Advisor Perspectives
JANUARY 17, 2024
I asked our authors and guest contributors the following question: Given the availability of spot bitcoin ETFs, would you recommend them (or any other cryptocurrency allocation) to your clients?
A Wealth of Common Sense
JANUARY 12, 2024
Bernie Sanders was railing against wealth inequality again last week: The rich do control most of the financial assets in this country. The top 10% owns close to 90% of the stock market in the U.S. Most of the income gains in the past 40 years or so have gone to the wealthy. That’s not great. But the idea that two-thirds of all Americans cannot cover an emergency expense simply doesn’t hold up to the facts.
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The Irrelevant Investor
JANUARY 19, 2024
The S&P 500 hit an all-time high today. It hasn’t done that since the first trading day of 2022. That’s 512 trading days and 747 calendar days. Just over two years. By historical standards, that wasn’t so bad. It didn’t feel great, but a two-year bear market is as normal as a blizzard in the northeast. They’ve happened before.
Calculated Risk
JANUARY 26, 2024
From the U.S. Courts: Bankruptcy Filings Rise 16.8 Percent Total bankruptcy filings rose 16.8 percent, with significant increases in both business and non-business bankruptcies, in the twelve-month period ending Dec. 31, 2023. This accelerates a continuing rebound in filings after more than a decade of sharply dropping totals. According to statistics released by the Administrative Office of the U.S.
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
The Big Picture
JANUARY 8, 2024
What are the Bull and Bear cases for 2024? I don’t do annual forecasts1 because the short-term is way too random. Instead, I prefer to consider market history and recent data, and ask “What are the possible and probable outcomes for this year?” I find it very useful as an investor to be able to see both sides of the bull-bear debate.
Wealth Management
JANUARY 17, 2024
A year of resilience and transformation as Tina Powell, former business owner, faces unexpected challenges in her 'year of health.
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Nerd's Eye View
JANUARY 31, 2024
In late 2019, Congress passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act, introducing several significant changes to retirement planning. Of the many provisions in the bill, the so-called "Death of the Stretch" arguably received the lion's share of consternation from the financial advisor community. Under the new law, non-spouse beneficiaries (with few exceptions) must now withdraw the entirety of an inherited IRA within 10 years of the account owner's passing rather
The Big Picture
JANUARY 2, 2024
I am popping out of book leave to share this single data point that snuck out over the holidays: The Federal Reserve Bank of Philadelphia’s State Coincident Indicators for November 2023. I like the SCI – its broad, consistent, and does not operate with too big of a lag. Over the past three months, the indexes increased in 25 states, decreased in 21 states, and remained stable in four, for a three-month diffusion index of 8.
Calculated Risk
JANUARY 22, 2024
Altos reports that active single-family inventory was up 0.2% week-over-week. It is not unusually to get a small increase after the holidays; however, inventory will likely decrease a little seasonally until the Spring (it could remain mostly flat for a few months like in 2019). Click on graph for larger image. This inventory graph is courtesy of Altos Research.
Calculated Risk
JANUARY 2, 2024
From the Census Bureau reported that overall construction spending increased: Construction spending during November 2023 was estimated at a seasonally adjusted annual rate of $2,050.1 billion, 0.4 percent above the revised October estimate of $2,042.5 billion. The November figure is 11.3 percent above the November 2022 estimate of $1,842.2 billion. emphasis added Private spending increased and public spending decreased: Spending on private construction was at a seasonally adjusted annual rate of
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Calculated Risk
JANUARY 29, 2024
Altos reports that active single-family inventory was down 0.6% week-over-week. Inventory will likely decrease a little seasonally until the Spring (it could remain mostly flat for a few months like in 2019). Click on graph for larger image. This inventory graph is courtesy of Altos Research. As of January 26th, inventory was at 503 thousand (7-day average), compared to 506 thousand the prior week.
Calculated Risk
JANUARY 3, 2024
From the MBA: Mortgage Applications Decreased Over a Two-Week Period in Latest MBA Weekly Survey Mortgage applications decreased 9.4 percent from two weeks earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 29, 2023. The results include adjustments to account for the holidays.
Wealth Management
JANUARY 3, 2024
Despite the initial excitement, enthusiasm for Meta’s new social media platform has been flagging among some advisors who initially signed up.
