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The Federal Reserve released the Q2 2024 Flow of Funds report today: Financial Accounts of the United States. The net worth of households and nonprofits rose to $163.8 trillion during the second quarter of 2024. The value of directly and indirectly held corporate equities increased $0.7 trillion and the value of real estate increased $1.8 trillion. Household debt increased 3.2 percent at an annual rate in the second quarter of 2024.
Today, in the Real Estate Newsletter: The "Home ATM" Mostly Closed in Q2 Excerpt: During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined.
The firm, co-founded by serial entrepreneur Judd Mackrill, seeks to fill RIA firms' need for business intelligence, data consolidation and integration.
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
Books An excerpt from Tim Harford’s book, “The Undercover Economist Strikes Back.” (on.ft.com) A Q&A with Alison Fragle author of "Likeable Badass: How Women Get the Success They Deserve." (annieduke.substack.com) AI Why AI really could disrupt work. (danielmiessler.com) Just how transformational is AI in the big picture? (thezvi.substack.com) 11 predictions about AI including 'AI will create more disruption than profit.
Apple How the new AirPod Pros 2 could upend the hearing aid industry. (cnbc.com) Why it's smart for Apple ($AAPL) to add a Camera Control button to the new iPhones. (macworld.com) The iPhone camera is going to be an onramp for 'visual AI.' (om.co) The iPhone 16s are not 'AI phones.' (spyglass.org) Companies Kevin Plank has a tough job in his second go-round as Under Armour ($UA) CEO.
Apple How the new AirPod Pros 2 could upend the hearing aid industry. (cnbc.com) Why it's smart for Apple ($AAPL) to add a Camera Control button to the new iPhones. (macworld.com) The iPhone camera is going to be an onramp for 'visual AI.' (om.co) The iPhone 16s are not 'AI phones.' (spyglass.org) Companies Kevin Plank has a tough job in his second go-round as Under Armour ($UA) CEO.
From CoreLogic: CoreLogic: US Homeowners See Equity Gains Continue to Climb, but at a Slower Pace in Q2 CoreLogic®. today released the Homeowner Equity Report (HER) for the second quarter of 2024. The report shows that U.S. homeowners with mortgages (which account for roughly 62% of all properties) saw home equity increase by 8.0% year over year, representing a collective gain of $1.3 trillion and an average increase of $25,000 per borrower since the second quarter of 2023, bringing the total
Cetera-backed Wilde Wealth Management Group has brought on Drew Kliber, who managed $400 million in assets at UBS, as head of its W Family Office division.
The DOL reported : In the week ending September 7, the advance figure for seasonally adjusted initial claims was 230,000 , an increase of 2,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 227,000 to 228,000. The 4-week moving average was 230,750, an increase of 500 from the previous week's revised average.
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
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Friday: • At 10:00 AM: University of Michigan's Consumer sentiment index (Preliminary for September).
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 August, Realtor.com reported inventory was up 5.8% YoY, but still down 26.4% compared to the 2017 to 2019 same month levels. Now - on a weekly basis - inventory is up 33.4% YoY. Realtor.com has monthly and weekly data on the existing home market.
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.
Our resident estate expert, Taylor Hollis, joined me on the show this week to discuss questions about CD rates, how trusts work, how to protect your finances from an illness in the family and paying off student loans with a 401k loan. Further Reading: How Individual Retirement Accounts Changed the Stock Market Forever 1Assets did fall and then stagnated coming out of the Great Financial Crisis but that was a period with.
The semiconductor industry has been playing a crucial role in driving technological advancements in India. As the demand for electronic devices surged, companies were continuously innovating to meet this need. This sector not only supports the growth of various industries but also aims to reduce India’s reliance on semiconductor imports. By promoting local manufacturing capabilities, the semiconductor industry is paving the way for economic growth and technological self-sufficiency in Indi
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?
In the week ending September 7th, initial jobless claims were at a seasonally adjusted level of 230,000. This represents an increase of 2,000 from the previous week's figure and is worse than the 227,000 economists were expecting.
Listen as Alexander Matos AVP, Business Consulting, Kestra Financial , asks how will your firm continue to evolve to meet the future needs of advisors.
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.
Jason Diamond and Mindy Diamond discuss her new book, Should I Stay or Should I Go?, created specifically for financial advisors who are looking to optimize their business.
Interest rates are expected to drop soon, and this shift presents both opportunities and challenges for savers, investors, and anyone managing debt. As we face these changes, it’s crucial to be proactive in how you approach your financial strategy. From locking in high yields on savings accounts to refinancing loans and adjusting your investment portfolio, there are steps you can take today to maximize the benefits of lower rates.
Listen as Kevin Darlington General Manger, Broadridge, asks what advisor challenge is your firm trying to solve?, What do you hope to see happen in the wealth management space over the next ten years?, How will your firm continue to evolve to meet the future needs of advisor's?
Recent political turmoil in Bangladesh, marked by violent protests over job quotas, has sent shockwaves through the South Asian textile industry. This upheaval not only poses security risks in India’s neighborhood but also creates significant implications for Indian companies, particularly those in the textile sector. The resulting “Bangladesh+1” strategy adopted by global brands opens new avenues for Indian textile exporters, potentially reshaping the regional industry landsca
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Institutional investors, which have traditionally made up private debt’s largest pool of money, are no longer a source of growth for the $1.7 trillion industry.
Wholesale inflation increased more than expected last month. The producer price index for final demand increased 0.2% month-over-month (s.a.). On an annual basis, headline PPI decelerated from 2.1% in July to 1.7% in August.
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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