News

December 10, 2022

How Do You Tip People When You Don’t Carry Cash?

QR Codes May Be the Answer

Let me ask you a question. How do you tip when you don't carry cash? Wyndham Hotels now lets you use a mobile app so you can tip their staff. Hilton is also testing cashless tipping. You use your phone to click a QR code. You've got to pay 8% when using the app. The money goes directly to an employee's debit card. This is just another illustration of how technology is altering how we engage in our daily activities. And the argument that you need cash? It's going away pretty quick. Everything is going digital. By the way, how much should you tip when you're traveling?

The general guidelines are that if you're jumping on one of those hotel courtesy shuttle buses, you should tip the driver anywhere from $1 to $5 plus a $1 a bag if they're helping you load into the back. If you're using the valet $1 to $5 when your car gets delivered. You don't pay them anything when they take your car away. If you're going to have a bell staff take your luggage to your room, $1 to $5 per bag. Housekeeping? You should leave $1 to $5 per night. If you're staying there for five nights, don't leave $25 when you leave. Instead, leave $5 per day because you might have a different housekeeper each day of your stay. And if you turn to the concierge for assistance with reservations or advice or help, $5 and up, depending on the complexity of the ask. And room delivery - $1 per item.

We need to recognize that just because we're not carrying cash, that doesn't alleviate ourselves of the obligation to make sure that we are compensating those who are providing personal services to us. Even though there's no cash in your future, tipping will be.

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Jillian DelSignore

Global Head of Investor Distribution Strategy | Nasdaq Global Indexes

Jillian DelSignore, CIMA, is Global Head of Investor Distribution Strategy, Indexes at Nasdaq.

Prior to joining Nasdaq, Jillian was Head of ETFs & Indexing at FLX Distribution. FLX is a first of its kind technology platform that brings together asset managers, distribution professionals, wealth managers, and advisors.

Before and during her time at FLX, she was the Principal of Lakefront Advisory advising financial services firms on accelerating their growth through initiating, scaling or changing their distribution strategy. Given her depth of experience in the ETF industry, she also helps her clients demystify the ETF ecosystem by advising on the intricacies of that market.

Before starting Lakefront Advisory, Jillian was Head of ETF Distribution with J.P.Morgan’s Asset Management business. She was responsible for leading the sales and distribution efforts and strategy in the intermediary and institutional markets.

She also serves on the Board of Women in ETFs (WE), Inc, the first women’s group for the ETF industry, and served as Co-President from 2017-2019. Founded in 2014, WE achieves the mission to connect, support and inspire by organizing events globally that support our goals of education, networking, philanthropy.

Before joining J.P.Morgan in September 2015, Jillian was a Strategic Account Manager within BlackRock's iShares ETF Institutional Asset Management Group. She was responsible for developing and maintaining relationships with institutional investors, including boutique asset managers, global institutional asset managers, hedge funds and registered investment advisory firms.

Prior to joining iShares in March, 2009, Ms. DelSignore worked in the Independent Advisory Channel of Goldman Sachs Asset Management covering GSAM mutual funds, separate accounts, retirement plans, and alternative investments. She joined Goldman Sachs in 2005. Earlier, Ms. DelSignore worked in both the Institutional Corporate Cash and Global Bank Divisions at Federated Investors from 2000-2005.

Ms. DelSignore has a B.A. in Communications from John Carroll University and an M.B.A degree in Finance from the Katz Graduate School of Business at the University of Pittsburgh. She earned her CIMA designation from the Wharton School of Business at the University of Pennsylvania and holds the Series 3, 6, 7, 24 and 66 licenses.

Jillian DelSignore

Global Head of Investor Distribution Strategy | Nasdaq Global Indexes

Jillian DelSignore, CIMA, is Global Head of Investor Distribution Strategy, Indexes at Nasdaq.

Prior to joining Nasdaq, Jillian was Head of ETFs & Indexing at FLX Distribution. FLX is a first of its kind technology platform that brings together asset managers, distribution professionals, wealth managers, and advisors.

Before and during her time at FLX, she was the Principal of Lakefront Advisory advising financial services firms on accelerating their growth through initiating, scaling or changing their distribution strategy. Given her depth of experience in the ETF industry, she also helps her clients demystify the ETF ecosystem by advising on the intricacies of that market.

