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When considering how best to manage the crucial tasks of payroll and accounts payable/receivable, small business owners are often faced with a dilemma. Should they hire dedicated external financial professionals or cross-train their existing administrative staff to handle those responsibilities?

In order to try to tame high inflation, the Federal Reserve went through a stretch from March 2022 through July 2023 where it quickly raised the federal funds rate, eventually landing at 5.25 to 5.50%, a 22-year high.

It’s no secret that it’s difficult for many Americans to make ends meet right now, but some are struggling more than others.

In the financial services industry, the term “fiduciary” gets thrown around a lot—so often, in fact, that it can start to lose meaning. A simple definition of a fiduciary is a person or organization that puts their clients’ interests first, ahead of their own.