Million Dollar Round Table (MDRT)

OCTOBER 8, 2024

By Caroline A. Banks, FPFS Worldwide, we face a dreadful undercoverage of insurance. Too many financial advisors have become simply wealth managers, not realizing that insurance is the foundation of a financial plan. It’s crucial we make sure that this foundation is strong enough to support clients financially, no matter what happens. My own company received a critical illness payout when my husband, who was both the finance and IT director, was ill.

Financial Planning 85

Financial Planning Insurance Planning Wealth Management 85

The Big Picture

OCTOBER 7, 2024

@TBPInvictus here: If you’re not aware of the brouhaha that was stirred about a year or so ago when CA Gov Gavin Newsom signed into law (taking effect April 1, 2024) a new $20 minimum wage for so-called “limited service” (a/k/a fast food or QSR) restaurant workers, read up here , here , or here. In a nutshell, the usual suspects’ heads exploded well before the legislation even took effect, claiming it would lead to widespread devastation in the fast food space: job losses

Food 284

Food Media Economics Numbers 284

Abnormal Returns

OCTOBER 7, 2024

Podcasts Blair duQuesnay talks with George Kinder about his new book "The Three Domains of Freedom." (blairbellecurve.com) Daniel Crosby talks behavioral finance with Greg Davies, Head of Behavioral Finance at Oxford Risk. (standarddeviationspod.com) Frazer Rice talks with Megan Gorman quthor of "All the Presidents' Money: How the Men who Governed America Governed Their Money.

Compliance 261

Compliance Wealth Management Financial Advice Government 261

Nerd's Eye View

OCTOBER 8, 2024

Welcome everyone! Welcome to the 406th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Michael Kramer. Michael is the manager of Natural Investments, an RIA based in San Francisco, California that has offices across the country, overseeing $1.9 billion in assets under management for 1,300 client households. What's unique about Michael, though, is how his firm used the unique perpetual purpose trust structure to facilitate an internal succession plan, allowing th

Financial Advisor 229

Financial Advisor Clients Distribution Planning 229

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Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be

Accounting

A Wealth of Common Sense

OCTOBER 8, 2024

Each year the Bureau of Labor Statistics (BLS) updates consumer expenditure data on how Americans collectively spend and earn their money. These numbers are averages so your personal household budget probably looks different in some ways. Your circumstances — where you live, your standard of living, how much you make, family situation, etc. — often dictate how you spend.

Budgeting 139

Budgeting Numbers 139

Abnormal Returns

OCTOBER 10, 2024

Wealth Who died and paid the IRS a $7 billion estate tax bill? (sherwood.news) A profile of Denise Coates, founder of Bet365, and the richest woman in England. (theguardian.com) Global How Iceland became a hotbed for online scams. (nytimes.com) Checking in on the reconstruction of Notre Dame. (gq.com) Lebanon has a lot of geographical advantages. Why is the country so troubled?

Taxes 231

Taxes 231

Nerd's Eye View

OCTOBER 11, 2024

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that a CFP Board ad campaign promoting a career in financial planning to high school and college students sparked an uproar in the planning community, as some advisors questioned whether the messages being sent in the ads – in particular, certain static ads that did not provide as much context into the messaging as a series of 15-second video ads – realistically rep

Financial Planner 197

Financial Planner CFP Financial Planning Retirement Planning 197

Calculated Risk

OCTOBER 9, 2024

From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 5.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending October 4, 2024. The Market Composite Index, a measure of mortgage loan application volume, decreased 5.1 percent on a seasonally adjusted basis from one week earlier.

Government 127

Government Economics Marketing Marketing 127

The Big Picture

OCTOBER 11, 2024

Live from FutureProof in Huntington Beach, California, Barry Ritholtz speaks with Joe Lonsdale of 8VC. Previously, he co-founded Palantir Technologies , founded Adapar , a wealth management platform, and Opto , a private market investment platform. In this episode, Lonsdale discusses the importance of technology in various sectors, the need for innovation in defense, and the potential of AI to transform the services industry.

Wealth Management 157

Wealth Management Government Management Investing 157

Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

Sales

Abnormal Returns

OCTOBER 11, 2024

Listening Google's NotebookLM is a game-changer. (wsj.com) How 'Smartless' became a big and growing business. (nytimes.com) Venture capital Patrick O'Shaughnessy talks with Kareem Zaki who is a General Partner at Thrive Capital. (joincolossus.com) Barry Ritholtz talks with Joe Lonsdale of 8VC. (bloomberg.com) Rick Buhrman and Paul Busser talk with Ravi Gupta who is a partner at Sequoia Capital.

