Nerd's Eye View

OCTOBER 11, 2023

In 2004, the SEC significantly strengthened the compliance responsibilities of investment advisers when Rule 206(4)-7 (also known as the "Compliance Rule") went into effect, requiring them to adopt and implement written compliance policies and procedures, review such policies and procedures annually, and designate a Chief Compliance Office to administer such policies and procedures.

Compliance 221

Compliance Financial Planning Planning Investments 221

The Big Picture

OCTOBER 12, 2023

In August of 2022, I explained how Amazon became ordinary. Today I want to discuss how they have become bad. Since I first discussed the companies that lost my affection during the pandemic nearly two years ago, Amazon continues to stand out as delivering an ever-worsening set of experiences. I wanted to wait until after the (faux retail holiday) Prime Day(s) ended before sharing a few tales of further (to use Cory Doctorow’s phrase) “ Enshittification.” There are many problem

Advertising 334

Advertising Retail Accounting 334

Abnormal Returns

OCTOBER 9, 2023

Podcasts Dan Haylett talks with George Kinder on the true impact of Life Planning on retirement. (humansvsretirement.com) Daniel Crosby talks financial wellness and therapy with Amanda Clayman. (standarddeviationspod.com) Brendan Frazier talks about why advisers should shift from "advice giver" to "thinking partner." (wiredplanning.com) Michael Kitces talks with Brett Danko who is the Founder of Brett Danko Educational Center, and the CEO and Managing Partner for Main Street Financial Solutions.

CFP 299

CFP Education Financial Planning Planning 299

The Reformed Broker

OCTOBER 8, 2023

My partner Barry Ritholtz speaks to Michael Lewis, whose latest book is “Going Infinite: The Rise and Fall of a New Tycoon,” on FTX founder Sam Bankman-Fried. Lewis has been the subject of a massive uproar on social media for the way his book portrays SBF and the way he’s spoken about his subject during the promotion tour, specifically on ’60 Minutes’ last Sunday.

Media 177

Media Marketing Marketing 177

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

Nerd's Eye View

OCTOBER 13, 2023

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with a new study from Herbers & Company that provides insight into the financial planning services that consumers demand the most, and which services financial advisory firms offer the most often. The study also identified factors that separated firms experiencing the greatest organic growth from others, which include offering a comprehensive suite of services, having a higher 'close' ra

Financial Planner 232

Financial Planner Financial Planning Client Management Clients 232

Abnormal Returns

OCTOBER 8, 2023

Markets Good luck getting a good handle on this stock market. (theirrelevantinvestor.com) Under what conditions is the stock market more likely to crash. (morningstar.com) Rates The increase in bond yields is as impressive as the actual rise in rates. (econbrowser.com) Why higher interest rates aren't have a bigger effect on the economy. (tker.co) Why are mortgage rates are as high as they are.

Financial Advising 297

Financial Advising Economy Media Government 297

The Reformed Broker

OCTOBER 13, 2023

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Jan Van Eck, and Andrew Beer discuss the bond market, the national debt, private-credit, alts, managed futures, the Sam Bankman-Fried trial, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods! Listen here: Apple podcasts Spotify podcasts Google podcasts Everywhere else.

Management 152

Management Marketing Marketing 152

Nerd's Eye View

OCTOBER 9, 2023

When deciding on a marketing strategy to pursue, one of the key factors for financial advisory firms to consider is efficiency. Different strategies have different Client Acquisition Costs (CACs), in terms of both hard-dollar marketing expenses and the cost of the advisor's time spent on the strategy, and an efficient market strategy is one that can effectively attract new clients while minimizing the amount spent to acquire them.

Engineering 213

Engineering Financial Advisor Management Clients 213

The Big Picture

OCTOBER 9, 2023

There is a thought-provoking discussion on short selling over at Russell Clark ; check it out (including audio) to get an overview of his perspective. I don’t really disagree with any of it but I do (did) see the world of short-selling from a different seat. Allow me to share a few thoughts about shorting as a trading strategy; I include specifics at the end.

