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From Fed Chair Jerome Powell: Economic Outlook. Excerpt: Turning to monetary policy, we face a highly uncertain outlook with elevated risks of both higher unemployment and higher inflation. The new Administration is in the process of implementing substantial policy changes in four distinct areas: trade, immigration, fiscal policy, and regulation. Our monetary policy stance is well positioned to deal with the risks and uncertainties we face as we gain a better understanding of the policy changes
This week, I speak with with Lisa Shalett , Chief Investment Officer and head of Global Investment Office for Morgan Stanley Wealth Management. Previously, she was CEO and chairman at Sanford Bernstein, CIO at Merrill Lynch Asset Management, and now CIO at both Morgan Stanley Wealth Management and runs their asset allocation models and their outsourced chief investment officer models.
From the BLS: Employment Situation Total nonfarm payroll employment rose by 228,000 in March, and the unemployment rate changed little at 4.2 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, in social assistance, and in transportation and warehousing. Employment also increased in retail trade, partially reflecting the return of workers from a strike.
Markets Earnings estimates have plenty of room to come down. (theirrelevantinvestor.com) It looks like we will have two 5-sigma daily moves in a row. (priceactionlab.com) Investors are trying to hide out in consumer staples. (ft.com) Strategy Don't do anything you might regret during a period of market stress. (wsj.com) The chances of you making a good decision under stress are slim.
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.
The headline jobs number in the March employment report was above expectations, however, January and February payrolls were revised down by 48,000 combined. The participation rate increased, the employment population ratio was unchanged, and the unemployment rate increased to 4.2%. Earlier: March Employment Report: 228 thousand Jobs, 4.2% Unemployment Rate Prime (25 to 54 Years Old) Participation Since the overall participation rate is impacted by both cyclical (recession) and demographic (aging
Money management Shane Parrish talks with Brookfield CEO Bruce Flatt. (fs.blog) Barry Ritholtz talks with Lisa Shalett, Chief Investment Officer at Morgan Stanley. (bloomberg.com) Meb Faber talks with Mark Haefele, Chief Investment Officer of UBS Global Wealth Management. (podcasts.apple.com) David Senra looks for lessons in the rise of Ken Griffin, founder of Citadel.
Here are three things I think I am thinking about this weekend. 1) How Did We Get Here? I won’t bore you with more of the tariff debunking that I did last weekend. If you want to read that please go back and touch on each of the bullet points I covered. Tariffs are perhaps the most non-partisan issue in economics. It might be the only thing that Paul Krugman and Milton Friedman agreed on.
For equity investors there have been two major narratives over the last 17 calendar year period 2008-2024. The first is that US stocks have far outperformed international stocks. The other narrative has been the outperformance of growth stocks relative to value stocks. US Value Stocks Trading at Historically High Discounts was originally published at Alpha Architect.
Peggy Pasquarella, CFO and HR director at 1919 Investment Counsel, an RIA subsidiary of Stifel Financial with $23.9 billion in assets under management, has left the company.
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.
Recently, I engaged with an AI team of experts to help them build AI-enabled software products for wealthmanagement firms. When I was approached for suggestions, I was intrigued by what AI could do to wealthmanagement. It helped me learn about the possibilities of AI use in wealth management. Many wealth management outfitsin the US have started using AI in their operations and basic level of advice.
The CEO of GeoWealth and Goldman Sachs Asset Management executives are championing their approach to get alternative investments and more personalization down market via RIAs.
Lisa Skinner , president of Brokerage Services Inc. in Herman, NE, has had a lifelong connection to the financial services industry. Her journey began early, influenced by her father, who was a General Agent for over 50 years. Lisa started working during school breaks, taking on tasks such as filing, computer work, and scanning files to digital formats.
Acquisitions were also announced by Mission Wealth and Cary Street Partners, and long-time Northwestern Mutual advisor shifts to private client group Socium Advisors.
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
This weeks Tax Advisor Weekly covers key updates for financial professionals. We begin with guidance on navigating property tax considerations during business mergers and expansions. Next, we explore the growing need for C-suite awareness of transfer pricing implications. We also break down the latest developments in Beneficial Ownership Information (BOI) reportingwhile requirements have been temporarily lifted for domestic entities, foreign companies remain affected.
In this episode, dive into the complex world of tariffs, national debt, and economic policies under the current administration. With the S&P down 4% and markets reacting to recent policy shifts, we bring you insights from our previous interviews with Cullen Roche and Andy Constan to break down these pressing issues. This episode is designed for everyday investors and money managers alike, offering a balanced, practical perspective on navigating short-term market pain for potential long-term
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.
The recent market sell-off, driven by rising tariff concerns and economic uncertainty, has significantly impacted retail and consumer-facing stocks. While these declines have rattled many investors, they have also created attractive opportunities. Using Valideas Guru Stock Screener, we’ve identified a number of quality retail stocks trading at that have declined significantly.
In their decision, arbitrators wrote that Hightowers non-compete clause seemed designed more to punish former advisor Lars Knudsen, rather than protecting the firms legitimate business interests.
Official recession calls are the responsibility of the NBER Business Cycle Dating Committee, which is understandably vague about the specific indicators on which they base their decisions. There is, however, a general belief that there are four big indicators that the committee weighs heavily in their cycle identification process.
Today, in the Real Estate Newsletter: Asking Rents Mostly Unchanged Year-over-year Brief excerpt: Another monthly update on rents. Tracking rents is important for understanding the dynamics of the housing market. Slower household formation and increased supply (more multi-family completions) has kept asking rents under pressure. Apartment List: Asking Rent Growth -0.4% Year-over-year.
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?
The yield on the 10-year note ended April 4, 2025 at 4.01% while the 2-year note ended at 3.68%. These are the lowest levels for each respective note since October.
From BofA: Since our last publication, our 1Q GDP tracking is up from 0.1% q/q saar to 0.4% q/q saar. [Apr 4th estimate] emphasis added From Goldman: We left our Q1 GDP tracking estimate unchanged at +0.3% (quarter-over-quarter annualized). [Apr 3rd estimate] And from the Atlanta Fed: GDPNow The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2025 is -2.8 percent on April 3, up from -3.7 percent on April 1.
This chart series features an overlay of four major secular bear markets: the Crash of 1929, the Oil Embargo of 1973, the Tech Bubble, and the Financial Crisis. The numbers are through the March 31, 2025 close.
Widespread tariffs are a bad idea. How do I know this? History shows they don’t work. Let’s look back. JP Morgan’s Michael Cembalest wrote about President McKinley’s disastrous tariffs in the late-1800s: President William McKinley tariffs were very popular at the time they were enacted, but they caused an almost immediate inflation spike.
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.
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that President Trump's tariff announcement on Wednesday and the subsequent market decline have led many financial advisors to reassure clients that they are implementing their pre-determined plans for such circumstances. As they execute these plans, advisors appear to be taking different approaches depending on their investment philosophy and client base, with many preaching a
Tariffs are here and in a big, big way, much bigger than anyone expected. And the levels shared by President Trump arent really reciprocal tariffs. The calculation of new tariff rates is based on the trade deficit the US has with each country and has nothing to do with actual tariffs other countries charge on US goods. Heres how the calculations were done.
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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