By Magaly Muñoz

Post Staff

Douglas Stewart has spent the last 15 years making his space at the Oakland Cannery into a home with artwork on every free space of the walls and vinyl records covering the tabletops.

Stewart is a man of many titles, including teacher, activist, advocate and above all, artist. He’s worked in arts preservation, poetry and has helped in juvenile justice centers and prisons to support vulnerable communities dealing with mental health and wellness issues.

The Oakland Cannery is more than a residence for Stewart and its other tenants, it’s also their workspace. However, after 47 years, the residents have been issued a 120-day eviction notice.

Problems at the Cannery began in 2016 when Green Sage, a Colorado-based cannabis cultivation company, acquired the property at 5733 San Leandro St. Their plan was to use this and other similar sites in the area for large-scale cannabis production.

“Unfortunately, however you want to look at it, Green Sage took over as landlords right around the time that the licenses and the Oakland Cannery got deemed as a ‘green zone’. And that’s when they started kicking out the commercial tenants below us and really started activating the space for cannabis operators and operations,” Stewart said.

Stewart and Alistair Monroe, son of the late painter Arthur Monroe who is responsible for the Cannery’s transformation into Oakland’s first live-work residence, claim their homes became unlivable due to the property owners’ neglect.

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Both told stories of poor plumbing, electrical problems, lack of security and maintenance workers entering their homes unannounced. Despite numerous complaints and maintenance, requests, the property owners failed to address the problems.

“They had a lawless mentality to say that we were not residential use, we were commercial use, and we had to do as they say,” Monroe said.

Stewart supports safe cannabis cultivation and equal market opportunities. He is critical of Green Sage for saturating the market and hindering local business growth in Oakland.

Holding a micro-license for distribution and sales, Stewart benefits from an equity program that aids Oakland residents impacted by the War on Drugs with permits, grants and interest-free loans.

Stewart tried to use the Cannery’s commercial space for his license but was denied by the property owners. His efforts to rent other city spaces also ended in eviction.

“I can’t really afford to find a new place for my business license to hang up after being displaced by my last business operations location and then also having to try to juggle and figure out where I’m gonna be laying my head within the next three months after the Ellis Act eviction,” Stewart said.

Three years into their ownership, Green Sage defaulted on a $55 million loan from a Canadian private commercial mortgage lender, Romspen. The managers of Green Sage have since disappeared.

In September, Ellis Act evictions were served to residents of the Oakland Cannery enabling the landlords to take their properties off the market and remove all tenants.

According to Wikipedia, the Ellis Act is a 1985 California state law that allows landlords to evict residential tenants to “go out of the rental business” in spite of desires by local governments to compel them to continue providing rental housing.

Mark Mersel, an attorney who represents Romspen, states that after Green Sage defaulted on their loan, the mortgage company had to foreclose on the property.

He stated that many, if not all, of the current tenants at the Oakland Cannery had not paid rent or did not have valid leases with the property, and that they are all “basically squatters.”

“All Romspen is trying to do is get this property to operate, not be a blight on the neighborhood, and operate it for its industrial intended purpose,” Mersel said.

Monroe suspects the evictions were retaliation for lawsuits and complaints about unlivable conditions in the building and says he saw this coming from a mile away.

“The first day the landlords were on site they just openly said ‘we’re going to be removing you guys,’” Monroe said.

Eddie Ytuarte from the Oakland Tenants Union asserts that under the Ellis Act, unless the tenants were given relocation payments at the time of the notice, the eviction is invalid.

“A lot of things that landlords refuse to do are actual code violations,” Ytuarte stated. “For instance, if the plumbing is no good, or if the heat is insufficient, it’s breaking city codes and if the tenants are under rent control, they could petition for lower rents or they could sue in small claims court.”

Neither Stewart nor Monroe received relocation payments, only copies of checks via email.

Ytuarte suggested that tenants looking to fight eviction should seek pro-bono legal services or find an attorney who will take on the case for a much lower rate.

Monroe said that they tried those options, but to no avail. In other efforts, he and Stewart have hosted events to bring in city officials, like Mayor Sheng Thao and almost every Oakland City Council member to plead their case and find support from their resources.

