Nerd's Eye View

JANUARY 15, 2025

For most people, Social Security benefits are calculated using a single formula, which takes into account the individual's history of earning income on which they paid Social Security tax. But historically, a subset of workers that spent at least part of their careers in positions that did not pay Social Security tax – including many state and local government workers like teachers and police officers – have had their Social Security benefits reduced, sometimes down to $0.

Government 232

Government Retirement Planning Planning Retirement 232

Abnormal Returns

JANUARY 14, 2025

Strategy Vanguard investors are letting their equity allocations drift higher. (jeffreyptak.substack.com) It's counterintuitive, but frictions can make for better investors. (behaviouralinvestment.com) The markets are a mirror. (safalniveshak.com) Companies Corporate spinoffs are getting bigger and more complex. (axios.com) Databricks is raising venture debt.

Compliance 182

Compliance Communication Media Economy 182

Wealth Management

JANUARY 10, 2025

BofA announced it hired Ed Riley and Jessica Mullin several days after unveiling its new advisory group for ultra-high-net-worth clients based out of its Merrill Wealth division.

Banking 142

Banking Clients 142

The Big Picture

JANUARY 17, 2025

My end-of-week morning train reads: The Plethora of Unknowns Means Questions for Bond Investors in 2025 : Private and global credit offerings could provide diversification as debt markets deal with political and policy uncertainty. ( Chief Investment Officer ) After a Great Run for Stocks, Be Ready for Something Different : Sizzling returns may well continue, but our columnist suggests that it would be wise to prepare for the next storm. ( New York Times ) Mega Cap World Domination :Markets a

Valuation 130

Valuation Medical Portfolio Investments 130

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It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

Accounting

Calculated Risk

JANUARY 10, 2025

The headline jobs number in the December employment report was well above expectations, however, October and November payrolls were revised down by 8,000 combined. The participation rate was unchanged, the employment population ratio increased, and the unemployment rate decreased to 4.1%. Earlier: December Employment Report: 256 thousand Jobs, 4.1% Unemployment Rate Prime (25 to 54 Years Old) Participation Since the overall participation rate is impacted by both cyclical (recession) and demograp

Numbers 111

Numbers Economics 111

Nerd's Eye View

JANUARY 10, 2025

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the "Social Security Fairness Act" was signed into law this week, eliminating the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) provisions, which previously reduced the Social Security benefits of individuals who worked in both "covered" (jobs for which they paid into the Social Security system) and "non-covered" (those in which they didn't,

Financial Planner 165

Financial Planner Clients Financial Advice Numbers 165

Wealth Management

JANUARY 13, 2025

The regulator found firm employees were using unapproved texting apps for business and failing to archive the communications. It follows earlier settlements made with large firms like Bank of America, Morgan Stanley, LPL and Raymond James.

Communication 115

Communication Banking 115

The Big Picture

JANUARY 10, 2025

This week, we speak with Brian Hurst , the Founder and Chief Investment Officer of ClearAlpha. Prior to founding ClearAlpha, Brian spent 21 years at AQR Capital Management as a portfolio manager, researcher, head of trading, and the firm’s first non-founding Partner. He was also Cliff Asness’ first hire at GSAM. Hurst was instrumental in designing and implementing AQR’s trading platform.

Portfolio Management 147

Portfolio Management Risk Management Education Portfolio 147

A Wealth of Common Sense

JANUARY 14, 2025

One of my favorite market datasets just got its annual update. Aswath Damodaran at NYU publishes a yearly update of returns for stocks (S&P 500), bonds (10 year Treasuries), cash (3-month T-bills), real estate, gold and inflation going back to 1928. Plus this year he added small caps to the mix.1 These are the long-term returns for each asset class from 1928-2024: Stocks +9.94% Small caps +11.74% Bonds +4.50% Cash +3.

