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Legal Alert Regarding The Corporate Transparency Act

Roxann Smithers of Smithers Law Group, LLC is a member of XPX Atlanta
Roxann S Smithers
Smithers Law Group, LLC
1 year ago

BENEFICIAL OWNERSHIP INFORMATION REPORTING CORPORATE TRANSPARENCY ACT SUMMARY One of the unique and often attractive features of a Limited Liability Company can be anonymity.  In most states, formation and registration of an LLC does not require disclosure of the owners or officers.  For various reasons, legitimate and not so legitimate, the owners of a business may not want to broadcast their ownership.  Whether there are genuine concerns regarding privacy and nefarious desires to avoid civil and/or criminal liability, people have availed themselves of this feature.  As such, it can be difficult to identify assets to enforce judgements or confirm net worth in the civil context.  Additionally, it can be difficult to trace financial and criminal wrongdoing to the actual bad actors. The Federal Government has decided to make things a little easier for itself by creating the Financial Crimes-Enforcement Network or FinCEN.  Try saying that five times fast!  In summary, the U.S. Treasury Department will require the vast majority of LLCs along with C and S corporations to report specific information about the business.  This will include information identifying the ownership of the company.  This is not necessarily a new thing for the shareholders of S and C corporations, but this will be a big change for the members of LLCs.   THE RUNDOWN Authority               United States Department of the Treasury Corporate Transparency Act (31 USC 5336(b)) Financial Crimes Enforcement Network (FinCEN) Rule   Deadline                  January 1, 2024-January 1, 2025 for entities formed before January 1, 2024 Within 30 days of formation for  entities formed on or after January 1, 2024   Who Must Comply   Any entity that had to file a formation document with a state authority as part of its formation or registration as a foreign entity doing business in the United States.                    YES–Corporations (C, S, B[1] and P[2]), Limited Liability Companies, Limited Partnerships, Limited Liability Partnerships[3].                    NO—Sole Proprietors, General Partnerships. Exemptions                23 Categories of Exemptions and Exceptions to the rule, including inactive entities, nonprofits, entities that are already subject to federal reporting and regulations, financial institutions, and government entities. Corporate Information       Legal Name Trade Names or D/B/A Names Address Formation State TIN/EIN Ownership Information       Beneficial Owners. Owners with at least 25% ownership or who have substantial control the company directly or indirectly. Legal Name DOB Home Address Driver’s License, State ID, or Passport Number Picture of said ID   Duty to Update          Within 30 days of any change or need to correct information.   Failure to Comply     Civil liability $500/day Criminal penalty up to $10,000 and/or 2 years in jail   THE SOLUTION Resources              FinCEN

President’s 2024 Budget Calls for National Paid Leave Program

Robert Brody of Brody and Associates, LLC is a member of XPX Tri-State
Robert G. Brody
Brody and Associates, LLC
1 year ago

By Robert G. Brody and Mark J. Taglia March 10, 2023   On Thursday, March 9th, President Biden submitted his proposed fiscal year 2024 budget request to Congress.  In it he seeks a $1.5 billion increase to the U.S. Department of Labor Budget.  Most of this increase would support the President’s paid family and medical leave initiatives. In his proposed budget, Biden seeks three months of paid leave for American workers.  The President’s stated goal is to permit Americans to take time off for a variety of reasons, including:   to bond with a new child; to care for seriously sick family members; to recover from one’s own serious health issue; and to obtain support/protection from sexual assault and violence.   The scope of coverage under this bill is not news; the fact that it would be paid is the headline. Currently, the U.S. is one of just a few highly developed countries not to provide its citizens with a paid leave program. In recent years, some states have offered paid leave of up to 12 weeks through programs which are similar to the President’s latest proposal.  Thirteen states and the District of Columbia have enacted some sort of paid family leave legislation: California, Connecticut, the District of Columbia,Massachusetts, New Jersey, New York, Rhode Island, Virginia, and Washington currently have laws in effect; Colorado, Delaware, Maryland, New Hampshire, and Oregon enacted laws not in effect yet. On Thursday the President spoke out in support of the proposed program, arguing the time has come for the U.S. to, “no longer [be] the only major economy in the world that doesn’t have paid leave.”  The proposal delivers on campaign promises made by Biden when he ran in 2020. Now the hard part, getting it by Congress. If passed, the proposal would provide paid leave access to approximately 92% of low-paid workers (predominantly women and people of color), who don’t currently have access. Experts believe it will be virtually impossible to get a 12-week paid leave program passed with a bi-partisan split in Congress. Time will tell! Brody and Associates regularly advises management on complying with the latest local, state and federal employment laws.  If we can be of assistance in this area, please contact us at info@brodyandassociates.com or 203.454.0560.  