A City of Oakland’s public information officer (PIO) wrote in an email to the Post that they have attempted to connect local developers who want to preserve the live-work space to the property owner, but the property owner has not shown any interest.

“The City has been working to protect the Oakland Cannery and other live/work communities from displacement pressure due to cannabis for many years. In 2018, the City adopted legislation prohibiting any type of cannabis business in live/work spaces. Then in 2023 it went further, prohibiting cannabis cultivation on any part of a property that contains work/live spaces,” said the PIO.

“Unfortunately, no local protections can prevent landlords from filing an eviction under the Ellis Act, as that is California State law,” the PIO concluded.

Councilmember Kevin Jenkins, who represents District 6 where The Cannery is located, stated that beyond moral support, there’s not much else that his office can do to help the residents.

“I think displacement has been a big issue in the last 15 to 20 years. We are losing a large share of our African American population from Oakland. A lot of them are being displaced and being forced to move outside of the county and outside the state,” Jenkins said.

Monroe and Stewart stopped paying rent in response to the mistreatment of Green Sage and the COVID-19 pandemic. The eviction moratorium protected tenants from eviction due to unpaid rent during the pandemic.

City ordinance states that in order for a property owner to terminate residency, they have to provide a good or just cause. The Ellis Act is considered a just cause.

Ultimately, it’s not about the buyout price for Monroe or Stewart. They want The Cannery to remain an affordable live-work space for artists.

“It’s more than just having a place to lay my head. It’s a place of advocacy. It’s a place for art to be preserved. For a culture to be preserved and for a community to be lifted,” Stewart said.

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San Francisco— FBI San Francisco is warning the public of a new scam dubbed “The Phantom Hacker.” Scammers are impersonating technology, banking, and government officials in a complex ruse to convince a typically older victim that foreign hackers have infiltrated their financial account. The scammers then instruct the victim to immediately move their money to an alleged U.S. Government account to “protect” their assets. In reality, there was never any foreign hacker, and the money is now fully controlled by the scammers. Some victims are losing their entire life savings.

“These scammers are cold and calculated. They are targeting older members of our community who are particularly mindful of potential risks to their nest eggs. The criminals are using the victims’ own attentiveness against them,” said Special Agent in Charge John S. Morales. “By educating the public about this alarming new scam, we hope to get ahead of these scammers and prevent any further victimization.”

“The Phantom Hacker” Scam: How It Works

The FBI has observed repeated behavior by criminals involved in “The Phantom Hacker” scam. The ruse is often perpetrated in three major steps:

Step 1 – Tech Support Imposter

In the first step, a scammer posing as a customer support representative from a legitimate technology company initiates contact with the victim through a phone call, text, email, or a pop-up window on their computer and instructs the victim to call a number for “assistance.”

Once the victim calls the phone number, a scammer directs the victim to download a software program allowing the scammer remote access to the victim’s computer. The scammer pretends to run a virus scan on the victim’s computer and falsely claims the victim’s computer either has been or is at risk of being hacked.

Next, the scammer requests the victim open their financial accounts to determine whether there have been any unauthorized charges – a tactic to allow the scammer to determine which financial account is most lucrative for targeting. The scammer informs the victim they will receive a call from that financial institution’s fraud department with further instructions.

Step 2 – Financial Institution Imposter

In the second step, a scammer, posing as a representative of the financial institution mentioned above, such as a bank or a brokerage firm, contacts the victim. The scammer falsely informs the victim their computer and financial accounts have been accessed by a foreign hacker and the victim must move their money to a “safe” third-party account, such as an account with the Federal Reserve or another U.S. Government agency.

The victim is directed to transfer money via a wire transfer, cash, or wire conversion to cryptocurrency, often directly to overseas recipients. The victim is also told not to inform anyone of the real reason they are moving their money. The scammer may instruct the victim to send multiple transactions over a span of days or months.

