New Hires/Promotions in the Leasing Business
and Related Industries

Ashley Cove was promoted as Credit Manager, Bodkin Leasing Corporation, Calgary, Alberta, Canada. She joined Bodkin  as Credit Coordinator, October, 2014, promoted Credit Analyst, June, 2018, promoted Senior Credit Analyst (October 2023 - November, 2024); Credit Analyst, Westburn (May, 2012 - October, 2014). Full Bio:
https://www.linkedin.com/in/ashley-cove-319b8525a/details/experience/
https://www.linkedin.com/in/ashley-cove-319b8525a/

Michael Laufer was hired as ISO Relations, Green Point Advance, New York, New York. Previously, he was ISO Relations, Aventus Fund (September, 2024 - November, 2024); Funding Specialist, Pinnacle Advances, 2024.
https://www.linkedin.com/in/michael-laufer-81b726303/

Torre Montez was hired as Senior Vice President, Vendor Sales, West Region at SLR Equipment Finance. St. George, Utah. Previously, he was Regional Sales Manager, Equify Financial (March, 2024 - October, 2024); Senior Account Manager, Amur (July, 2023 - March, 2024); Senior Sales Manager, Transportation & Construction, Tandem Finance (January, 2021 - June, 2023); Vice President of Sales, Centra Funding (July, 2020 - February, 2021). Full Bio:
https://www.linkedin.com/in/mrgetthejobdone/details/experience/
https://www.linkedin.com/in/mrgetthejobdone/

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California 2025 Renewal
Program for Broker-Dealers
Other States too

Monday 11/11/24 – Preliminary Renewal Statements are available through E-Bill on FINRA.
Monday 11/25/24 – DFPI Reminder Emails will be sent to all licensees to renew their license for the calendar year 2025. Licensees should ensure they have an active designated email address on file with the Department. Please refer to the “For Broker-Dealers” and “For Investment Advisers” sections on the Broker-Dealer Investment Adviser page for more information about the designated email requirements.
Monday 12/9/24 – Renewal Payment Due Date. This is the deadline for receipt of Preliminary Renewal Statement payments. Review the Renewal Program Payment Options for detailed information. FINRA recommends using E-Bill to pay your Preliminary Statement. If you use other means, submit your payment with additional time to sufficiently allow for mail delivery and/or payment processing to post to your Renewal Account by the deadline. FINRA-registered firms that do not have payment posted by the deadline may be assessed a Renewal Late Fee.
Thursday 12/26/24 – Last Day to submit form filings prior to year-end. Web CRD and IARD are available from 5 AM until 6 PM Eastern Time (ET).
• Effective May 1, 2024, each investment adviser representative with a full year of registration must annually complete 12 credits of continuing education (six credits of Products and Practice and six credits of Ethics and Professional Responsibility). The continuing education must be completed by the representative and reported by the approved course provider before IARD shuts down for the year on Dec. 26, 2024, at 6:00 pm E.T.

Other States Have Similar Time Tables:

• Virginia sales-based financing disclosure law – Went into effect July 1, 2022
• California commercial financing disclosures – Went into effect December 9, 2022
• Utah commercial financing disclosures – Went into effect January 1, 2023
• Florida disclosure law and broker law  -  Went into effect July 1, 2023
• New York commercial financing disclosure law – Went into effect August 1, 2023
• Connecticut commercial financing disclosure law – Went into effect January 1, 2024
• Georgia commercial financing disclosure law – Went into effect January 1, 2024
• Kansas Commercial Financing disclosure law - Went into effect July 1, 2024

Six States Reintroduce Commercial Disclosure Financing Bills

• North Carolina – Small Business Truth in Financing Act
• Missouri – Commercial Financing Disclosure Law
• New Jersey – An Act concerning commercial financing
• Illinois – Small Business Truth in Lending Act
• California – Commercial Financing Bill
• New York – An Act to amend the banking law and the administrative code of the city of New York, in relation to regulating commercial finance licensing

ELFA Interactive State Map to Track Financial Disclosure Regulation Activity
Free to Non-Members --- PDF Required
https://www.elfaonline.org/advocacy/state-issues/lenders-license

Why You Should Not Ignore Disclosure Laws
https://leasingnews.org/archives/Jul2024/07_15.htm#why

Illinois Disclosure, Licensing, and Database Bills
 A significant shift in the state's financial landscape
https://leasingnews.org/archives/Jun2024/06_28.htm#ill

A State-by-State Analysis of License Requirements for Lenders and Broker
https://leasingnews.org/Pages/states_license.html

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Leasing and Finance Industry Help Wanted
Excellent Compensation/Marketing Support

Hope You Had a Happy Thanksgiving
and Remembered All You Have
by Scott Wheeler, CLFP

Professionals in the finance and leasing industry have many to thank for our success. We stand upon the shoulders of others so that we may see opportunity and capture success. It is those who support us that allow true professionals to shine and prosper. Exceptional personal performance is a result of leadership, knowledge, perseverance, and humility. We become successful because of our personal efforts, our ability and willingness to learn, and our willingness to serve others.