Are Non-Competes a Thing of the Past?

Robert Brody of Brody and Associates, LLC is a member of XPX Tri-State
Robert G. Brody
Brody and Associates, LLC
1 year ago

By Robert G. Brody and Mark J. Taglia January 20, 2023 Last week the Federal Trade Commission (the “FTC”) proposed a rule banning companies from requiring workers to sign noncompete agreements.  Currently, there are about 30 million workers (roughly 18% of the U.S. workforce) who are subject to such agreements.    The FTC proposal would apply to all paid and unpaid employees, as well as independent contractors.  And would even require companies to terminate existing non-compete agreements and inform their employees that their noncompetes are no longer in effect.  This broad action essentially has no exemption. Now that you have taken a minute to let that sink in, let’s discuss.  The FTC is testing its authority to impose a blanket ban under Section 5 of the FTC Act, which prohibits unfair methods of competition.  In proposing the new rule, the FTC argues such agreements suppress wages, restrict innovation, and limit entrepreneurs from going out and starting their own businesses. Noncompetes are increasingly used across industries The FTC said in a statement released last week that “Noncompetes block workers from freely switching jobs, depriving them of higher wages and better working conditions, and depriving businesses of a talent pool that they need to build and expand.” Initially noncompetes were designed to restrict highly compensated professionals in finance and technology, but they are now being used across all industries, including minimum wage service employees. An Obama-era joint-study from the White House and Treasury found in 2016 that 15% of workers (without a college degree) and 14% of workers earning less than $40,000 were subject to noncompete agreements. The counterargument to the FTC’s actions is that when properly used noncompete agreements can preserve competition and foster innovation. Without their protection, new ideas are too easily stolen to justify the time it takes to bring them to life. What employers should do now Companies should take this opportunity to assess where they stand on this issue.  If they feel strongly about the negative impact such a band would have on their business, they should submit a comment to the FTC during its 60-day comment period. Alternatively, support an employer group that will speak out for you. The FTC open comment period runs through March 10 and the FTC is obligated to review each submission and consider changes based on the feedback provided. Additionally, businesses should consider how such a ban may impact their business and evaluate if there are other mechanisms that could accomplish similar goals. For example, could you use non-solicit and non-disclosure agreements. In fact, should you have those agreements in place already? Or consider a contractual incentive to retain talent. This is particularly helpful if retaining talent is the issue and not losing intellectual property. Scholars question whether Congress ever intended to delegate such broad sweeping authority to the FTC. Thus, you should expect several more hurdles before the new rules are implemented, including litigation up to the Supreme Court, which would delay implementation for years. And if this happens, we might have a new Administration before all the hurdles are cleared in which case, the FTC could be ordered to reverse directions and rescind the rule. While few believe a full blown noncompete ban will be in place any time soon, momentum is building not just at the federal level, but at the state level, too.  Whatever happens next with the FTC proposal, we can expect this trend to continue. Brody and Associates regularly advises management on complying with the latest local, state and federal employment laws.  If we can be of assistance in this area, please contact us at  info@brodyandassociates.com or 203.454.0560.