Step 3 – U.S. Government Imposter

In the third step, the victim may be contacted by a scammer posing as the Federal Reserve or another U.S. Government agency. If the victim becomes suspicious, the scammer may send an email or a letter on what appears to be official U.S. Government letterhead to legitimize the scam. The scammer will continue to emphasize the victim’s funds are “unsafe” and they must be moved to a new “alias” account for protection until the victim concedes.

Victims often suffer the loss of entire banking, savings, retirement, and investment accounts under the guise of “protecting” their assets.

Tips to Protect Yourself

The FBI recommends that the public take the following steps to protect themselves from “The Phantom Hacker” scam:

• Do not click on unsolicited pop-ups, links sent via text messages, email links, or attachments.
• Do not contact the telephone number provided in a pop-up, text, or email.
• Do not download software at the request of an unknown individual who contacted you.
• Do not allow an unknown individual who contacted you to have control of your computer.
• The U.S. Government will never request you send money to them via wire transfer, cryptocurrency, or gift/prepaid cards.

Reporting Suspected Fraud

The FBI requests victims report these fraudulent or suspicious activities to the FBI Internet Crime Complaint Center (IC3) at www.ic3.gov. Be sure to include as much information as possible, such as:

• The name of the person or company that contacted you.
• Methods of communication used, to include websites, emails, and telephone numbers.
• The bank account number where the funds were wired to and the recipient’s name(s).

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SAN FRANCISCO — Depending on the time of day and what he’s got going on,  you may find Kurt Houtkooper in his office or doing business about a two-minute walk from that office.

“I take calls out here all the time, standing right here looking at the Golden Gate Bridge,” he said.

Houtkooper is the CEO of Hamilton Zanze and Company, which has been based in San Francisco’s Presidio since the early 2000s. They own and operate apartment communities in 20 states.

Since then but primarily in recent years, he’s seen more companies — especially venture capital firms — moving from downtown and other areas and establishing their footprint in the Presidio.

“It’s taken a whole new step forward, post-COVID,” Houtkooper said. “I think it’s a combination of not just capital companies moving here but, also, the type of space that’s available with this college-campus feel with office buildings.”

Diana Simmons, the COO of Presidio Trust, says interest really picked up around 2020, as companies shifted the way they did business.

“We have had so much interest in our smaller spaces that we have had to start a waiting list for those offices,” she said. “We have had a lot of interest from venture capital firms recently. We also actually have a huge array of businesses — over 200 businesses in the Presidio — from non-profits to schools to hospitality and recreation businesses. We’ve got design firms, retail and tech.” 

Simmons says 95 percent of the commercial real estate portfolio is currently leased, which equates to a 5 percent vacancy rate.

“With open spaces, park spaces, places to do work and team-building outdoors, ample parking — we hear from our tenants that that’s something they’re looking for that they actually feel is a benefit to their employees. Especially in bringing them back to work in the office,” she said.

Just a few miles away, in downtown San Francisco, the office vacancy rate stands at about 31 percent, according to figures from CBRE, commercial real estate services company.

The growing interest in the Presidio has several benefits, Simmons said, including for everyone who likes to visit the Presidio.

“We have a really unique funding model for a National Park site,” she said. “All of our rentable space earns income that we use to keep the park open and free to the public.”

Smaller businesses, including restaurants like Sessions at the Presidio, also are seeing a benefit.

“We’ve been very fortunate to be in this great place and setting where occupancy has remained high,” said Juan Bueno, the director of hospitality for the Letterman Digital Arts Center.

His restaurant has been around for seven years and he doesn’t take the foot traffic for granted.

“Monday through Friday we see a lot of influx from our office occupants here on campus. We also do get a crowd from our local neighbors who come in,” he said. “Good for meetings, good for date night, good for families — we have a tremendous brunch business and a great happy hour.”

His theory about the growing desire to be in the Presidio?

“It’s just a nice and quiet place to get away from the hustle and bustle of other parts of the city,” he said. “We have ample parking, which you can’t say that about some other parts of the city. I think it’s a nice setting, safe, relaxed, beautiful views, great restaurants and sometimes overlooked as far as places to take advantage of in the city.”

Houtkooper thinks the Presidio offers a unique environment for companies as they try to get employees back to the office.

