Savvy Adds Four Advisors With Combined $170M
Wealth Management
MAY 23, 2024
The digital-focused advisory recruits advisors from UBS, Farther and others, bringing its total assets to over $400 million.
Thu.May 23, 2024
306 
Thursday links: unintentionally bond heavy
Abnormal Returns
MAY 23, 2024
Strategy How modern investment scams use stolen identities to work. (sherwood.news) Bad actors are abusing your most valuable asset, attention. (theirrelevantinvestor.com) Companies DuPont ($DD) is splitting into three companies. (edition.cnn.com) Live Nation ($LYV) is being sued by the DoJ for anti-trust violations. (hollywoodreporter.com) More companies are mentioning AI in their earnings calls.
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How I Plan to Raise $10B for Charity
Wealth Management
MAY 23, 2024
A convergence of factors creates a tsunami of opportunities for advisors to demonstrate their value.
Weekly Initial Unemployment Claims Decrease to 215,000
Calculated Risk
MAY 23, 2024
The DOL reported : In the week ending May 18, the advance figure for seasonally adjusted initial claims was 215,000 , a decrease of 8,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 222,000 to 223,000. The 4-week moving average was 219,750, an increase of 1,750 from the previous week's revised average.
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.
iCapital Starts Using Blockchain for a Private Fund
Wealth Management
MAY 23, 2024
iCapital anticipates expanding its digital ledger technology to more funds on its platform later in the year.
Realtor.com Reports Active Inventory Up 35.5% YoY; Most Homes For Sale Since July 2020
Calculated Risk
MAY 23, 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 30.4% YoY, but still down almost 36% compared to April 2017 to 2019 levels. Now - on a weekly basis - inventory is up 35.5% YoY. Realtor.com has monthly and weekly data on the existing home market.
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Friday: Durable Goods
Calculated Risk
MAY 23, 2024
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Friday: • At 8:30 AM ET, Durable Goods Orders for April from the Census Bureau. The consensus is for a 0.6% decrease in durable goods orders. • At 10:00 AM, University of Michigan's Consumer sentiment index (Final for May). The consensus is for a reading of 67.4.
Advisor Sentiment Index: Confidence in Stock Market, Economy Drops
Wealth Management
MAY 23, 2024
Financial advisors were split on the current state of the economy, while a majority held a positive view of the stock market in April, according to WealthManagement.com's Advisor Sentiment Index.
New Home Sales Decrease to 634,000 Annual Rate in April
Calculated Risk
MAY 23, 2024
Today, in the Calculated Risk Real Estate Newsletter: New Home Sales Decrease to 634,000 Annual Rate in April Brief excerpt: Note: there were some seasonal revisions back to 2019, and significant changes to house prices and price distribution in this release. The Census Bureau reports New Home Sales in April were at a seasonally adjusted annual rate (SAAR) of 634 thousand.
The Diamond Podcast for Financial Advisors: A Blueprint for Building a Wealth Management Enterprise to $3B and Beyond
Wealth Management
MAY 23, 2024
After a dozen years in the wirehouse world, Reza Zamani began to recognize the limitations inherent to the model. So in 2012, he left to launch SteelPeak Wealth with $250 million in AUM. Today, it manages $3 billioon with 20 advisors on the team.
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.
Who’s to Blame For the Broken Housing Market?
A Wealth of Common Sense
MAY 23, 2024
A reader asks: Do you guys really think foreign investsments and private equity really aren’t driving up housing prices? It really seems like it is. I understand the sentiment here. The housing market is broken right now for a lot of people. The blame is simply misplaced here. It’s not Blackrock or Blackstone or any other institutional investor who is causing the lack of supply in the housing market.
Did Active SMAs Beat Their Passive Counterparts During Q1?
Wealth Management
MAY 23, 2024
Large core and large growth managers fared the best, according to Zephyr data.
Choosing the Right Trustee for Your Estate Plan
Carson Wealth
MAY 23, 2024
One of the most important decisions you’ll make when designing your estate plan is who to name in the various fiduciary roles: trustee, personal representative, executor and agent. While a critical decision, it’s often given significantly less thought than the distribution of your assets. But even a meticulously designed estate plan drafted by an accomplished estate planning attorney can fail to achieve its purpose if the trustee fails to administer the trust properly.
Billionaire Tax Rejected by US Causes Split Ahead of G-7 Meeting
Wealth Management
MAY 23, 2024
The United States has pushed back on a global minimum wealth tax on billionaires.
