The Big Picture

DECEMBER 18, 2024

@TBPInvictus here Our story so far : California has been raising its minimum wage for the past decade, starting at $8/hour through 2013. Many fast food workers (specifically) got bumped to $20/hour, from $16, in April (the law is very specific about who is eligible for the increase). Over that decade, with its minimum wage rising, California’s fast food industry has bested the rest of the US by leaps and bounds.

Food 307

Food Math Numbers Economics 307

Nerd's Eye View

DECEMBER 24, 2024

Welcome everyone! Welcome to the 417th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Paul G McManus. Paul is the CEO of More Clients More Fun, a marketing company that helps financial advisors conceptualize and publish their own book in a consolidated 6-week process. What's unique about Paul, though, is how he counsels advisors not to write books for the potential royalties they could earn, but rather as a means to establish themselves as an authority in the m

Financial Advisor 220

Financial Advisor Clients Communication Accounting 220

Abnormal Returns

DECEMBER 25, 2024

Podcasts Christine Benz talks with Daniel Crosby about his new book "The Soul of Wealth: 50 Reflections on Money and Meaning." (morningstar.com) Robin Powell talks with Jonathan Clements about the importance of investor behavior. (youtube.com) Katti Gatti Tassin and Henah Velez talk about the many downsides of spending too much on your car (or pickup truck).

Financial Advice 147

Financial Advice Retirement Taxes Insurance 147

A Wealth of Common Sense

DECEMBER 3, 2024

The United States is the envy of the world in terms of financial markets and economic performance. Ruchir Sharma at The Financial Times outlines how this is impacting capital flows: Global investors are committing more capital to a single country than ever before in modern history. And the dollar, by some measures, trades at a higher value than at any time since the developed world abandoned fixed exchange rates 50 years.

Marketing 145

Marketing Marketing Financial Market Economics 145

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

Management

Calculated Risk

DECEMBER 22, 2024

Here is a review of the Ten Economic Questions for 2024. Below are my ten questions for 2025 (I've been doing this online every year for 20 years!). These are just questions; I'll follow up with some thoughts on each of these questions. The purpose of these questions is to provide a framework of how the U.S. economy will likely perform in 2025, and if there are surprises - like in 2020 with the pandemic - to adjust my thinking.

Economics 116

Economics Economy Sales Commission 116

The Big Picture

DECEMBER 5, 2024

We lost one of the greats this week: Art Cashin passed away Sunday at the age of 83. CNBC’s Bob Pisani did a wonderful remembrance of Art: “In the intensely competitive and often vicious world of stock market commentary, Cashin was that rarest of creatures: a man respected by all, bulls and bears, liberals and conservatives alike.” It made me want to share a few of my favorite Art Cashin stories… I first met Art when I was a newbie strategist in the 2000s.

Compliance 291

Compliance Marketing Marketing Management 291

Nerd's Eye View

DECEMBER 20, 2024

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the CFP Board announced a series of proposed changes to its certification requirements, including an increase in required Continuing Education (CE) hours for current certificants to 40 hours every two years (up from the current 30 hours) and, for candidates for certification, a tightening of the Experience requirement (so that qualifying experience for the 6,000-hour "Stan

Financial Planner 226

Financial Planner Certification CFP Education 226

Abnormal Returns

DECEMBER 15, 2024

Also on the site Stuff is stuff: on the challenges of cleaning out a late parent's home. (abnormalreturns.com) Have you signed up for daily e-mail newsletter? Well, you should. (abnormalreturns.com) Top clicks this week Lessons learned from the young Warren Buffett. (wsj.com) Google ($GOOGL) has never been this cheap relative to the market. (sherwood.news) Want to understand the current market regime?

Investments 173

Investments Investing Marketing Marketing 173

A Wealth of Common Sense

DECEMBER 12, 2024

We also covered questions about how AI will impact the financial advice landscape, timing the next market correction, factoring an inheritance into the house-buying process and using long-dated options in a portfolio. Further Reading: All-Time Highs in the Stock Market are Usually Followed by All-Time Highs 1The most over any 10 year time frame was 344.

Investing 119

Investing Investments Financial Advice Portfolio 119

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.

