Wealth Management
JUNE 23, 2025
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Abnormal Returns
JUNE 25, 2025
Podcasts Peter Mallouk and Charlie Bilello talk with Jonathan Clements about some big lessons. (podcasts.apple.com) Luca Dellanna and Ismail Manik talk with Barry Ritholtz about his book "How NOT to Invest." (patternsandstories.substack.com) Joe Weisenthal and Tracy Alloway talk with Morgan Stanley housing strategist Jim Egan, about the big housing divide.
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Calculated Risk
JUNE 18, 2025
Statement here. Fed Chair Powell press conference video here or on YouTube here , starting at 2:30 PM ET. Here are the projections. The projections are pretty bearish. The BEA's advance estimate for Q1 GDP showed real growth at -0.2% annualized. There is a wide range of estimates for Q2 GDP, but it is forecast to be over 3.0% (as Q1 distortions reverse).
Nerd's Eye View
JUNE 18, 2025
In recent years, financial advisors have increasingly embraced tax planning as a core element of delivering value to clients. This shift reflects the reality that taxes permeate virtually every financial decision clients make – whether related to investing, retirement, business structure, or charitable giving – and often represent one of the largest expenses faced by clients over their lifetime.
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Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i
The Big Picture
JUNE 24, 2025
Today, I am participating in a few events at Bloomberg’s Hedge Fund Forum 2025. I will be moderating the Emerging Managers Panel: Hear from new and emerging fund leaders on the opportunities and obstacles of launching and growing a differentiated investment strategy in today’s competitive alternatives landscape, including how they are leveraging AI to enhance investment processes, streamline operations, and navigate the early stages of building a fund.
Wealth Management
JUNE 23, 2025
The Financial Services Institute challenges New Jersey's proposed independent contractor rule, warning of potential impacts on financial advisors and their clients.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Abnormal Returns
JUNE 18, 2025
Podcasts Chris Hutchins talks with Nick Maggiulli about his forthcoming book "The Wealth Ladder: Proven Strategies for Every Step of Your Financial Life." (chrishutchins.com) Jill Schlesinger talks with Barry Ritholtz about his new book "How Not To Invest: The ideas, numbers, and behaviors that destroy wealth - and how to avoid them." (ritholtz.com) Peter Lazaroff talks with Bob Pisani about lessons learned from his long career at CNBC.
Nerd's Eye View
JUNE 24, 2025
Welcome everyone! Welcome to the 443rd episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Griffin Kirsch. Griffin is the owner of GK Wealth Management, an RIA based in Reno, Nevada, that oversees $200 million in assets under management for 450 client households. What's unique about Griffin, though, is how he has grown his AUM to $200 million in five years (with a 70% margin in terms of earnings before owner compensation) by providing high-touch planning for busines
The Big Picture
JUNE 18, 2025
Fun conversation with Jill Schlesinger of Jill on Money about the new book: Today we’re joined by Barry Ritholtz, co-founder, chairman, and chief investment officer of Ritholtz Wealth Management LLC, to discuss his recently released book, How Not To Invest: The ideas, numbers, and behaviors that destroy wealth – and how to avoid them. The goal of the book is to show you a few simple tools and models that will help you avoid the most common mistakes people make with their money.
Wealth Management
JUNE 20, 2025
F2 Strategy co-founder Doug Fritz offers a mini-masterclass on how the best advisory businesses utilize technology to create efficiencies and deliver a better client experience.
Speaker: Victor C. Barnes, CPA, MBA
In the climb from contributor to leader, the rules quietly change. If you’re aiming for the summit, the air gets thinner—and what got you here won’t be enough to get you to the top (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level.
Calculated Risk
JUNE 18, 2025
Today, in the Calculated Risk Real Estate Newsletter: Housing Starts Decreased to 1.256 million Annual Rate in May A brief excerpt: Total housing starts in May were below expectations; however, starts in March and April were revised up, combined. The third graph shows the month-to-month comparison for total starts between 2024 (blue) and 2025 (red).
Abnormal Returns
JUNE 24, 2025
AI Why you have to be careful when using LLMs for research. (larryswedroe.substack.com) There are already plenty of ways analysts can use AI productively. (blogs.cfainstitute.org) Alternatives Rothacher and Breitenmoser, "There is no universally accepted way of modelling different alternative asset classes." (caia.org) Alternative investments have a high hurdle to clear.
Nerd's Eye View
JUNE 23, 2025
Advisors have a relatively brief window of time to communicate their value to prospective clients. Many prospects ask friends and professionals for recommendations, browse a few firm websites, and typically interview only one or two advisors before deciding whom to hire. This means advisors must communicate both their services and values within a very limited – and not always synchronous – span of time.
Getting Your Financial Ducks In A Row
JUNE 23, 2025
Photo credit: jb When you have money in several accounts and you’d like to have that money consolidated in one place, the question comes up – Which type of account can be tax-free rolled over into which other type of accounts? Thankfully, the IRS has provided a simple matrix to help with this question. At this link you’ll find the matrix , sourced from IRS Publication 590.
Speaker: Kim Beynon, CPA, CGMA, PMP
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
Wealth Management
JUNE 18, 2025
Global financial advisors prioritize private equity and credit in alternative investments, but struggle with assessing liquidity and portfolio impact, survey finds.
Calculated Risk
JUNE 23, 2025
From Matthew Graham at Mortgage News Daily: Mortgage Rates Lowest Since May 1st Mortgage rates ended the previous week roughly in line with the best levels since May 1st. Today's modest improvement made it official. Mortgage rates are primarily a function of trading levels in the bond market and bonds have had a few reasons to move at the start of the new week.
