The Big Picture
MARCH 15, 2024
We sometimes say “Demographics is Destiny,” but that’s abstract. To get a visual sense of what that looks like, see the above chart (via Blackrock ) showing the distribution of various age groups from 2075 to 2050. Note bars in Red are not in the workforce. The post U.S. population distribution, 1975-2050 appeared first on The Big Picture.
Wealth Management
MARCH 14, 2024
The wealthtech company introduced several new features that bring it one step closer to creating a unified system.
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Abnormal Returns
MARCH 13, 2024
Crypto Travis Kling, "The evidence for the rise of Financial Nihilism is all around us." (epsilontheory.com) How much is Bitcoin worth? Nobody really knows. (wired.com) The spot Bitcoin ETF fee war is here. (etf.com) Finance Why Evercore ($EVR) is outperforming other investment banks. (on.ft.com) There is still a lot of uncertainty around office building valuations.
Calculated Risk
MARCH 14, 2024
Today, in the Calculated Risk Real Estate Newsletter: Part 2: Current State of the Housing Market; Overview for mid-March 2024 A brief excerpt: Yesterday, in Part 1: Current State of the Housing Market; Overview for mid-March 2024 I reviewed home inventory, housing starts and sales. In Part 2, I will look at house prices, mortgage rates, rents and more - and review the house price outlook for 2024.
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
MARCH 9, 2024
The weekend is here! Pour yourself a mug of coffee, grab a seat by the fire, and get ready for our longer-form weekend reads: • The economy is roaring. Immigration is a key reason. Momentum in the job market picked up aggressively over the past year — all while Washington is deadlocked on a border deal ( Washington Post ) • The Errors Tour: How the Pros Bungled the End of Zero Interest Rates : A look at the ways forecasters, traders and executives missed the mark over the past two years.
Wealth Management
MARCH 15, 2024
Advisors are increasingly relying on technology to become more efficient and streamline operations. Urs Bolt details what's driving this shift.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Calculated Risk
MARCH 12, 2024
Here are a few measures of inflation: The first graph is the one Fed Chair Powell had mentioned when services less rent of shelter was up around 8% year-over-year. This declined and is now up 3.9% YoY (increased recently). Click on graph for larger image. This graph shows the YoY price change for Services and Services less rent of shelter through February 2024.
The Big Picture
MARCH 13, 2024
At the Money: How To Know When The Fed Will Cut with Jim Bianco (March 13, 2024) Markets have been waiting for the Federal Reserve to begin cutting rates for over a year. What data should investors be following for insight into when they will begin? Jim Bianco discusses initial unemployment claims data and wage gain to identify when the Fed will start lowering rates.
Wealth Management
MARCH 12, 2024
Rising valuations and growing opportunities for media rights and sponsorships make professional sports teams an attractive bet. However, data on how these investments will work in the long term remains scarce.
Abnormal Returns
MARCH 14, 2024
Crypto How Grayscale nabbed the coveted $BTC ticker. (axios.com) Clients are asking advisers about crypto. (wsj.com) Finance Swearing on company conference calls is on the rise. (ft.com) ARMs are no longer a bargain. (wsj.com) Media Hollywood is rethinking the value of mergers. (hollywoodreporter.com) Derek Thompson talks with Lucas Shaw about the end of the franchise formula.
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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.
Calculated Risk
MARCH 15, 2024
From the Fed: Industrial Production and Capacity Utilization Industrial production edged up 0.1 percent in February after declining 0.5 percent in January. In February, the output of manufacturing rose 0.8 percent and the index for mining climbed 2.2 percent. Both gains partly reflected recoveries from weather-related declines in January. The index for utilities fell 7.5 percent in February because of warmer-than-typical temperatures.
Nerd's Eye View
MARCH 11, 2024
Referrals can play a vital role in the growth of financial advisory firms since finding prospective clients via referral requires virtually no hard-dollar costs, and it takes only a fraction of the time needed for other marketing channels like social media, blogging, and seminars. However, finding reliable sources of referrals can sometimes be challenging for advisors: Centers of Influence (COIs) like accountants and attorneys may not be as attuned to the advisor's services as the advisor's clie
Wealth Management
MARCH 12, 2024
Northwestern’s Trenton Hazen will lead new division and develop retirement plan services as the $500M RIA builds out a family office framework.
Abnormal Returns
MARCH 11, 2024
Podcasts Zach Conway and Kelsey McKenna talk with Michael Batnick about Ritholtz Wealth's discuss leading with culture, effective hiring strategies, and building a strong foundation for your business. (youtube.com) Brendan Frazier on the benefit to shifting from “Advisor-Driven” to “Client-Inspired” advice. (wiredplanning.com) Jonathan Fields talks with Ashton Applewhite, author of "This Chair Rocks: A Manifesto Against Ageism.
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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 11, 2024
Altos reports that active single-family inventory was up 0.4% week-over-week. It is likely inventory bottomed in mid-February, as opposed to mid-April in 2023, and inventory is now up 1.3% from the 2024 February bottom. Click on graph for larger image. This inventory graph is courtesy of Altos Research. As of March 8th, inventory was at 501 thousand (7-day average), compared to 498 thousand the prior week.
