The Big Picture
AUGUST 12, 2024
I’m deep in my book writing work discussing federal debt when I see a tweet that simply epitomizes the entire genre. Full disclosure: My priors on federal debt are that I don’t know where the line of too much should be drawn, but I do know that none of the terrible things we were warned about over the past 50 years due to excess debt have come to pass.
Abnormal Returns
AUGUST 12, 2024
Fidelity Fidelity has released two technology packages for small and mid-sized RIAs. (citywire.com) Hopes are high for the Fidelity/Advyzon service offering. (riabiz.com) Altruist Altruist is shifting more clients onto its own custodian platform. (riabiz.com) The latest in financial advisortech including a look at Altruist' new product offerings. (kitces.com) Advisers Why private equity is going after retail investors: fees, high fees.
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Nerd's Eye View
AUGUST 12, 2024
In the modern era of financial advice, the advicer/client relationship is tightly centered on trust. And because of that foundation of trust, in an ideal advisor/client relationship, mistakes, disagreements, and concerns are surfaced quickly; action items are agreed and acted upon by everyone involved; and everyone feels aligned and accountable to their overall objectives.
Abnormal Returns
AUGUST 12, 2024
Markets Callie Cox, "Your portfolio’s success depends on your behavior during the wild panics." (optimisticallie.com) Just how high did the VIX get last week? (ft.com) Media Why Apple ($AAPL) should. buy Warner Bros. Discovery ($WBD). (spyglass.org) Disney ($DIS) is not done investing in parks. (wsj.com) Matt Belloni talks with Rich Greenfield about the linear TV meltdown.
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.
Wealth Management
AUGUST 12, 2024
Our columnist sees the future of wealthtech in a small band of young entrepreneurs solving the “lead generation” problem.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Wealth Management
AUGUST 12, 2024
Estate planning and financial planning are two peas in a pod that are becoming inextricably tied.
Advisor Perspectives
AUGUST 12, 2024
Exaggerated concerns about the viability of Social Security continue to circulate like a persistent urban legend that refuses to die. They have only intensified during the political silly season leading up to the November elections.
Wealth Management
AUGUST 12, 2024
The sustained popularity of ETFs is threatening to take market share aware from separately managed accounts, according to Financial Times. The increased volatility in equities markets in recent weeks has been a boon for some parts of the bond market as investors seek safety, reports Morningstar. These are among the investment must reads we found this week for wealth advisors.
Carson Wealth
AUGUST 12, 2024
One of the most volatile weeks in a while saw the S&P500 rally late in the week to finish flat for the week overall. This recent patch of volatility is really quite normal, even for good years for stocks. August is known for volatility and once again, it’s living up to its reputation. The late week rebound was supported by better economic data, including some good jobs-related numbers.
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.
Wealth Management
AUGUST 12, 2024
In a call for a class action lawsuit, Daniel Varady argues that Wells customers “received artificially and unreasonably low rates” on uninvested cash swept into deposit accounts.
Calculated Risk
AUGUST 12, 2024
Altos reports that active single-family inventory was up 1.3% week-over-week. Inventory is now up 40.2% from the February seasonal bottom. Click on graph for larger image. This inventory graph is courtesy of Altos Research. As of August 9th, inventory was at 693 thousand (7-day average), compared to 684 thousand the prior week. This is the highest level of inventory since June 2020 ; however, inventory is still well below pre-pandemic levels.
Wealth Management
AUGUST 12, 2024
How plans, providers and advisors need to adjust to changes going on in the world.
Calculated Risk
AUGUST 12, 2024
The key economic report this week is July CPI to be released on Wednesday. The consensus is for a 0.2% increase in CPI, and a 0.2% increase in core CPI. The consensus is for CPI to be up 3.0% year-over-year and core CPI to be up 3.2% YoY. From BofA: We forecast headline CPI rose by 0.3% m/m in July, owing mainly to a pickup in core services inflation and energy prices.
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Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.
Wealth Management
AUGUST 12, 2024
The custodial platform will get access to Advyzon’s third-party asset managers, while Advyzon’s clients will be able to use Innovayte’s investment management services.
Calculated Risk
AUGUST 12, 2024
From Matthew Graham at Mortgage News Daily: Mortgage Rates Effectively Unchanged to Begin New Week Today was completely different than the previous Monday in that it was a normal, boring day with essentially no change in mortgage rates over the weekend. This could change in the coming days as important new economic reports are released. Wednesday's Consumer Price Index (CPI) is the biggest deal, but tomorrow's Producer Price Index (PPI) could play a supporting role. [ 30 year fixed 6.55% ] empha
Wealth Management
AUGUST 12, 2024
Unlike the majority of Americans, the vice presidential nominee isn’t in the market.
