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What financial advisers are saying about the new bitcoin ETFs – Marketplace

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What financial advisers are saying about the new bitcoin ETFs – Marketplace

Late last week, the Securities and Exchange Commission somewhat begrudgingly approved a spot bitcoin ETFs. If you’re not up on your finance acronyms, that stands for exchange traded fund — you can think of it as a very easy way to invest in bitcoin from your brokerage account, no blockchain required. A “spot” fund invests in the asset directly, as opposed to making bets on futures contracts.

Whenever I write about bitcoin, I usually mention the price — about $42,000 right now for one — and then say something like “please consult your financial adviser” right afterward.

So in light of the news of this new route for bitcoin investment, I consulted with some financial advisers about what they’re telling their clients.

I asked certified financial planner Paul Brahim how frequently his clients ask about bitcoin.

“Yeah, it’s easier to ask if there are any clients who haven’t asked about bitcoin, right?” he said. “It’s been an ongoing dialogue since bitcoin emerged, how many years ago?”

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Brahim is a managing director at Wealth Enhancement Group. Before the spot ETFs, Brahim could kind of brush off bitcoin. He would tell clients it’s risky and unregulated, and if you lose the keys to your crypto wallet, you’ve just lost all your money.

Now he will tell clients something like, “If you want some bitcoin in your portfolio, that’s fine, let’s just make sure it’s an amount of money more appropriate for roulette than retirement.”

“Let’s put this in the casino capital category as opposed to core,” he said.

Matt Hougan at Bitwise Asset Management said he’s been getting lots of calls from financial advisers about the spot bitcoin ETF his firm launched last week. But he doesn’t expect to win over the crypto-skeptical overnight.

“They’re gonna study it for months and months and months before they tiptoe into the waters,” he said.

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Hougan said he expects adviser attitudes toward bitcoin to follow a similar trajectory to when gold first got an ETF in 2003.

“We called people who invested in gold ‘goldbugs.’ We talked about tin foil hats. They gathered in dusty convention halls off the Strip in Las Vegas to talk about this barbarous relic,” he said. “But the ETF moved that mainstream.”

Hougan said bitcoin ETFs aren’t for everybody. That may include many ESG investors — people who want to deploy capital with environmental, social and governance goals in mind.

“We’re in the Boulder, Colorado, area, so of course almost everybody is ESG investment interested,” said Dan Yerger, president of MY Wealth Planners. “That is actually a big hindrance for it.”

As of 2022, over 50% of bitcoin mining was powered by coal and gas.

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Finance

Stamford rep blasts Board of Finance for delaying creation of new police officer positions

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Stamford rep blasts Board of Finance for delaying creation of new police officer positions

Police cruisers parked in the Stamford Police Department parking lot photographed on August 7, 2024.

Arnold Gold/Hearst Connecticut Media

STAMFORD — A member of the Stamford Board of Representatives said he was “disgusted” by the city’s Board of Finance’s decision to delay a potential increase in budgeted officers for the city’s police department. 

“I’m angry,” said Sean Boeger, D-15, during the Board of Representatives’ Fiscal Committee meeting Monday. 

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Boeger is also a sergeant in the Stamford Police Department. The increase, which was on the committee’s agenda, would have created 13 more officer positions in the department. A grant would help pay for six of the 13 new positions.

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It would’ve brought the total number of officers in the patrol division from 217 to 230, resulting in a 300-person force when all other ranks are considered. In the early 2000s, the department had 314 budgeted sworn officers, according to Chief of Police Timothy Shaw.

Lou DeRubeis, Stamford’s director of public safety, health and welfare, said the proposed increase was the first “in quite a number of years.” 

The Board of Finance, however, during its Oct. 9 meeting, voted to hold the increase and asked the police department to provide more information, such as where the officers would be used and the total cost of hiring them outside of wages, such as health insurance and overtime. 

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Boeger said during Monday’s fiscal committee meeting that he believed there were four officers assigned to traffic enforcement because “patrol demand is so high.” He said the department should be able to double the number of officers for traffic enforcement, which he said was “the top gripe of our citizenry.”

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He also said the department was “lucky if we could cover the high schools when it’s busy.” 

“If we want to be responsible and we want to have the nice things that a nice city like Stamford should have…we have to do something about this,” Boeger said. 

Boeger said the department had opened up testing for new positions and that the department can’t send people to police academies, whether the city’s own or others, until the new positions are approved.

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“We’re gambling with open positions based on academy availability,” Boeger said. 

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Amiel Goldberg, D-13, said he wanted members of the committee to reach out to the Board of Finance to “let them know how deeply disappointed and frustrated our committee is.”

There had been an attempt to add the 13 police officer positions during the most recent budget process, but the Board of Finance cut the funding for those jobs. 

At that time, members of the board said to come back with the request once the department filled out the rest of their 287 budgeted officer positions. The department will reach that goal by December, Bridget Fox, chief of staff of the mayor’s office, said during the Oct. 9 meeting. 

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Shaw, in an interview before the fiscal committee meeting, said getting more people for the department would mean less people have to work overtime and because of that, less people would burn out and leave the force. Half the budgeted overtime, he said, is for the patrol division. 

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During the Oct. 9 meeting, the chief said the 13-person increase could result in a $500,000 reduction in overtime costs. 

Laura Burwick, a member of the Board of Finance, said during the Oct. 9 meeting the request of $743,941 for the new positions was “a huge additional expense to the budget” and that she wanted to “see a little bit of the analysis that went into this.”

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Geoff Alswanger, a member of the finance board, said during that meeting that there have been “many sessions” where the board had “angst at the management” of the city’s pension funds and that the board “can’t ignore that as part of this equation.” 

Boeger, however, during Monday’s meeting, said the department “has no power or control over that.” 

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Finance

Brian Bradford has been appointed SVP, Hospitality Finance at TPG Hotels & Resorts

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Brian Bradford has been appointed SVP, Hospitality Finance at TPG Hotels & Resorts

TPG Hotels & Resorts, one of the nation’s premier hospitality management firms, announced today that Brian Bradford has joined the company as Senior Vice President, Hospitality Finance. In this role, Bradford will have direct oversight and accountability for the accounting and finance function across the company’s portfolios and be based out of the national operations headquarters in McKinney, Texas.

Bradford joins TPG Hotels & Resorts from Remington Hospitality, where he served as Senior Vice President of Corporate Accounting, overseeing the accounting and treasury functions for a portfolio of more than 120 hotels. During his tenure, Bradford successfully restructured accounting operations, streamlined processes, and reduced the monthly close cycle by nine days. With extensive experience in financial management, reporting, and technical accounting across multiple industries, he brings to TPG a proven track record of driving operational efficiencies and implementing robust financial systems for large, complex organizations.

Bradford began his career in public accounting with CohnReznick LLP and has since held senior finance and accounting leadership positions with several large organizations including, CIG Logistics, Daseke, and Americold Realty Trust. He holds both a Master of Accounting and Bachelor of Science in Accounting from North Carolina State University. TPG Hotels & Resorts

TPG Hotels
McKinney, Texas
United States

Finance & AccountingMcKinneyTexasUnited States
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Finance

New Finance Models Driving Growth Across Asean

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New Finance Models Driving Growth Across Asean
At the 2025 Bloomberg Business Summit ASEAN in Kuala Lumpur, Novan Amirudin, Group CEO of CIMB, and Gabriel Ho, Managing Director at Macquarie Asset Management, discussed new strategies in blended finance, public-private partnerships, and which emerging asset classes are paving the way to unlock capital and boost infrastructure growth across the region. (Source: Bloomberg)
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