It’s that Time of Year – Unpaid Internships: Know the Law

Robert Brody of Brody and Associates, LLC is a member of XPX Tri-State
Robert G. Brody
Brody and Associates, LLC
2 years ago

By Robert G. Brody and Mark J. Taglia July 5, 2022 Summer is just beginning and so are summer internships. Many of our clients are using interns for the first time since the Summer of 2019 – pre-pandemic. While doing so, it’s important for employers to comply with the Fair Labor Standards Act (the “FLSA”) to make sure their unpaid internship programs and their unpaid interns meet all the necessary criteria under the law.  The FLSA is the federal law that covers minimum wage, overtime pay, recordkeeping, and youth employment. For unpaid internships, the FLSA demands six requirements.  This applies all 50 states.  Additionally, New York state imposes an additional five requirements that also must be met in order to satisfy internship laws for For-Profit companies in New York.  These eleven factors are set forth below (a more detailed description of these factors can be found on the New York State Department of Labor website (click here)): The intern’s training is similar to training provided in an educational program. The intern’s training is for the benefit of the intern. The intern does not displace regular employees and works under close supervision. The activities of the intern do not provide an immediate advantage to the employer. On occasion, operations may actually be impeded. The interns are not entitled to a job at the conclusion of the training period and are free to take jobs elsewhere in the same field. The internship runs for a fixed period, set before the internship begins. The interns are notified, in writing, that they will not receive any wages and are not considered employees for minimum wage purposes. Such written notice must be clear and be given to the interns before the internship or traineeship starts. Any clinical training is performed under the supervision and direction of people who are knowledgeable and experienced in the activity. The interns do not receive employee benefits. The training is general and qualifies interns to work in any similar business. It is not designed specifically for a job with the employer that offers the program. The screening process for the internship program is not the same as for employment and does not appear to be for that purpose. The screening only uses criteria relevant for admission to an independent educational program. Advertisements, postings, or solicitations for the program clearly discuss education or training, rather than employment, although employers may indicate that qualified graduates may be considered for employment. *Note: These are the requirements for unpaid internships in New York at For-Profit companies.  Laws for Non-Profit companies and companies in other states may and will vary. While hiring unpaid interns should never be considered a money maker, failing to comply with the FLSA (and other applicable federal and state laws) can be a huge money loser!  Be careful in how you structure and conduct your unpaid internship to ensure you stay on the right side of the law. Brody and Associates regularly advises management on complying with state and federal employment laws including wage and hour laws.  If we can be of assistance in this area, please contact us at info@brodyandassociates.com or 203.965.0560.

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The Science That Transforms Your Timeline for Growth and Exit

Maria Forbes of FIREPOWER Business Catalyst, LLC. is a member of XPX Atlanta
Maria C Forbes
FIREPOWER Business Catalyst, LLC.
6 hours ago