Calculated Risk
AUGUST 12, 2024
Today, in the Calculated Risk Real Estate Newsletter: 2nd Look at Local Housing Markets in July A brief excerpt: NOTE: The tables for active listings, new listings and closed sales all include a comparison to July 2019 for each local market (some 2019 data is not available). This is the second look at local markets in July. I’m tracking over 40 local housing markets in the US.
Speaker: Igli Laci, Strategic Finance Leader
In today’s competitive market, pricing is more than just a number — it’s the cornerstone of profitability. The right pricing strategy ensures that you capture the true value of your offering, paving the way for sustainable growth and long-term success. Join Igli Laci, Strategic Finance Leader, in this exclusive session where he will explore how a well-crafted pricing approach balances customer perception with business objectives, creating a powerful tool for securing both competitive advantage a
Wealth Management
AUGUST 12, 2024
The sustained popularity of ETFs is threatening to take market share aware from separately managed accounts, according to Financial Times. The increased volatility in equities markets in recent weeks has been a boon for some parts of the bond market as investors seek safety, reports Morningstar. These are among the investment must reads we found this week for wealth advisors.
Advisor Perspectives
AUGUST 12, 2024
The weekly leading economic index (WLEI) is a composite for the U.S economy that draws from over 20 time-series and groups them into the following six broad categories which are then used to construct an equally weighted average. As of August 2nd, the index was at 18.418, up 2.189 from the previous week, with 4 of the 6 components in expansion territory.
Wealth Management
AUGUST 12, 2024
Rose Advisors' Patrick Fruzzetti details what advisors should consider when building investment portfolios for the current market environment.
Alpha Architect
AUGUST 12, 2024
This article provides detailed insights into how high school financial education policies are implemented at the local level. High school financial education courses in the United States was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.
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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.
Norman Marks
AUGUST 12, 2024
I recently got into a debate with a friend (a former CAE) about whether internal audit is prevented from doing its full job because of its SOX testing demands. This seems to be a topic that won’t die – although it should!
XY Planning Network
AUGUST 12, 2024
In an environment where competing for and winning new clients is only getting harder, providing comprehensive financial planning isn’t enough to set you apart from the competition anymore. According to Kitces’ latest report, How Financial Planners Actually Market Their Services, for firms to be successful, marketing needs to be regarded as an ongoing and key operational component of the firm and not just something advisors do as time and resources allow.
Random Roger's Retirement Planning
AUGUST 12, 2024
The S&P 500 will double from here. Think about it. If you believe in American capitalism you know it will happen. Knowing that it will happen makes engaging in markets much easier on the nerves. I'm being kind of snarky. Oh, it will double, that's going to happen but we cannot know how long it will take and we cannot know what the path to 11000 will be.
Cornerstone Financial Advisory
AUGUST 12, 2024
Weekly Market Insights | August 12th, 2024 Stocks Fall, Speculation Slows Down. Stocks ended last week with modest losses, masking a volatile five-day trading period that saw investors embrace recession concerns and then dismiss the slow-down talk as speculation as the week progressed. The Dow Jones Industrial Average slipped 0.60 percent, while the Standard & Poor’s 500 Index ended flat (-0.04 percent).
Speaker: Hilary Akhaabi, PhD - Founder, Chief Financial & Operations Officer at Go Africa Global
In the fast-paced world of corporate finance, staying ahead of the curve is crucial for sustainable growth and profitability. This exclusive webinar with leading expert Hilary Akhaabi, PhD, will teach you practical ways to navigate complex financial landscapes and enhance your company's revenue management capabilities. Whether you're aiming to refine your financial strategies or seeking innovative solutions to drive performance, this new session is for you!
Advisor Perspectives
AUGUST 12, 2024
Six of our eight indexes on our world watch list have posted gains through August 12th, 2024. The U.S.'s S&P 500 finished in the top spot with a YTD gain of 12.68%. India's BSE SENSEX finished in second with a YTD gain of 10.79% while London's FTSE 100 finished in third with a YTD gain of 6.33%.
Don Connelly & Associates
AUGUST 12, 2024
It's no exaggeration to say that the initial meeting with a prospective client is a make-or-break moment that sets the tone for the relationship and determines whether it will continue in a second meeting. The initial meeting is a crucial dance between the advisor and a naturally skeptical prospect who wants to know why they should work with you. In a crowded field of financial advisors, the initial meeting presents a critical opportunity to differentiate yourself.
Advisor Perspectives
AUGUST 12, 2024
A dizzying start to August, which saw US stocks whiplashed by economic jitters, lackluster earnings and the unwinding of the global yen carry trade, has left Wall Street searching for corners of the market that may have been unfairly punished.
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