• Parents who encourage us to succeed
• A college professor who inspired us to learn
• The first boss who took us under their wing
• A loving spouse who gives us confidence
• A mentor who instills integrity and direction
• A child who teaches us "WHY"
• A staff member who goes the extra mile
• A best friend who lends an ear and shoulder
• A customer who confirms the power of value over price
• Our professional teams that celebrate success
• A stranger who asks for our help.

We are truly blessed. Give thanks to those who have supported you by giving to those who need support. Provide your broad shoulders so that others may see the opportunity and capture their success. The greatest gift is the ability and willingness to "GIVE."

--------

Please take part in our Annual Survey. For nine years, Wheeler Business Consulting has facilitated an annual survey of originators' production numbers and incomes. The survey results are shared on the website and through a monthly newsletter.

Start the survey by

CLICKING HERE
https://www.surveymonkey.com/r/3SYMT53

Scott A. Wheeler, CLFP
Wheeler Business Consulting
1314 Marquis Ct.
Fallston, Maryland 21047
Phone: 410 877 0428
Fax: 410 877 8161
Email: scott@wheelerbusinessconsulting.com
Web: www.wheelerbusinessconsulting.com

 

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Certified Leasing and Finance Professional Foundation
Recognizes Contributions by Committee Members

"We want to recognize the outstanding contributions of our CLFP committee members this past year. Representing companies and CLFPs nationwide, their efforts have driven important initiatives forward and strengthened our mission each day. Thank you, committee members, for your dedication and impact throughout the year - we couldn't do it without you all!"

Source: Linkedin

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2025 Commercial Finance/Leasing Finance
Conferences and Forums

Feb. 20 DeBanked, Miami, Florida

February 23-25 ELFA Equipment Management Conference and Exhibition
Las Vegas, Nevada

March 4-March 6 Funders Forum & Broker Expo,
Hollywood, Florida

March 11-13 National Equipment Finance Association Spring Conference,
Oni, La Costa Resort & Spa, Carlsbad, California
https://www.nefassociation.org/event/2025-spring-conference/

April 9–10 NVLA Conference
Clearwater Beach, Florida

April 9-April 11 AACFB Annual Conference,
Las Vegas, Nevada

April 15-17 ELFA National Funding Conference
Chicago, Illinois

October 14-16 National Equipment Finance Association Fall Conference
Renaissance Minneapolis Hotel, Minneapolis, Minnesota - Save the Date

October 26-28 ELFA 64th Annual Convention
Marco Island, Florida

To be listed or update: kitmenkin@leasingnews.org

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Ranked: The World's 30 Largest Exporters
Which countries ship the most goods abroad?

As protectionism continues to rise around the world, global trade flows are adapting.

Despite facing a wave of tariffs, China’s goods exports show resilience. In 2023, China’s export volumes neared all-time highs as the price of its manufactured exports fell 10%, on average. Overall, the world’s largest exporter delivered $500 billion in goods to America last year but this could drastically change under the Trump administration.

Last year, global exports of goods totaled $23.8 trillion, declining by 5% compared to 2022.

Overall, the dollar value of exports dropped across 20 of the top 30 largest exporters in the world as the number of trade restrictions rose to almost 3,000 worldwide—approximately fivefold levels seen in 2015.

In 2023, the U.S. achieved a $65 billion net energy surplus, strengthening its trade balance. A significant rise in domestic energy production has shielded the nation from oil price shocks like those triggered by the Russia-Ukraine war, which severely impacted European economies.

Germany, the third-largest overall, saw goods exports increase by a slight 1%, even as the economy was contracting. The industrial-heavy economy was particularly hit by rising oil prices as several firms paused production due to the spike in energy prices. In 2023, the country exported $160 billion in goods to America, its largest export market.

The last time America was the world’s top exporter was in 1979, but since then it has experienced a widening trade deficit. However, energy exports, America’s top export, have largely shifted from a deficit to a surplus over the past decade.

In 2023, the U.S. achieved a $65 billion net energy surplus, strengthening its trade balance. A significant rise in domestic energy production has shielded the nation from oil price shocks, like those trig

However, exports to the U.S. could decline as much as 15% if Trump’s proposed tariffs come into effect. The automotive and pharmaceutical sectors would be hit the hardest, declining 32% and 35%, respectively.

Source:  https://www.visualcapitalist.com/the-worlds-largest-exporters-of-goods

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Only community banks and credit unions that provide
self-investing will survive
By Dr. Dan Geller

An astonishing 764 (14%) community banks and 775 (15%) credit unions vanished in the past 5 years (Q2-2019 to Q2-2024), based on data from the FDIC and NCUA. A total of 1,539 community-based banking institutions disappeared because they ignored a major shift in behavioral finance in the past 5 years.

