MINDMED Goes Public: An Interview with CEO J.R. Rahn and Investor Kevon O'Leary

Investors intrigued by the buzz surrounding a new breed of startups developing medications based on psychedelics can expect new opportunities to invest in the sector this year.
Mind Medicine Inc. (MindMed), whose backers include entrepreneur Kevin O’Leary of “Shark Tank” fame, has become the first psychedelics pharmaceutical firm to go public. The Toronto-based company, which is developing “psychedelic-inspired medicines” to combat opioid addiction and other disorders, completed its initial public offering March 3 on the NEO Exchange in Canada.

Capital gains tax breaks draw interest

With just days remaining in 2017, Congress passed the largest overhaul of the tax code in three decades through the Tax Cuts and Jobs Act. The bill made waves in the media and garnered lots of debate because it slashed the corporate tax rate from 35 to 21 percent, and also lowered income taxes for individuals and families.

But backed into the bill was a lesser-known provision that created lots of potential upside for investors through mechanisms called qualified opportunity zones, which at their core are economically-distressed communities located around the United States.

According to the nonprofit DoughMainTM Financial Literacy Foundation’s website, 76 percent of U.S. students are unprepared for their financial futures; 60 percent of Americans spend without a budget; 95 percent of high school seniors are financially uneducated, and 75 percent of college graduates are financially illiterate.

The statistics are staggering – especially for an arguably basic necessity for functioning in life. At its core, being financially literate means being able to understand how money works.

Equity markets around the world sold off last week because of uncertainty relative the Coronavirus’ impact on the global economy and corporate profits. No one knows how bad the economic impact might be, but the worst case scenario or potential “tail risk” is truly frightening relative to loss of life, contraction in global GDP and implosion in the financial markets. One thing we are confident in is that globally coordinated monetary stimulus will not be very effective in preventing an economic meltdown due to preventative measures in reducing the spread of the virus.

The subtle yet important differences
A significant part of financial literacy is knowing which professional to call in various situations. On the surface, many financial professionals seem to have similar duties. The fiduciary, the broker, and the dual registered advisor serve vastly different purposes, but they are seen as overlapping disciplines to many people outside of the industry. Advisors Magazine asked advisors across the industry in different disciplines for their reasoning – why don’t prospective investors know the subtle yet important differences between different types of financial professionals, especially with $74.3 trillion under

Don’t let common advisor Facebook marketing mistakes burn through your budget!

Every year, the world seems to get ever more anchored in technology and social media. The pressure is ramping up, and advisors are making an effort to become more “digitally available” to their prospects and clients. And yes, that includes trying to crack the code on “Facebook for financial advisors”.

This has created an interesting shift in our industry. Online marketing topics have become the mainstays of advisor conferences. Many compliance departments have no idea what to do with this trend.