Assets 111

Assets Marketing Marketing 111

Nerd's Eye View

JANUARY 14, 2025

Welcome everyone! Welcome to the 420th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Michelle Underwood Gass. Michelle is the Founding Principal of Paradigm Advisors, an RIA based in Dallas, Texas, that oversees approximately $110 million in assets under management for 80 client households. What's unique about Michelle, though, is the way she created a structured meeting process to navigate around the places where new clients often get stuck, standardized thei

Financial Planning 130

Financial Planning Clients Planning Financial Advisor 130

Speaker: Sierre Lindgren

Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.

Assets

Abnormal Returns

JANUARY 15, 2025

Podcasts Khe Hy talks with Christine Benz author of "How to Retire: 20 Lessons for a Happy, Successful and Wealthy Retirement." (youtube.com) Dan Haylett talks with Dr. Jordan Grumet author of "The Purpose Code: How to Unlock Meaning, Maximize Happiness, and Leave a Lasting Legacy." (humansvsretirement.com) Peter Lazaroff on what you need to know when choosing a financial advisor.

Retirement 162

Retirement Tax Planning Taxes Budgeting 162

Wealth Management

JANUARY 13, 2025

According to a lawsuit filed in Ohio federal court, Paul Saba created fictitious email addresses to falsely accuse two Raymond James employees of assault, insider trading and supporting a networking group for neo-Nazis.

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The Big Picture

JANUARY 17, 2025

This week, we speak with Jonathan Clements. He has been a personal finance reporter at the Wall Street Journal for over twenty years and has written more than 1,000 columns. He discusses how he became a financial journalist, and eventually Director of Financial Education for Citi Personal Wealth Management. Last summer, Jonathan received a terminal diagnosis and announced it at his site and on social meda.

Wealth Management 130

Wealth Management Financial Services Education Insurance 130

Clever Girl Finance

JANUARY 10, 2025

If someone asked what your money values were, would you know how to answer? Or would you find yourself searching for a response and coming up blank? Our values are a key part of who we are, yet we often don’t take the time to intentionally think about, define, and understand themespecially when it comes to money. For anyone looking to transform their relationship with finances, figuring out your money principles is a great first step.

Ethics 94

Ethics Budgeting Retirement Accounting 94

Speaker: Aaron Berson

Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g

Management

Nerd's Eye View

JANUARY 13, 2025

With another strong year in the markets, most advisory firms are near or at record highs for their revenue, their numbers of clients, and the headcounts of their teams. Which is surprising to some, given that a decade ago, the emergence of so-called "robo-advisors" was supposed to displace human financial advisors and compress advisory fees. In reality, though, the robos struggled to gain traction, and the human financial advice business just continues to grow.

Financial Advice 130

Financial Advice Ethics Financial Planning Education 130

Abnormal Returns

JANUARY 14, 2025

C-suite Narcissistic CEOs take unnecessary risks. (on.ft.com) Why some female CEOs get downgraded by investors. (klementoninvesting.substack.com) The bigger a firm gets, the more it spends on lobbying. (papers.ssrn.com) Research How much of the S&P 500's returns in 2024 came from idiosyncratic factors? (mailchi.mp) Don't forget that active ETFs can be sold short.

Management 162

Management Marketing Marketing 162

Wealth Management

JANUARY 13, 2025

AI plus remote work are boosting employee productivity, resulting in massive changes affecting benefits and 401(k) plans.

Planning 114

Planning 114

Calculated Risk

JANUARY 15, 2025

From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey Mortgage applications increased 33.3 percent from one week earlier, according to data from the Mortgage Bankers Associations (MBA) Weekly Mortgage Applications Survey for the week ending January 10, 2025. Last weeks results included an adjustment for the New Years holiday. The Market Composite Index, a measure of mortgage loan application volume, increased 33.3 percent on a seasonally adjusted basis from one week earlier.

Budgeting 108

Budgeting Marketing Marketing 108

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

Accounting

A Wealth of Common Sense

JANUARY 12, 2025

Most investors would like the world of finance to exist in black or white. Just tell me when to buy or sell, get bullish or bearish, buy this stock or avoid that one, go all in or get out of the market. Markets are hard because most things exist in shades of gray. It’s difficult to be certain about anything because no one knows what the future holds and the past can be unreliable when used incorrectly.