Nerd's Eye View
MARCH 11, 2024
Referrals can play a vital role in the growth of financial advisory firms since finding prospective clients via referral requires virtually no hard-dollar costs, and it takes only a fraction of the time needed for other marketing channels like social media, blogging, and seminars. However, finding reliable sources of referrals can sometimes be challenging for advisors: Centers of Influence (COIs) like accountants and attorneys may not be as attuned to the advisor's services as the advisor's clie
Wealth Management
MARCH 13, 2024
Will you be there to help clients with wills, trusts and estate planning needs?
Abnormal Returns
MARCH 14, 2024
Books An excerpt from Abigail Shrier’s new book, “Bad Therapy: Why the Kids Aren’t Growing Up.” (wsj.com) An excerpt from "The Human Disease: How We Create Pandemics, From Our Bodies to Our Beliefs" by Sabrina Sholts. (smithsonianmag.com) An excerpt from "Supercommunicators: How to Unlock the Secret Language of Connection" by Charles Duhigg. (behavioralscientist.org) American Flannel An excerpt from "American Flannel: How a Band of Entrepreneurs Are Bringing the Art and Business of Making Clothe
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
Calculated Risk
MARCH 13, 2024
Today, in the Calculated Risk Real Estate Newsletter: Q4 Update: Delinquencies, Foreclosures and REO A brief excerpt: I’ve argued repeatedly that we would NOT see a surge in foreclosures that would significantly impact house prices (as happened following the housing bubble). The two key reasons are mortgage lending has been solid, and most homeowners have substantial equity in their homes.
Nerd's Eye View
MARCH 13, 2024
Most of the time, people are subject to state taxes in the states where they live and/or earn their income. So when moving to a lower-tax state or another, their income tax burden likewise shifts to the new state along with them. Which is, for example, why so many people opt to move to lower-tax or no-tax states like Florida or Texas in retirement, where they can enjoy lower state income taxes and preserve more of their retirement savings for use by themselves or their heirs.
Wealth Management
MARCH 14, 2024
The broker/dealer network now has a formal policy on the use of the ETFs, and advisors can begin training March 25.
Abnormal Returns
MARCH 12, 2024
Private equity How has private equity performed outside the U.S.? (alphaarchitect.com) On the growing importance of private equity secondary transactions. (linkedin.com) Why do private equity firms allow co-investment? (papers.ssrn.com) Does venture debt still have a future? (papers.ssrn.com) Skewness Investors love to pay up for skewness. (alphaarchitect.com) People (poker players) love skewness.
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.
Calculated Risk
MARCH 14, 2024
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Friday: • At 8:30 AM ET, The New York Fed Empire State manufacturing survey for March. The consensus is for a reading of -8.0, down from -2.4. • At 9:15 AM, The Fed will release Industrial Production and Capacity Utilization for February. The consensus is no changed in Industrial Production, and for Capacity Utilization to decrease to 78.4%. • At 10:00 AM, University of Michigan's Consumer sentiment index (Prelim
A Wealth of Common Sense
MARCH 15, 2024
There are two types of inflation rates that matter. Economists and market observers care about the government reported data — CPI, core PCE, ex-shelter, whatever your preferred method is. Everyday Americans only care about two price points — gas and grocery store prices. Why is this the case? These are the prices you experience on a regular basis.
Wealth Management
MARCH 11, 2024
Understanding generative artificial intelligence to maximize opportunities in estate planning and beyond.
Abnormal Returns
MARCH 15, 2024
Crypto How spot Bitcoin ETFs are managed in real life. (davenadig.substack.com) Wealth management firm Cetera Financial Group has approved four spot Bitcoin ETFs. (theblock.co) Matt Reustle talks the FTX restructuring with Erin Broderick who is a restructuring and insolvency specialist at Eversheds Sutherland. (joincolossus.com) Crypto riches could fuel another bull market in used Rolexes.
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Calculated Risk
MARCH 13, 2024
Today, in the Calculated Risk Real Estate Newsletter: Part 1: Current State of the Housing Market; Overview for mid-March 2024 A brief excerpt: This 2-part overview for mid-March provides a snapshot of the current housing market. I always like to start with inventory, since inventory usually tells the tale ! Here is a graph of new listing from Realtor.com’s February 2024 Monthly Housing Market Trends Report showing new listings were up 11.3% year-over-year in February.
A Wealth of Common Sense
MARCH 10, 2024
I entered the workforce in 2005. That means I’ve been working in the investment business for 20 years now. The longer I’m in the money management business the more there is to learn but these are some of the things I’ve learned thus far: 1. Experiences shape your perception of risk. Your ability and need to take risk should be based on your stage in life, time horizon, financial circumstances and goals.
Wealth Management
MARCH 14, 2024
The platform now includes more than a dozen fee-based alternative strategies, a comparable number of globally diversified passive strategies and five internal SMAs.
Abnormal Returns
MARCH 15, 2024
Immigration Cardiff Garcia talks immigration with Andrew Selee who is the head of the Migration Policy Institute. (podcasts.apple.com) Stephen Dubner and guests on America's 'supremely messed-up immigration system.' (freakonomics.com) Innovation Cameron Passmore and Justin Carbonneau talk with Adam Alter, whose new book "Anatomy of a Breakthrough: How to Get Unstuck When It Matters Most.
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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