How would it feel to shorten the time to productivity? Why does someone need to do their job the way they do? How can people become productive faster? Introduction: As a small business owner, you wear many hats. You’re the visionary, the marketer, the accountant, and often, the HR department. However, having the right people in the right roles is key to your success. It’s not just about filling seats; it’s about aligning talent with the demands of each department. This is where Kolbe comes in – a powerful tool that can help you unlock your team’s natural strengths and optimize your business’s performance. The Problem: Mismatched Skills and Frustration We’ve all seen a detail-oriented person struggling in a fast-paced, idea-generating role or a creative mind bogged down by rigid processes. Mismatches like these lead to frustration, decreased productivity, and, ultimately, higher turnover. This is especially damaging in a small business where every team member’s contribution is crucial. You might be tempted to use traditional methods, like resumes or personality tests. While these have their place, they don’t always get to the heart of how someone naturally gets things done – the key information the Kolbe A™ Index provides. Enter the Kolbe A™ Index: Understanding Your Team’s Conative Strengths The Kolbe A™ Index isn’t about measuring intelligence or personality. It measures a person’s conative strengths – their instinctive method of taking problem-solving action and getting things done. It reveals how they prefer to: Fact Finder: Do they need to gather data or rely on intuition? Follow Through: Are they good at meticulously executing plans, or are they more adept at improvising? Quick Start: Do they prefer to start new processes or refine existing ones? Implementor: Are they good at taking something complex and making it simple, or are they adept at handling intricate details? The Kolbe Index places you on a spectrum for each mode of action and gives you a number (ranging from 1-10) for how you naturally prefer to act within each mode. Map Roles to Kolbe Strengths: Now it’s time to analyze the demands of each department and role within your business. For instance: Marketing: You might look for individuals with high “Initiator” and “Fact Finder” scores. Operations/Production: This might be an area for those with a stronger “Follow Through” style. Sales: Those with a strong mix of “Initiator” and “Implementor” could excel here. Accounting/Finance: Look for those with a high “Follow Through” preference and a strong preference for “Fact Finder”. Open the Dialogue: Have open and honest conversations with your team. Share their Kolbe results (with their permission) and discuss how their strengths align (or don’t align) with their current role. Make Strategic Adjustments: Consider making adjustments based on the Kolbe results and those conversations. This might mean moving someone to a different department, shifting responsibilities within a team, or modifying a team member’s workflow to better utilize their strengths. It’s critical to remember that this is not a tool to punish or demean anyone but to place them in their best role, where they can thrive. Embrace Team Diversity: Each Kolbe profile offers unique strengths and values. A team of people working in the exact same way is not as effective as a team that balances diverse strengths. Benefits of Using Kolbe in Your Small Business: Increased Productivity: People who work within their natural strengths are more efficient and engaged. Reduced Frustration: Fewer mismatches mean less frustration, which leads to improved morale. Lower Turnover: Happier employees are less likely to leave. Improved Team Collaboration: When people understand how their teammates approach work, they can collaborate more effectively. Enhanced Problem Solving: A well-balanced team with diverse Kolbe profiles can tackle challenges more creatively. Better Decision-Making: Understanding the different ways each person naturally approaches a problem can lead to better decision-making in the long run. Rethink your Growth and Exit Planning: As a small business owner, you’re constantly looking for ways to optimize your operations and create a thriving work environment. Using Kolbe is not about forcing square pegs into round holes. It is about understanding the natural approach of your team and putting everyone in a place where they can thrive. Investing time and resources to understand your team’s conative strengths will pay dividends in increased productivity, happier employees, and, ultimately, a more successful business. So, take the first step, explore the power of Kolbe, and watch your team’s potential flourish. Call to Action: Are you ready to understand the power of your team’s strengths? It is important to have a Certified Kolbe Consultant guide you on how to use this data to attract, engage, and develop your team so you can grow and exit on your terms.

Stop Paying a Premium for Terrible Investment Management and Start Paying a Premium for Planning that Delivers Massive Value

Billy Amberg of Bloomwood is a member of XPX Atlanta
Billy Amberg
Bloomwood
2 days ago