Community banks and credit unions failed to recognize a significant shift from advisory investing to self-investing, much like the shift from using a travel agent to book your trip to doing it directly online. According to Reuters, there are over 100 million self-investing accounts at the 6 largest investment platforms alone. This growing number of self-investing individuals bypass investment advisors and invest directly on the platform.

The significant shift from advisory investing to self-investing adversely impacted community banks and credit unions because they are not equipped to provide self-investing services. Conversely, national banks have this capability through their in-house brokerage firm. A case in point is Chase Bank, which offers self-investing services through its J.P. Morgan investing platform.

Some community banks and credit unions offer Wealth Management services through their in-house investment advisors but this initiative is ineffective because self-investors do not use intermediaries, such as investment advisors, and are opposed to paying fees and commissions for something they can do on their own using a scientific and proven model.

National banks are using self-investing services to lure deposit money and customers from community-based banking institutions. According to the Federal Reserve, the amount of money sitting in Money Market Funds of brokerage firms have grown from $3.5 trillion in Q2 2019 to over $6.5 trillion today. This amount is likely to increase as more investors are choosing to invest directly and avoid advisory fees and commissions.

Recent advancement in behavioral economics and finance opened the door for community banks and credit unions to provide self-investing program. The most significant scientific finding was that the Money Anxiety Index is a reliable predictor of equity performance. The published study demonstrates how anyone can outperform the market scientifically and predictably and with confidence.


The findings of this study have been incorporated into the Scientifically Predictable self-investing model, which is now available to customers of community-based banking institutions, who can now outperform the market with confidence and without the need to pay fees or commissions to advisors or intermediaries.

Contact: Dr. Dan Geller
Behavioral Economics
for Financial Services
Analyticom
drgeller@analyticom.com
www.analyticom.com
415-891-3093

News Briefs

Truck driver shortage: Myth or reality?
    Industry Experts debate
https://www.freightwaves.com/news/truck-driver-shortage-myth-or-reality?oly_enc_id=7354E3969723H7B

Are You The Top Broker?
    Enter Yourself in Broker Battle Here
https://debanked.com/2024/11/are-you-the-top-broker/

Renting households that are cost-burdened,
    among selected U.S. metro areas
https://www.sfchronicle.com/realestate/article/most-expensive-rent-19947135.php

C.E.O. of Stellantis, Which Owns Chrysler
    and Jeep, Resigns
https://www.nytimes.com/2024/12/01/business/stellantis-ceo-resigns.html

Googling Is for Old People
    That’s a Problem for Google.
https://www.wsj.com/tech/googling-is-for-old-people-thats-a-problem-for-google-5188a6ed?st=dAT2py&reflink=desktopwebshare_permalink

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Which US industries bet big on
   Noncitizens workers?
https://www.eastbaytimes.com/2024/11/29/which-us-industries-bet-big-on-noncitizen-workers/

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Sports Briefs---

Warriors look likely to trim Kerr’s huge
   rotation after four straight losses
https://www.eastbaytimes.com/2024/12/01/amid-losing-streak-warriors-rotation-tweaks-on-horizon/

Andrew Luck returning to Stanford football
as general manager
https://www.eastbaytimes.com/2024/11/30/andrew-luck-returning-to-stanford-football-as-general-manager-report                             

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California News Briefs---

Investors got big tax breaks to turn luxury apartments
   into affordable housing. In many cases, rents are higher than before.
https://www.eastbaytimes.com/2024/12/01/investors-tax-breaks-luxury-apartments-affordable-housing/

Homes vs. beaches: Court makes key decision in battle
 over California seawall construction amid ocean rise
https://www.eastbaytimes.com/2024/12/01/private-homes-vs-public-beaches-court-makes-key-decision-in-battle-over-whether-california-should-allow-more-seawall-construction/

Prominent Texas company deserts Lone Star
    State for California
https://www.sfgate.com/bayarea/article/dickies-relocating-orange-county-19944843.php

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Gimme that Wine

 

http://www.youtube.com/watch?v=EJnQoi8DSE8

Old World Winemakers Explore Innovation in Vineyard
 Management Thanks to Lessons from U.S. Counterparts
https://www.winebusiness.com/news/article/295676

California North Bay braces for possible changes
to labor force, tariffs
https://www.northbaybusinessjournal.com/article/industrynews/north-bay-ag-economy/

Revamped Napa Winery Combines Classic Wines
and Midcentury Glamour
https://www.sonomamag.com/revamped-napa-winery-combines-classic-wines-and-midcentury-glamour/

Natural wine chosen for Notre-Dame
Cathedral’s reopening
https://www.decanter.com/wine-news/natural-wine-chosen-for-notre-dame-cathedrals-reopening-545057/