Banking 331

Banking Media Clients Marketing 331

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

OCTOBER 8, 2023

Top clicks this week The stock market is coming to terms with higher interest rates (for longer). (awealthofcommonsense.com) Why simplicity in investing can help reduce errors. (mrzepczynski.blogspot.com) Why some people like to research and hold individual stocks instead of funds. (investmenttalk.co) How major asset classes performed in September 2023.

Numbers 290

Numbers Assets Investments Investing 290

The Reformed Broker

OCTOBER 10, 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: ►Have Treasury Bonds Bottomed? – The crash in long-dated Treasurys since the pandemic now ranks as one of the most destructive financial crashes ever.

Investing 152

Investing Investments Marketing Marketing 152

Nerd's Eye View

OCTOBER 10, 2023

Welcome everyone! Welcome to the 354th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Grier Rubeling. Grier is the founder of Advisor Transition Services, a consulting firm based in Cary, North Carolina, that helps advisors switch from one broker-dealer or custodian platform to another, often when breaking away from a larger firm to start up their own.

Financial Advisor 203

Financial Advisor Clients Communication Consulting 203

The Big Picture

OCTOBER 13, 2023

My buddy Jonathan Miller does not hesitate to call out the weasels who represent those who work in his industry: NAR Proves That Trade Groups Aren’t Infallible With an appalling culture of secrecy maintained by wildly overpaid executives (I believe their CEO is paid close to $3 million per year), NAR seems to be imploding right now. These three prominent real estate firms are backing away from the management cesspool that has severely damaged the National Association of Realtors (NAR) brand.

Numbers 298

Numbers Sales Management Marketing 298

Advertisement

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.

Accounting

Abnormal Returns

OCTOBER 9, 2023

Strategy The key to successful investing is patience. (blog.validea.com) Five common mistakes investors make. (blogs.cfainstitute.org) When aiming down the middle makes sense. (humbledollar.com) Finance Private credit is the new bank. (wsj.com) How the Intercontinental Exchange ($ICE) became a big player in the mortgage business. (wsj.com) CRE Even Texas's office buildings are seeing high vacancy rates.

Financial Advising 287

Financial Advising Media Economics Banking 287

The Reformed Broker

OCTOBER 10, 2023

If you want to understand what’s happening in the US stock market these days, you need to understand what’s happening with the largest companies that make up such a heavy part of the index weighting. And to do that, you have to understand Big Tech. Which is where my friend Alex Kantrowitz comes in. He’s one of the foremost authorities on everything going on in the space.

Marketing 152

Marketing Marketing 152

Carson Wealth

OCTOBER 9, 2023

Stocks had a solid late-week reversal higher, even as many worries and concerns piled up. From the U.S. House not having a speaker for the first time ever, to yields soaring, to deficits and spending, the list of worries was high. But there’s an old saying that the market tends to rally on a wall of worry. As we noted in early August, there was a little too much optimism as long-term bears turned bullish, opening the door for seasonal third-quarter weakness.

Marketing 134

Marketing Marketing Economy Government 134

The Big Picture

OCTOBER 11, 2023

Exciting news! I am heading to Charlotte next month, and I will be bringing a full complement of the crew with me! We will be meeting with clients and hanging with the team from our Charlotte offices. We are also meeting prospective clients and interviewing a few new folks for the firm. You can join me, Josh Brown, Michael Batnick and Blair duQuesnay and several of our financial advisors, including Managing Partner Kris Venne, and Ritholtz Wealth’s President, Jay Tini.

Financial Advisor 147

Financial Advisor Financial Planning Clients Management 147

Advertisement

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 12, 2023

Markets Retail investors love T-bills. (economist.com) You can't attribute changes in yields to any single factor. (economist.com) Finance VC activity is at multi-year lows. (venturebeat.com) Europe has an IPO problem. (ft.com) Facial recognition Like it or not, face search engines are coming. (npr.org) Five insights from "Your Face Belongs to Us: A Secretive Startup’s Quest to End Privacy as We Know It" by Kashmir Hill.