“As companies are trying to get employees and associates back to work, these buildings here have everything you need to attract your employees to the office space,” he said. “It fits a post-COVID type of workforce. Operable windows, no elevators that go up and down — you get to walk up. There are multiple kitchens, you can go outside and work outside, there are picnic tables everywhere, there’s a lot of green space — grass, palm trees. Everywhere you look it’s picturesque with the bay and the Golden Gate Bridge. The amenities are here.”

While that may be the case, Houtkooper doesn’t believe the Presidio will ever replace downtown.

“The downtown core of San Francisco will come back. It will thrive. This is just different. This is unique, it’s extraordinary, there’s nothing else like it,” he said. “I’d like to say that this is the future of business but there isn’t enough space here. There is enough space downtown. The future will be, again, downtown San Francisco. Hopefully very soon.”

More from CBS News

Max Darrow

Max Darrow is an Emmy award winning reporter/MMJ for KPIX 5. He joined the KPIX 5 news team in July 2021.

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Humphrey Yang’s personal finance videos — which many viewers first discovered via her TikTok algorithm — can sometimes feel like an informative oasis amidst brain-dead scrolling.

Much of his content focuses on breaking down complex financial terminology into easy-to-understand metaphors.

His explanation of short selling uses the example of an iPhone as an asset, which is borrowed and sold up front at a higher price before being bought a year later at a lower price, allowing the seller to pocket the difference.

“That’s the common thread that runs through all of my content: break it down and make it easy for people to understand,” Yang said

Yang has always been interested in money and how it moves in the world. His first business venture was selling sodas to his classmates in elementary school.

A composite image shows Humphrey Yang (left) in his office recording TikTok videos about finance and a detail photo of “The Taxable Investor’s Manifesto” (right). | Justin Katigbak for The Standard.

Since then, he has held various professional positions, including in the video game industry, as a financial advisor at Merrill Lynch, and as co-owner of an online printing company. Before he became an online finance guru, he was the guy his friends could rely on for money advice.

Yang said that as a viewer, he had always been fascinated by video artists and decided to use his personal expertise to help others.

Like any successful entrepreneur, Yang begins to branch out. He has launched a business news substack newsletter and is working to shift his time, energy and audience to YouTube, where he has grown his subscriber base to over 1 million people.

“As a creative, there’s a constant need to diversify because you don’t want to rely on just one platform,” Yang said. “If it gets killed, you’re screwed.”

Yang said he appreciates the opportunity to delve deeper into subjects in addition to the financial benefit. While TikTok videos often have a wider reach, the actual monetization of the content is done through sponsors. Yang said that one million views on TikTok cost less than $10.

On YouTube, the process is much simpler; Ads appear in the video, and the creator gets a share of that share. From about 15% of his revenue from YouTube ads last year, he’s jumped to 40% this year.

“You build a real audience because people choose to watch the content, whereas on TikTok you just get it,” Yang said.

Yang started trying to make YouTube videos in 2019, but his first attempts failed. While scrolling through TikTok (mainly teenagers performing choreographed dances at the time), he searched under the hashtag “Personal Finance” and found basically nothing.

“So I started making videos on TikTok in late 2019 and caught on super fast,” Yang said. “I think in my first post I explained what a credit score is. It’s a really shitty video, but it still got like 10,000 views.”

He has set himself the goal of shooting a video every month. At the end of 30 days, he had around 120,000 followers.

Last year, Fortune Magazine profiled Yang, citing a Consumer Affairs poll that found he was the personal finance guru most trusted by Gen Z, edging out Warren Buffet among others. Yang was surprised – if flattered – at the honor.

“I don’t have $100 billion,” Yang quipped.

Nonetheless, he takes his responsibilities as a financial advisor seriously. Yang said he had been cautious during the meme-stock and crypto hype waves of 2021, turning down a sponsorship offer from FTX ahead of their surge, a decision he now describes as a “hidden blessing.”

Humphrey Yang is sitting in his San Francisco office on Wednesday, May 24, 2023, where he is recording videos about finance. | Justin Katigbak for The Standard.

