Nerd's Eye View

JUNE 21, 2023

All investment advisers are fiduciaries that owe a duty of care and loyalty to their clients, and, in an ideal world, advisory firms and their staff would abide by these requirements without the need for a prescriptive code of ethics. However, the early 2000s were plagued by a variety of SEC enforcement actions that alleged fiduciary duty violations – primarily involving trading abuses by investment advisory personnel – which led the regulator to create a rule (that became effective

Ethics 188

Ethics Fiduciary Duty Compliance Clients 188

The Reformed Broker

JUNE 17, 2023

Please read this from Michael Santoli: Just as the depth of despond evident in investor-sentiment gauges around Labor Day was out of proportion to what the market and economy had been doing, the volume of cheer engendered by this four-week, 9% rally looks to be running at least a bit ahead of what has, after all, been a marginal upside exit from a long, grinding trading range.

Marketing 351

Marketing Marketing Economy 351

The Big Picture

JUNE 17, 2023

This week, we speak with Gretchen Morgenson, senior financial reporter for the NBC News investigative unit. A former stockbroker and alumna of the New York Times and Wall Street Journal, she won the Pulitzer Prize in 2002 for her “trenchant and incisive” reporting on finance. She (and coauthor Joshua Rosner) recently published “ These Are the Plunderers: How Private Equity Runs―and Wrecks―America.

Taxes 327

Taxes Retail Economy Economics 327

Abnormal Returns

JUNE 18, 2023

Top clicks this week Two reasons why the stock market has surged this year. (thereformedbroker.com) Five common portfolio mistakes including 'portfolio sprawl.' (morningstar.com) The spread between the 10-year Treasury and the dividend yield on the S&P 500 is at its highest level since 2007. (capitalspectator.com) Fund fees really do matter. (humbledollar.com) A round-up of recent charts including a surge in investor sentiment.

Portfolio 272

Portfolio Investments Investing Marketing 272

Advertisement

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

Accounting

Nerd's Eye View

JUNE 20, 2023

Welcome back to the 338th episode of the Financial Advisor Success Podcast! My guest on today's podcast is Tony Hixon. Tony is the Co-founder and COO for Hixon Zuercher Capital Management, an independent RIA based in Findlay, Ohio, that oversees more than $300 million in assets under management for nearly 330 client households. What's unique about Tony's journey, is how the tragic death of his mother just 6 months after she retired, made Tony realize that even though retirees may be prepared fin

Retirement 242

Retirement Clients Financial Advisor Financial Planning 242

The Reformed Broker

JUNE 23, 2023

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Mark Newton, and Downtown Josh Brown discuss market sentiment, buying the dip, the DeMARK Indicator, fundamental vs technical analysis, industrials, commodities, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!

Marketing 200

Marketing Marketing 200

Abnormal Returns

JUNE 18, 2023

Markets Joshua Brown, "The thing that everyone’s talking about is not always the thing that ends up mattering." (thereformedbroker.com) Three reasons why the stock market is higher this year. (tker.co) Higher yields are the biggest potential headwind for stocks. (awealthofcommonsense.com) Strategy To reach the top level of a craft you have to have a passion for it.

Financial Advising 246

Financial Advising Government Media Taxes 246

Nerd's Eye View

JUNE 23, 2023

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week’s edition kicks off with the news that amid a flurry of SEC-proposed rules for investment advisers, the Investment Adviser Association this week called on the regulator to assess whether the compliance burden these regulations would put on advisers outweighs the potential benefits and, if adopted, to consider rolling them out on a staggered basis to give advisers sufficient time to implement them.

Financial Planner 231

Financial Planner Recruitment Compliance Financial Advisor 231

The Reformed Broker

JUNE 17, 2023

We did Austin big this week. Supersized. BBQ, country music, sports bars, meetings, dinners, lunches, walks, scooters, forget about it. What a city. Some pics from the trip below: We were posted up at The Line hotel all week. When we bumped into the Ameriprise gang, there was quite a scuffle. Three hospitalized, two arrests. This is La Piscina, a Tex Mex spot on the pool deck of the Proper Hotel.

177

177

The Big Picture

JUNE 22, 2023

Source: FRED Wealth disparities get ever more lopsided the higher up the economic strata you climb; there is more disparity with the top 1% than the top 10%, but the biggest spreads are at the top 0.1% (and above). Consider the chart at top, created by Invictus via FRED. It shows “Share of Total Assets Held by the Bottom 50% ( red line ) versus the Share of Total Assets Held by the Top 0.1% ( green line ).

