The Big Picture
AUGUST 12, 2024
I’m deep in my book writing work discussing federal debt when I see a tweet that simply epitomizes the entire genre. Full disclosure: My priors on federal debt are that I don’t know where the line of too much should be drawn, but I do know that none of the terrible things we were warned about over the past 50 years due to excess debt have come to pass.
Abnormal Returns
AUGUST 11, 2024
Top clicks this week Good luck trying to figure out the stock market these days. (sherwood.news) The stock market is not economy, and vice versa. (awealthofcommonsense.com) On the differences between individual bonds and bond funds. (humbledollar.com) What to do the next time the stock market tanks. (tonyisola.com) You may be surprised by what Olympians eat.
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Nerd's Eye View
AUGUST 16, 2024
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the Securities and Exchange Commission (SEC) announced that a total of 26 broker-dealers, investment advisers, and dually-registered firms agreed to pay combined civil penalties of almost $400 million for failing to maintain and preserve required records for "off-channel" communications, signaling the regulator's interest in cracking down on text messages and other communi
A Wealth of Common Sense
AUGUST 16, 2024
I’m a neat freak, so occasionally, I clean out my office and re-organize. While doing so earlier this week I came across an old Life magazine a reader sent me a number of years ago. It’s from June 1962 and the stock market was the cover story: The pictures are fantastic. So was the lede of the story: The signs, like rumblings of an Alpine ice pack at the time of thaw, had been heard.
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
AUGUST 11, 2024
Our story so far : Stuck at home over the pandemic, it was a perfect time to revisit a pastime of my youth – buying cheap beater cars, and turning them into something fun and worthwhile. Only this time, I have a lifetime of experience with what does and doesn’t work well, along with a somewhat more generous budget. All of this got restarted about a decade ago; I was personalizing a 2013 flood salvage-title Rubicon ; it reminded me how much fun it was to do these little projects.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Nerd's Eye View
AUGUST 12, 2024
In the modern era of financial advice, the advicer/client relationship is tightly centered on trust. And because of that foundation of trust, in an ideal advisor/client relationship, mistakes, disagreements, and concerns are surfaced quickly; action items are agreed and acted upon by everyone involved; and everyone feels aligned and accountable to their overall objectives.
Advisor Perspectives
AUGUST 14, 2024
The Consumer Price Index for Urban Consumers (CPI-U) released for July puts the year-over-year inflation rate at 2.89%. The latest reading keeps inflation below the 3.74% average since the end of the Second World War for the 14th straight month. However, inflation remains above the 10-year moving average which is now at 2.83%.
The Big Picture
AUGUST 10, 2024
The weekend is here! Pour yourself a mug of coffee, grab a seat outside, and get ready for our longer-form weekend reads: • The End of Spam: Robocalls and texts… your days are numbered : The industry blasting your phone with spam calls and texts is about to implode. The feds could throw a wrench into the opaque, sometimes sketchy, and incredibly lucrative lead-generator industry. ( Sherwood ) • The Well-Off People Who Can’t Spend Money : Tightwads drag around a phantom limb of poverty, no
Abnormal Returns
AUGUST 14, 2024
Podcasts Barry Ritholtz talks with Meir Statman, author of “A Wealth of Well-Being: A Holistic Approach to Behavioral Finance.” (ritholtz.com) Carl Richards talks money mindfulness with Sharon Salzberg. (50fires.com) Steve Chen talks financial education with Tim Ranzetta, founder of Next Generation Personal Finance. (newretirement.com) Jess Bost and Mark Newfield talk with Dave Nadig about planning for big professional transitions.
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
AUGUST 13, 2024
Welcome everyone! Welcome to the 398th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Eric Wulff. Eric is the CEO of Marcum Wealth, an RIA based in Cleveland, Ohio, that oversees $2.5 billion in assets under management for approximately 2,700 client households. What's unique about Eric, though, is how he has built Marcum Wealth into a multi-billion-dollar firm under the umbrella of a national accounting firm, in large part by cultivating mutually beneficial rel
A Wealth of Common Sense
AUGUST 13, 2024
Do you know how long we’ve been in a recession for since the end of the Great Financial Crisis? Two months. In 15 years, the U.S. economy has been in a recession for just two months! That’s roughly 1% of the time, meaning that since July 2009, the United States has avoided a recession 99% of the time.
Calculated Risk
AUGUST 13, 2024
Fannie reported results for Q2 2024. Here is some information on single-family Real Estate Owned (REOs). Fannie Mae reported the number of REOs decreased to 7,179 at the end of Q2 2024, down 10% from 7,971 at the end of the previous quarter, and down 17% year-over-year from Q2 2023. For Fannie, this is down 96% from the 166,787 peak number of REOs in Q3 2010.
Abnormal Returns
AUGUST 15, 2024
Business Another example of advisors getting rich while their clients underperform to the tune of billions. (bloomberg.com) Pixar bounced back with 'Inside Out 2' but you shouldn't expect a return to the company's golden age. (readtrung.com) How the U.S. fell behind in the drone business. (noahpinion.blog) How the magazine business died. (honest-broker.com) Companies Nine takeaway from six months of the Apple ($AAPL) Vision Pro.