Accounting

Calculated Risk

DECEMBER 4, 2024

Fed's Beige Book Economic activity rose slightly in most Districts. Three regions exhibited modest or moderate growth that offset flat or slightly declining activity in two others. Though growth in economic activity was generally small, expectations for growth rose moderately across most geographies and sectors. Business contacts expressed optimism that demand will rise in coming months.

Economics 111

Economics Economy Sales Investments 111

Carson Wealth

DECEMBER 5, 2024

Giving is an important part of our society. It provides us the opportunity to support causes we believe in and make a positive impact. Keep in mind, giving isn’t always about donating money. It can also include volunteering time or donating goods and resources. Here are some examples of the impact: 1 In 2023, Americans donated $557.16 billion, 67% of this giving was attributed to individuals.

Taxes 119

Taxes Nonprofit Accounting Assets 119

The Big Picture

DECEMBER 19, 2024

I have been playing a lot this year with ChatGBT, and saved some of my favorites. This is one of them: Chapter 1: The Creation of the Market In the beginning, the Trader created the Market and the Economy. The Market was formless and void, and volatility was upon the face of the indices. The Spirit of Investment hovered over the trading floor. And the Trader said, “Let there be Value,” and there was Value.

Startup 223

Startup Portfolio Marketing Marketing 223

Nerd's Eye View

DECEMBER 27, 2024

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that according to a recent study by DeVoe & Company, only 42% of RIAs surveyed have written succession plans and either have begun to implement them or have already done so. The report suggests this might be due in part to increased RIA valuations and the assumption of some firm founders that next-generation employees won't be financially able to buy out the firm from them,

Financial Planner 225

Financial Planner Insurance Coverage Insurance Valuation 225

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.

Accounting

Abnormal Returns

DECEMBER 2, 2024

Markets How major asset classes performed in November 2024. (capitalspectator.com) Crypto Why managing a leveraged Microstrategy ($MSTR) ETF is harder than it looks. (wsj.com) Crypto ETFs continue to attract record inflows. (msn.com) Silk Road Bitcoin are in motion. (coindesk.com) Crypto is a 24/7/365 enterprise. (howardlindzon.com) Private credit The private credit industry how has its own data companies.

Communication 162

Communication Manufacturing Media Banking 162

A Wealth of Common Sense

DECEMBER 5, 2024

We also touched on questions about managing your brokerage account, the best way to optimize asset location, RSUs vs. HELOCs when paying for a home renovation and jewelry as an asset class. Further Reading: 10 Money Revelations in my 40s 1And these peer rankings are net worth figures. This reader didn’t mention how much debt or home equity his family has, if any.

Retirement 125

Retirement Assets Accounting Management 125

Wealth Management

DECEMBER 27, 2024

Richard Hill, the head of Cohen & Steers real estate strategy, talks about how financial advisors should tackle commercial real estate investment next year.

Financial Advisor 107

Financial Advisor Management Investing Investments 107

Calculated Risk

DECEMBER 29, 2024

Earlier I posted some questions on my blog for next year: Ten Economic Questions for 2025. Some of these questions concern real estate (inventory, house prices, housing starts, new home sales), and I posted thoughts on those in the newsletter (others like GDP and employment will be on this blog). I'm adding some thoughts and predictions for each question.

Economics 111

Economics Sales Numbers Investing 111

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Planning

The Big Picture

DECEMBER 14, 2024

The weekend is here! Pour yourself a mug of Colombia Tolima Los Brasiles Peaberry Organic coffee, grab a seat outside, and get ready for our longer-form weekend reads: You Want That Gift to Arrive Today? This Is What It Takes. Retailers like Amazon, Walmart and Target have figured out that if they get you your online order today, you will probably spend more tomorrow. ( New York Times ) Have we reached peak PreCheck?

Medicine 246

Medicine Retail Management Investing 246

Nerd's Eye View

DECEMBER 16, 2024

When a financial planning firm is hiring a new employee, it naturally wants to find the best candidate to fill the role. However, some firms may unintentionally limit the applicant pool by using a promotion and selection process that doesn't focus on the most important traits or that introduces biases, which can lead to missing out on candidates who might otherwise have been well-suited for the position.

