Tue.Sep 26, 2023

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Tuesday links: dislocated from reality

Abnormal Returns

Alternatives Private market access funds are all the rage. (morningstar.com) Alternative assets are not all that alternative. (integratinginvestor.com) Will music royalties turn out to be a worthy investment? (wired.com) Asset allocation How various asset classes performed during a recession. (morningstar.com) Achieving these three portfolio goals simultaneously is tough.

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#FA Success Ep 352: Finding Personal Scale By Leveraging Yourself Through Outsourced Delegation, With Bridget Venus Grimes

Nerd's Eye View

Welcome back to the 352nd episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Bridget Venus Grimes. Bridget is the President of WealthChoice, a virtual independent RIA that oversees nearly $80 million in assets under management for 68 client families, and Co-Founder of Equita Financial Network, an advisor platform that helps advisors plug in and share resources.

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Research links: keeping things simple

Abnormal Returns

Portfolio management Fund investors prefer managers who stick to their knitting. (papers.ssrn.com) Why portfolio managers invest more research into short positions. (papers.ssrn.com) Research The structure of the stock market has changed a lot over time, but the results are still largely the same. (insights.finominal.com) Research shows high equity market returns post-high VIX levels.

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Here Comes the Shutdown

The Reformed Broker

Join Downtown Josh Brown and Michael Batnick for another round of What Are Your Thoughts? On this week’s episode, Josh and Michael discuss the biggest topics in investing and finance, including: ►The ‘flation – 75% probability of a shutdown. ►Risks to the Economy – “A year of surprisingly strong growth is about to be tested by a strike, the possibility of a government shutdown, student loans.

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Fall In Love With the Month-End Close

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.

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Where the Housing Bubbles Are

A Wealth of Common Sense

Jeremy Grantham was on The Compound and Friends with Michael and Josh last week talking bubbles. [link] says real estate is a global bubble and prices should fall 30% or so. I partially agree and partially disagree with Grantham here. I continue to believe the U.S. housing market is not in a bubble. Is the housing market broken in many way.

Marketing 132
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Clips From Today’s Halftime Report

The Reformed Broker

The NFL is not spending enough time developing leadership: Former NFL GM Michael Lombardi from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.

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The 10 Best Non-Fiction Books of This Year

Advisor Perspectives

Here are the 10 best books I read from September 2022 through August 2023.

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Key Factors to Successful Commercial Real Estate Auctions

Wealth Management

Traditional sales can be time-consuming, with negotiations and contingencies that might cause the closing process to take months.

Sales 114
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FHFA House Price Index Rises 0.8% in July

Advisor Perspectives

The Federal Housing Finance Agency (FHFA) house price index (HPI) continued its climb in July, coming in at 409.5. U.S. house prices increased by 0.8% from the previous month and by 4.6% from one year ago. After adjusting for inflation, the real index is up 0.8% month-over-month and up 3.4% year-over-year.

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New Home Sales decrease to 675,000 Annual Rate in August; Median New Home Price is Down 13% from the Peak

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: New Home Sales decrease to 675,000 Annual Rate in August Brief excerpt: The Census Bureau reports New Home Sales in August were at a seasonally adjusted annual rate (SAAR) of 675 thousand. The previous three months were revised up, combined. The next graph shows new home sales for 2022 and 2023 by month (Seasonally Adjusted Annual Rate).

Sales 114
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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.

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Top Indian Stocks Held By Morgan Stanley – Portfolio Analysis!

Trade Brains

Top Indian Stocks Held By Morgan Stanley : With more than 29 years of experience in India, Morgan Stanley offers both domestic and foreign clients a range of services. The Company employs over 10,000 Indians across its locations and operates a leading institutional securities platform in India that provides a full range of investment banking, capital markets, equities, fixed income, commodities, and derivative products, as well as research.

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Consumer Confidence Declined Again in September

Advisor Perspectives

The Conference Board's Consumer Confidence Index® declined again in September, marking two consecutive months of decline. The index dropped to 103.0 from August's upwardly revised reading of 108.7. This month's reading was worse than expected, falling below the 105.5 forecast.

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LPL Opens Acquisition Model to External Advisors

Wealth Management

LPL's 'liquidity and succession' program aims to ease the economic burden of internal succession for practices, while capturing a larger share of the independent advisory market.

Economics 106
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Is this Really a Bull Market?

The Irrelevant Investor

559 days ago, the fed began a rate hiking cycle that would be unlike anything the modern investor had ever seen. The stock market saw this coming. When they finally decided they needed to fight inflation, micro-cap stocks were in a 19% drawdown. The Nasdaq-100 had fallen 16% from its peak. The indices would fall further still as investors digested what higher rates would mean for the economy and the companies that underl.

Marketing 103
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Profit in the Details: Rethinking Spend for Monumental Impact

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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Rise of AI Necessitates a New Advisor Skillset

Wealth Management

Advisors’ true value lies in empathy and coaching clients to live in alignment with their priorities.

