Galveston Financial Capital: About Us

The Galveston County Small Business Development Center (GC SBDC) provides business consulting and training to help entrepreneurs and small business owners at every stage of your business development. Our assistance is customized to your needs, whether you need help evaluating financing alternatives, developing a loan package, reviewing and updating your business plan, or improving productivity and profitability. We can also help you evaluate new market opportunities selling to federal, state and local governments or to customers outside the United States.

Visit us at our GC SBDC facility to meet with one of our expert consultants for a free, hands-on, one-on-one consulting session, or to attend one of our practical workshops led by experienced entrepreneurs to learn and expand your knowledge of critical business tools and technology skills. We'll also customize training just for you, to be held on site or at your location.
Date: 2017.03.13 Category: Finance Comments (0) Trackbacks (0)

International Organization of Financial Securities Regulatory Commission: We comment on IOSCO's non-GAAP financial measures proposals

Deloitte Touche Tohmatsu Limited has responded to the International Organization of Securities Commissions' Consultation 'Proposed Statement on Non-GAAP Financial Measures'. We support addressing the issue of non-GAAP financial measures at a global level as it is pervasive, and believe it is in the best interests of global securities markets if the proposed statement applied consistently in all IOSCO jurisdictions and is not overlaid with local guidance.

The comment letter makes a number of additional points, including:

• For the proposed statement to have maximum effect, we encourage IOSCO to develop a common definition of 'non-GAAP financial measure' and to determine which such measures should be subject to the common discipline
• It is important for the efficient operation of global capital markets that national and regional guidance is consistent and does not contradict the requirements of globally-recognised financial reporting frameworks
We agree that the proposed statement should apply to 'any non-GAAP financial measure wherever the measure is disclosed outside of the financial statements' as it recognises standard-setters' responsibility in relation to financial statements, and is a way of achieving consistency in the use of non-GAAP financial measures across the annual report as a whole, but suggest that IOSCO works with the IASB to clarify what is considered to be an 'IFRS measure'
We encourage IOSCO to determine a consistent scope, application and enforcement of the proposed statement, as it is assumed that it would encompass information on websites and other non-regulated information, and some securities market regulators regulate press releases and web-based material, but others do not.

Date: 2016.07.10 Category: Finance Comments (0) Trackbacks (0)

Millennials And Their Retirement Dreams: Is There Hope?



We cherish the promise of the American Dream. We’re taught that if we work hard and invest wisely, we’ll be able to retire comfortably. And with child-like optimism, we plug on until we’re 65. Yet, the numbers just don’t add up. The reality: as hard as we work, 92% of working households still won’t meet conservative retirement savings targets for their age and income. Even worse, with the loss of pensions, our current system (social security) to help ensure financial stability might not be here for our younger generation (Millennials).

What’s Standing In The Way Of Millennials’ Financial Dreams

As the largest generation in the U.S. workforce, Millennials are facing real challenges (some out of their control) that will inhibit their ability to maintain the same quality of life they have today when they reach retirement. In a recent study, we found that 40% of Millennials haven’t opened a single retirement savings account. And, 73% don’t know their net worth. Why does this matter?

Aside from the obvious (time is your biggest asset when it comes to planning for retirement!) – these two factors are critical for taking control of your financial life, whether you’re making a retirement plan, paying off student debt, planning for a family or any other financial priority. They’re also important for figuring out how much risk you can take on to protect yourself from unforeseen expenses or financial emergencies.

The Road To Retirement

With the average projected savings needed to retire comfortably hitting at least $1 million, far too many Millennials are already staggeringly behind. Cost of living is no joke in many of the big cities that Millennials flock to these days, yet according to our data, some Millennials are hoping to work for just 15 years. That amounts to nominal retirement savings at best, even if they’re maxing out their 401k contributions. To supplement the rest of their income in retirement, many are banking on living on inheritances without having a backup plan. On top of that, a scary number would pull out money from their retirement savings early to pay for big purchases like a car or wedding. We have an obligation to stop complaining about the shaky state of retirement readiness and help this generation live more stable financial lives. Because when they gamble with their retirement future, the American Dream ceases to exist.

