RIAs to Return PPP Loans | Adviser Investments

It’s Time for RIAs to Return Their PPP Loans

The pandemic has been hard on all of us. But that’s no excuse for any person or business with the resources to get through this crisis on their own to exploit the aid being made available for those who can’t.

Our founder, Chairman Daniel Wiener, has been an outspoken critic of those in the advisory industry who’ve applied for unneeded federal Paycheck Protection Plan loans—and now he’s calling on advisers who have taken them to pay them back. After all, if there’s anyone who should have the foresight and risk-awareness to prepare for and endure a recession or a stock market drop, it’s the professionals you’re paying to manage your money.

Click here to read Dan Wiener’s latest op-ed for CityWire on why advisers should pay back their PPP loans.

This material is distributed with permission from CityWire USA and is intended for informational purposes only. The ideas and opinions contained herein should not be viewed as recommendations or personal investment advice. Any data and other information contained in this report was obtained from what we believe to be reliable sources; however, their accuracy, completeness or reliability cannot be guaranteed. Our firm was approved for a loan under the Payroll Protection Program, but ultimately decided not to accept any loans through this program.