Financial Advising 278

Financial Advising Engineering Retail Media 278

The Reformed Broker

OCTOBER 9, 2023

This summer we opened a physical office location in North Carolina. It’s staffed with three of our Certified Financial Planners in Charlotte who’ve been taking care of our clients in the area. To celebrate, I’m bringing twenty of my people down for a week of client meetings and to see our local friends and colleagues. We’ve kept some time on the schedule to meet with prospective clients too.

Certified Financial Planner 152

Certified Financial Planner Financial Planner Clients 152

A Wealth of Common Sense

OCTOBER 13, 2023

In 1950 long-term U.S. government bonds yielded a little more than 2%. By the end of that decade they would hit 4.5%. Yields jumped to 6.9% by the end of the 1960s and 10.1% by the end of the inflationary 1970s. Then they skyrocketed in the early-1980s, going from just over 10% at the end of 1979 to nearly 15% by the fall of 1981. In a little over 30 years, bond yields went from 2% to 15%.

Marketing 128

Marketing Marketing Government 128

The Big Picture

OCTOBER 9, 2023

My back-to-work morning train WFH reads: • ‘A Galactic Embarrassment’: The Crypto World Is Already Sick of SBF’s Trial : FTX founder Sam Bankman-Fried’s trial for fraud is sucking all the air out of the room. Crypto folks can’t wait for it to be over. ( Wired ) • Why don’t you just sell all your stocks and buy ETFs, you’ll probably have better performance?

Medicine 147

Medicine Advertising Medical Investments 147

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 13, 2023

Companies What now for Microsoft ($MSFT) after closing the Activision Blizzard deal? (theringer.com) The customer experience at Amazon ($AMZN) is getting worse. (ritholtz.com) Is Apple ($AAPL) making it too hard to do stuff on the Mac? (macworld.com) Sports gambling Disney ($DIS) wanted no part of sports gambling, now its all in. (wsj.com) Sports books are embracing novelty bets.

Financial Advising 277

Financial Advising Media Management Investing 277

The Reformed Broker

OCTOBER 8, 2023

And if you haven’t subscribed yet, don’t wait. Check it out below or wherever fine podcasts are played. These are the most read posts on the site this week, in case you missed it: . The post This Week on TRB appeared first on The Reformed Broker.

152

152

Alpha Architect

OCTOBER 13, 2023

This article examines four digital filters commonly used for trend-following: moving average linear weighted moving average exponential smoothing time series momentum Trend-Following Filters – Part 7 was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.

123

123

The Big Picture

OCTOBER 7, 2023

The weekend is here! Pour yourself a mug of coffee, grab a seat outside, and get ready for our longer-form weekend reads: • In Ukraine, explosive DIY drones give an intimate view of killing : First-person view, or FPV, drones — fast, highly-maneuverable, and relatively cheap craft flown by an operator wearing a headset receiving the drone’s video feed in real time — are now the predominant attack drone in Ukraine.

Engineering 147

Engineering Management 147

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 11, 2023

Podcasts Peter Lazaroff talks with Susan Jones of Plancorp about year-end planning opportunities. (peterlazaroff.com) Christine Benz and Jeff Ptak talk with Prof. Anita Mukherje about the challenges of decumulation. (morningstar.com) Earlier on Abnormal Returns Dying with zero: the life of Charles Feeney. (abnormalreturns.com) Sub-3% mortgage rates are now a distant memory.

Estate Planning 275

Estate Planning Taxes Retirement Planning 275

Calculated Risk

OCTOBER 10, 2023

Today, in the Calculated Risk Real Estate Newsletter: Part 2: Current State of the Housing Market; Overview for mid-October A brief excerpt: Yesterday, in Part 1: Current State of the Housing Market; Overview for mid-October I reviewed home inventory and sales. Most measures of house prices have shown an increase in prices over the last several months, and a key question I discussed in July is Will house prices decline further later this year?

Marketing 119

Marketing Marketing Sales 119

Discipline Funds

OCTOBER 12, 2023

Here’s a Tweet (do we still call them Tweets?) from Paul Krugman which is getting a lot of flak. As I noted last month, he’s mostly right, but just explaining this in a bad way. After all, if you strip out most of the things people need in everyday life then yes, inflation is low. Heck, if we just stripped out everything from the index then inflation is 0%.

Economy 118

Economy Distribution 118