Wealth Management
JANUARY 11, 2024
In conjunction with the funding, which included investments from Ritholtz Wealth Management and Mariner, the company is also rebranding as Dispatch.
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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?
Calculated Risk
JANUARY 31, 2024
From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 7.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 26, 2024. Last week’s results included an adjustment to account for the MLK holiday.
The Big Picture
JANUARY 15, 2024
On Monday, I discussed reasons to be bullish or bearish in 2024. #2 in the bearish list is CRE/WFH : “The post-pandemic environment continues to be difficult for commercial office real estate. The banking sector has funded all of the construction and purchases over the past decade. Banks hold over $3 trillion in CRE; Unrealized losses on Treasuries and mortgages are about $684bn (Source: Torsten Slok, Apollo).
Wealth Management
JANUARY 4, 2024
Six tips to ensure your approach with clients elicits smiles instead of frowns.
Wealth Management
JANUARY 11, 2024
Two fellowship participants share their experiences in the estate planning field.
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
Wealth Management
JANUARY 23, 2024
Klein, who stepped down as CEO of Nitrogen in November, will serve as a strategic advisor for Fynancial, a new 'Social Financial Platform.
Calculated Risk
JANUARY 26, 2024
Here is a graph of the year-over-year change in shelter from the CPI report and housing from the PCE report this morning, both through December 2023. CPI Shelter was up 6.2% year-over-year in December, down from 6.5% in November, and down from the cycle peak of 8.2% in March 2023. Housing (PCE) was up 6.4% YoY in December , down from 6.7% in November, and down from the cycle peak of 8.3% in April 2023.
Calculated Risk
JANUARY 30, 2024
From the BLS: Job Openings and Labor Turnover Summary The number of job openings changed little at 9.0 million on the last business day of December , the U.S. Bureau of Labor Statistics reported today. Over the month, the number of hires and total separations were little changed at 5.6 million and 5.4 million, respectively. Within separations, quits (3.4 million) and layoffs and discharges (1.6 million) changed little. emphasis added The following graph shows job openings (black line), hires (da
Wealth Management
JANUARY 4, 2024
Steering through the escalating complexities of global wealth stewardship.
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.
Wealth Management
JANUARY 31, 2024
F2 Strategy co-founder and CEO Doug Fritz provides his take on the most important wealth management technology news of the last month.
Wealth Management
JANUARY 30, 2024
It's focusing on recruiting those with specialized tax expertise.
Calculated Risk
JANUARY 5, 2024
From the BLS : Total nonfarm payroll employment increased by 216,000 in December, and the unemployment rate was unchanged at 3.7 percent , the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in government, health care, social assistance, and construction, while transportation and warehousing lost jobs. The change in total nonfarm payroll employment for October was revised down by 45,000, from +150,000 to +105,000, and the change for November was revised down by 2
Wealth Management
JANUARY 10, 2024
The decision comes a day after the commission’s X handle was hacked, with someone falsely posting the SEC had decided to approve the funds.
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.
Calculated Risk
JANUARY 17, 2024
On a monthly basis, retail sales were up 0.6% from November to December (seasonally adjusted), and sales were up 5.6 percent from December 2022. From the Census Bureau report : Advance estimates of U.S. retail and food services sales for December 2023, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $709.9 billion, up 0.6 percent from the previous month , and up 5.6 percent above December 2022.
Calculated Risk
JANUARY 25, 2024
The Census Bureau reports New Home Sales in December were at a seasonally adjusted annual rate (SAAR) of 664 thousand. The previous three months were revised up, combined. Sales of new single‐family houses in December 2023 were at a seasonally adjusted annual rate of 664,000 , according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.
Calculated Risk
JANUARY 30, 2024
S&P/Case-Shiller released the monthly Home Price Indices for November ("November" is a 3-month average of September, October and November closing prices). This release includes prices for 20 individual cities, two composite indices (for 10 cities and 20 cities) and the monthly National index. From S&P S&P CoreLogic Case-Shiller Index Upward Trend Decelerates in November The S&P CoreLogic Case-Shiller U.S.
Wealth Management
JANUARY 30, 2024
Savvy Wealth Investment Management is the latest update to the RIA’s responsive, tech-driven platform.
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.
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