Marketing 119

Marketing Marketing 119

Nerd's Eye View

JANUARY 17, 2025

Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that at a time when brokerage firms' cash sweep programs come under increased scrutiny (and as the Federal Reserve has cut interest rates), Charles Schwab (the largest RIA custodian) continues to slash sweep rates for client cash (down to 0.05%), well below the rates available on other cash-like products, leaving advisors on the platform with the task of determining wheth

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Abnormal Returns

JANUARY 13, 2025

Markets Luke Kawa, "The idea that the stock market is always and everywhere rooting for lower interest rates, even if it requires outright weakness in the US job market to get them, is not consistently borne out by the data, to say the least." (sherwood.news) Bond yields are rising around the globe, not just the U.S. (wsj.com) Fund management Don't confuse 'yield' for a return of capital.

Media 162

Media Planning Management Marketing 162

Wealth Management

JANUARY 13, 2025

Hack VC's Peter Hans prognosticates about the year to come in.

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Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

Accounting

Calculated Risk

JANUARY 14, 2025

Today, in the Calculated Risk Real Estate Newsletter: Part 1: Current State of the Housing Market; Overview for mid-January 2025 A brief excerpt: This 2-part overview for mid-January provides a snapshot of the current housing market. I always focus first on inventory, since inventory usually tells the tale ! Im watching months-of-supply closely. New home inventory, as a percentage of total inventory, is still very high.

Marketing 100

Marketing Marketing Numbers Sales 100

Advisor Perspectives

JANUARY 10, 2025

Official recession calls are the responsibility of the NBER Business Cycle Dating Committee, which is understandably vague about the specific indicators on which they base their decisions. There is, however, a general belief that there are four big indicators that the committee weighs heavily in their cycle identification process.

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A Wealth of Common Sense

JANUARY 16, 2025

We also answered questions about 2025 retirement account limits, Coast FIRE strategies, when to take money off the table from the stock market, how to account for pension and Social Security income during retirement and how other economies impact the U.S. markets. Further Reading: Updating My Favorite Performance Chart For 2024 The post The 2024 Sector Quilt appeared first on A Wealth of Common Sense.

Retirement 125

Retirement Accounting Economy Marketing 125

Abnormal Returns

JANUARY 17, 2025

Listening How Google's Daily Listen turns your interests into a short podcast. (engadget.com) Do you really want to listen to AI podcast hosts? (forbes.com) Economy Danny Crichton talks with Byrne Hobart and Tobias Huber authors of the new book "Boom: Bubbles and the End of Stagnation." (podcasts.apple.com) Katie Gatti Tassin talks about the economics of weight loss drugs.

Economics 147

Economics Economy Investments Investing 147

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Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.

Planning

Wealth Management

JANUARY 15, 2025

Helping clients address the roots of large societal problems is about more than writing checks.

Clients 111

Clients 111

Darrow Wealth Management

JANUARY 13, 2025

Can I buy another house before I sell mine? Updated for 2025. Because who wants to move twice? To buy a new house while selling yours (or selling and buying a home at the same time), you need cash and potentially the ability to carry two mortgages. Although challenging, here are seven options for buyers looking to buy a new home before selling the old house.

Taxes 97

Taxes Sales Portfolio Accounting 97

Advisor Perspectives

JANUARY 15, 2025

The median US income in 2023 was $80,610, up from $22,420 in 1984 — a 260% rise over the 39-year time frame. However, if we adjust for inflation chained in 2023 dollars, the 1984 median is $55,828, and the increase drops to 37%.

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Calculated Risk

JANUARY 10, 2025

A few excerpts from a Goldman Sachs research note: Nonfarm payrolls rose 256k in December, well above consensus expectations. The household survey was also strong. The unemployment rate fell 0.15pp to 4.09%, reflecting a 478k gain in household employment and an unchanged labor force participation rate, at 62.5%. Following this mornings data, we now expect the FOMC to deliver two 25bp cuts this year (vs. three previously) at its June and December meetings, followed by another cut in June 2026, to

Marketing 106

Marketing Marketing 106

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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.

Banking