Advisor Perspectives
JANUARY 4, 2024
The US has yet to fully address one of the greatest weaknesses revealed by last year’s failure of Silicon Valley Bank and other regional lenders: Supervisors saw the problems, but they failed to compel action before it was too late.
The Big Picture
JANUARY 2, 2024
I am popping out of book leave to share this single data point that snuck out over the holidays: The Federal Reserve Bank of Philadelphia’s State Coincident Indicators for November 2023. I like the SCI – its broad, consistent, and does not operate with too big of a lag. Over the past three months, the indexes increased in 25 states, decreased in 21 states, and remained stable in four, for a three-month diffusion index of 8.
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Calculated Risk
JANUARY 2, 2024
From the Census Bureau reported that overall construction spending increased: Construction spending during November 2023 was estimated at a seasonally adjusted annual rate of $2,050.1 billion, 0.4 percent above the revised October estimate of $2,042.5 billion. The November figure is 11.3 percent above the November 2022 estimate of $1,842.2 billion. emphasis added Private spending increased and public spending decreased: Spending on private construction was at a seasonally adjusted annual rate of
Wealth Management
JANUARY 4, 2024
Six tips to ensure your approach with clients elicits smiles instead of frowns.
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
DECEMBER 31, 2023
Top clicks this week Some investment sites worth reading every week including Sam Ro's TKer. (blakebmillard.substack.com) 10 questions for 204 including 'What happens to all the cash on the sidelines?' (awealthofcommonsense.com) Putting an estimate on long term equity market returns. (morningstar.com) Six lessons learned from 20 years in the business of financial advice.
The Big Picture
JANUARY 4, 2024
Source: Visual Capitalist The post 60 Years of Stock Market Cycles appeared first on The Big Picture.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Wealth Management
JANUARY 3, 2024
Despite the initial excitement, enthusiasm for Meta’s new social media platform has been flagging among some advisors who initially signed up.
Abnormal Returns
JANUARY 3, 2024
Podcasts Christine Benz and Jeff Ptak talk with Jonathan Clements about his financial journey. (morningstar.com) Ted Seides talks with Morgan Housel about his new book "Same As Ever." (capitalallocators.com) Jim Dahle talks with Dr. Jordan Grumet, author of "Taking Stock: A Hospice Doctor's Advice on Financial Independence, Building Wealth, and Living a Regret Free Life.
The Big Picture
JANUARY 1, 2024
Happy New Year! Kick it off right with our first day of the year reads: • Everything Wall Street Got Wrong in 2023 : Stocks were supposed to slump and bonds rally as the Fed drove the US into a recession. It didn’t play out as strategists expected. ( Bloomberg ) • Crypto Animal Spirits Are Back. What’s Ahead for 2024. Bitcoin backers are looking forward to an ETF and other catalysts that could lift prices in 2024. ( Barron’s ) see also Stocks Beat the Odds This Year.
Calculated Risk
JANUARY 5, 2024
From the BLS : Total nonfarm payroll employment increased by 216,000 in December, and the unemployment rate was unchanged at 3.7 percent , the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in government, health care, social assistance, and construction, while transportation and warehousing lost jobs. The change in total nonfarm payroll employment for October was revised down by 45,000, from +150,000 to +105,000, and the change for November was revised down by 2
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
Wealth Management
JANUARY 4, 2024
Steering through the escalating complexities of global wealth stewardship.
Abnormal Returns
JANUARY 2, 2024
Markets How major asset classes performed in December 2023. (capitalspectator.com) 2023 was a welcome respite from 2022, market-wise. (awealthofcommonsense.com) Growth stocks have trounced value over the past decade no matter the geography. (albertbridgecapital.com) Strategy 10 predictions for 2024 including 'The economy overheats.' (theirrelevantinvestor.com) Don't get caught sitting in cash in 2024.
Nerd's Eye View
JANUARY 5, 2024
Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that comment letters submitted regarding the Department of Labor's (DoL) proposed Retirement Security Rule, which is intended to strengthen standards regarding the provision of certain retirement-related advice, reflect the contentious nature of the proposal, with brokerage and insurance industry groups arguing that existing regulations are sufficient to protect investors
Calculated Risk
JANUARY 5, 2024
The headline jobs number in the December employment report was above expectations, however employment for the previous two months was revised down by 71,000, combined. The participation rate and the employment population ratio both decreased, and the unemployment rate was unchanged at 3.7%. Leisure and hospitality gained 40 thousand jobs in December.
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Wealth Management
DECEMBER 31, 2023
F2 Strategy co-founder and CEO Doug Fritz provides his take on the most important wealth management technology news of the last month.
Abnormal Returns
DECEMBER 31, 2023
Markets Asset class returns were pretty green in 2023 except for commodities. (on.spdji.com) Some of the best charts of 2023. (entrylevel.topdowncharts.com) Bitcoin A price war has already broken out for the yet-to-be-launched spot Bitcoin ETF. (theblock.co) Spot Bitcoin ETFs will be run by the biggest financial players on the planet. (blockworks.co) Companies How Stanley ($SWK) turned the Quencher into a hot consumer product.