“I think the younger generation doesn’t have that much confidence in investing. They don’t think there will be returns 40 years later,” Yang said. “They also have suspicions about what will build their wealth.”

It makes sense. Yang cited statistics showing that the vast majority of young people are living paycheck to paycheck and that college tuition and real estate prices have far outpaced wage increases.

Still, he said everyone can take their first step towards a better future by confronting their financial reality. Yang recommends entering all expenses and income in a ledger to find out how much is going in and out.

“We want to teach you how to fish and give you all the framework and basics to figure out your personal finances,” he said.

Yang recently moved from Redwood City to a location in San Francisco’s Marina District, a few blocks from the waterfront. So the relevant question is: why does it make financial sense to live in San Francisco?

“That’s really not the case,” he said. “But I was just looking for a social change, and things are a lot easier up here.”

But he also made a really good deal for his rent-controlled apartment, he noted.

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PHILADELPHIA (WPVI) — The Philadelphia Eagles are battling it out with the San Francisco 49ers in the NFC Championship game.

The winner of the game will take on either the Chiefs or Bengals in Super Bowl LVII. Here are live updates from Lincoln Financial Field:

3:27pm Eagles win the challenge. Fumble recovery. Birds back on the field.

3:16:pm Miles Sanders 6 yrd. run for a TD. Eagles lead 7-0.

3:12 pm: Big catch by Devonta Smith to convert for a first down.

3:11 pm: Fans are packed into Xfinity Live

3:00 pm: Grammy Award winner Anita Baker kicks off the NFC Championship with the national anthem.

2:40pm: Kevin Hart, Joel Embiid, DeSean Jackson, Michael Rubin and Corey Clement on the field at the Linc before the game

Possible road closures

At the conclusion of Sunday’s game, temporary traffic closures may be put into place to maintain public safety at the Sports Complex District, and in the vicinity of City Hall and surrounding Center City streets between 8th and 20th Streets and Race and Lombard Streets.

Travel delays can be expected and motorists are advised to avoid the area by using alternate routes, and allow for extra driving time when traveling in the vicinity.

Please follow all posted signs, detours and traffic control devices.

Philadelphia Eagles fans prior to the NFC Divisional playoff game between the Eagles and the New York Giants on January 21, 2023 at Lincoln Financial Field.

Photo by Rich Graessle/Icon Sportswire via Getty Images

public transportation

For those attending the NFC Championship Game on Sunday, SEPTA will accommodate passengers traveling to the game with extra trains on the Broad Street Line. This Sports Express service will run every 10 minutes beginning at 11:10 am, with trips starting at Fern Rock Station and stopping at Olney, Erie, Girard, Spring Garden, Race-Vine, City Hall, and Walnut-Locust Stations before reaching NRG Station Unibet, a platform for online sports betting, bingo, and poker, will help Eagles fans get home safely after the NFC Championship Game by sponsoring free rides home from NRG Station on the Broad Street Line.

At the conclusion of Sunday’s game, temporary SEPTA route detours may be put into place and service is subject to change. Customers should refer to System Status regularly for updates to routing throughout the day.

For more information about SEPTA, including schedules and trip planning tools, visit www.septa.org, and follow @SEPTA for real-time travel updates.

Public Safety Information

Throughout the day, the City will provide law-enforcement support, traffic control, and emergency medical services at the Sports Complex District and other key locations for public safety.

In addition, the public should expect congestion in these areas. If you are attending the game, make a plan regarding driving, public transit, parking, and supervision of children. It is recommended that attendees wear comfortable, weather-appropriate attire.

Leave no bags or items unattended. In an emergency or to report a suspicious person, activity or item (a backpack, a package, a container), notify a police officer immediately or call 9-1-1. Do not try to open, move, cover or touch a suspicious item.

For tips and general information about being prepared and ready at special events, check out the Special Event Safety Guide.

Additional protocols for the upcoming game are being evaluated by the Philadelphia Police Department and our public safety partners. PPD will institute the practice of ‘greasing poles’ as a deterrent for climbing poles and light fixtures. Based on prior experience in these situations, and to control the flow of crowds, barricades have been put into place at key locations for public safety. General tips for business owners regarding public safety can be found online.

stay connected

Any information and updates will be published on the Office of Emergency Management (@Philaoem), City of Philadelphia (@PhiladelphiaGov), and Police (@PhillyPolice) Twitter pages.