Distribution 307

Distribution Assets Economics Numbers 307

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.

Assets

Abnormal Returns

JUNE 21, 2023

Podcasts Peter Lazaroff debunks conventional wisdom with Ashby Daniels. (peterlazaroff.com) Morgan Housel on the importance of keeping low expectations. (open.spotify.com) Christine Benz and Jeff Ptak talk with Talmon Smith about the coming wealth transfer. (morningstar.com) Retirement Retirement has some distinct phases. (rationalwalk.com) Seven risks we all face in retirement.

Retirement 246

Retirement Taxes Numbers Investing 246

Nerd's Eye View

JUNE 19, 2023

Recent years have seen an increase in the number of RIAs charging fixed monthly retainer fees, and while retainer fees can have several advantages over other types of fees, one notable disadvantage – particularly as compared to traditional AUM fees, which tend to increase automatically in line with financial markets – is that financial advisors who use them must proactively raise their fees from time to time in order to keep up with business expenses, invest in new upgrades, and incr

Communication 214

Communication Clients Planning Financial Advisor 214

The Reformed Broker

JUNE 20, 2023

Join Downtown Josh Brown and Michael Batnick for another round of What Are Your Thoughts? On this week’s episode, Josh and Michael discuss the biggest topics in investing and finance, including: ►Rude Awakening – “If second half growth doesn’t re-accelerate as expected, investors are in for a rude awakening” ►Everything is Up – “Check yourself.

Investing 169

Investing Investments Marketing Marketing 169

The Big Picture

JUNE 23, 2023

My end-of-week morning train WFH reads: • What Was Nate Silver’s Data Revolution? Silver, a former professional poker player, was in the business of measuring probabilities. Many readers mistook him for an oracle. ( New Yorker ) • Boaz versus BlackRock: the fight over closed-end funds : Saba founder says he never planned to be an activist investor.

Government 279

Government Media Economics Planning 279

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

Management

Abnormal Returns

JUNE 21, 2023

Strategy Avoiding big errors plays a big role in investment success. (ritholtz.com) In a portfolio context, cash is a double-edged sword. (morningstar.com) Crypto WisdomTree ($WT) and Invesco ($IVZ) are re-filing for a spot Bitcoin ETF in light of Blackrock's ($BLK) move. (theblock.co) Good luck coming up with a model to value Bitcoin. (morningstar.com) The Grayscale Bitcoin Trust ($GBTC) is catching a bid on increased spot Bitcoin ETF talk.

Financial Advising 245

Financial Advising Startup Portfolio Media 245

Calculated Risk

JUNE 23, 2023

From Black Knight: Black Knight: Past-Due Mortgages Approach Recent Record Lows as Serious Delinquencies Continue Improvement; Prepayments See Seasonal Rise • Reversing much of April’s calendar-driven spike, the national delinquency rate fell 11 basis points (bps) in May to hit 3.10% – the lowest it’s been other than March 2023’s record of 2.92% • The number of borrowers a single payment past due improved by 94K (-9.5%), erasing nearly half of the prior month’s increase • Serious delinquencies (

Numbers 145

Numbers Sales 145

The Reformed Broker

JUNE 20, 2023

Final Trades: Lennar, Shake Shack, Health Care & more from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.

169

169

The Big Picture

JUNE 17, 2023

The weekend is here! Pour yourself a mug of coffee, grab a seat outside, and get ready for our longer-form weekend reads: • Who Builds The Internet? Meet Wikipedia’s Architects : The world wide web of Wikipedia, as told by its editors. ( Byline ) • Microsoft’s Sudden AI Dominance Is Scrambling Silicon Valley’s Power Structure : The company has quietly cornered the emerging software market, and it’s preparing to cash in. ( Businessweek ) see also How Nvidia Became ChatGPT’s Brain and Joine

Medicine 265

Medicine Communication Marketing Marketing 265

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.

Accounting

Abnormal Returns

JUNE 23, 2023

The biz Spotify's ($SPOT) podcasting plans are unraveling. (theverge.com) Who listens to true crime podcasts? (pewresearch.org) Companies Benjamin Gilbert and David Rosenthal talk with Uber ($UBER) CEO Dara Khosrowshahi. (acquired.fm) Jesse Pujji talks with Joe Frankenfield, Portfolio Manager at Saga Partners, about the business of Roku ($ROKU). (joincolossus.com) Economy Michael Klein talks with Steven Durlauf about inter-generational changes in income.

