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BOZEMAN, Mont., Oct. 12, 2020 /PRNewswire/ — XY Planning Network (XYPN), a membership organization comprised of more than 1,300 independent fee-for-service financial advisors, today announced that it will not appeal its unfavorable 2nd Circuit ruling on Regulation Best Interest, but it has engaged Duane Thompson, president and founder of Potomac Strategies LLC, an experienced industry lobbyist and fiduciary advocate, to continue its fiduciary fight at the state level. Thompson will assist XYPN in its state advocacy efforts for a fiduciary standard for all financial advice, and that the fee-for-service business model XYPN pioneered be regulated in a manner consistent with other (e.g., assets under management) fee models.
In September 2019, XY Planning Network (XYPN) co-founders Alan Moore and Michael Kitces made waves when they announced their decision to file a lawsuit against the SEC challenging the Regulation Best Interest (Reg BI) rule during the opening of their
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We live in a “monetize everything you can” culture, where a hobby can potentially turn into a million-dollar enterprise. At the very least, your hobby can become a side hustle. And I’ve found that when you work for yourself, there’s a bit of hype — and sometimes pressure — to turn fun endeavors into a money-making empire.
When I went from being a chronic side hustler to a full-time freelancer, it seemed as if all my colleagues were pouring a significant amount of resources into coaching, courses, and building fancy websites for their businesses. But in my own career, I discovered that you actually don’t really need to spend money
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Building a business is never easy, but 2020 has been a unique calamity. In the U.S., which has suffered more COVID-19 deaths than any other nation, the economy entered its worst downturn in generations. Although central bank stimulus and government programs such as the Paycheck Protection Program have helped cushion the blow, a return to growth will depend on the creativity and resilience of millions of entrepreneurs and business managers.
Lindsay Gibson, COO, TextNow
Over a decade, TextNow built its business, an app that allows users to send and receive calls and text messages for free, by hosting ads for hotels and airlines and the like. Within weeks of the COVID-19 pandemic hitting the U.S. and Canada, one-quarter of TextNow’s revenue disappeared. The company closed its Waterloo headquarters, as well as offices in Portland, Ore., and San Francisco. All employees started working from home.
Lindsay Gibson, the chief operating officer,