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From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 5.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 24, 2024. The Market Composite Index, a measure of mortgage loan application volume, decreased 5.7 percent on a seasonally adjusted basis from one week earlier.
The FDIC released the Quarterly Banking Profile for Q1 2024: Reports from 4,568 commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) report aggregate net income of $64.2 billion in first quarter 2024, an increase of $28.4 billion (79.5 percent) from the prior quarter. A large decline in noninterest expense because of several substantial, non-recurring items recognized by large banks in the prior quarter, as well as higher noninterest income and lo
Nvidia It's hard to overstate just how big a rally Nvidia ($NVDA) has seen. (downtownjoshbrown.com) Then again, few large companies have grown this fast. (theirrelevantinvestor.com) AI A look at the AI tech stacks for various players in the industry. (stratechery.com) Why Zuck and Meta ($META) have embraced an open AI standard. (nytimes.com) AI spending is going to grow as more countries jump into the game.
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
FSI Wealth Management, a San Diego, Calif.-based team with $215 million in assets, is joining LPL from Securities America, in the wake of Osaic's integration and rebranding efforts.
Podcasts Barry Ritholtz talks with Carl Richards about the behavior gap and how to avoid it. (ritholtz.com) Shane Parrish talks with Morgan Housel author of "Same as Ever: A Guide to What Never Changes." (youtube.com) Amy Arnott and Christine Benz talk with Jamila Souffrant author of "Your Journey to Financial Freedom: A Step-by-Step Guide to Achieving Wealth and Happiness.
Small business owners often treat their businesses not only as their source of income during their working years, but also as an asset that can be sold to fund their retirement. And while many businesses can build up substantial value over the years, the downside is that, when that value is realized upon the sale of the business, a large amount of it is treated as taxable income.
Today, in the Calculated Risk Real Estate Newsletter: Inflation Adjusted House Prices 2.2% Below Peak Excerpt: It has been 18 years since the bubble peak. In the March Case-Shiller house price index released on Tuesday, the seasonally adjusted National Index (SA), was reported as being 72% above the bubble peak in 2006. However, in real terms, the National index (SA) is about 10% above the bubble peak (and historically there has been an upward slope to real house prices).
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.
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Thursday: • At 8:30 AM ET, The initial weekly unemployment claims report will be released. The consensus is for 218 thousand initial claims, up from 215 thousand last week. • Also at 8:30 AM, Gross Domestic Product, 1st quarter 2023 (Second estimate). The consensus is that real GDP increased 1.2% annualized in Q1, down from the advance estimate of 1.6%. • At 10:00 AM, Pending Home Sales Index for April.
Steward Partners' Jim Gold details the major trends in the industry, including the future of hybrid RIAs, the impact of private equity and concerns about succession planning.
Inflation and wages are kind of a chicken or egg issue. Do higher prices cause higher wages or do higher wages cause higher prices? I suppose it’s probably a little of both. There is an obvious relationship when you look at the data. Here’s a look at year-over-year wage growth versus trailing twelve-month inflation going back to 1965: Wages grow faster than prices most of the time, but not always.
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?
India’s transformation, from rural landscapes to bustling metropolises, is fueled not just by ambition, but by the invisible hand of electrical engineering components. These, often unnoticed, form the backbone of our nation’s progress. The electricity that illuminates our houses, propels our industries and keeps our cities humming doesn’t simply appear at the flick of a switch.
Wealthcare Capital Partners aims “to meet the needs of select advisors interested in joining Wealthcare.” It has already recruited a Towson, Md.-based advisor with nearly $141 million in assets.
Gas prices inched down for a fifth straight week to their lowest level since the beginning of April. As of May 27th, the prices of regular and premium gas each fell 1 cent from the previous week. The WTIC end-of-day spot price for crude oil closed at $79.82, up 0.7% from last week.
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.
My sister is getting married this fall to the love of her life, and I am so excited to celebrate them! As she began wedding planning, she decided that a destination wedding was what they wanted and chose to get married in Mexico. As the matron of honor, I’ve learned a lot about planning a destination wedding and wanted to share a few tips that could help you or a friend or family member who is planning or considering a destination wedding.
A Cliff Clavin footnote to start is that the Kansas song is called Carry on Wayward Son, not my wayward son, obviously the lyrics include the word my but not the title. The ReturnStacked US Stocks & Futures Yield ETF (RSSY) starts trading on the CBOE on Wednesday. We've taken a couple of looks at carry as an investment strategy and hopefully we can dig in a little deeper to learn more.
Spain & Smith Wealth Advisors will be led by veteran Henry “Hank” Spain, who was most recently with Carnegie Investment Counsel. He’s joined by Dayna Smith, who comes from Frank Legan Advisors at Cedar Brook Group, an RIA affiliated with Cadaret Grant.
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.
The "Rule of 150," or Dunbar’s Number, popularized by British anthropologist Robin Dunbar, suggests that individuals can effectively maintain only about 150 stable relationships. Applying this principle to financial advising can help advisors manage their client networks more efficiently.
The iShares Bitcoin Trust has attracted the greatest inflow since going live, $16.5 billion, while investors have pulled $17.7 billion from the Grayscale fund over the same period.
Guest: Tom Rieman, the Founding Partner and CEO of Practice Intel , a company dedicated to empowering advisors to deliver truly impactful advice. Tom has held leadership roles at J. D. Power and Associates, Brinker Capital, and J. P. Morgan Asset Management. In a Nutshell: Tom and I explore three themes that are crucial to all advisors’ success: organic growth; bridging the advice-experience gap between what your clients want and what you’re delivering; and what an ideal advice exper
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.
Fifth district manufacturing activity improved but remained sluggish in May, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index rose to 0 this month from -7 in April, ending the streak of 6 consecutive negative readings. This month's reading was better than the forecast of -6.
US stocks are popular with investors, and it’s easy to understand why. As an asset class, US stocks have recently had several strong years, and they tend to dominate market news and headlines. They also comprise about 60% of the global equity market. To be sure, US stocks are important for investors—in Wealthfront’s Classic portfolio, […] The post The Case for Investing in Foreign Stocks appeared first on Wealthfront Blog.
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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