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.
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.
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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
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.
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.
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.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
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
Carson Wealth
MARCH 14, 2024
By Matt Kory, Vice President, Retirement Programs Changing careers is an emotional move – there’s excitement for the new opportunity, sadness about leaving your favorite coworkers behind, depression if you weren’t ready to leave, worry about how to financially bridge the unemployment gap and anticipation of the new career all at once. Take a breath, you can take some time to understand your options.
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.
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.
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.
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.
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.
Alpha Architect
MARCH 15, 2024
In their two papers, Goulding, Harvey, and Mazzoleni showed that observed market corrections and rebounds carry predictive information about subsequent returns and showed how that information could be utilized to enhance the performance of trend-following strategies by dynamically blending slow and fast momentum strategies based on four-state cycle-conditional information.
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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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.
Nerd's Eye View
MARCH 12, 2024
Welcome back to the 376th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Eric Simonson. Eric is the Founder & CEO of Abundo Wealth, an Advice-Only RIA based in Minneapolis, Minnesota, that oversees $600M in assets under advisement for 420 client households. What's unique about Eric, though, is that Abundo has grown its base of 420 clients, and is on pace for well over $1M of revenue in 2024, despite having launched barely 4 years ago… with an "advice-
A Wealth of Common Sense
MARCH 12, 2024
Market cycles operate on numerous time horizons. Short-term trends which are often impacted by momentum and emotions. Intermediate-term trends which are more impacted by some combination of flows, themes and fundamentals. And long-term trends which are impacted mainly by fundamentals. The hard part about investing is it’s difficult to know in real-time if you’re experiencing secular or cyclical markets.
Alpha Architect
MARCH 14, 2024
When investors have a concentrated stock position that has performed well, they eventually face the same tough question: Should they continue to hold the position (and the outsized exposure it brings to their portfolio) or diversify – and face significant capital gains taxes? Exchange Funds 2.0: A Newly Accessible Way to Diversify Concentrated Positions was originally published at Alpha Architect.
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
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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.
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.
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.
Advisor Perspectives
MARCH 14, 2024
The Census Bureau's Advance Retail Sales Report for February revealed a 0.6% rebound in headline sales from January, the largest monthly rise in consumer spending since September. The latest increase, however, was lower than the anticipated 0.8% monthly growth.
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.
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
Wealth Management
MARCH 12, 2024
Private equity funds are facing a massive backlog on exits, according to a new report from Bain & Co. Publicly listed REITs are trading at a 15% discount to their consensus NAVs, based on S&P Global Market Intelligence data. These are among the investment must reads we found this week for wealth advisors.
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.
Discipline Funds
MARCH 12, 2024
Tuesday’s CPI report came in a touch hotter than expected at 3.2% on the headline and 3.8% on the core. Analysts were looking for 3.1% and 3.7%. Bonds sold off on the news as investors started to project the likelihood of later rate cuts. Some analysts will say that this is the beginning of a big resurgence in inflation or a sign that disinflation isn’t entrenched, but the early 2024 stickiness in inflation is largely unsurprising and doesn’t change the broader trend here which
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: 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.
Wealth Management
MARCH 13, 2024
Closed-end funds can help advisors achieve alpha for their clients, said FLX's CEO. However the market remains under-served when it comes to education and thought leadership.
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.
Advisor Perspectives
MARCH 13, 2024
We are in a “fourth turning,” according to Jeffrey Gundlach, where institutions will be challenged, and profound structural changes will unfold.
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