The Big Picture
JUNE 13, 2024
@TBPInvictus here A few days ago, Barry and I detailed how unscrupulous bad actors had taken Not Seasonally Adjusted data to falsely claim that California’s new $20/hour minimum wage had cost the state almost 10,000 quick-serve restaurant (QSR) jobs. I wrote: It appears to me that the Journal got that number from BLS. However, BLS only offers the series without seasonal adjustment; this makes a very meaningful difference.
Wealth Management
JUNE 13, 2024
Sources close to the company say the clearing and custody firm has let go of its business consulting group and half a dozen people in its product group, just a week after its annual INSITE conference.
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Calculated Risk
JUNE 13, 2024
What this means: On a weekly basis, Realtor.com reports the year-over-year change in active inventory and new listings. On a monthly basis, they report total inventory. For April, Realtor.com reported inventory was up 35.2% YoY, but still down almost 34% compared to April 2017 to 2019 levels. Now - on a weekly basis - inventory is up 36.0% YoY. Realtor.com has monthly and weekly data on the existing home market.
Wealth Management
JUNE 13, 2024
According to data from insurance brokerage firm Golsan Scruggs, premiums have dropped by about half over the past year.
Speaker: Erroll Amacker
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
Abnormal Returns
JUNE 13, 2024
Big Tech Apple's ($AAPL) AI announcement(s) helped add some $200 billion in market cap. (axios.com) It's kind of shocking just how big, Big Tech has gotten. (sherwood.news) Commercial real estate Where distressed office building transactions are taking place. (nytimes.com) Office CMBS default rates are soaring. (mrzepczynski.blogspot.com) Apple New Apple ($AAPL) features could 'Sherlock' a number of third party apps.
Wealth Management
JUNE 13, 2024
Taking the steps to deliver better service, drive growth, and achieve your goals faster can result in extraordinary benefits.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Wealth Management
JUNE 13, 2024
It’s easy to obsess over expanding your practice but don’t let that stop you from taking the simple legal steps necessary to protect all your hard work.
Nerd's Eye View
JUNE 13, 2024
As the financial advice industry continues to move toward providing full-blown professional services rather than focusing primarily on product sales, advisory (advicery?) firms are increasingly experiencing similar stages of growth in their practices. From the initial stage of onboarding their first clients to the point of hitting a capacity wall and deciding whether to increase their headcount, and later to a threshold where an ensemble business eventually becomes an enterprise, advicers face m
Wealth Management
JUNE 13, 2024
Attorney Corey Kupfer offers advice to all advisors, whether considering change or not, including perspectives on contractual obligations and potential landmines one might encounter in a move.
Calculated Risk
JUNE 13, 2024
The DOL reported : In the week ending June 8, the advance figure for seasonally adjusted initial claims was 242,000 , an increase of 13,000 from the previous week's unrevised level of 229,000. The 4-week moving average was 227,000, an increase of 4,750 from the previous week's unrevised average of 222,250. emphasis added The following graph shows the 4-week moving average of weekly claims since 1971.
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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.
Wealth Management
JUNE 13, 2024
The Tuttle Capital Congressional Trading ETF will base its holdings on the current investments of members of Congress and their families.
Calculated Risk
JUNE 13, 2024
Today, in the Calculated Risk Real Estate Newsletter: Part 2: Current State of the Housing Market; Overview for mid-June 2024 A brief excerpt: Yesterday, in Part 1: Current State of the Housing Market; Overview for mid-June 2024 I reviewed home inventory, housing starts and sales. In Part 2, I will look at house prices, mortgage rates, rents and more.
Wealth Management
JUNE 13, 2024
As the financial services sector braces for yet another transformative period, the hybrid RIA firm of the future needs to adapt its recruiting efforts to attract top-tier talent.
Calculated Risk
JUNE 13, 2024
The BLS reported yesterday: The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 3.3 percent over the last 12 months to an index level of 308.163 (1982-84=100). For the month, the index increased 0.1 percent prior to seasonal adjustment. CPI-W is the index that is used to calculate the Cost-Of-Living Adjustments (COLA).
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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?
Wealth Management
JUNE 13, 2024
Improvements and integrations to the custodian's FMAX platform, and Envestnet's Insurance Exchange are among the updates to rollout.