Be sure to sign up for emergency and informational text messages from the Office of Emergency Management at www.phila.gov/ready or texting “READYPHILA” to 888-777.

Copyright © 2023 WPVI-TV. All rights reserved.

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The third quarter is an officially a wrap, and the stock market saw the Dow (^DJI) post its worst September performance in two decades — down nearly 2800 points, or 8.9% for the month — while the S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) are now in the red three straight quarters for the first time since the Global Financial Crisis.

And as investors prepare for the historically volatile (and crash-prone) month of October, some on Wall Street are coalescing around the idea that equities are on the cusp of a meaningful rally. Two key questions remain: How far can stocks rally? And, is “The low” in?

The global research team at BofA Securities, led by Michael Hartnett, has navigated the curveballs thrown by 2022 far better than most. In their latest missive, Hartnett & Co. reflect on the “broken, freaky post-[Quantitative Easing] financial system plumbing” and throw down the gauntlet at the bottom-is-in crowd.

“We are tactical bears,” says BofA, recommending bets on lower stock prices and higher yields (particularly in the two-year tenor) into Halloween.

This image of US dollars flowing through pipes was created by Yahoo Finance with DALL E AI software. (OpenAI)

They cite the recent actions by the Bank of Japan and Bank of England as evidence that central bankers are enacting ad hoc policy responses doomed to fail. Moves in London were particularly dizzying: British authorities aggressively hiked rates to combat inflation (restrictive), then proposed cutting taxes to mitigate the pain on the working class (stimulative), and then — in the face of pension funds teetering on the brink of collapse — committed to buy an unlimited amount of bonds for a period (also stimulative).

The situation may not be as dire in the US, but cracks are surfacing that reveal financial markets are creaking under the strains of massive and often incongruous policy responses.

Central banks have tightened financial conditions to the point where the plumbing of the global financial markets could burst, BofA stated, having already drained $3.1 trillion from their balance sheets through quantitative tightening (QT).

Story continues

BofA:

Investors, meanwhile, are grappling with a generational shakeup in market regime, which necessarily takes time and patience to navigate. BofA painted a stark picture of the dramatic transition.

The “bullish deflationary era of peace, globalization, fiscal discipline, QE, zero rates, low taxes, [and] inequality” is slowly giving way to an “inflationary era of war, nationalism, fiscal panic, QT, high rates, high taxes, [and] inclusion,” the analysts wrote.

At the same time, authorities must respond to day-to-day realities — oftentimes without the luxury of waiting. BofA believes that global authorities are likely to come together and coordinate policy if the carnage continues into a critical G20 meeting in mid-November.

Until then, BofA sees the S&P 500 plunging further to the numerically-symmetrical target of 3333. Rounding to the nearest hundred, their advice is to “nibble 3600, bite 3300, gorge 3000.” The S&P 500 closed at 3585.62 Friday — a fresh 2022 low — suggesting a light snack of bruised large-cap stocks for those champions at the bit to deploy cash on the sidelines.

Looking forward to 2023, BofA expects the “Big Low” in the first quarter as recession and credit shocks peak. From there, the bank is forecasting the “trade of ’23” to be short the dollar while being long emerging markets, small caps, and cyclical stocks.

BofA stressed that investors shouldn’t expect to achieve anything near the historic annual returns of 10% — much less the 14% returns achieved over the trailing decade — and simply be aware of “more limited upside from risk assets.”

After what is shaping up to be a remarkably turbulent year for investors, perhaps “limited upside” will be a welcome change in 2023.

—

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CHICAGO–(BUSINESS WIRE)–The Mather Group, LLC (TMG), a wealth management firm with 12 offices across the country and more than $8.0 billion in assets under management (AUM, as of 7/31/22), has announced its acquisition of HC Financial Advisors Inc. (HC), a registered investment adviser (RIA) firm based in Lafayette, CA.

