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The BEA released the Personal Income and Outlays report for March: Personal income increased $122.0 billion (0.5 percent at a monthly rate) in March , according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI), personal income less personal current taxes, increased $104.0 billion (0.5 percent) and personal consumption expenditures (PCE) increased $160.9 billion (0.8 percent).
As clients become increasingly aware of the complexities of wealth transfer, asset protection and legacy planning, they expect comprehensive guidance from their advisors.
Here is a graph of the year-over-year change in shelter from the CPI report and housing from the PCE report this morning, both through March 2024. CPI Shelter was up 5.6% year-over-year in March, down from 5.8% in February, and down from the cycle peak of 8.2% in March 2023. Housing (PCE) was up 5.8% YoY in March , down slightly from 5.8% in January, and down from the cycle peak of 8.3% in April 2023.
Advisor Eric Franklin explains why the $39 million AUM firm switched from Wealthbox to Advyzon to centralize operations and why they may soon switch back.
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the Department of Labor released the final version of its Retirement Security Rule (a.k.a. the Fiduciary Rule 2.0), which is set to go into effect in September and (if it survives anticipated legal challenges) would represent a significant shift toward greater fiduciary standards in the financial services industry, including by defining as a fiduciary act a one-time recomm
Today, in the Calculated Risk Real Estate Newsletter: Fannie and Freddie: Single Family Serious Delinquency Rate Decreased, Multi-family Decreased in March Brief excerpt: Single-family serious delinquencies decreased in March, and multi-family serious delinquencies decreased again after the huge surge in January. Freddie Mac reports that the multi-family delinquencies rate declined to 0.34% in March, down from 0.35% in February, and down from 0.44% in January.
Today, in the Calculated Risk Real Estate Newsletter: Fannie and Freddie: Single Family Serious Delinquency Rate Decreased, Multi-family Decreased in March Brief excerpt: Single-family serious delinquencies decreased in March, and multi-family serious delinquencies decreased again after the huge surge in January. Freddie Mac reports that the multi-family delinquencies rate declined to 0.34% in March, down from 0.35% in February, and down from 0.44% in January.
This week, we speak with Dr. Ed Yardeni, President of Yardeni Research , a provider of global investment strategies and asset-allocation analyses and recommendations. He previously served as Chief Investment Strategist of Oak Associates, Prudential Equity Group, and Deutsche Bank’s US equities division in New York City. He taught at Columbia University’s Graduate School of Business and was an economist with the Federal Reserve Bank of New York and at the Federal Reserve Board of Governors and t
Here’s the lede from a Bloomberg article about rich people trying to avoid taxes in New York City: At New Jersey’s Teterboro and Long Island’s Islip airports, dozens of private jets destined for Florida take off at times such as 11:42 p.m. or 11:54 p.m. Over at JFK, a regular flight from San Juan, Puerto Rico, arrives at a seemingly purposeful time: about 15 minutes after midnight.
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
Hibbert, Kang, Kumar and Mishra provided us with yet another explanation: social media is providing analysts with information that reduces their forecasting errors. The result has been an increase in market efficiency, leading to a reduction in the PEAD anomaly. The bottom line is that the ability to generate alpha continues to be under assault—trying to outperform the market by stock selection is becoming even more of a loser’s game.
The S&P 500 capped off its best week of the year as it rose 2.67% from last Friday. The weekly gain ends the index's streak of three straight weekly losses. The index is currently up 7.53% year to date and now sits 2.94% below its record close from March 28, 2024.
Whether you are engaged or have recently married, developing a plan to combine finances with your partner can significantly reduce finance-related stress down the road by promoting transparency and simplicity in your relationship. According to a 2021 survey conducted by Ramsey Solutions , 41 percent of married couples said that they fight about finances.
Blending together assets/strategies with different attributes, correlations and expected behaviors plays a huge role in how I construct portfolios. This is something I've been doing and writing about for ages. The blending, when done effectively, can help smooth out the ride for clients which is a high priority for me. Forget that though. What if all someone cared about was beating the market, regardless of the volatility, regardless of the occasional, painful drawdown?
Like being inches from the end zone, many advisors are frustratingly close to their next level of success. You work hard. You put in the hours. But if your closing rate is stuck or your pipeline feels like a revolving door… something has to change. Most advisors are just one small shift away from dramatically increasing their revenue. The difference?
The BEA's Personal Income and Outlays report revealed inflation rose more than expected in March. Core PCE, the Fed's favored measure of inflation, was up 0.3% from February and was flat at 2.8% year-over-year. Inflation was expected to increase 0.3% month-over-month and cool to 2.6% year-over-year.
Guest: Catherine LeGraw is a member of GMO’s Asset Allocation Team. Recorded: 4/18/2024 | Run-Time: 45:15 Summary: In today’s episode, Catherine explains why this is “the best relative asset allocation opportunity we’ve seen in 35 years,” and “we are building portfolios with some of the highest forecasted relative and absolute returns we’ve ever seen.” She […] The post Episode #530: GMO’s Catherine LeGraw – Capitalizing on Global Asset Allocation in 2024 appe
With the release of March's report on personal incomes and outlays, we can now take a closer look at "real" disposable personal income per capita. At two decimal places, the nominal 0.47% month-over-month change in disposable income comes to 0.15% when we adjust for inflation. The year-over-year metrics are 3.58% nominal and 0.85% real.
As summer approaches, I know many of you are planning trips, so I want to share four “secrets” I use to help make your vacation planning a little easier. These may seem basic but in the last few years, I have saved hundreds of dollars and hours of my life! Travel credit cards – If you don’t have one already, travel credit cards are a great way to save hundreds of dollars on your next vacation.
Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.
The multi-trillion-dollar ESG fund industry faces a regulatory problem. By the end of 2025, funds with net assets of $1 billion or more must comply with the amendments to SEC Rule 35d-1, better known as the “names rule.” It requires funds with names that include ESG terms have at least 80% of the fund invested in assets that aligned with those terms.
In this blog I provide a quick take on whether or not it makes sense to try to get a job at a big investment firm after you graduate from college, or if it’s better to work at a smaller firm. The advantages of working at a big investment firm There are certain advantages to working at a big firm right after college. It will probably provide you with a more reputable name on your resume, and that’s a great asset in terms of providing credibility right away.
In the competitive landscape of the investment advisory industry, retaining top talent is essential for the long-term success and growth of investment advisory firms. To incentivize and reward key employees, investment advisors often turn to equity compensation tools.
Why don’t clients listen? Make them hang on every word you say by following these steps. Clients can be so stubborn! From a subscriber : “I have this one stubborn client who never does anything I say. I’m ready to throw in the towel.” I have four children under 10 years old (= chaos, btw). I find myself saying things like this: “If all four of you jump on Daddy’s back at the same time like that, he is going to wind up in the emergency room.” But nobody ever l
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.
The dust had barely settled after Silicon Valley Bank’s collapse last year when savvy investors began lining up for a big payout, based on a hastily written government press release.
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