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
In praise of punctuality
Million Dollar Round Table (MDRT)
MAY 23, 2024
By Bryce Sanders Impress your clients and score points with your manager by embracing punctuality. Here’s how it can make you stand apart from other advisors: The late start to office meetings. We have all been there. The office sets up a lunch-and-learn or a company training that’s scheduled for 1 p.m. About half the room is filled. Your sales manager says, “We will delay the start until the latecomers arrive.
SEC Takes Step Toward Approval of Ethereum ETFs
Wealth Management
MAY 23, 2024
Ethereum ETFs from BlackRock, Grayscale and others are one step closer to being available on the NYSE Arca, Nasdaq and Cboe BZX exchange.
Every Highway
The Better Letter
MAY 23, 2024
I was pretty sick this week, so this missive is an adapted version of one I wrote in the early days of TBL. If you were an early adopter (the first five percent or so), you may remember it. The Beatles’ Sgt. Pepper’s Lonely Hearts Club Band was a masterpiece when it was released in June of 1967, heralding the Summer of Love. It was the first-ever concept album.
Nine Tips for Advocacy and Policy Change-Focused Philanthropy
Wealth Management
MAY 23, 2024
The available advocacy tools aren’t as fraught or complicated as they may seem, and the payoff for communities is huge.
Book of Secrets on the Month-End Close
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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.
Why Stock Buybacks Are Great For Our Clients
Advisor Perspectives
MAY 23, 2024
Corporate America is buying back its own shares at a near record pace, despite a new one percent buyback excise tax instituted in 2023. While buybacks are often criticized, they are wonderful for investors – though probably not in the way most people think.
Managing Risk with a Multi-Manager Implementation
Wealth Management
MAY 23, 2024
A behaviorally-oriented approach to help investors succeed.
Navigating Client Emotions with Behavioral Economics
Advisor Perspectives
MAY 23, 2024
There’s no denying that human emotions play a role in managing money. Even someone who’s usually level-headed can get caught up in excitement, fear, or uncertainty.
Gorman to Step Down as Morgan Stanley Chairman at End of Year
Wealth Management
MAY 23, 2024
Gorman's decision to step down after giving up the CEO role in January is seen as a vote of confidence in Pick’s leadership.
Stop Falling Short When It Matters Most—The Elite Advisor’s Playbook to Success
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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?
New Home Sales Retreat 4.7% in April
Advisor Perspectives
MAY 23, 2024
The April release for new home sales from the Census Bureau came in at a seasonally adjusted annual rate of 634,000 units, lower than the 677,000 forecast. New home sales are down 4.7% month-over-month from a revised rate of 665,000 in March and are down 7.7% from one year ago.
Revitalizing Services for Next-Gen Investors
Wealth Management
MAY 23, 2024
Unlocking the future of wealth management with tech-savvy tactics.
Unemployment Claims Down 8K, Better Than Expected
Advisor Perspectives
MAY 23, 2024
In the week ending May 18, initial jobless claims were at a seasonally adjusted level of 215,000, a decrease of 8,000 from the previous week's figure. The latest reading is lower than the forecast of 220,000 jobless claims.
Setting the Record Straight for Next-Gen Talent
Wealth Management
MAY 23, 2024
Engaging the next generation: Axtella's plan to revitalize finance.
Demo SkyStem’s Award Winning Month-End Close Solution & Earn $100
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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.
Stimulus Today Costs Dearly Tomorrow
Advisor Perspectives
MAY 23, 2024
Since the pandemic-related fiscal stimulus, the outstanding Federal debt has risen appreciably. In nominal dollar terms, the recent debt surge is mindboggling. However, the increase is on par with the government’s negligence over the last fifty years.
Charting Your Course: Strategies for Thriving in Today's Financial Market
Wealth Management
MAY 23, 2024
Monday, June 17, 2024 | 2:00 PM Eastern Daylight Time
Kansas City Fed Manufacturing: Flat Activity in May
Advisor Perspectives
MAY 23, 2024
The latest Kansas City Fed Manufacturing Survey composite index increased in May as did future expectations. The composite index came in at -2, up from -8 in April, while the future outlook rose to 6.
A Hot Button Issue for SEC Threatens to Erode Ether-ETF Demand
Wealth Management
MAY 23, 2024
Issuers including Fidelity Investments and Ark Investment Management have eliminated plans for “staking” the Ether they would purchase for the proposed funds if they’re approved.
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.
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