Layoffs Get Me Thinking

Throughout the entire pandemic, executives from the CEO on down to my boss have assured us that they planned no layoffs for our company. Our clients are advisory firms that mostly charge based on assets under management (AUM). Although millions of people are experiencing desperate financial straits, the fortunate tiny percentage of people who have investment accounts have (after a not-unexpected plummet early in the pandemic) enjoyed shockingly good market returns, which means their assets have grown — and, accordingly, so have their AUM-based advisory fees. When financial advisors make money, they can pay the annual subscription cost for my company’s software. Which all means that I get to keep exchanging my writing ability for a steady paycheck. Continue Reading >>