A Word From Chairman Dan Wiener on Advisers and Payroll Relief Loans

A Word From Chairman Dan Wiener on Advisers and Payroll Relief Loans

May 22, 2020

The federal government is attempting to help small businesses impacted by the pandemic by offering forgivable loans to help them cover employees’ paychecks. But we think that some registered investment advisers are taking undue advantage of the program.

At Adviser Investments we decided we couldn’t, in good conscience, be among them. Though offered more than $2 million under the program, we preferred that the government’s dollars go to small businesses struggling to get through the crisis intact, not us.

Our founder and chairman, Dan Wiener, wrote a piece for CityWire this weekend discussing our reasoning—and calling upon the rest of the advisory industry to demonstrate the same ethics and integrity with regard to their own businesses that should always guide those who claim to act as fiduciaries for their clients. Please click on the links below to read Dan’s op-ed as well as a story from Barron’s quoting him on the subject.

Dan Wiener’s CityWire Op-ed: Why RIAs Should Not Take PPP Loans

Barron’s – Should Financial Advice Firms Take PPP Loans?

About Adviser Investments

Adviser is a full-service wealth management firm, offering investment managementfinancial and tax planningmanaged individual bond portfolios, and 401(k) advisory services. We’ve been helping individuals, trusts, institutions and foundations since 1994. Adviser Investments and its subsidiaries have over 5,000 clients across the country and over $8 billion in assets under management. Our portfolios encompass actively managed funds, ETFs, socially responsible investments and tactical asset allocation strategies, and we’re experts on Fidelity and Vanguard mutual funds. We take pride in being The Adviser You Can Talk To. To see a full list of our awards and recognitions, click here, and for more information, please visit www.adviserinvestments.com or call 800-492-6868.

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