The Takeaway: Client acquisition costs the silent killer

Portfolio

Huge NFP report, way ahead of expectations and nicely composed beneath the headline number. (Calculated Risk)

Offshore corporate cash hoard hits $183 billion! But let’s not change any tax laws to get that back here or anything… (Bloomberg)

The Biz

Goldman Sachs and Morgan Stanley were both at the bottom of the new stress tests…what up with that? (CNBC Net Net)

Testing two retirement truisms. (WealthManagement)

Customer acquisition cost is the silent killer for advisory practices. (Blueleaf)

Q: After death, can bill collectors come after 401(k) assets? (Brightscope)

The 10 most important figures in the RIA business, part I. (RIABiz)

Outliers

And right on time, Americans are back to gorging on credit card debt again. (24/7 Wall Street)

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Disclaimer: Joshua Brown is an investment advisor representative with Fusion Analytics. The content above is for informational purposes only, nothing here should ever be construed as investment advice or a solicitation to trade any securities. Mr. Brown or his firm may be long or short securities mentioned above for client or personal accounts at any time.