Calculated Risk
JULY 12, 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).
Wealth Management
JULY 12, 2024
Sometimes, what seems like the most straightforward task can end up the most difficult and meaningful.
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Abnormal Returns
JULY 12, 2024
The biz How a podcast network makes money. (linkedin.com) Spotify ($SPOT) has a bundling problem. (vox.com) Global Tyler Cowen talks with Brian Winter discuss the politics and economics of nearly every country from the equator down. (conversationswithtyler.com) Russell Napier talks with Harold James, author of "Seven Crashes: The Economic Crises That Shaped Globalisation.
Wealth Management
JULY 12, 2024
Caribou's Christine Simone details how healthcare planning can differentiate advisors.
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
Nerd's Eye View
JULY 12, 2024
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that at a time when employee retention has heightened importance for advisory firms given the ongoing competition for advisor talent, recent studies indicate that factors such as firm culture and leadership, as well as providing advisors with a sense of autonomy, can play important roles in building advisor loyalty to the firm.
Wealth Management
JULY 12, 2024
The Callot Wealth Management Group is led by David Callot, a Paramus, N.J.-based advisor who spent more than 30 years with the wirehouse before moving to RBC.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Wealth Management
JULY 12, 2024
Effective immediately, Prime Capital Investment Advisors will become Prime Capital Financial, while Pensionmark rebrands to World Investment Advisors, a nod to its parent company.
Calculated Risk
JULY 12, 2024
From BofA: Since our last weekly publication, 2Q GDP tracking is up one-tenth to 2.0% q/q saar. The increase largely results from a lower-than-expected June CPI print. [July 12th estimate] emphasis added From Goldman: We lowered our Q2 GDP forecast to +1.8% (qoq ar). [July 8th estimate] And from the Altanta Fed: GDPNow The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2024 is 2.0 percent on July 10, up from 1.5 percent on July 3.
Wealth Management
JULY 12, 2024
Interval funds continue to raise cash from investors, and new managers are launching products at a brisk pace.
A Wealth of Common Sense
JULY 12, 2024
Charley Ellis wrote a great book about the index fund revolution back in 2016. One of my favorite parts of the book is where Ellis looks at how Wall Street has changed in the past 50 years: MBAs were uncommon. PhDs were never seen. Commissions still averaged 40 cents a share. All trading was paper based. Messengers with huge black boxes on wheels, filled with stock and bond certificates, scurried from broker to broker tr.
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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
JULY 12, 2024
The team, led by father and daughter Bruce Glenn and Kristina Strickland, joins Summit Financial Networks, a super OSJ run by Marshall Leeds.
Alpha Architect
JULY 12, 2024
An efficient way to improve the expected performance of an equity strategy would be to systematically exclude penny stocks, as well with high asset growth and extreme past returns, especially if they have low profitability (and exclude funds that don’t screen out such stocks). Explaining the Performance of Low-Priced Stocks: The Penny Stock Anomaly was originally published at Alpha Architect.
Wealth Management
JULY 12, 2024
The Apollo co-founder has sold or gifted 9.1 million shares of his multibillion-dollar stake since January, the most in a calendar year since the private equity firm went public more than a decade ago.
Advisor Perspectives
JULY 12, 2024
Wholesale inflation unexpectedly rose last month. The producer price index for final demand increased 0.2% month-over-month (s.a.). On an annual basis, headline PPI accelerated from 2.4% in May to 2.6% in June.
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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
JULY 12, 2024
Neil McLaughlin, RBC's longtime head of its personal and commercial banking division, is moving to a new role as chief of wealth management.
Sara Grillo
JULY 12, 2024
Question from a subscriber: “ I want to start writing articles as a guest blogger to attract new clients. How do I get started?” Guest blogging is when you write a blog on a one-time or periodic basis for a publication as a way to get known as an expert in a particular subject. You do this as a non-staff writer, or guest writer. Although you usually are not paid for guest blogging, you get exposure to the periodical’s audience – often in the tens of thousands.
Advisor Perspectives
JULY 12, 2024
Consumer sentiment dropped to an 8-month low in July according to the preliminary report for the Michigan Consumer Sentiment Index. The index fell 2.2 points (-3.2%) from June's final reading to 66.0. The latest reading was below the forecast of 68.5.
SEI
JULY 12, 2024
Wealth management firms can power growth by increasing productivity.
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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.
Advisor Perspectives
JULY 12, 2024
Demand for alternatives has spotlighted convertible arbitrage for portfolio diversification and risk-adjusted returns, after decades of underappreciation. Advisors must understand these strategies to effectively guide clients in the evolving market.
Sara Grillo
JULY 12, 2024
A “short” is a video, usually on social media platforms, under two minutes that is designed to “pop.” It’s kind of like a highlight reel. They are created to garner high emotional impact and lots of energy delivered in a condensed period of time. These videos are usually edited down from a longer video. So […] To access this post, you must purchase Membership Prime Portal.
SEI
JULY 12, 2024
SEI's second quarter market commentary.
Sara Grillo
JULY 12, 2024
Question from a subscriber: “ What is the best way to tell a prospect that they are not a good fit? “ Keep it brief. Make it about the opportunity – not the rejection. Put all the emphasis on the type of advisor who is correct and how they should find them, not why they aren’t right for you. Take these actions TODAY: When rejecting the prospect, don’t ramble.
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.
Advisor Perspectives
JULY 12, 2024
The S&P 500 posted a near perfect week with gains every day except Thursday. The index has now moved higher 8 of its last 9 trading days. The index is currently up 18.40% year to date and has recorded a new all-time high 37 times this year.
Truemind Capital
JULY 12, 2024
The tortoise won the race over the hare because it was consistent. Many people often ignore the power of consistency but those who follow, see remarkable success in life. People want to get rich quickly. The media also highlights the story of sudden riches, flamboyance & extravagant splurges. Whereas for a common person, the chances of success are much higher if only they are going through a boring everyday grind, silently climbing up the ladder, consistently saving and investing to benefit
Advisor Perspectives
JULY 12, 2024
The yield on the 10-year note ended July 12, 2024 at 4.18%, the 2-year note ended at 4.45%, and the 30-year at 4.39%.
Abnormal Returns
JULY 12, 2024
Markets How have the market's five largest stocks performed over the long run? (ft.com) When junky stocks take off, look out. (scheplick.com) Finance Home insurance rates are rising all over the country. (wsj.com) Why gate a fund that is up big? (advisorhub.com) AI LLMs are in a way still looking for product-market fit. (ben-evans.com) Doctors and insurers are dueling each other with AI.
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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.
Advisor Perspectives
JULY 12, 2024
Human nature is such that there are always some folks who put a negative spin on obviously good news.
Wealth Management
JULY 12, 2024
Like Republicans before them, deep-pocketed liberal donors have discovered that their dollars aren’t likely to be a deciding factor in whether President Joe Biden decides to bow out of the race.
Advisor Perspectives
JULY 12, 2024
The economy is off to a strong start in 2024, with a strong employment picture and the Dow Jones Industrial Average crossing 40,000 for the first time. But even with those tailwinds, questions about the economy and the markets remain as we head into the second half of 2024.
Advisor Perspectives
JULY 12, 2024
Treasury yields tumbled after benign inflation data renewed confidence that the Federal Reserve will cut interest rates at least twice this year.
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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