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

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Clients Management Wealth Management Insurance Coverage 236

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.

Marketing 361

Marketing Marketing 361

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.

Banking 339

Banking Accounting Insurance Marketing 339

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.

Retirement 276

Retirement Accounting Investing Investments 276

Speaker: Amanda Adams, Fractional CFO, CPA

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, 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

Nerd's Eye View

MARCH 13, 2023

For the past several decades, platforms for advisors have differentiated with the quality of their technology. The focus on ‘tech’ was a natural evolution for advisor platforms away from their roots – which was originally to differentiate by the quality of their proprietary product shelf, the primary means that brokerage firms and insurance companies attracted advisors to them in the 1960s, 70s, and 80s.

Compliance 212

Compliance Portfolio Management Planning Financial Advisor 212

The Big Picture

MARCH 15, 2023

Programming note: Morning Reads will be in Dallas Thursday and Friday — we will be back on the weekend… My mid-week morning train reads: • Dissecting Goldman’s gory $2.25bn SVB equity issue Well that escalated quickly. ( Financial Times ) • Whose Fault is it Anyway : It has been 872 days since a bank failed in the United States. This was the longest streak on record.

Banking 292

Banking Food Startup Media 292

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.

Retirement Planning 246

Retirement Planning Retirement Financial Services Financial Advisor 246

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.

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The Reformed Broker

MARCH 15, 2023

Apparently it’s news to the whole world this morning that Credit Suisse is some sort of undead Swiss zombie bank worth more dissected and sold off in chunks than alive. Who knew? Oh wait – everyone knew, for a long time now. Open secret. Single digit stock price. Come on. I meet financial advisors at industry events and cocktail parties – I wince when they say they work at Credit Suisse.

Financial Advisor 277

Financial Advisor Banking Marketing Marketing 277

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

The Big Picture

MARCH 14, 2023

My Two-for-Tuesday morning train reads: • Bank Runs, Now & Then : The Panic of 1907 would probably be more famous if it wasn’t overshadowed by the Great Depression just a couple of decades later. It lasted 15 months and saw GDP decline an estimated 30% (even more than the Great Depression). Commodity prices crashed. Bankruptcies exploded. The stock market fell 50%.

Banking 255

Banking Assets Media Investing 255

Abnormal Returns

MARCH 17, 2023

Finance Why First Republic Bank ($FRC) isn't bouncing. (thebasispoint.com) WeWork ($WE) has reached a deal with Softbank to restructure its debt. (nytimes.com) Fidelity Crypto is now live. (theblock.co) SVB SVB didn't go bust because it was woke. (theverge.com) But poorly managed remote work maybe did. (axios.com) How the downfall of SVB could affect climate and biotech startups.

Financial Advising 246

Financial Advising Startup Banking Manufacturing 246

Calculated Risk

MARCH 16, 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 Mar 11, 2023 • Active inventory growth continued to climb with for-sale homes up 61% above one year ago. Inventories of for-sale homes rose, tying last week’s gain, which was the lowest we’ve seen since December.

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Sales Numbers Marketing Marketing 143

The Irrelevant Investor

MARCH 14, 2023

It has been 872 days since a bank failed in the United States. This was the longest streak on record. We’re now at day zero. Silicon Valley bank went down on Friday. Signature Bank last night. These are the second and third largest bank failures in history behind Washington Mutual during the GFC. People are scared, mad, and looking for someone to blame.

Banking 138

Banking 138

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Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

Accounting

The Big Picture

MARCH 12, 2023

Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures: • In the Hunt for Fraud, the Red Flags Start With the Auditor : With its Adani report, Hindenburg zeroed in on the tiny firm’s thin staff and client roster. ( Institutional Investor ) • Norfolk Southern’s accident rate spiked over the last decade : An analysis of federal railroad data shows accidents rising as investigators probe the company’s “safety culture.” ( Politico ) • Why Pov

Media 242

Media Government Assets Investing 242

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.

Financial Advising 246

Financial Advising Banking Startup Communication 246

A Wealth of Common Sense

MARCH 17, 2023

There were a lot of surprising details that came to light from the Silicon Valley Bank fiasco. It was surprising how quickly a bank run took hold for such a large institution. It was surprising how quickly the bank’s customers fled one of their most trusted partners. It was surprising how seemingly little oversight this now systemically important bank had.

Management 133

Management Banking 133

Steve Sanduski

MARCH 14, 2023

Guest: Gayle Colman , Certified Financial Planner®, Master Integral Coach®, and author of the new book The Body of Money. In a Nutshell: Financial decisions are often framed as a tug of war between the head and the heart. But by paying attention to how the whole body expresses feelings around money, advisors can guide clients past their fears and towards a fulfilling sense of sufficiency and inner knowing. – Gayle Colman and I discuss: Gayle’s early history with the life planning mov

Certified Financial Planner 119

Certified Financial Planner Financial Planner Clients Planning 119

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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

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.