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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.
Discipline Funds
AUGUST 16, 2024
Here are three things I think I am thinking about this weekend: 1) Three Terrible Ideas That Won’t Die. The Great Financial Crisis was wonderful because it got people interested in economics. And it was terrible in that it convinced a lot of people that mainstream economics was wrong about almost everything. This led to a revival in some heterodox ideas that the mainstream had long thrown in the dustbin.
Wealth Management
AUGUST 14, 2024
According to the commission, Russell Todd Burkhalter, the CEO of Drive Planning, allegedly used new funds to pay existing investors’ returns and personal expenses, including yacht and private jet payments.
Calculated Risk
AUGUST 14, 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 4.6% YoY. Click on graph for larger image. This graph shows the YoY price change for Services and Services less rent of shelter through July 2024. Services were up 4.9% YoY as of July 2024, down from 5.0% YoY in June.
Abnormal Returns
AUGUST 15, 2024
Companies Brian Niccol has his hands full with turning around Starbucks ($SBUX). (barrons.com) Apple ($AAPL) stock was a much bigger bargain when Buffett first purchased shares. (bloomberg.com) Why Airbus has been unable to take full advantage of Boeing's ($BA) woes. (nytimes.com) Finance It seems the SEC will approve just about any ETF these days. (ft.com) What VC returns look like in the real world.
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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.
A Wealth of Common Sense
AUGUST 15, 2024
My colleague Alex Palumbo joined us on the show this week to discuss questions about how to deploy a big chunk of cash savings, how to diversify out of company stock, benchmarking financial performance and how to think about alpha when it comes to choosing a financial advisor. Further Reading: The Holy Grail of Portfolio Management 1The S&P 500 was up 9.8% per year while the 10 year Treasury gained 4.6% annually from.
Wealth Management
AUGUST 14, 2024
More than two dozen broker/dealers and RIAs agreed to pay a combined $392.75 million in penalties, including Raymond James, LPL, Edward Jones and Osaic, among others.
Calculated Risk
AUGUST 14, 2024
From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey Mortgage applications increased 16.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending August 9, 2024. The Market Composite Index, a measure of mortgage loan application volume, increased 16.8 percent on a seasonally adjusted basis from one week earlier.
Abnormal Returns
AUGUST 13, 2024
Venture capital There is nothing normal about the distribution of angel investment returns. (blogs.cfainstitute.org) How VCs drive media coverage of their portfolio companies. (papers.ssrn.com) Research How long can stocks underperform inflation? (ofdollarsanddata.com) Retail trading frenzies can have real world impacts. (papers.ssrn.com) How much protection do individual investors need?
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
Alpha Architect
AUGUST 16, 2024
To determine the impact of sustainable investment strategies on equity returns, Romulo Alves, Philipp Krueger, and Mathijs van Dijk analyzed the relationship between ESG ratings and global stock returns. They found very little evidence that ESG ratings were related to global stock returns over the two-decade period. The Effect of ESG Strategies on Global Equity Returns was originally published at Alpha Architect.
Wealth Management
AUGUST 16, 2024
Neil Gilfedder, the firm’s CIO, talks about how the RIA has incorporated its co-founder’s risk-adjusted investment analysis and how it stays transparent with clients.
Calculated Risk
AUGUST 13, 2024
Today, in the Calculated Risk Real Estate Newsletter: Part 1: Current State of the Housing Market; Overview for mid-August 2024 A brief excerpt: This 2-part overview for mid-August provides a snapshot of the current housing market. I always focus first on inventory, since inventory usually tells the tale ! Here is a graph of new listing from Realtor.com’s J uly 2024 Monthly Housing Market Trends Report showing new listings were up 3.6% year-over-year in June.
Abnormal Returns
AUGUST 12, 2024
Fidelity Fidelity has released two technology packages for small and mid-sized RIAs. (citywire.com) Hopes are high for the Fidelity/Advyzon service offering. (riabiz.com) Altruist Altruist is shifting more clients onto its own custodian platform. (riabiz.com) The latest in financial advisortech including a look at Altruist' new product offerings. (kitces.com) Advisers Why private equity is going after retail investors: fees, high fees.
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.
Steve Sanduski
AUGUST 14, 2024
Guest: Erin Scannell , Chief Executive Officer of Heritage Wealth Advisors. In a Nutshell: When I talked to Erin Scannell in 2020, he was directing 50 team members, 18 advisors, and about $2 billion in AUM. Four years later, Heritage has doubled to $4 billion in AUM, and Erin is in charge of over 80 team members, including 20 advisors and a robust support team.
Wealth Management
AUGUST 13, 2024
Kim Krueger of Krueger Financial Services said Commonwealth was “well-equipped” to support the firm’s business model, with the option to shift to a hybrid RIA approach later.
Calculated Risk
AUGUST 14, 2024
The BLS reported this morning: The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 2.9 percent over the last 12 months to an index level of 308.501 (1982-84=100). For the month, the index increased 0.1 percent prior to seasonal adjustment. CPI-W is the index that is used to calculate the Cost-Of-Living Adjustments (COLA).
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