Portfolio Management 243

Portfolio Management Banking Economy Management 243

Calculated Risk

JUNE 22, 2023

The DOL reported : In the week ending June 17, the advance figure for seasonally adjusted initial claims was 264,000 , unchanged from the previous week's revised level. The previous week's level was revised up by 2,000 from 262,000 to 264,000. The 4-week moving average was 255,750, an increase of 8,500 from the previous week's revised average. This is the highest level for this average since November 13, 2021 when it was 260,000.

145

145

A Wealth of Common Sense

JUNE 20, 2023

To be a successful investor you need to possess a number of different traits. You need to understand how math, statistics and probabilities work. You need to understand corporations and the global economy generally function over the long haul. You need an understanding of how the different asset classes behave from a risk and reward perspective. You also need a deep understanding of financial market history from booms to.

Financial Advice 142

Financial Advice Math Economy Financial Market 142

The Reformed Broker

JUNE 22, 2023

Final Trades: Oracle, MasTec, Alaska Air, & more from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.

141

141

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

Abnormal Returns

JUNE 23, 2023

Finance Have investors been fooled by the risk profile of private debt? (washingtonpost.com) Stock-based compensation only continues to grow. (ft.com) Housing Need a break on apartment rent? Just give it a minute. (bloomberg.com) Housing inventory is set to go negative year-over-year. (calculatedriskblog.com) Restaurants AI drive thru assistants may be good for business, but not for users.

Financial Advising 243

Financial Advising Economy Media 243

Calculated Risk

JUNE 21, 2023

From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey Mortgage applications increased 0.5 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending June 16, 2023. The Market Composite Index, a measure of mortgage loan application volume, increased 0.5 percent on a seasonally adjusted basis from one week earlier.

Accounting 144

Accounting Marketing Marketing 144

A Wealth of Common Sense

JUNE 18, 2023

Wealth is a relative feeling. Some people compare their level of wealth to other people. Some people compare their level of wealth to their previous levels of wealth. Some people think of wealth in terms of the material possessions they own. Some people think of wealth in terms of how much money they make. Some people think of wealth in terms of what they get trade it for.

137

137

The Big Picture

JUNE 23, 2023

Pete & I discuss Inflation, the Fed, and even get into Swiss Banking Secrecy laws. Its a fun romp through current news items and related topics. SUPD 868 Barry Ritholtz on Inflation, The Fed, Bank Rules work and Golf doesn’t The post SUPD: Inflation & The Fed appeared first on The Big Picture.

Banking 130

Banking 130

Advertisement

Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.

Planning

Abnormal Returns

JUNE 19, 2023

Podcasts Daniel Crosby talks with Michael Finke about the science of a happy retirement. (standarddeviationspod.com) Michael Kitces talks with Danika Waddell about the unique circumstances in building Xena Financial Planning. (kitces.com) Matt Reiner talks with Thomas Kopelman about authenticity and social media. (mattreiner.com) M&A Why private equity continues to flood into the RIA space.

Financial Advising 243

Financial Advising Financial Planning Media Retirement 243

Calculated Risk

JUNE 22, 2023

From WardsAuto: June U.S. Light-Vehicle Sales Pegged for 21% Gain; Q2 to Roll in at 2-Year-High 15.7 Million SAAR (pay content). Brief excerpt: Deliveries in the second quarter will total 4.1 million units, 18% above like-2022, and stronger than Q1’s 8% gain. First-half 2023 volume will total 7.67 million units, up 13% from January-June 2022’s 6.78 million. emphasis added Click on graph for larger image.

Sales 143

Sales Marketing Marketing 143

Wealth Management

JUNE 21, 2023

Despite its advantages, portability isn’t always recommended in second marriages.

126

126

A Wealth of Common Sense

JUNE 22, 2023

A reader asks: My target date fund does a lot worse than SPY. Should I just move to an index fund for my 403(b)? The S&P 500 is the market we talk about the most frequently in the financial media so that’s the benchmark most investors use when trying to gauge performance. This is a mistake, especially if you are a diversified investor. Let’s look at an example to show why your targetdate fund might be unde.

Investments 122

Investments Investing Media Asset Allocation 122

Speaker: Ashley Harlan, MBA

What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.

Clients