The Big Picture
MARCH 16, 2023
Depositors heaved a sigh of relief when news broke Sunday that the Federal Deposit Insurance Corporation was going to make whole all of the accounts held at Silicon Valley Bank. Having full access to bank accounts meant those tech start-ups that make up much of SVB’s depositors would be able to make their weekly payrolls. They were the lucky ones: SVB’s equity investors were wiped out and senior bank management was fired.
Calculated Risk
MARCH 5, 2023
Here is another monthly update on framing lumber prices. This graph shows CME random length framing futures through March 3rd. Lumber is currently at $369 per 1000 board feet. This is down from the peak of $1,733, and down 72% from $1,441 a year ago. Prices are down 8% compared to the same week in 2019, and below the pre-pandemic levels of around $400.
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The Reformed Broker
MARCH 12, 2023
I feel pretty confident in making this call, and I don’t make market calls very often: We have seen the top for 2-year Treasury yields. It’s not going any higher than it’s been because there’s no reason for it to. Financial conditions are now contracting hard due in part to the events of this week but also because monetary policy operates on a lag – and the first Fed Funds hike of the cycle.
Wealth Management
MARCH 2, 2023
Depending on where your clients live, property taxes can be a small inconvenience or a major burden.
Speaker: David Worrell, CFO, Author & Speaker
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.
Abnormal Returns
MARCH 12, 2023
Top clicks this week Your house is a terrible investment. (jlcollinsnh.com) It's no wonder U.S. investors have shunned international stocks. (freedomdaysolutions.com) What expanding your time horizon gets you. (behaviouralinvestment.com) How much do Americans have saved for retirement? (awealthofcommonsense.com) Morgan Housel on on the art of spending money.
Nerd's Eye View
MARCH 27, 2023
When consumers shop around before buying a good or service, many factors can play a role in their final decision, from previous experiences to the recommendations of friends and even to the companies’ branding. And when it comes to how a consumer perceives a brand, there are three critical components that come into play: brand awareness (simply knowing that the brand exists), recognition (recognizing a brand for its unique components and features), and brand equity (the value associated wi
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Calculated Risk
MARCH 16, 2023
From the Census Bureau: Permits, Starts and Completions Housing Starts: Privately‐owned housing starts in February were at a seasonally adjusted annual rate of 1,450,000. This is 9.8 percent above the revised January estimate of 1,321,000, but is 18.4 percent below the February 2022 rate of 1,777,000. Single‐family housing starts in February were at a rate of 830,000; this is 1.1 percent above the revised January figure of 821,000.
The Reformed Broker
MARCH 27, 2023
This is it. The only chart you need to concern yourself with now if you’re trying to figure out where the economy is heading. Construction and Industrial (C&I) loans are a $2.8 trillion business (approximately) for banks all over the country. If they roll over, we have a soft landing. If they roll over hard, we have a hard landing. It’s not complicated, the only thing that’s up in the air is the tim.
Wealth Management
MARCH 14, 2023
However, advisory firms who did invest in cybersecurity tools reported higher levels of satisfaction with them than in any other software category.
Abnormal Returns
MARCH 26, 2023
Top clicks this week Rising rates are still working their way through the markets and economy. (allisonschrager.substack.com) Surprises shouldn't be surprising. (mrzepczynski.blogspot.com) What risks should you actually hedge? (mr-stingy.com) Spend money on stuff that really moves the needle. (dariusforoux.com) Energy stocks are now struggling. (allstarcharts.com) The CFA Institute is overhauling its testing.
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
MARCH 15, 2023
Risk management is a key part of many financial advisors’ value propositions. For instance, ensuring clients maintain the proper insurance coverage based on their needs is an important part of the financial planning process. At the same time, clients face another class of risks that advisors often do not consider: cyber. In this article, guest authors Mark Hurley, Carmin Cicalese, Bryce Washum, and Douglas Garbutt discuss how financial advisory clients face a range of cyber risks, includin
The Big Picture
MARCH 10, 2023
Armchair quarterbacking the decisions of the Federal Reserve long ago became a blood sport. With the benefit of hindsight, we all are genius central bankers. I particularly loathe managers who lay all the woes of the world at the feet of the Federal Reserve. For more than a century, America’s central bank has been a key part of the investing environment, and it’s your job as an active manager to incorporate their probable policy decisions into your strategy.
Calculated Risk
MARCH 2, 2023
Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report released today from Chief economist Danielle Hale: Weekly Housing Trends View — Data Week Ending Feb 25, 2023 • Active inventory growth continued to climb with for-sale homes up 67% above one year ago. Inventories of for-sale homes rose again, but climbed on par with last week’s pace, which was a slightly slower yearly pace than we saw late January and early February.
The Reformed Broker
MARCH 25, 2023
And if you haven’t subscribed yet, don’t wait. Check it out below or wherever fine podcasts are played. . The post This Week on TRB appeared first on The Reformed Broker.
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Wealth Management
MARCH 28, 2023
Full-service hotels in vacation destinations are attracting equity from high-net-worth investors who are joining deals as limited partners.