Clients 106
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Developing a DEI strategy with patience and vision

SEI

Diversity, equity & inclusion (DEI) are important to many businesses but approaches to DEI can vary. Learn how SEI created a thoughtful approach with vision and commitment.

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Making the Most of Planning Opportunities: Health Insurance Optimization

Wealth Management

Life events or job changes can be a great client touchpoint around the need for review of client health insurance.

Insurance 104
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How To Start Living Below Your Means

Clever Girl Finance

It’s totally normal to want things you can’t afford, but it can damage your finances if you give into temptation too often. This is because it makes you start living above your means. Whilst it’s hard to admit that you don’t have the funds for a massive house or a brand new car, it’s essential if you want to start living below your means. Table of contents Why is it important to live below your means How living above your means impacts your finances Signs you’re living above your means How to st

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Less Stress, More Success: Accounting Best Practices & Processes for 2025

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.

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Former Brinker CEO Noreen Beaman Joins Commonwealth Board

Wealth Management

Beaman enters the next chapter of her career, which includes a place on Commonwealth’s advisory board and a new executive coaching and consulting business.

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Carnage Follow Ups

Random Roger's Retirement Planning

A couple of follow ups. First on Monday's post about using return stacking to slightly increase the retirement withdrawal rate, I forgot about the WisdomTree Core Efficient Plus Fund (NTSX) which is leveraged up such that 67% in that fund equals 100% into a 60/40 portfolio like the Vanguard Balanced Income Fund (VBAIX). That leaves the remaining 33% to maybe leverage up to buy more stock (not what I would do) or add diversifying strategies that could lead to a similar return as full 60/40 but wi

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SEC Charges AssetMark for Failing to Disclose Cash Sweep Conflicts

Wealth Management

The TAMP also did not disclose conflicts related to custodial support payments; AssetMark will pay $18 million to settle the charges.

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Animal Spirits: House Poor

The Irrelevant Investor

Today’s Animal Spirits is brought to you by YCharts: See here for YCharts latest KPI function, and here for 20% off your initial subscription for new subscribers! On today’s show, we discuss: Are we heading for a recession? Rising rates make big companies even richer S&P US Scorecard You might be paying too much for that index fund Dead NFTs: The evolving landscape of the NFT market House poor is back: &#8.

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Crafting Impact: Revenue Growth And Efficiency For Finance Professionals

Speaker: Ashley Harlan, MBA

What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.

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???????New Jersey Selects Vestwell For Its Secure Choice Savings Program

Wealth Management

New Jersey's pilot program will begin in 2024, followed by a phased rollout that kicks off later in the year.

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Elder financial abuse: Are you free to discuss it?

Million Dollar Round Table (MDRT)

By Matt Pais, MDRT Content Specialist In a situation where a client’s family member allegedly takes advantage of them, advisors might not necessarily be able to take action. Gregory B. Gagne, ChFC When a client’s son allegedly took advantage of him, MDRT President Gregory B. Gagne, ChFC , a 24-year MDRT member from Exeter, New Hampshire, couldn’t speak up because the client, who had transferred power of attorney from his other son, told Gagne his advisor could no longer speak to the son who lost

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How RIAs Can Bridge the Cybersecurity Gap

Wealth Management

Data is not a byproduct of an RIA’s work. It is an asset to be cultivated and protected.

Assets 98
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Case-Shiller: National House Price Index Up 1.0% year-over-year in July; New all-time High

Calculated Risk

S&P/Case-Shiller released the monthly Home Price Indices for July ("July" is a 3-month average of May, June and July closing prices). This release includes prices for 20 individual cities, two composite indices (for 10 cities and 20 cities) and the monthly National index. From S&P S&P CoreLogic Case-Shiller Index Continues to Trend Upward in July The S&P CoreLogic Case-Shiller U.S.

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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

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.

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New CFO Signals No Near-Term Sale For Envestnet

Wealth Management

Former iShares managing director Josh Warren to replace long-tenured Pete D’Arrigo as finance chief of the publicly traded TAMP.

Sales 98
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Stop Wondering if Prospects Are a “Good Fit”

Advisor Perspectives

Ari Galper: Stop wondering if prospects are a “good fit”

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12 Must Reads for Real Estate Investors (Sept. 27, 2023)

Wealth Management

The total value of global real estate—residential, commercial and agricultural—reached $379.7 trillion in 2022, according to Savills. Bloomberg reported on billionaires betting on the U.S. multifamily sector. These are among the midweek must reads from the real estate investment world.

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Jio AirFiber is Here! Is Airtel likely to lose a lot of its broadband user base?

Trade Brains

Remember those days in 2016 when Ambani launched the Jio SIM? He made the internet and calls free for almost 6 months in the beginning. Back then, most of us thought, “We’ll just switch back after the freebie period.” But guess what? Many of us are still using the same Jio SIM today, even if we keep one more in the second slot, just in case.

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Confronting the Change Challenge

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.