More than 1,400 RIAs took PPP loans. Getty ImagesWhen it comes to prudent financial management, even novice investors understand the concept of saving for a rainy day. Adviser Investments was approved for $2.2 million in PPP loans but turned it down. His firm applied for and later received a PPP loan, but he eventually had a change of heart. Ribe says that he couldn’t honestly attest that his firm’s financial situation applied, so he didn't apply.

Source: Forbes July 13, 2020 20:05 UTC