Abnormal Returns
MARCH 23, 2023
Books A Q&A with Jenny Odell author of "Saving Time: Discovering a Life Beyond the Clock." (wired.com) An excerpt from "Mixed Signals: How Incentives Really Work" by Uri Gneezy. (behavioralscientist.org) Technology What jobs are generative AI going to eliminate? (unchartedterritories.tomaspueyo.com) An awe inspiring visit to a state-of-the-art semiconductor fab.
Nerd's Eye View
MARCH 28, 2023
Welcome back to the 326th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Erica Pauly. Erica is the Founder and Owner of Track That Advisor, a consulting and coaching firm based in Gilbert, Arizona, that helps advisory firms track, and then improve upon, their marketing results. What's unique about Erica, though, is how she built a series of spreadsheet tools to measure the details of each step of her advisory firm’s marketing funnel, from lead generation
The Big Picture
MARCH 29, 2023
Normally, I am a fan of Steve Rattner’s work. The former Obama “Car Czar” makes great charts and seems to be a fairly level-headed asset manager. But in the great baseball game of punditry, we all occasionally we step up to the plate and whiff. Such a down on three swings was contained in his recent NYT Op-Ed, “ Is Working From Home Really Working?
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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
MARCH 22, 2023
Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE) investment. From the AIA: Architecture Billings Index (ABI) Slowdown Continues into February More architecture firms reported a decline in billings in February, indicating an extension of a recent downturn in design activity according to a new report released today from The American Institute of Architects (AIA).
The Reformed Broker
MARCH 11, 2023
I want to start out this week with a big thank you to all our fans, friends, employees and clients who came out to see us in Chicago this week for what can only be described as a whirlwind of productivity and fun. The meetings were meaningful, the catch-ups were long overdue and the food was fantastic. We will be back! If you live in the Chicago area and could use a little help with your portfolio, tax advice or just want.
Wealth Management
MARCH 21, 2023
It’s rare to find a firm that grows strongly and consistently without a strategic growth framework approach.
Abnormal Returns
MARCH 12, 2023
Markets It's hard to see interest rates going higher at this point. (abnormalreturns.com) When the financial system is under stress, the trading environment is very different. (traderfeed.blogspot.com) Stress The Fed finally broke something. (theirrelevantinvestor.com) Bank runs happen because of people. (awealthofcommonsense.com) Why finding a buyer for SVB this weekend is so important.
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
Nerd's Eye View
MARCH 1, 2023
When holding discovery meetings with a prospective client, financial advisors often ask the prospect about their goals. The hope is that these conversations will help the prospect ease into a positive frame of mind (by thinking about a vacation, retirement, or another future aspiration) and, at the same time, present the advisor with an opportunity to show how their services can help the prospect achieve their goals.
The Big Picture
MARCH 3, 2023
Have a look at the BAML chart above. 1 It is one of my favorites, but for reasons that might not be readily apparent at first glance. The chart shows the peak-to-trough declines of all the bear markets with the popular definition of a 20% decline, measured up until the start of the first 20% rally. 2 The current move from 2021 highs is shown in red.
Calculated Risk
MARCH 28, 2023
Freddie Mac reported that the Single-Family serious delinquency rate in February was 0.65%, down from 0.66% January. Freddie's rate is down year-over-year from 0.99% in February 2022. Freddie's serious delinquency rate peaked in February 2010 at 4.20% following the housing bubble and peaked at 3.17% in August 2020 during the pandemic. These are mortgage loans that are "three monthly payments or more past due or in foreclosure".
The Reformed Broker
MARCH 10, 2023
The spectacular blow-up currently taking place at SVB and its primary subsidiary, Silicon Valley Bank, is the biggest story in the markets this week. SVB is systemically important for the technology sector and its Northern California ecosystem. As Jim Cramer put it last night, the Federal Reserve has been firing a machine gun at the economy for the last 12 months but it hasn’t hit anything yet.
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.
Wealth Management
MARCH 28, 2023
RPAs need the right people and technology in place to get “the underserved” to and through retirement.
Abnormal Returns
MARCH 15, 2023
Podcasts Morgan Housel talks about the impact of our lifestyle decisions. (open.spotify.com) Christine Benz and Jeff Ptak talk with Robert Powell about generating income in retirement. (morningstar.com) Banking Eight questions about the banking panic of 2023 including 'Is my money safe?' (awealthofcommonsense.com) Too many people are missing out on higher cash yields.
Nerd's Eye View
MARCH 6, 2023
Welcome to the March 2023 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors! This month's edition kicks off with the news that Conquest, a Canadian financial planning software provider (founded by the prior founder of NaviPlan) has raised $24M (CAD) of private equity capital in preparation for expanding its reach into the US &
The Big Picture
MARCH 22, 2023
Bank failures since 2001, scaled by amount of assets in 2023 dollars. The graphic above, via Flowing Data , puts recent events into perspective: At $209 billion in assets, the Silicon Valley Bank failure since Washington Mutual crashed in 2008 (JPM Chase took them over from the FDIC). The post U.S. Bank Failures, 2001 – Present appeared first on The Big Picture.
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.
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