COMMUNICATION • CLEAN ENERGY • RIA
In this week’s newsletter explore an interesting graphic visualizing the amount of offshore wind power generated in the U.S., broken down by state. In our news section read about Tesla’s booming battery business, a breakthrough in industrial waste water treatment, acquiring clients from advisors with different communication styles and more.
Let’s jump into it.
We send out our newsletter every Friday with the most interesting content we’ve found that week.
source canarymedia.com
“Ultimately, the key point is that a next-gen advisor doesn’t have to be a carbon copy of the legacy advisor or adapt their styles indefinitely to facilitate a smooth client transition. It does help, though, to keep transitioning clients on familiar ground, at least initially, and then gradually introduce new ways of framing the relationship and initiating meaningful conversations around money. And as an added bonus, the next-gen advisor can even offer the client the opportunity to reset by asking how they’d like the relationship to work. Because, at the end of the day, what matters most is doing work that is most meaningful for the client and that helps them progress toward their long-term goals!”
“Researchers have announced a breakthrough in wastewater treatment that could significantly improve the process by using the power of the sun. Oil/water waste combinations are complex to treat, but Environment+Energy Leader reported that scientists at State Key Laboratory of Pollution Control and Resource Reuse at Tongji University in Shanghai have discovered a promising upgrade to this process that could reduce materials and energy waste and cut down processing costs. The research, published in a journal called Small, detailed a common challenge in wastewater treatment: membrane fouling. This occurs when debris clogs the membranes used to filter wastewater, shortening their life span and hindering efficiency.”
“Tesla may be struggling when it comes to electric vehicle sales, but its energy storage business is on a serious upswing. In the second quarter of this year, Tesla deployed 9.4 gigawatt-hours of battery storage, a record for the firm and more than double its deployment in Q2 of last year. Revenue from the firm’s energy generation and storage segment doubled year over year to just over $3 billion in the quarter, contributing nearly 12 percent of Tesla’s revenue for the period; in Q2 of last year it accounted for just 6 percent of revenue. “This is growing faster than anything else,” Tesla CEO Elon Musk said of the energy storage business, which sells both residential and utility-scale battery products, during the company’s Q2 earnings call.”
“With proposed regulations now finalized, investors have clarity on the 10-year rule for inherited retirement accounts. The IRS recently issued final regulations for the 10-year rule for the distribution of inherited retirement accounts. The long-awaited final regulations essentially retain the proposed rules. In December 2019, the SECURE Act was signed into law, introducing a new 10-year distribution rule on most non-spouse inherited retirement accounts. The 10-year rule defines the time period for heirs to achieve complete distribution of inherited retirement assets.”
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