Fri.Oct 06, 2023

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Growth, Growth Baby!

Wealth Management

Nitrogen’s annual Fearless Investing Conference was a clarion call to advisors for navigating waves of change, with a curated agenda laser-focused on growth through adaptation, agility and optimism.

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Comments on September Employment Report

Calculated Risk

The headline jobs number in the September employment report was well above expectations, and employment for the previous two months was revised up by 119,000, combined. The participation rate and the employment population ratio were both unchanged, and the unemployment rate was also unchanged at 3.8%. Leisure and hospitality gained 96 thousand jobs in September.

Numbers 312
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The Word on WealthTech for October 2023

Wealth Management

F2 Strategy's co-founder and CEO provides his take on the most important wealthtech news of the last month.

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Wholesale Used Car Prices Increased 1.0% in September; Down 3.9% Year-over-year

Calculated Risk

From Manheim Consulting today: Wholesale Used-Vehicle Prices See Minimal Increase in August Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) increased 1.0% in September from August. The Manheim Used Vehicle Value Index (MUVVI) rose to 214.3, down 3.9% from a year ago. “September auction sales bolstered prices through the channel,” said Chris Frey, senior manager of Economic and Industry Insights for Cox Automotive.

Retail 302
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Data Talks, CFOs Listen: Why Analytics Is The Key To Better Spend Management

Speaker: Claire Grosjean

Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.

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Will Dianne Feinstein’s Legal Drama Continue Following Her Death?

Wealth Management

The multiple active lawsuits involving the senator's late husband's estate will likely be paused while her own estate is probated.

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Friday links: foolishly reckless

Abnormal Returns

Strategy Defining what you will invest in, versus what you will not invest in, is important. (awealthofcommonsense.com) Why simplicity in investing can help reduce errors. (mrzepczynski.blogspot.com) Apple Apple's ($AAPL) USB-C transition is going to be rocky. (macworld.com) A review of the Apple ($AAPL) iPhone 15 Pro and Pro Max. (sixcolors.com) Vaccines How research into mRNA vaccinations very nearly didn't happen.

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Podcast links: audiobook ambitions

Abnormal Returns

The biz Spotify ($SPOT) has big audiobook ambitions. (nytimes.com) Amazon ($AMZN) is shuttering its Amp audio app. (theverge.com) On the layoffs at Pushkin Industries. (nypost.com) Business Derek Thompson talks with Matthew Ball and Julia Alexander about the state of Disney ($DIS) today. (theringer.com) Roben Farzad talks with Angela Romero and Matthew Boyle about MBA grads buying companies.

Assets 264
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Top RIAs on The Current Investing Climate: Mercer Advisors

Wealth Management

Mercer Advisors CIO Don Calcagni likes non-U.S. equities, value stocks and private credit.

Investing 305
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Weekend Reading For Financial Planners (October 7-8)

Nerd's Eye View

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that a recent survey found that clients across several countries who work with a CFP professional have better outcomes on a range of measures compared to those working with other advisors or no advisor at all, suggesting that the potential benefits of gaining CFP certification can accrue not only to the advisor themselves, but also to their clients.

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WealthStack Roundup: Apex To Launch Fractional Fixed Income Platform

Wealth Management

Also, Morgan Stanley launches a charitable giving program, Vyzer raises $6.3 million in seed funding and Modern Life Adds John Hancock strategies.

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What Your Financial Statements Are Telling You—And How to Listen!

Speaker: David Worrell, CFO, Author & Speaker

Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.

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Historical S&P 500 Return Calculator

The Big Picture

I have been playing with Nick’s S&P 500 calculator , and it’s pretty damned, cool. He used data from Robert Shiller’s website and created his own interface going all the way back to 1871. (The default assumes your dividends are reinvested). You can see why RWM hired Nick as our Chief Data Scientist… The post Historical S&P 500 Return Calculator appeared first on The Big Picture.

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The WealthStack Podcast: Delivering Better, Data-Driven Outcomes for Clients with Joe Stensland

Wealth Management

BridgeFT CEO Joe Stensland talks APIs and wealthtech-as-a-service.

Clients 303
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AAR: September Rail Carloads and Intermodal Increased Year-over-year

Calculated Risk

From the Association of American Railroads (AAR) Rail Time Indicators. Graphs and excerpts reprinted with permission. As is usually the case, in September some rail sectors did better than others. There were clearly some good signs. For example, U.S. intermodal originations in September 2023 averaged 252,224 containers and trailers per week, the most for any month since October 2022.

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RIA Week-End Roundup: Snowden Lane Adds $200M in Assets with UBS Team

Wealth Management

Snowden Lane adds UBS duo with $200M in assets, PCIA moves into Memphis, another rebrand is announced and women are named to key roles at Choreo, Lido and Carson.