Nerd's Eye View
JANUARY 3, 2024
Niels Bohr famously observed that "Prediction is very difficult, especially if it's about the future!" The sentiment is especially poignant when it comes to economic forecasting, as it's nearly impossible to get an accurate picture of the current state of the economy at any given moment. As a result, uncertainty about how the economy may unfold, even along the shortest time frames, is the default.
Calculated Risk
JANUARY 1, 2024
Altos reports that active single-family inventory was down 2.9% week-over-week and finished 2023 up 4.4% year-over-year. Inventory will likely decrease seasonally until the Spring. Click on graph for larger image. This inventory graph is courtesy of Altos Research. As of December 29th, inventory was at 513 thousand (7-day average), compared to 529 thousand the prior week.
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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?
Wealth Management
JANUARY 5, 2024
2024 kicked off with a flurry of activity in the RIA space, including at least 11 deals, some key people moves, and one rebrand.
Abnormal Returns
JANUARY 1, 2024
Podcasts Michael Kitces talks with Rob Nelson who is the CEO and Founder of NorthRock Partners about offering clients a wider set of services. (kitces.com) Thomas Kopelman on the power of backdoor Roth IRA conversions. (podcasts.apple.com) Advisers The RIA keeps taking market (and mind) share. (thinkadvisor.com) A review of the RIA world in 2023. (riabiz.com) Can a fiduciary adviser safely use AI-generated advice?
Nerd's Eye View
JANUARY 2, 2024
Welcome to the 366th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Stevyn Guinnip. Stevyn is founder of Grow Wellthy, a health and wellness consulting firm based in Springfield, Missouri that specializes in working with busy – but not always healthy – financial advisors. What's unique about Stevyn, though, is how she combines her family roots in financial advice with her decades-long career in wellbeing and health as a coach to financial advisors,
Calculated Risk
JANUARY 2, 2024
Today, in the Real Estate Newsletter: Question #9 for 2024: What will happen with house prices in 2024? Brief excerpt: Earlier I posted some questions on my blog for next year: Ten Economic Questions for 2024. Some of these questions concern real estate (inventory, house prices, housing starts, new home sales), and I’ll post thoughts on those in the newsletter (others like GDP and employment will be on my blog).
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
Wealth Management
JANUARY 4, 2024
Will Gungoll left Edward Jones to create Buffalo Capital, a name that honors his Native American heritage and community in Enid, Okla.
Abnormal Returns
JANUARY 2, 2024
Research Is the stock market predictable? Once in awhile for short periods of time. (alphaarchitect.com) Some evidence that indexing makes markets less efficient. (nber.org) How have risk parity funds weathered the past couple of years? (markovprocesses.com) What explains the 'distress risk premium'? (alphaarchitect.com) A round-up of recent research papers including 'We’re Not So Different, High Yield Bonds and Leveraged Loans.
Nerd's Eye View
JANUARY 1, 2024
Welcome to the January 2024 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 held-away asset management platform Pontera has raised $60 million in venture capital funding as advisors increasingly seek to directly manage clients' 401(k) and other outside assets – althoug
Calculated Risk
JANUARY 4, 2024
Today, in the Real Estate Newsletter: Asking Rents Mostly Unchanged Year-over-year Brief excerpt: Here is a graph of the year-over-year (YoY) change for these measures since January 2015. Most of these measures are through November 2023, except CoreLogic is through October and Apartment List is through December 2023. The CoreLogic measure is up 2.5% YoY in October, down from 2.6% in September, and down from a peak of 13.9% in April 2022.
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.
Wealth Management
JANUARY 3, 2024
Take this quiz to find out if you understand the key strategies and techniques used by estate-planning practitioners
Abnormal Returns
JANUARY 5, 2024
Markets A look at major asset class returns in 2023. (visualcapitalist.com) Long technology, short utilities was the trade in 2023. (visualcapitalist.com) Strategy How to read all those market and economic forecasts. (morningstar.com) A look at different variants of the 60/40 portfolio. (priceactionlab.com) Hedge funds David Tepper's Carolina Panthers are at the bottom of the NFL.
The Big Picture
JANUARY 3, 2024
At The Money: Contrarian Investing. (January 3, 2024) Is contrarian investing a solid strategy, or a fool’s errand? In this episode, I speak with Michael J. Mauboussin. Head of Consilient Research at Counterpoint Global, Morgan Stanley Investment Management We discuss why it is so difficult to fight the crowd, and identify when the crowd is right and when they have gone mad.
Calculated Risk
JANUARY 5, 2024
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Due to changes at the CDC, weekly cases are no longer updated. For deaths, I'm currently using 4 weeks ago for "now", since the most recent three weeks will be revised significantly. Hospitalizations have almost quintupled from a low of 5,150 in June 2023. Hospitalizations are far below the peak of 150,000 in January 2022.
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