Advertising 244

Advertising CFP Financial Advisor Financial Planning 244

Abnormal Returns

DECEMBER 1, 2024

Markets The S&P 500 returned 5.87% in November 2024. (on.spdji.com) It's hard to make the math on hedge funds add up. (humbledollar.com) Companies The biggest risks to Google ($GOOGL) have nothing to do with anti-trust concerns. (wsj.com) The Microstrategy ($MSTR) story will make for a great book one day. (readtrung.com) AI It looks like Twitter shareholders are going to get bailed out by their stake in xAI.

Math 173

Math Budgeting Food Taxes 173

Advisor Perspectives

DECEMBER 4, 2024

Understanding how money impacts human behavior and psychology may help serve your clients effectively.

Financial Advisor 111

Financial Advisor Clients 111

Advertisement

As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.

Banking

Wealth Management

DECEMBER 3, 2024

The uncertain shape and scope of President-elect Donald Trump’s proposed tariffs represent the biggest wildcard to the stock outlook for 2025, according to Morningstar. Several ETF sponsors have filed to roll out new crypto ETFs that provide some buffer protections to lower the overall risk profile, reports Financial Times. These are among the investment must reads we found this week for wealth advisors.

Wealth Advisor 98

Wealth Advisor Investing Investments 98

Calculated Risk

DECEMBER 4, 2024

Today, in the Calculated Risk Real Estate Newsletter: Inflation Adjusted House Prices 1.4% Below 2022 Peak Excerpt: It has been over 18 years since the bubble peak. In the September Case-Shiller house price index released last week, the seasonally adjusted National Index (SA), was reported as being 75% above the bubble peak in 2006. However, in real terms, the National index (SA) is about 11% above the bubble peak (and historically there has been an upward slope to real house prices).

Numbers 109

Numbers 109

The Big Picture

DECEMBER 30, 2024

Arthur Zeikel was a founding principal of Standard & Poor’s/InterCapital, Inc., and served as Chairman of the Board. He eventually became president of Merrill Lynch Asset Management, leading the division with a value-oriented approach and a focus on long-term fundamentals. He was an adjunct professor at NYU STern School of Business. He co-authored Investment Analysis and Portfolio Management , now in its fifth edition.

Investing 148

Investing Investments Risk Tolerance Portfolio Management 148

Nerd's Eye View

DECEMBER 26, 2024

Just a few decades ago, giving financial advice was largely a manual process – printing lengthy financial plans, processing physical checks, and managing paper files. Then, technology evolved, introducing tools like Excel, the internet, and sophisticated financial planning and CRM software that transformed how advisors deliver financial advice.

Financial Planning 191

Financial Planning Planning Financial Advice Clients 191

Speaker: Joe Buhrmann, MBA, CFP®, CLU®, ChFC® Senior Financial Planning Practice Management Consultant eMoney Advisor

During an era of evolving consumer preferences, the banking sector is undergoing a profound shift. As customers continue to broaden their perspectives, banking professionals must support their customers' financial wellness by providing holistic financial advice that aligns with individual goals and circumstances. Without adapting, financial institutions will find that loyalty may crumble amid uncertainty.

Financial Advice

Abnormal Returns

DECEMBER 31, 2024

Markets The U.S. stock market is set for its best two-year performance since 1997-98. (wsj.com) After a good start, energy sector performance has faded. (axios.com) Intel ($INTC) had its worst year as a public company. (cnbc.com) Gold had its best year since 2010. (msn.com) Finance Can Treasury primary dealers handle the ongoing funding calendar? (bloomberg.com) Traditional actively managed equity mutual funds saw record outflows in 2024.

Media 173

Media Economy Economics Numbers 173

Advisor Perspectives

DECEMBER 3, 2024

The decision of whether to generate lifetime income with an annuity should be made on its own merits, e.g., as part of a holistic, goals-based investing process. In those cases where annuitized income is deemed beneficial, though, this article has illustrated why the purchase of a qualified annuity from IRA assets may be more attractive than you might expect.

Assets 111

Assets Investing Investments 111

Wealth Management

DECEMBER 25, 2024

iCapitals Lawrence Calcano points to continued innovation in tech and product development as key to making alts more hospitable for advisors.

Portfolio 108

Portfolio 108