Listen to this post as a podcast: Click here to talk to Bloomwood about your finances. Are you ready to take control of your finances and maximize your after-tax income? If so, you’re in the right place. I’m Billy Amberg, founder of Bloomwood, and today, we’re going to explore a financial case study that affects everyone—whether you’re just starting out on your wealth-building journey or you’re a seasoned investor with substantial assets. The 1% Financial Advisor Fee: Is It Worth It? The financial advisory and wealth management industry invests massive marketing dollars to convince you that paying a 1% portfolio management fee is worthwhile. But is it really? Let’s break it down. For those with financial advisors who provide significant value through tax planning, estate planning, and comprehensive financial strategies, paying 1% can be justified. If you have a complex trust or unique investment needs, that fee might also make sense. However, if your advisor is merely managing your portfolio, responding to your questions reactively, and failing to offer proactive financial planning, then you are overpaying. Many advisors hold periodic meetings about investments, but that alone doesn’t justify the 1% fee. Why Paying 1% for Just Investment Management Is Too Much To understand why paying 1% for basic investment management isn’t worth it, we must first explore key investment principles. One of the best ways to structure your investments is by using the Three Buckets Approach: Cash Reserve Bucket: This is your safety net, typically covering 6 to 12 months of living expenses in case of an emergency. It also provides liquidity for investment opportunities, such as purchasing real estate. Fixed Income Bucket: If you need stable income to support your lifestyle, especially in retirement, this bucket consists of low-risk investments like bonds, ensuring steady cash flow. Long-Term Growth Bucket: Everything else belongs here. This is where equities and growth-focused investments come into play, aligning with long-term wealth accumulation. Understanding Risk Tolerance and Why It Matters Less Than You Think Many investors are familiar with risk tolerance questionnaires used by financial advisors or platforms like Vanguard. While these assessments provide insight into your comfort level with risk, they are not the ultimate determinant of investment strategy. For example, a young professional with limited financial resources who fears market volatility might lean toward ultra-conservative investments. However, avoiding equity exposure could mean they never accumulate enough wealth to retire. An advisor’s role should be to educate and coach clients through investment realities rather than just accommodating risk aversion. Why Beating the Market Is Nearly Impossible Many financial advisors attempt to justify their fees by claiming they can outperform the market. However, history shows that even professional fund managers struggle to consistently beat benchmark indices like the S&P 500. Consider this: The NASDAQ (Technology Index) has significantly outperformed the S&P 500 in recent years. The S&P 500 itself remains a difficult benchmark to beat even for top-tier investment professionals. The only funds consistently outperforming the market are quantitative hedge funds like D.E. Shaw, Citadel, and Two Sigma—which charge exorbitant fees and require massive investment minimums. If professional fund managers can’t consistently beat the market, how can an individual financial advisor do so? The answer is simple: they can’t. The True Cost of Active Management vs. Index Funds Rather than paying a financial advisor 1% to actively manage investments, many investors can achieve better results with low-cost index funds. Vanguard, for instance, offers index funds with fees as low as 0.05% per year. Additionally, for just 0.30%, you can get a Certified Financial Planner (CFP) through Vanguard, which is more than a third cheaper than the typical advisor fee. How to Determine If Your Advisor Provides Real Value Before you continue paying a 1% management fee, ask yourself: Is my advisor providing value beyond just investment management? Am I receiving proactive tax planning, estate planning, and financial strategy sessions? Can my advisor point to tangible financial benefits I’ve received beyond portfolio returns? If your advisor’s only contribution is managing your portfolio, you are likely paying for underperformance. Paying 1% for an actively managed fund that fails to beat the market is counterproductive when low-cost index funds offer superior long-term results. The Bottom Line: Are You Getting a Fair Deal? If you’re paying 1% for asset management, it should come with significant added value, including tax planning, estate planning, and personalized financial strategy. At Bloomwood, we focus on delivering real, tangible benefits beyond just managing investments. If you want to learn more about investing and getting massive value through financial planning, check out our other content: Kickstart Your New Year with Smart Financial Planning: A Comprehensive Guide Tax Planning: How Buying Tax Credits Can Cut Your Tax Bill and Boost Profits Disclosures Bloomwood does not make any representations as to the accuracy, timeliness, suitability, or completeness of any information prepared by any unaffiliated third party, whether linked to or incorporated herein. All such information is provided solely for convenience purposes and all users thereof should be guided accordingly. We are neither your attorneys nor your accountants and no portion of this material should be interpreted by you as legal, accounting, or tax advice. We recommend that you seek the advice of a qualified attorney and accountant. For additional information about Bloomwood, please request our disclosure brochure as set forth on Form ADV using the contact information set forth herein, or refer to the Investment Adviser Public Disclosure website (

Life After the Sale

Michelle Fritsch of Retirement Wellness Strategies is a member of XPX Charlotte
Michelle Fritsch
Retirement Wellness Strategies
2 days ago

We know that a way higher-than-acceptable percent of those who sell their company have many regrets a year later.  A piece of that is how well did they plan life beyond the sale?  Purpose is a huge part of that, and we have many XPX members who are retirement coaches and help people plan for purpose.  That is incredibly important. And there is so much more.  How is that person going to thoughtfully, proactively remain healthy, minimize their health-related risk factors, stay mentally sharp, have a robust social network since so much of their current social network is wrapped up with the business, partners, clients, etc. And then what about knowing when and how to include family members so that inevitable changes in the future are fully planned?  We have XPX members who plan the financial, the estate, the insurance pieces which are all important.  There is a much deeper personal side that is rarely planned and leaves families not knowing what to do when a crisis happens, health declines, a spouse is lost, or other unexpected events. All of this can be planned, and when it is, the future is brighter and more secure. Selling the business just opens the door to new phases of life that are just as fulfilling and engage those prior business owners in new ways to engage with their community, their family, and their unique interests. Purpose is not busy-ness.  In a future article we will talk about how very important that differentiation is.