Math 220

Math Portfolio Management Management Portfolio 220

Nerd's Eye View

OCTOBER 9, 2024

Gifting is a common planning topic discussed between advisors and clients – often raising questions about which gifts are taxable, need to be reported to the IRS, or may be exempt from reporting altogether. The rules around gifting are nuanced and can create confusion for clients, but advisors with a clear understanding of gifting strategies can guide them toward informed decisions.

Taxes 172

Taxes Medical Clients Education 172

Calculated Risk

OCTOBER 10, 2024

The DOL reported : In the week ending October 5, the advance figure for seasonally adjusted initial claims was 258,000 , an increase of 33,000 from the previous week's unrevised level of 225,000. This is the highest level for initial claims since August 5, 2023 when it was 258,000. The 4-week moving average was 231,000, an increase of 6,750 from the previous week's unrevised average of 224,250. emphasis added The following graph shows the 4-week moving average of weekly claims since 1971.

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The Big Picture

OCTOBER 5, 2024

The weekend is here! Pour yourself a mug of Colombia Tolima Los Brasiles Peaberry Organic coffee, grab a seat outside, and get ready for our longer-form weekend reads: • After Shark Tank, Mark Cuban Just Wants to Break S**t—Especially the Prescription Drug Industry : The billionaire is done with his hit TV show, but he’s still invested in fighting pharma’s middlemen, being a dad, and needling Elon Musk. ( Wired ) • Is the World Really Running Out of Sand?

Nonprofit 157

Nonprofit Healthcare Engineering Investing 157

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

Numbers

Abnormal Returns

OCTOBER 6, 2024

Strategy If diversification is good, why not diversify globally? (humbledollar.com) Don't make your investing more complicated than it needs to be. (flyoverstocks.com) Investing doesn't need to be flashy to succeed. (jridley.substack.com) Buffered ETFs Buffered ETFs are popular, but they are complicated and come with real tradeoffs. (wsj.com) The pros and cons of buffered ETFs.

Financial Advising 242

Financial Advising Economy Food Insurance 242

Nerd's Eye View

OCTOBER 7, 2024

Welcome to the October 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 digital estate planning platform Wealth.com has raised a whopping $30 million in Series A funding, following on the heels of Vanilla's follow-on $20M capital round just a few months ago – which

Clients 144

Clients B2B Estate Planning Planning 144

Calculated Risk

OCTOBER 10, 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 4.4% YoY. Click on graph for larger image. This graph shows the YoY price change for Services and Services less rent of shelter through September 2024. Services were up 4.7% YoY as of September 2024, down from 4.8% YoY in August.

Food 118

Food 118

The Big Picture

OCTOBER 7, 2024

My back from vacay morning reads: • Pandemic Start-Ups Are Thriving, and Helping to Fuel the Economy : A record surge in new businesses has helped drive job growth, and could have longer-term benefits. ( New York Times ) • Fidelity: Twitter is worth 80% less than 2 years ago when Elon Musk bought it. That’s according to estimates from investment giant Fidelity: As of the end of August, the firm is worth just $8 billion, according to a Sunday filing by Fidelity’s Blue Chip Growth Fund.

Electronics 144

Electronics Recruitment License Healthcare 144

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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.

Banking

Abnormal Returns

OCTOBER 11, 2024

Finance JP Morgan Chase ($JPM) says the consumer is in good shape. (sherwood.news) One company's loss is another's gain. (ft.com) Biotech IPOs keep happening. (biopharmadive.com) Fund management A closer look at the proposed SPDR SSGA Apollo IG Public & Private Credit ETF. (citywire.com) Blackrock ($BLK) now manages some $11.5 trillion. (s24.q4cdn.com) AI How Flexport is using AI.

Math 210

Math Financial Advising Media Economy 210

A Wealth of Common Sense

OCTOBER 10, 2024

Nick Maggiulli joined me on the show this week to tackle questions about investing in total stock market index funds, how to value your pension, factors that allow you to take more risk in your portfolio and when to sell your big winners. Further Reading: An Epic Bull Market 1It’s worth noting these are price returns only, no dividends included.