HC was founded in 1986 and has approximately $478 million in AUM as of 7/31/22. Its three principals—Stephen Biggs, Andy Byron, and Karla McAvoy—and the entire HC team joined TMG as part of the transition. Biggs and McAvoy had been with HC since 2008, while Byron joined in 2011. “We and the rest of our team are very excited about becoming part of TMG,” said Byron. “Being philosophically aligned—in terms of how we serve clients, manage investments, and foster a strong culture for employees—gives us great confidence that this is a win-win partnership for all involved. The support and assistance provided by TMG so far has exceeded our expectations, and we are looking forward to our future together.”

This is TMG’s third acquisition in August, as the firm announced partnerships with Seiffert Ltd. and Semita Asset Management last week. The firm anticipates more partnerships before year-end and expects to continue its steady pace of partnerships with like-minded firms going forward, furthering its goal to be a national boutique for wealth management. The HC partnership adds a second Bay-area office to the firm’s growing footprint.

“We have a robust, repeatable process in place to help us manage integrations, and we’re constantly refining and improving it as we scale. It’s a collaborative effort,” said TMG CEO Chris Behrens. “Welcoming new partners and clients to the TMG family is driven primarily by the opportunity to provide expanded services, such as tax preparation and estate planning guidance, that help enhance the client experience. We’re also able to offer advanced technology and career opportunities that are beneficial for employees as it relates to their daily jobs and their longer-term aspirations.”

The firm offers a comprehensive range of in-house services, including financial planning, tax advice and preparation, portfolio management, concentrated stock management, risk assessment, and estate planning guidance. Investment recommendations are not tied to commissions. Clients pay for the firm’s experienced advice on a fee-only basis, typically as a percentage of assets under management. This approach helps align the interests of the firm with the client.

ABOUT TMG

Headquartered in Chicago with offices in Atlanta, Austin, Dallas, Houston, Knoxville, Morristown (NJ), Nashville Area, San Francisco Bay Area, Seattle Area, Spring (TX), and Washington, DC Area, TMG is a fee-only fiduciary firm serving primarily high-net-worth individuals. TMG’s professionals aim to simplify clients’ lives by providing a comprehensive suite of services under one roof. TMG is a federally registered investment adviser under the Investment Advisers Act of 1940, as amended, providing discretionary and non-discretionary investment advice to clients. Visit us at www.themathergroup.com.

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The cost that financial firms pay for relatively short-term borrowings in the US commercial paper market shot up sharply in the last few days.

Why it matters: This is a sign that the lenders who provide credit — the lifeblood of the financial system — are getting a bit jittery.

• The concern is that other financial firms could suffer losses as a result of fallout from Russia’s invasion of Ukraine, and the sanctions imposed in response.

State of play: Many lenders have decided they want to extend credit on a much shorter term, say, just overnight rather than over a few months.

• “We have a crisis of sorts unfolding, and in a crisis, like in 2008, everyone lends at short maturities,” wrote Zoltan Pozsar, an analyst at Credit Suisse, who covers these short-term credit markets.

What we’re watching: Whether financial markets start to single out and stigmatize certain banks they believe may be hurt especially badly by the effects of Russia’s invasion and subsequent sanctions.

The bottom line: The events of the last two weeks represent a massive shock to the global financial and economic systems. So far, the financial system has held up fairly well, but we’re seeing signs of strain.

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AUSTIN, TX–(BUSINESS WIRE)–Helix by Q2 (NYSE:QTWO), a cloud-native core purpose built for embedded finance, has announced today that Paul Walker, senior vice president of Revenue & Partnerships for Helix, and Roman Chwyl, Managing Director of Fintech Unicorns at Microsoft, will speak on May 20, 2022, at Finovate Spring on how fintechs are driving financial inclusion.

Walker and Chwyl will discuss how the evolving business model, enabled by embedded finance, makes it profitable to serve all-income level users and is inspiring some of the largest and most innovative fintech unicorns to build customized, human-centric banking solutions.