The Future of Quantum Computing and AI: A Powerful Partnership

Billy Amberg of Bloomwood is a member of XPX Atlanta
Billy Amberg
Bloomwood
1 week ago

Listen to this post as a podcast: Click here to talk to Bloomwood about your finances.   Quantum computing and artificial intelligence (AI) are two transformative technologies that have the potential to reshape industries and solve some of the world’s most complex challenges. Together, they form a dynamic duo capable of driving breakthroughs in fields ranging from healthcare to manufacturing. In this post, we’ll explore the synergy between quantum computing and AI, the challenges involved, and the exciting future ahead. What is Quantum Computing? Quantum computing offers the potential to solve problems that classical computers struggle with, such as those in drug discovery and material science. Quantum computers operate using quantum bits, or qubits, which can exist in multiple states simultaneously (superposition). This ability to represent both 0 and 1 at once allows quantum computers to solve problems much faster than classical systems. How AI is Transforming Industries Artificial intelligence, particularly machine learning, is already transforming industries such as healthcare, finance, and defense. By analyzing large datasets and making predictions based on that information, AI systems are helping organizations make more informed decisions and predictions. In fields like healthcare, AI is improving diagnostics, personalizing treatment plans, and advancing medical research. In finance, AI-powered algorithms are being used for fraud detection, risk assessment, and market prediction. The Challenges of Building Stable Quantum Computers Despite its potential, building stable quantum computers remains a significant challenge. Quantum states are incredibly fragile, and any disturbance can cause errors in calculations. This makes developing reliable quantum computers a difficult task. Furthermore, quantum encryption is a concern, as quantum computers could eventually break current encryption methods. Researchers are already working on developing quantum-resistant encryption to address these challenges. The Rise of Quantum Sensing Quantum technology is not limited to computing. Quantum sensing is emerging as a powerful tool for detecting small changes in physical properties such as magnetic fields, gravity, and time. This could lead to breakthroughs in medical imaging, environmental monitoring, and navigation, with applications in everything from precision healthcare to transportation. The Economic Impact and Job Creation The growth of the quantum and AI industries is expected to generate over $1 trillion by 2035, creating hundreds of thousands of jobs across various sectors. By 2030, it is predicted that 250,000 jobs will be created in the quantum sector, with that number rising to 840,000 by 2035. These technologies will not only fuel economic growth but also provide opportunities for innovation and creativity across a range of industries. How Companies Can Capitalize on Quantum and AI Advancements Companies looking to thrive in the quantum and AI space must: Adopt early: Be early adopters of quantum and AI technologies to establish themselves as leaders. Create value: Apply these technologies in ways that solve real-world problems in industries like healthcare, finance, and manufacturing. Innovate rapidly: Keep pace with technological advancements and remain adaptable in a fast-moving market. Invest in infrastructure: Have the financial strength to fund R&D and build the necessary infrastructure. Leverage marketing: Effectively communicate innovations to the public and industry stakeholders.   Key Companies to Watch in the Quantum and AI Space Tech Giants Leading the Way Companies like IBM, Microsoft, Apple, Amazon, and Nvidia are heavily investing in quantum computing and AI technologies. These tech giants are positioning themselves for long-term leadership by developing cutting-edge solutions and forging strategic partnerships in the space. Industry Disruptors Smaller companies like Square, Chime, Clario, and Anduril Industries are harnessing AI and quantum technologies in unique and innovative ways. Particularly in finance, healthcare, and defense, these disruptors are pushing the envelope on what’s possible with these technologies. Innovations in Telecommunications and Manufacturing Telecommunications: The Future of Quantum Communication In telecommunications, BT is exploring quantum communication to enhance the security and efficiency of digital networks. IQ Go is leveraging AI to improve network management, optimizing resource allocation and improving network reliability. Manufacturing: Virtual Models for Optimization In manufacturing, companies like Forge are using AI to create virtual models of manufacturing processes. This allows them to simulate, optimize, and improve production lines with digital twin technology, resulting in greater efficiency and cost savings. Democratization of Quantum and AI Technologies One of the most exciting developments in the quantum and AI space is the democratization of these technologies. Cloud-based services now allow small businesses to access powerful quantum and AI tools