Assets 299
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Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

Speaker: Erroll Amacker

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

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September Employment Report: 336 thousand Jobs, 3.8% Unemployment Rate

Calculated Risk

From the BLS : Total nonfarm payroll employment rose by 336,000 in September, and the unemployment rate was unchanged at 3.8 percent , the U.S. Bureau of Labor Statistics reported today. Job gains occurred in leisure and hospitality; government; health care; professional, scientific, and technical services; and social assistance. The change in total nonfarm payroll employment for July was revised up by 79,000, from +157,000 to +236,000, and the change for August was revised up by 40,000, from +1

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Top RIAs on The Current Investing Climate: Fidelis Capital Partners

Wealth Management

Fidelis Capital Pattners Investment Research Analyst Nick Smith likes Japan and expanding the firm's levels of interest rate risk.

Investing 299
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Oct 6th COVID Update: Deaths and Hospitalizations Increased

Calculated Risk

Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Due to changes at the CDC, weekly cases are no longer updated. For deaths, I'm currently using 3 weeks ago for "now", since the most recent two weeks will be revised significantly. Recently hospitalizations have tripled from a low of 5,150 in June 2023. Hospitalizations had been increasing (down this week) but are far below the peak of 150,000 in January 2022.

Numbers 182
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Top RIAs on The Current Investing Climate: Cresset

Wealth Management

Cresset CIO Jack Ablin likes private credit, U.S. large caps and public and private equity.

Investing 298
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Book of Secrets on the Month-End Close

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.

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1st Look at Local Housing Markets in September; Early Reporting Markets suggest Sales at New Cycle Low in September

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: 1st Look at Local Housing Markets in September A brief excerpt: This is the first look at several early reporting local markets in September. I’m tracking about 40 local housing markets in the US. Some of the 40 markets are states, and some are metropolitan areas. I’ll update these tables throughout the month as additional data is released.

Sales 182
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Top RIAs on The Current Investing Climate: Crescent Grove Advisors

Wealth Management

Co-CIO Andrew Krei likes higher quality fixed income, venture capital and private equity, while avoiding AI.

Investing 298
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Zuckerberg vs OpenAI

The Reformed Broker

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Alex Kantrowitz, and Downtown Josh Brown discuss the big tech landscape, AI competition, augmented reality, Michael Lewis and SBF, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods! Listen here: Apple podcasts Spotify podcasts Google podcasts Everywhere else!

Marketing 152
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Top RIAs on The Current Investing Climate: NewEdge Wealth

Wealth Management

CIO Cameron Dawson is maintaining a focus on quality, especially with large-cap high-quality biotech equities.

Investing 298
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Stop Falling Short When It Matters Most—The Elite Advisor’s Playbook to Success

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?

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Q3 GDP Tracking: Moving on up!

Calculated Risk

From BofA: Overall, the data flow since our last weekly pushed up our 3Q US GDP tracking estimate from 2.8% to 3.7% q/q saar. [Sept 29th estimate] emphasis added From Goldman: [We] boosted our Q3 GDP tracking estimate by 0.3pp to 3.7% (qoq ar). Our domestic final sales growth forecast stands at +2.4%. [Oct 5th estimate] And from the Altanta Fed: GDPNow The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2023 is 4.9 percent on October 5, unchang

Economics 150
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Top RIAs on The Current Investing Climate: Carson Group

Wealth Management

Carson Group Chief Market Strategist Ryan Detrick likes equities, with a focus on cyclicals and small caps.

Investing 298
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Why Are Interest Rates Spiking?

A Wealth of Common Sense

The bond market continues to be even crazier than the stock market. We’ve witnessed a massive move in long-term bond yields these past couple of weeks and months. Yields on the 10, 20 and 30 year Treasury were all up in the neighborhood of 60 basis points over the past 16 trading sessions. Yields are up 1% or more on each of these bond maturities since the end of June.

Marketing 137
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Top RIAs on The Current Investing Climate: Wealth Enhancement Group

Wealth Management

Vice President of Portfolio Consulting Gary Quinzel likes large-cap developed international equities, value stocks and is implementing a barbell strategy for both U.S. Treasuries and municipal bonds.

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Demo SkyStem’s Award Winning Month-End Close Solution & Earn $100

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.

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Things Don’t Make Sense

The Irrelevant Investor

This tweet last week caught my attention. Current situation: 1. Stocks are falling like a recession is coming 2. Oil prices are rising like there's no recession in sight 3. Interest rates are rising like we have 10% inflation 4. Gold is falling like inflation is gone 5. Housing prices are rising like rates are… — The Kobeissi Letter (@KobeissiLetter) September 27, 2023 It’s been a weird couple of month.

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How the Largest RIAs Are Investing Now

Wealth Management

"Higher-for-longer" interest rates, earnings volatility, multiple expansion. Chief investment officers from nine of the largest RIAs reveal how they are tweaking client portfolios in response to the markets, and detail their best investment ideas right now.

Investing 290
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Make Your Money Work for Your Happiness, Not the Other Way Around

Integrity Financial Planning

While some people idealize retirement as a time of leisure, many people often view retirement as a time of financial constraint and worry. For these reasons, you might think that your money and savings will dictate your happiness. But what if we changed the narrative? What if retirement was a time when your money worked for your happiness instead of requiring you to sacrifice that happiness?

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Will Diane Feinstein’s Legal Drama Continue Following Her Death?

Wealth Management

The multiple active lawsuits involving the senator's late husband's estate will likely be paused while her own estate is probated.

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Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

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.