waterhouse at their yeah I mean they are that literally like. That you working. No idea it's like investment banking he talked to kids say. Graduate from college in in the go to New York to work and investment banking I did not. But the ninety hour workweek is the norm not the exception. Indy only stop doing that after we started we have reported incidents of kids committing suicide. Is that an in fairly noticeable numbers. And Bank of America recently Cubans and their program they're reducing the shape that but right now they they're still deliver these kids absolutely. His there's this peer pressure among the kids and it's competition. Your bonus right you're bonus if you if you working in New York is an investment bank your salary might be 7080 grand. Your bones might be fifty. And you can your first your bones while I try to figure out what could possibly 23 year old dude earned 50000 dollars a stubborn about the work 120 hours a week now and yes you know. Thanks for tuning into the financial exchange that was up 49 points we appreciate your participation John Moody and very Armstrong saying goodbye for today. See you tomorrow from our insurer match dot com studio.