Abnormal Returns
JUNE 23, 2025
Strategy How geopolitical conflicts have played out for stocks. (optimisticallie.com) Just how volatile have the 2020s been for the stock market? (awealthofcommonsense.com) Don't mix politics and investing. (klementoninvesting.substack.com) Crypto Add ProCap Financial to the Bitcoin Treasury scene. (cnbc.com) If every major company issues their own stablecoin, chaos could ensue.
Nerd's Eye View
JUNE 25, 2025
Many financial advisory clients might work for 40 years or more, ideally seeing their income – and capacity to save for retirement – increase over time as they advance in their careers. While many retire in their 60s (or even later), others with sufficient savings and/or guaranteed income sources might seek an earlier retirement, perhaps in their 50s.
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Where are top advisors focusing in 2025? AcquireUp’s 2025 Industry Index reveals it all. Based on insights from 200+ financial professionals nationwide, discover why 74% say seminars and referrals deliver the best ROI, how automation is helping advisors scale faster, and why only 8% are tapping into niche marketing (a major growth opportunity!). Whether you're refining your client acquisition strategy or scaling your practice, this report gives you the real-world data, benchmarks, and action ste
The Big Picture
JUNE 20, 2025
My end-of-week morning train beach reads: • Howard Marks on Tariffs: Repealing the Laws of Economics : Tariffs are, primarily, an effort to cause goods to be made domestically even when equivalent foreign goods are cheaper or better (or both). Governments can make that happen by erecting barriers that keep foreign goods out or make them more expensive.
Wealth Management
JUNE 23, 2025
Wall Street's new favorite investors, young and wealthy, are skeptical of traditional markets and increasingly turning to alternative assets for wealth generation.
Calculated Risk
JUNE 21, 2025
The key reports this week are May New and Existing Home sales, the third estimate of Q1 GDP, Personal Income and Outlays for May and the April Case-Shiller house price index. For manufacturing, the June Richmond and Kansas City Fed manufacturing surveys will be released. Fed Chair Powell testifies on the Semiannual Monetary Policy Report to Congress. -- Monday, June 23rd -- 10:00 AM: Existing Home Sales for May from the National Association of Realtors (NAR).
Abnormal Returns
JUNE 25, 2025
Rates Muni bonds are underperforming in 2025. (morningstar.com) T-bills are growing a percentage of outstanding U.S. government debt. (wsj.com) Crypto Recent SPAC deals have a decided crypto flavor. (bloomberg.com) Please don't use those Bitcoin ATMs, scams abound. (axios.com) Retail trading Supply is coming online to feed the degenerate economy. (howardlindzon.com) Demand for private shares is there.
Speaker: Claire Grosjean, Global Finance & Operations Executive
Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.
A Wealth of Common Sense
JUNE 22, 2025
There were 22 trading days in March of 2020. Just one day out of those 22 saw a move of less than plus or minus 1%. Every other day saw a large move including 8 days of down 3% or worse and 8 days of up 3% or better. These were the daily returns during that fateful month: It felt like a year’s worth of volatility in a single month.1 It was one of the most volatile months in stock market history, right up there with.
Trade Brains
JUNE 20, 2025
When seasoned investors put their money into a company, it often sparks curiosity—and for good reason. Consistent revenue growth over time is one of the clearest indicators of a company’s underlying strength. In this article, we have highlighted a few stocks backed by ace investors that have delivered an impressive 5-year revenue Compounded Annual Growth Rate (CAGR).
Wealth Management
JUNE 18, 2025
Andy Kalbaugh will lead The Wealth Consulting Group into its next phase of growth, which will include a new partners channel to help advisors with succession issues.
Calculated Risk
JUNE 18, 2025
Fed Chair Powell press conference video here or on YouTube here , starting at 2:30 PM ET. FOMC Statement: Although swings in net exports have affected the data, recent indicators suggest that economic activity has continued to expand at a solid pace. The unemployment rate remains low, and labor market conditions remain solid. Inflation remains somewhat elevated.
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
JUNE 18, 2025
Markets The stock market doesn't care about you. (tonyisola.com) How long do dollar moves last? (larryswedroe.substack.com) Real estate REITs have struggled to keep up with the stock market. (morningstar.com) The supply of office space is set to actually contract in 2025. (wsj.com) Gold Why are central banks upping their holdings of gold? (mrzepczynski.blogspot.com) Individual Chinese investors love gold.
A Wealth of Common Sense
JUNE 19, 2025
A reader asks: I was reading your post “3% Market Returns For The Next Decade” and it got me thinking about something you wrote about a few years ago — the John Bogle Expected Return Formula. I don’t remember how you were able to get the numbers to calculate the formula, but I’d love to see an update about what the formula says today.
Trade Brains
JUNE 20, 2025
A prominent financial services stock came under pressure on June 20, slipping nearly 9% amid heightened activity in the block deal window, triggering investor concerns over a potential large-scale stake offloading. With a market capitalisation of Rs 3,330 crore, shares of Northern Arc Capital Limited plunged nearly 9% on Friday, hitting an intraday low of Rs 195.55 compared to the previous close of Rs 214.50, amid heavy selling pressure in the block deal window.
Wealth Management
JUNE 24, 2025
Phoenix-based Patrick Funke & Associates joins Commonwealth Financial Network, citing relationship focus as key factor amid pending LPL acquisition.
Speaker: Cheryl J. Muldrew-McMurtry
Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.
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