Before starting Lakefront Advisory, Jillian was Head of ETF Distribution with J.P.Morgan’s Asset Management business. She was responsible for leading the sales and distribution efforts and strategy in the intermediary and institutional markets.

She also serves on the Board of Women in ETFs (WE), Inc, the first women’s group for the ETF industry, and served as Co-President from 2017-2019. Founded in 2014, WE achieves the mission to connect, support and inspire by organizing events globally that support our goals of education, networking, philanthropy.

Before joining J.P.Morgan in September 2015, Jillian was a Strategic Account Manager within BlackRock's iShares ETF Institutional Asset Management Group. She was responsible for developing and maintaining relationships with institutional investors, including boutique asset managers, global institutional asset managers, hedge funds and registered investment advisory firms.

Prior to joining iShares in March, 2009, Ms. DelSignore worked in the Independent Advisory Channel of Goldman Sachs Asset Management covering GSAM mutual funds, separate accounts, retirement plans, and alternative investments. She joined Goldman Sachs in 2005. Earlier, Ms. DelSignore worked in both the Institutional Corporate Cash and Global Bank Divisions at Federated Investors from 2000-2005.

Ms. DelSignore has a B.A. in Communications from John Carroll University and an M.B.A degree in Finance from the Katz Graduate School of Business at the University of Pittsburgh. She earned her CIMA designation from the Wharton School of Business at the University of Pennsylvania and holds the Series 3, 6, 7, 24 and 66 licenses.

Tom Balcom CFP®, CAIA, MBA

Founder | 1650 Wealth Management

Tom began his career in the financial services industry in 1998, working at two of the nation’s largest brokerage firms. His passion for educating and protecting his clients’ wealth developed as he witnessed novice investors entrusting their life savings to “financial advisors” whose top priority was meeting their monthly sales quotas.

Tom aspired to differentiate himself from the crowd. He earned an MBA degree with a Specialization in Investments from the University of Miami in 2000 and became a fee-only, independent, registered investment advisor at a private wealth management firm in Miami. Tom earned the Certified Financial Planner (CFP®) designation in 2003 and the Chartered Alternative Investment Analyst (CAIA) designation in 2005.

In 2010, after gaining over a decade of private wealth management experience, Tom took his passion for educating and protecting his clients’ wealth and founded 1650 Wealth Management. 1650 Wealth Management is a fee-only, independent, private wealth management investment advisor. Tom neither sells investment products nor does he receive sales commissions. Tom focuses on actively managing and creating custom investment management strategies with the goal of protecting and growing his clients’ wealth.

Tom has spent a majority of his career studying and investing in alternative investments. He has spoken at numerous industry conferences including: Structured Products Americas Conference, MTN-I Structured Products Conference, Super Bowl of Indexing Conference, Innovative Alternative Strategies Conference, North American Structured Products Conference, Forum on Alternative Investments, Retail Alternative Investments, Private Wealth Southeast Forum, and the Financial Planning Association of Miami.

He is a contributing guest contributor for the Structured Products Daily publication and has been interviewed by top news and financial publications including: Bloomberg Businessweek, New York Times, CNBC, Investment News, Daily Business Review, CNNMoney.com, Registered Rep, SmartMoney, Forbes, Robb Report, Worth, Structured Retail Products, NerdWallet.com, SunSentinel.com, Florida Trend Magazine and the South Florida Business Journal.

He previously was as an adjunct professor within Barry University’s Personal Financial Planning program and in 2014, Tom was asked to serve as an expert witness on behalf of the Certified Financial Planner Board of Standards (CFP Board).

Originally from Nashua, New Hampshire, Tom has made South Florida his home for nearly 30 years. Tom and his family reside in Lighthouse Point, Florida. On the weekends, you may find Tom golfing (or attending his daughter’s junior golf tournaments), traveling, spending time with his family and actively supporting the University of Miami’s football and basketball teams.

Tom Balcom CFP®, CAIA, MBA

Founder | 1650 Wealth Management

Tom began his career in the financial services industry in 1998, working at two of the nation’s largest brokerage firms. His passion for educating and protecting his clients’ wealth developed as he witnessed novice investors entrusting their life savings to “financial advisors” whose top priority was meeting their monthly sales quotas.

