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Financial advisory clients are routinely concerned about lurking threats to their hard-earned wealth in the form of a large unforeseen judgment on a liability claim. While asset protection is a popular planning topic for High-Net-Worth (HNW) and ultra-high-net-worth clients, those who are not HNW are susceptible to the same threats to wealth. However, while some protection options come with a high cost (that might not be practical for non-HNW clients), asset protection can come in many forms, so
The BEA released their estimate of vehicle sales for August today. This graph shows heavy truck sales since 1967 using data from the BEA. The dashed line is the August 2023 seasonally adjusted annual sales rate (SAAR). Heavy truck sales really collapsed during the great recession, falling to a low of 180 thousand SAAR in May 2009. Then heavy truck sales increased to a new record high of 570 thousand SAAR in April 2019.
In 2016, I wrote about the novelist and screenwriter William Goldman, and his delightful book, “ Adventures in the Screen Trade.” He is the Academy award-winning scriptwriter who penned such classics as “Butch Cassidy and the Sundance Kid” (1969), “All the President’s Men” (1976), “Marathon Man” (1974), and the cult-favorite “The Princess Bride (1973).
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?
Strategy It's hard to overstate the impact of the big tech stocks on the U.S. stock market of late. (theirrelevantinvestor.com) Big tech stocks have their own valuation experience. (wisdomtree.com) Big Tech has messed with factor investors. (advisorperspectives.com) Finance Blackstone ($BX) was early on the AI trend. (institutionalinvestor.com) Should you buy what Softbank is selling, i.e.
From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 2.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 1, 2023. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.9 percent on a seasonally adjusted basis from one week earlier.
From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 2.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 1, 2023. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.9 percent on a seasonally adjusted basis from one week earlier.
My 3-day weekend reads: • How Friday Became the New Saturday : A summer perk became a year-round staple. More white-collar employees are clearing the decks at the end of the week after pandemic upended in-office work. ‘Friday is just a dead day.’ ( Financial Times ) • All That Empty Office Space Belongs to Someone : If the nearly 100 million square feet of office real estate stays empty, who loses?
Strategy Gold is ultimately a bet on global chaos. (morningstar.com) What investors get wrong about the 'Yale Model.' (capitalallocators.com) How much should a fund manager hold in their own strategy? (awealthofcommonsense.com) Retailing Why retail workers are quitting in record numbers. (bloomberg.com) Which helps explain the sorry state of stores.
Today, in the Calculated Risk Real Estate Newsletter: Lawler: Single Family Rent Trends at AMH and Invitation Homes A brief excerpt: This article from housing economist Tom Lawler reviews some of the data included in my article last week Asking Rents Down 1.2% Year-over-year and adds some additional data from AMH and Invitation Homes. Below is a table showing single-family rent trends at AMH (formerly American Homes 4 Rent) and Invitation Homes, two large institutional investors in SF rental hom
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.
Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that the SEC this week issued a risk alert outlining how it selects firms to examine, the areas it focuses on during exams, and how it chooses which firm documents to request, details that could ultimately help firms be better prepared for their next exam and make it a shorter, less painful process!
Rates How an inverted yield curve affects stock and bond market returns. (mrzepczynski.blogspot.com) Utility stocks are battling higher fixed income yields. (wsj.com) High real yields are hurting the Federal budget deficit. (axios.com) Strategy Dollar-cost averaging makes downturns less painful. (awealthofcommonsense.com) On the mismatch between our investment horizons and our actual behavior.
From CoreLogic: CoreLogic: Home Equity Increases From Winter to Spring, Reducing Underwater Properties in Q2 CoreLogic®. today released the Homeowner Equity Report (HER) for the second quarter of 2023. The report shows that U.S. homeowners with mortgages (which account for roughly 63% of all properties) saw home equity decrease by 1.7% year over year, representing a collective loss of $287.6 billion, and an average loss of $8,300 per borrower since the second quarter of 2022.
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.
A recent McKinsey report surveying growth in the wealth management industry predicted that the struggles of small RIA firms would increase as larger firms continue to grow and overshadow the industry. again. Although the messaging that smaller RIAs must scale to survive has been offered many times before over the past few decades, many smaller lifestyle firms and solo RIA practices have thrived in their preference to stay small.
