“Tesla had a banner year in 2020 … but the company did not provide a 401(k) match to its employees.”
Source: InvestmentNews, Feb. 9
“Tesla announced in an SEC filing Monday that it has bought $1.5 billion worth of bitcoin.”
Source: CNBC, Feb. 8
Elon Musk has skills that deserve esteem. In Tesla Inc., he has guided a brand that has created numerous jobs and become synonymous with launching a company that has filled a void in space. He has done well, and he’s done so in the manner of an iconoclast, breaking norms and established precedents.
This quality has served him well to date. Agree with it or not, his unique style has worked for his shareholders and supporters.
However, the decisions represented in the two quotes above indicate he’s picked the wrong idol to smash.
It’s widely accepted, because it’s true, that retirement planning lags significantly for most American workers. And it’s just as widely accepted, because it’s also true, that companies that commit to their employees engender long-term success. When a company has had the level of success Tesla has achieved, and it has the chance to commit $1.5 billion to an investment, the choice between an investment in bitcoin and in the staff ought to be easy.
Alas, in this case, whether through hubris or a simple lack of care, Musk and Tesla chose the wrong history to buck.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
New Treasury and IRS proposals would let employers add tax-free payroll contributions to the retirement accounts as advisors weigh the fit for client families.
The Atlanta-based RIA has now completed nine acquisitions in 2026, with six of those coming from Commonwealth Financial Network's former advisor base.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