Marketing 123

Marketing Marketing Portfolio Investments 123

Calculated Risk

OCTOBER 11, 2024

From BofA: Since our last weekly publication, our 3Q GDP tracking estimate is unchanged at 2.6% q/q saar. [Oct 11th estimate] emphasis added From Goldman: We left our Q3 GDP tracking estimate unchanged at +3.2% (quarter-over-quarter annualized) and our Q3 domestic final sales forecast unchanged at +2.8%. [Oct 8th estimate] And from the Atlanta Fed: GDPNow The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2024 is 3.2 percent on October 9, unch

Sales 113

Sales Investing Investments 113

Wealth Management

OCTOBER 10, 2024

Gen X, millennials and Gen Z are set to inherit $84 trillion in assets—they have different priorities that aren’t reflected in wealth management brands today.

Wealth Management 119

Wealth Management Management Assets 119

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.

Financial Advice

Abnormal Returns

OCTOBER 9, 2024

Podcasts Thomas Kopelman and Jacob Turner talk what you should look for in auto insurance. (podcasts.apple.com) Peter Lazaroff on what to consider when doing a Roth IRA conversion. (peterlazaroff.com) Khe Hy talks with Diana Merriam about the downsides of FIRE. (youtube.com) Health insurance Health insurance costs are only going up. (wsj.com) Even when you have health insurance your work isn't done.

Estate Planning 223

Estate Planning Insurance Retirement Financial Planning 223

Advisor Perspectives

OCTOBER 11, 2024

Wholesale inflation was unchanged last month, compared to expectations of a 0.1% increase. The producer price index for final demand was flat month-over-month (s.a.). On an annual basis, headline PPI decelerated from 1.9% in August to 1.8% in September.

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Calculated Risk

OCTOBER 10, 2024

With the release of the CPI report this morning, we now know the Cost of Living Adjustment (COLA), and the contribution base for 2025. From Social Security: Social Security Announces 2.5 Percent Benefit Increase for 2025 Social Security benefits and Supplemental Security Income (SSI) payments for more than 72.5 million Americans will increase 2.5 percent in 2025 , the Social Security Administration announced today.

Retirement 112

Retirement Taxes 112

Wealth Management

OCTOBER 8, 2024

S&P Dow Jones’ updated methodology for some of its indices has impacted $300 billion in ETFs, reports Financial Times. Mergers & Acquisitions looks at whether evergreen funds can scale up, given their promise of greater liquidity for investors. These are among this week’s investment must reads for wealth advisors.

Wealth Advisor 113

Wealth Advisor Investing Investments 113

Speaker: Carolina Aponte - Owner and CEO, Caja Holdings LLC

In today's rapidly changing business environment, building a resilient balance sheet is crucial to the survival of any business. A resilient balance sheet allows a company to withstand financial shocks and adapt to changing market conditions. To achieve this, companies need to focus on key strategies such as maintaining adequate liquidity, managing debt levels, diversifying revenue streams, and prioritizing profitability over growth.

Financial Planning

Abnormal Returns

OCTOBER 8, 2024

Markets Q3 earnings estimates are muted. (sherwood.news) The yield curve is coming to terms with a new Fed regime. (mrzepczynski.blogspot.com) Strategy Two questions you should ask about any piece of market information. (behaviouralinvestment.com) For taxable investors a preference for dividends doesn't make a lot of sense. (rethinking65.com) Why trading successfully is difficult.

Electronics 227

Electronics Financial Advising Media Marketing 227

Trade Brains

OCTOBER 11, 2024

The Indian paint industry is rapidly growing, driven by rising urbanization and increased disposable incomes. Stiff competition among key players has made the market highly dynamic. Asian Paints, the industry leader, continues to dominate with its strong brand presence and extensive distribution network. Kansai Nerolac and Berger Paints also hold significant market shares, offering various decorative and industrial paints.

Distribution 98

Distribution Consulting Accounting Commission 98

Calculated Risk

OCTOBER 11, 2024

Today, in the Calculated Risk Real Estate Newsletter: Part 1: Current State of the Housing Market; Overview for mid-October 2024 A brief excerpt: This 2-part overview for mid-October provides a snapshot of the current housing market. I always focus first on inventory, since inventory usually tells the tale ! And currently inventory is increasing year-over-year but is still well below pre-pandemic levels.

Marketing 109

Marketing Marketing 109