Discipline Funds
JUNE 13, 2024
I am ready to call it. The Fed should cut rates. July would be the right time to start in my opinion. To be clear, I don’t think they will do this. I still think the baseline first cut is November because the next few inflation prints will appear sticky enough for the Fed to keep rates where they are. And the election is too close to the September meeting for them to initiate cuts then.
Wealth Management
JUNE 13, 2024
Emily Jaffe, president and Certified Divorce Financial Analyst at OFC Wealth Management, uses a customized technology stack at her $137 AUM firm to bring “Order From Chaos.
A Wealth of Common Sense
JUNE 13, 2024
A reader asks: I consider myself a good conservative money manager for my personal finances but recently I have been looking for a nice house that I can enjoy for years to come. I am 56 and an early retiree. I just sold my condo and now have a total of $3.6 million mostly invested in broad market ETFs except for the $450k in cash set aside for a new house.
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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.
Wealth Management
JUNE 13, 2024
The staffers, all in the firm’s wealth- and investment-management unit, were “discharged after review of allegations involving simulation of keyboard activity creating impression of active work.
Advisor Perspectives
JUNE 13, 2024
Wholesale inflation unexpectedly cooled last month. The producer price index for final demand decreased 0.2% month-over-month (s.a.). On an annual basis, headline PPI decelerated from 2.3% in April to 2.2% in May.
Wealth Management
JUNE 13, 2024
PGIM has been present in private credit for decades, but its plan for a major push is coming at a time when some of the industry titans are starting to worry if the boom is coming to an end.
XY Planning Network
JUNE 13, 2024
Unless you’ve been living under a rock in a deep cave on an uninhabited island, you’ve witnessed AI revolutionizing industries, carving new landscapes everywhere it touches—in what feels like nanoseconds. Financial planning is no exception. In this article we’re going to focus on the opportunities AI offers advisors to streamline operations and reduce costs regarding note and record-keeping.
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.
Wealth Management
JUNE 13, 2024
Tuesday, July 22, 2024 | 2:00 PM Eastern Daylight Time
NAIFA Advisor Today
JUNE 13, 2024
In the ever-evolving world of insurance, finding your niche and building lasting relationships are keys to success. For Chris Davenport, a seasoned professional in the field, his journey into the insurance business began unexpectedly but has since flourished into a fulfilling career dedicated to helping others protect their futures.
AdvicePay
JUNE 13, 2024
With the fee-for-service model, you can customize service offerings for clients seeking advice who don’t (yet) have traditional portfolio assets to transfer to your firm’s custodian for full-time management. This approach allows you to engage these clients by charging a fee that’s covered through their monthly cash flow. Much like the maintenance of a car ensures its longevity and optimal performance, financial planning demands both one-time and ongoing attention.
Advisor Perspectives
JUNE 13, 2024
Certain segments of the economy and stock market have experienced much stronger recoveries this year, underscoring a severe bifurcation between the "haves" and "have nots.
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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.
Random Roger's Retirement Planning
JUNE 13, 2024
A college buddy shared on Facebook that he is unexpectedly out of work and looking for a job. I know nothing of his financial situation so I am not talking about that. More generically, this is another anecdote of someone in their mid-50's who has had his hand forced. The reality is that it is not easy to find a job at that age, pretty much my age, that pays about the same.
Advisor Perspectives
JUNE 13, 2024
In the week ending June 8th, initial jobless claims were at a seasonally adjusted level of 242,000, an increase of 13,000 from the previous week's figure. The latest reading is higher than the forecast of 225,000 jobless claims and is the highest level since August 2023.
Carson Wealth
JUNE 13, 2024
What’s the #1 fear in retirement? Running out of money. Get our step-by-step guide to help ensure your assets last a lifetime. Download Guide The post 3 Methods to Not Run Out of Money appeared first on Carson Wealth.
Steve Sanduski
JUNE 13, 2024
Guests: Rick Kent , CEO of Merit Financial Advisors , a firm with $10 billion in advised assets. In a Nutshell: Almost all successful independent advisors eventually face a moment of truth. Do you want to maintain a safe, comfortable lifestyle practice where you get to keep serving your client base, set your own hours, and cash a good paycheck? Or do you want to become the strategic leader your firm needs to achieve meaningful scale and, potentially, 10X the impact you can have on your clients,
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
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