Tom aspired to differentiate himself from the crowd. He earned an MBA degree with a Specialization in Investments from the University of Miami in 2000 and became a fee-only, independent, registered investment advisor at a private wealth management firm in Miami. Tom earned the Certified Financial Planner (CFP®) designation in 2003 and the Chartered Alternative Investment Analyst (CAIA) designation in 2005.

In 2010, after gaining over a decade of private wealth management experience, Tom took his passion for educating and protecting his clients’ wealth and founded 1650 Wealth Management. 1650 Wealth Management is a fee-only, independent, private wealth management investment advisor. Tom neither sells investment products nor does he receive sales commissions. Tom focuses on actively managing and creating custom investment management strategies with the goal of protecting and growing his clients’ wealth.

Tom has spent a majority of his career studying and investing in alternative investments. He has spoken at numerous industry conferences including: Structured Products Americas Conference, MTN-I Structured Products Conference, Super Bowl of Indexing Conference, Innovative Alternative Strategies Conference, North American Structured Products Conference, Forum on Alternative Investments, Retail Alternative Investments, Private Wealth Southeast Forum, and the Financial Planning Association of Miami.

He is a contributing guest contributor for the Structured Products Daily publication and has been interviewed by top news and financial publications including: Bloomberg Businessweek, New York Times, CNBC, Investment News, Daily Business Review, CNNMoney.com, Registered Rep, SmartMoney, Forbes, Robb Report, Worth, Structured Retail Products, NerdWallet.com, SunSentinel.com, Florida Trend Magazine and the South Florida Business Journal.

He previously was as an adjunct professor within Barry University’s Personal Financial Planning program and in 2014, Tom was asked to serve as an expert witness on behalf of the Certified Financial Planner Board of Standards (CFP Board).

Originally from Nashua, New Hampshire, Tom has made South Florida his home for nearly 30 years. Tom and his family reside in Lighthouse Point, Florida. On the weekends, you may find Tom golfing (or attending his daughter’s junior golf tournaments), traveling, spending time with his family and actively supporting the University of Miami’s football and basketball teams.

Tom Balcom CFP®, CAIA, MBA

Founder | 1650 Wealth Management

Tom began his career in the financial services industry in 1998, working at two of the nation’s largest brokerage firms. His passion for educating and protecting his clients’ wealth developed as he witnessed novice investors entrusting their life savings to “financial advisors” whose top priority was meeting their monthly sales quotas.

Tom aspired to differentiate himself from the crowd. He earned an MBA degree with a Specialization in Investments from the University of Miami in 2000 and became a fee-only, independent, registered investment advisor at a private wealth management firm in Miami. Tom earned the Certified Financial Planner (CFP®) designation in 2003 and the Chartered Alternative Investment Analyst (CAIA) designation in 2005.

In 2010, after gaining over a decade of private wealth management experience, Tom took his passion for educating and protecting his clients’ wealth and founded 1650 Wealth Management. 1650 Wealth Management is a fee-only, independent, private wealth management investment advisor. Tom neither sells investment products nor does he receive sales commissions. Tom focuses on actively managing and creating custom investment management strategies with the goal of protecting and growing his clients’ wealth.

Tom has spent a majority of his career studying and investing in alternative investments. He has spoken at numerous industry conferences including: Structured Products Americas Conference, MTN-I Structured Products Conference, Super Bowl of Indexing Conference, Innovative Alternative Strategies Conference, North American Structured Products Conference, Forum on Alternative Investments, Retail Alternative Investments, Private Wealth Southeast Forum, and the Financial Planning Association of Miami.

He is a contributing guest contributor for the Structured Products Daily publication and has been interviewed by top news and financial publications including: Bloomberg Businessweek, New York Times, CNBC, Investment News, Daily Business Review, CNNMoney.com, Registered Rep, SmartMoney, Forbes, Robb Report, Worth, Structured Retail Products, NerdWallet.com, SunSentinel.com, Florida Trend Magazine and the South Florida Business Journal.

He previously was as an adjunct professor within Barry University’s Personal Financial Planning program and in 2014, Tom was asked to serve as an expert witness on behalf of the Certified Financial Planner Board of Standards (CFP Board).

Originally from Nashua, New Hampshire, Tom has made South Florida his home for nearly 30 years. Tom and his family reside in Lighthouse Point, Florida. On the weekends, you may find Tom golfing (or attending his daughter’s junior golf tournaments), traveling, spending time with his family and actively supporting the University of Miami’s football and basketball teams.