Investing 132

Investing Investments 132

Abnormal Returns

MARCH 15, 2023

Markets The demise of SIVB upended all manner of market trends. (wsj.com) The bond market reversal caught a lot of managed futures funds offsides. (rcmalternatives.com) Why Treasury bonds are not risk-free. (rationalwalk.com) Media Disney ($DIS) has some big strategic decisions to make. (on.ft.com) Free streaming numbers are moving up and to the right.

Financial Advising 246

Financial Advising Media Risk Management Banking 246

A Wealth of Common Sense

MARCH 12, 2023

Silicon Valley Bank, the 16th biggest bank in the country, was closed on Friday. It was the second-biggest bank failure in U.S. history. As recently as November 2021, the market cap of the company was more than $44 billion. That equity is now essentially worthless. There is a lot to this story but it really boils down to an old-fashioned bank run. A flood of withdrawals from depositors destroyed the bank.

Banking 121

Banking Marketing Marketing 121

The Irrelevant Investor

MARCH 15, 2023

What does the failure of Silicon Valley Bank mean? Are we going into a recession? Is the fed done raising rates? Is the stock market going to crash? Everyone has an opinion that is reflected in the market. So let’s see what the market is saying. People are rightfully worried about how the fall of SVB might impact other regional banks. There is full-on panic in those names.

Marketing 113

Marketing Marketing Banking 113

Speaker: Igli Laci, Strategic Finance Leader

In today’s competitive market, pricing is more than just a number — it’s the cornerstone of profitability. The right pricing strategy ensures that you capture the true value of your offering, paving the way for sustainable growth and long-term success. Join Igli Laci, Strategic Finance Leader, in this exclusive session where he will explore how a well-crafted pricing approach balances customer perception with business objectives, creating a powerful tool for securing both competitive advantage a

Numbers

Getting Your Financial Ducks In A Row

MARCH 13, 2023

Photo credit: jb For the most part, it is recommended to merge all of your IRA money together into a single account, to simplify record-keeping, allocation, and paperwork in general. However, there may be circumstances where it could make very good sense to separate your contributory IRAs from 401(k) plan rollovers – and it pertains to creditor’s rights.

Retirement Planning 112

Retirement Planning Accounting Planning Retirement 112

Abnormal Returns

MARCH 14, 2023

Strategy What investing lessons can we cull from the downfall of SVB? (portfoliocharts.com) Safe assets aren't safe if there is a duration mismatch. (fortunesandfrictions.com) Even great companies will 'decline eventually.' (neckar.substack.com) Silicon Valley Bank There is plenty of blame to go around for the downfall of SVB including the pandemic.

Startup 244

Startup Financial Guidance Financial Advising Media 244

Your Richest Life

MARCH 15, 2023

As Donna Meagle and Tom Haverford said in Parks and Rec, “Treat yo’ self!” Treating yourself means spending time and money on the things that bring you joy. Whether you love jewelry, travel, books or sports, treating yourself can be a very positive, and smart, way to spend your money. On the flip side, it can also get out of hand if you’re not careful.

Budgeting 111

Budgeting Financial Planner Planning Financial Planning 111

Wealth Management

MARCH 16, 2023

The Investment Adviser Association, the trade group for RIAs, said it appreciated the additional time and was worried about the “interrelatedness of the SEC's current proposals." The commission also proposed updates to cybersecurity rules for brokers.

Commission 111

Commission Investing Investments 111

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

The Irrelevant Investor

MARCH 16, 2023

Today’s show is sponsored by Kraneshares: See here for more information on investing in Kraneshares Climate or China-focused ETFs On today’s show, we discuss: First Republic reaches rescue deal with other banks Goldman boosts US recession odds after slashing GDP forecast TRB on Credit Suisse Credit Suisse is in crisis, what went wrong? Barney Frank talks more about the surprise shuttering of Signature Bank.

Banking 106

Banking Investing Investments 106

A Wealth of Common Sense

MARCH 14, 2023

On last week’s Animal Spirits we asked why the Fed’s aggressive rate cuts had yet to break anything in the economy: Sure, the housing market is basically broken, but everything else has held up relatively well…until last week that is. We recorded our show on Tuesday. By the weekend we would see the 2nd and 3rd largest bank failures in U.S. history, including the biggest bank run we’ve ever seen.

Banking 104

Banking Economy Marketing Marketing 104

Advisor Perspectives

MARCH 17, 2023

The March preliminary report for the Michigan Consumer Sentiment Index came in at 63.4, down 3.6 (-5.4%) from the February final. This morning's reading was the first monthly decline in the last four months and came in below the Investing.com forecast of 66.9. Since its beginning in 1978, consumer sentiment is 25.7% below its average reading (arithmetic mean) and 24.7% below its geometric mean.

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