The Solution?

From our research, we’ve found that the future of millennial retirement readiness depends on transparency – from quick mobile access to financial accounts, to support from trusted financial experts. In fact, Millennials are demanding better access to their retirement plans – 94% want mobile access to their retirement accounts. And, Millennials are twice as likely as people age 45 and older to say they’d check their retirement savings account daily if they could access it on their mobile device.

If we meet Millennials where they are, there is hope. I’ve invested my career in companies with the mission to make it easier for people to understand and manage their financial lives. I’ve seen that when people have the ability to interact with their finances, at their fingertips, they make smarter financial decisions – both short and long-term. We need to keep creating technology and fueling innovation that will meet the specific needs of the Millennial generation. Mobile banking led the way for everyday financial literacy. Soon, mobile retirement planning, coupled with broader access to financial advisors, will (and should) be the norm. Every day we’re getting one step closer.

Date: 2016.05.04 Category: Finance Comments (0) Trackbacks (0)

Breen Associates Financial Investigations and Risk Management Consultancy Firm

Breen & Associates is a Financial Investigations and Risk Management consultancy firm offering a porfolio of services to corporate management teams, security departments, attorneys, firms, internal legal departments, government agencies, and private interests. Our clients dominate the Fortune 100 and 500, and our years of experience in complex litigation have supported numerous attorneys and legal teams.

Our scope is domestic as well as international, using our network of associates. Capitalizing on our experience in forensic investigations and financial analysis, we work with each client to shape an approach to their requirements while considering the unique nature of each case, regardless of surface appearances. Our focus on results and integrity guarantee that our work will stand in a court of law when needed.

Contact us today to discover just how many ways we can help.
Date: 2015.04.10 Category: Finance Comments (0) Trackbacks (0)

Are You a Victim of Investment Fraud? How to Get Your Money Back

NEW YORK (MainStreet) — Investing is hard enough without walking into a bear trap set by an unscrupulous fraudster. Crooks create false account statements, make wild performance claims and operate elaborate Ponzi schemes in order to get money out of your pocket and into theirs. If you're the victim of such a crime, what are your chances of getting your money back?

The U.S. Securities and Exchange Commission (SEC) recently issued an investor bulletin explaining the ways in which conned consumers can attempt to recover assets lost to criminal investment scams. The good news: there are a number of ways to recover your money. The bad news: you are likely to recover only a portion of your loss – and be prepared for a lengthy process.

"Not all harmed investors will be able to recover money, and many of those who recover money receive less, often substantially less, than their losses from the securities fraud," the SEC says. "In addition, even when harmed investors are able to recover money, the process for distributing the money to harmed investors may take a long time."

If an SEC investigation into securities fraud is successful, enforcement action is initiated through the court system or by an agency administrative proceeding. In addition to attempting to reclaim the proceeds from the fraud on behalf of victims, often penalties and interest are charged; the court or the SEC will determine the distribution of these assets. In other cases, a receivership is formed to recover and manage the proceeds of criminal collections. In fiscal year 2013, the SEC collected more than $1.6 billion in fines and recovered investment assets.

When a brokerage firm fails, investors' assets are covered by the Securities Investor Protection Corporation (SIPC). Securities held at the broker-dealer are protected up to $500,000; cash is protected up to $250,000, but only for the value held – assets are not protected from market loss. And this protection is only offered for customers of firms who are members of the SIPC.

Investors who have suffered losses from fraud may also find recourse under federal bankruptcy laws or private class-action lawsuits.

The SEC conducts hundreds of investigations each year and says many violations pertain to the misrepresentation of investments, price manipulation, theft, insider trading or the sale of unregistered securities. A substantial number of these actions are spurred by tips from the public, consumer complaints and whistleblowers. Recent scams have targeted seniors, involved oil and gas companies, gold mining investments and speculative startup companies. Often investors are lured into such schemes on the heels of major news events, including rackets based on the recent Ebola outbreak.
Date: 2015.02.06 Category: Finance Comments (0) Trackbacks (0)