without needing their own hardware. This mirrors the early days of the internet when once-exclusive technologies became available to the broader public, sparking innovation across industries. Quantum Startups Making Waves Several startups are making significant contributions to quantum computing. For instance: Reggetti Computing combines quantum and classical computing in a hybrid approach to enhance performance. IonQ is pushing the boundaries of quantum computing with trapped ions as qubits, offering high fidelity and long coherence times. Zapata Computing provides platforms for quantum algorithm development, making quantum computing more accessible to those without deep expertise in the field. Key Concepts in Quantum Computing To fully appreciate the potential of quantum computing, it’s essential to understand some key concepts: Superposition: Qubits can exist in multiple states simultaneously, allowing for parallel computations. Entanglement: A quantum phenomenon where qubits are linked, enabling instantaneous communication and increasing computational power. Fidelity: The accuracy with which qubits can be manipulated. Coherence Time: The duration for which a qubit can maintain its quantum state before it decays. Will Quantum Computers Replace Classical Computers? While quantum computers are powerful, they are not meant to replace classical computers. Instead, they are designed to tackle problems that classical systems cannot handle, such as complex simulations and optimization tasks. The future will likely see a hybrid approach where both types of computers complement each other, each playing to its strengths. Responsible AI Development As AI continues to evolve, it’s crucial that we develop it responsibly. This means addressing issues like bias, transparency, and accountability. For example, if an AI system is trained on biased data, it may perpetuate and even amplify those biases in its decision-making. In fields like healthcare and finance, transparency is essential. We must ensure that AI decisions are understandable and explainable, particularly when they have a direct impact on people’s lives. Similarly, accountability is key: if an AI system causes harm, we need to determine who is responsible. The Future of AI and Quantum Computing As we look ahead, the future of AI and quantum computing is filled with possibilities. These technologies have the power to revolutionize industries, create new economic opportunities, and solve some of humanity’s most pressing challenges. But with great power comes great responsibility. We must ensure that these advancements are used ethically and transparently to benefit society as a whole. The quantum era is here, and it’s full of opportunity. Whether through AI’s ability to enhance communication or quantum computing’s ability to solve complex problems, these technologies are set to transform our world. Check out our other recent article on investing in quantum computing! www.adviserinfo.sec.gov). Please read the disclosure statement carefully before you engage our firm for advisory services. The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor’s particular investment objectives, strategies, tax status or investment horizon. You should consult your attorney or tax advisor.   The views expressed in this commentary are subject to change based on the market and other conditions. These documents may contain certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected. Any projections, market outlooks, or estimates are based upon certain assumptions and should not be construed as indicative of actual events that will occur.    All information has been obtained from sources believed to be reliable, but its accuracy is not guaranteed.  There is no representation or warranty as to the current accuracy, reliability, or completeness of, nor liability for, decisions based on such information and it should not be relied on as such. Bloomwood is a registered investment advisor. Advisory services are only offered to clients or prospective clients where Bloomwood and its representatives are properly licensed or exempt from licensure. 730 Starlight Lane, Atlanta, GA 30342.

How to Post a Photo and Company Logo to Your Member Profile: A Step-by-Step Guide

Cheryl Centeno of XPX Global is a member of XPX
Cheryl Centeno
XPX Global
2 weeks ago

Enhance your member profile by adding a photo and your company logo! It’s a great way to personalize your presence and showcase your organization. Follow these simple steps to update your profile: 1. Log In to Your Account First, make sure you’re logged in to your member account by going to www.exitplanningexchange.com and clicking on the Log In button on the top right-hand corner of the page. Remember to use the email address associated with your member profile as your username. 2. Go to Your Profile Once logged in, navigate to your member profile. You can usually find this by clicking on your profile picture or your name at the top of the page. 3. Select “Edit Photo” Look for the “Edit Photo” button—typically located near the top of your member profile’s dropdown menu (photo below). Click on it to upload or update your high-res photo.

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