Books A Q&A with Alicia Kennedy author of "No Meat Required: The Cultural History & Culinary Future of Plant-Based Eating." (hazlitt.net) A Q&A with Todd Rogers, co-author of "Writing for Busy Readers: Communicate More Effectively in the Real World." (annieduke.substack.com) An excerpt from "The Cult of Creativity: A Surprisingly Recent History" by Samuel W.
Also, GMO’s Nebo passes $1B in platform assets a year after launching, Finology Software’s website is now live and Focus Financial Partners is UPTIQ’s newest client.
The Federal Reserve released the Q2 2023 Flow of Funds report today: Financial Accounts of the United States. The net worth of households and nonprofits rose to $154.3 trillion during the second quarter of 2023. The value of directly and indirectly held corporate equities increased $2.6 trillion and the value of real estate increased $2.5 trillion. Household debt increased 2.7 percent at an annual rate in the second quarter of 2023.
Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g
Welcome to the September 2023 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors! This month's edition kicks off with the news that WiserAdvisor, one of the longest-running lead generation services in the industry, has acquired IndyFin, a startup advisor rating platform that had aspired to be the 'Yelp for Advisors' – whi
Top clicks this week How (and where) to hold cash in your portfolio. (morningstar.com) Do you need commodities in your portfolio? (humbledollar.com) Why are mortgage rates so high? (awealthofcommonsense.com) Google ($GOOGL) has dominated seemingly forever. The cracks are showing. (theverge.com) The story of a portfolio manager holding onto Credit Suisse stock too long.
The DOL reported : In the week ending September 2, the advance figure for seasonally adjusted initial claims was 216,000 , a decrease of 13,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 228,000 to 229,000. The 4-week moving average was 229,250, a decrease of 8,500 from the previous week's revised average.
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.
Welcome back to the 349th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Olivia Luper. Olivia is the Founder of Lexicon Advisor Marketing, a virtual outsourced digital marketing company that specializes in working with financial advisors to generate a steady flow of prospects. What's unique about Olivia, though, is how she started out as a ghostwriter creating content for financial advisors and their blogs, but saw first-hand that great content alone doesn't ge
Rates Higher starting rates make bonds more attractive. (morningstar.com) How investors should think about their bond allocations. (awealthofcommonsense.com) Bonds aren't boring any more. (quietwealth.com) Equities Small value stocks are even cheaper than normal. (blog.validea.com) China's stock market is cheap, but is it investable? (wsj.com) Money management Wealth management is a growth business.
RIAs using the platform will be able to create white-label fund strategies including on private credit, equity, real estate, venture capital and infrastructure investments for high-net-worth and ultra-high-net-worth clients.
From BofA: Overall, the data flow since our last report pushed our 3Q US GDP tracking up four-tenths to 3.1% q/q saar and 2Q up two-tenths to 2.5%. Next week, August CPI, retail sales, PPI, import and export prices, industrial production and monthly budget statement will affect our GDP tracking [Sept 8th estimate] emphasis added From Goldman: July goods exports were stronger than our previous assumption, and we boosted our Q3 GDP tracking estimate by 0.2pp to +3.1% (qoq ar).
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.
This week, we speak with Jonathan Miller, founder and CEO of Miller Samuel , a real estate appraisal & consulting firm founded in 1986. His weekly Housing Notes is widely read among the real estate community of appraisers and agents. We discuss the state of both commercial and residential real estate across the country, the environment for mortgage rates, New York City housing, and his favorite penthouse apartments.
Podcasts Khe Hy talks building long term wealth with Adam Katz. (podcasts.apple.com) Eric Newcomer talks with Rey Flemings, the CEO of the YC-backed startup Myria which serves the ultra-wealthy. (newcomer.co) Morgan Housel talks about the lifecycle of greed and fear. (open.spotify.com) Justin Peters talks with Jesse Cramer about the importance of getting a raise, especially early in your career.
Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report from Sabrina Speianu and Danielle Hale: Weekly Housing Trends View — Data Week Ending Sep 2, 2023 • Active inventory declined, with for-sale homes lagging behind year ago levels by 5.2%. This past week marked the 11th consecutive decline in the number of homes actively for sale compared to the prior year, however the gap narrowed slightly compared to the previous week’s -5.9% figure.
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.
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