Helix, powered by Microsoft Azure, is the only multi-tenant cloud-based core purpose-built for embedded finance. As a Microsoft Azure partner, Helix was recently the focus of an Azure case study on its groundbreaking work to enable fintechs to use embedded finance to deliver personalized banking products. The case study cites the following key benefits of Helix:

• A low-latency, highly accessible platform structured to provide customers with trusted and secure financial services

• A competitive product portfolio built on a robust banking platform

• Sustainable and measurable growth across customer, investment and employee bases

Helix serves more than 12 million users nationwide and processes over $20 billion in transactions per year. To view the full Microsoft case study, click here. For information about Helix, visit helix.q2.com.

About Helix

Helix gives innovative fintechs and brands the building blocks of banking — accounts, cards, payments, data and controls, admin tools, and monetization solutions — to make it easy to embed personalized financial experiences that easily integrate and scale. For more information on Helix, visit helix.q2.com.

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Leading Digital Personal Finance Company Earns Spot for Sixth Time

SAN MATEO, Calif., May 9, 2022 /PRNewswire/ — Freedom Financial Network (FFN), a leading digital personal finance company, announced today it was named to the 2022 Best Places to Work in the Bay Area, an annual list presented by the San Francisco Business Times and the Silicon Valley BusinessJournal.

The company rankings are based on the results of confidential surveys sent to each firm’s Bay Area employees. The survey assesses various aspects of company culture, including communications, managerial effectiveness, team dynamics and trust in leadership, to gauge overall employee sentiment. FFN, which is headquartered in San Mateo, Calif. and employs more than 2,400 people nationwide, which was recognized in the large company category of the rankings. This year marks the sixth time FFN has been named to the list.

“At Freedom Financial Network, our employees play a critical part in furthering our mission to help everyday people get on — and stay on — a path to a better financial future,” said Brad Straw, co-founder and co-CEO of Freedom Financial Network. “Together, we focus on our customers to understand what’s working for them and what’s not and we tailor personalized approaches to meet their personal needs and goals. We innovate to offer the best financial solutions, using data and AI to speed decisioning, improve transparency and And finally, we build relationships so that we can help our customers on their first step, and every next step, on their journey.”

Freedom Financial Network helps people make better financial decisions by managing expenses and debt, saving money, and planning. The company provides innovative technology and relationship-driven support for every step of a consumer’s financial path, including personal loans, debt resolution and restructuring, home equity lines of credit and financial tools and education.

“This recognition is especially meaningful because it is based on the feedback from our employees. We strive to provide an environment where employees can have fulfilling careers and the opportunity to grow, both personally and professionally,” said Linda Lumanexecutive vice president of human resources at FFN.

FFN recently surpassed $15 billion in consumer debt resolved and has served over 1 million customers since its founding in 2002. The company is continually innovating new solutions to expand the depth and breadth of its financial services offerings and is actively hiring for remote and hybrid roles in sales, engineering, technology and product development in California, Arizona other Texas.

Earlier this month, FFN was named to the Phoenix Business Journal’s 2022 Healthiest Employers List in recognition of its efforts to motivate employees to achieve and maintain wellness through a strong emphasis on mental and physical health. FFN has also been named to the Phoenix Business Journal’s annual “Best Places to Work” list 11 times, including winning first place in the extra-large company category in 2021. Last year, FFN was also named one of “Arizona’s Most Admired Companies” by AZBigMedia and a “Top Workplace” by the Arizona Republic.

Full details of the 2022 Best Places to Work in the Bay Area can be found here.

About Freedom Financial Network
Freedom Financial Network is a leading digital personal finance company. We do what traditional banks don’t: Put people first. Our solutions help everyday people get on, and stay on, the path to a brighter financial future, with innovative technology and personalized support. By leveraging proprietary data and analytics, our solutions are tailored for each step of a consumer’s financial journey and include personal loans (FreedomPlus), home equity loans (Lendage), help with debt (Freedom Debt Relief), and even financial tools and education ( Bills.com). Freedom Financial Network has more than 2,300 dedicated employees across California, Arizona other Texas and is recognized as a best place to work.

For information on career opportunities at Freedom Financial Network, visit: https://jobs.freedomfinancialnetwork.com/

SOURCE Freedom Financial Network

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