The Big Picture

APRIL 28, 2024

In the northeast, Spring has fully sprung. Temps are expected to kiss 80 today, and after a mild winter, we have been enjoying abundant sunshine. The daffodils and tulips are up, the magnolias are blooming, and the pear and cherry trees are explosions of colors! All of that blue sky beckons us to hop in a roadster to enjoy the open road. My first high HP car was a BMW convertible, but the open-top car that set the standard was the 507.

Engineering 258

Engineering Sales Planning Marketing 258

Abnormal Returns

APRIL 28, 2024

Top clicks this week You likely don't need a long-term bond fund. (wsj.com) Allan Sloan, "Don’t fall in love with your money fund." (barrons.com) Good luck trying to dial risk up and down at the right times. (collabfund.com) At what age do we say people are 'old'? (scienceblog.com) What are to make of the big, and persistent, valuation disparities between large and small caps.

Valuation 216

Valuation Taxes Marketing Marketing 216

Nerd's Eye View

APRIL 26, 2024

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the Department of Labor released the final version of its Retirement Security Rule (a.k.a. the Fiduciary Rule 2.0), which is set to go into effect in September and (if it survives anticipated legal challenges) would represent a significant shift toward greater fiduciary standards in the financial services industry, including by defining as a fiduciary act a one-time recomm

Financial Planner 194

Financial Planner Commission Financial Advisor Communication 194

A Wealth of Common Sense

APRIL 23, 2024

There was a recent poll about my home state of Michigan where they asked people for their thoughts on the state of the nation’s economy today. Just 35% of people described the economy as excellent (6%) or good (29%) while 65% described it as either not so good (28%) or poor (37%). But when asked how they would describe their own personal financial situation these days, a majority of people (61%) described their circ.

Economy 142

Economy 142

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

Accounting

Calculated Risk

APRIL 26, 2024

The BEA released the Personal Income and Outlays report for March: Personal income increased $122.0 billion (0.5 percent at a monthly rate) in March , according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI), personal income less personal current taxes, increased $104.0 billion (0.5 percent) and personal consumption expenditures (PCE) increased $160.9 billion (0.8 percent).

Food 125

Food Taxes Economics 125

Abnormal Returns

APRIL 24, 2024

Banking The number of bank branches in the U.S. peaked in 2012. (sherwood.news) Where SVB's business stands as JP Morgan ($JPM) looks to make inroads. (bloomberg.com) ETFs Where active ETFs are growing fastest. (morningstar.com) The iShares Bitcoin ETF ($IBIT) is a runaway hit. (theblock.co) Retail investors trade leveraged ETFs way too much. (klementoninvesting.substack.com) TikTok The clock is now ticking for a TikTok divestiture.

Financial Advising 223

Financial Advising Manufacturing Media Retail 223

Nerd's Eye View

APRIL 22, 2024

Broadly speaking, there are 2 models of working as a financial advisor: operating independently as a firm owner or with a large affiliate platform such as a wirehouse broker-dealer, independent broker-dealer, or larger corporate RIA. Deciding which model to work under is a key moment in beginning or evolving a career as an advisor. In the independent model, owners/advisors are generally paid directly by the clients they serve, and they select and pay for the vendors, services, and employees that

Compliance 219

Compliance Clients Financial Advisor Numbers 219

Advisor Perspectives

APRIL 26, 2024

The S&P 500 capped off its best week of the year as it rose 2.67% from last Friday. The weekly gain ends the index's streak of three straight weekly losses. The index is currently up 7.53% year to date and now sits 2.94% below its record close from March 28, 2024.

105

105

Calculated Risk

APRIL 24, 2024

From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 2.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 19, 2024. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.7 percent on a seasonally adjusted basis from one week earlier.

Marketing 124

Marketing Marketing 124

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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

The Big Picture

APRIL 27, 2024

The weekend is here! Pour yourself a mug of coffee, grab a seat outside, and get ready for our longer-form weekend reads: • We might be closer to changing course on climate change than we realized : Greenhouse gas emissions might have already peaked. Now they need to fall — fast. ( Vox ) • Tesla Is Not the Next Ford. It’s the Next Con Ed. Elon Musk’s EV empire is crumbling.

Banking 166

Banking Sales Investing Investments 166

Abnormal Returns

APRIL 26, 2024

The biz Beware the fake podcast invite. (bigtechnology.com) The Apple ($AAPL)-Spotify ($SPOT) battle is just exhausting. (spyglass.org) Economy Barry Ritholtz talks with Bill McBride about which economic data really matters. (ritholtz.com) James Pethokoukis talks economic optimism with Ed Yardeni. (fasterplease.substack.com) Derek Thompson talks with Ravi Agrawal, the editor-in-chief of Foreign Policy magazine, about India under Modi.

Portfolio Management 205

Portfolio Management Economics Assets Management 205

Nerd's Eye View

APRIL 24, 2024

Over the past few decades, advicers have used Monte Carlo analysis tools to communicate to clients if their assets and planned level of spending were sufficient for them to realize their goals while (critically) not running out of money in retirement. More recently, however, the Monte Carlo "probability of success/failure" framing has attracted some criticism, as it can potentially alter the way that a client perceives risk, leading them to make less-than-ideal decisions.

Communication 205

Communication Retirement Clients Accounting 205

Wealth Management

APRIL 26, 2024

As clients become increasingly aware of the complexities of wealth transfer, asset protection and legacy planning, they expect comprehensive guidance from their advisors.

Wealth Management 106

Wealth Management Estate Planning Planning Management 106

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

Calculated Risk

APRIL 27, 2024

The key report scheduled for this week is the April employment report. Other key reports include February Case-Shiller house prices, April vehicle sales, and the March trade balance. The FOMC meets this week and no change to policy is expected. For manufacturing, the April Dallas Fed manufacturing survey, and the ISM index will be released. -- Monday, April 29th -- 10:30 AM: Dallas Fed Survey of Manufacturing Activity for April. -- Tuesday, April 30th -- 9:00 AM: S&P/Case-Shiller House Price

Manufacturing 102

Manufacturing Sales Government Numbers 102

The Big Picture

APRIL 26, 2024

This week, we speak with Dr. Ed Yardeni, President of Yardeni Research , a provider of global investment strategies and asset-allocation analyses and recommendations. He previously served as Chief Investment Strategist of Oak Associates, Prudential Equity Group, and Deutsche Bank’s US equities division in New York City. He taught at Columbia University’s Graduate School of Business and was an economist with the Federal Reserve Bank of New York and at the Federal Reserve Board of Governors and t

Asset Allocation 150

Asset Allocation Advertising Engineering Media 150

Abnormal Returns

APRIL 23, 2024

Geopolitics A look at how geopolitical events affect the stock market. (carsongroup.com) Why we fear doing nothing during a geopolitical crisis. (behaviouralinvestment.com) Strategy Investors need to understand history and be willing to look ahead. (morningstar.com) Why people make seemingly bad financial decisions. (ofdollarsanddata.com) Companies Meta ($META) never wants to be at the mercy of Apple ($AAPL).

Financial Advising 226

Financial Advising Media Economy Management 226

A Wealth of Common Sense

APRIL 26, 2024

Here’s the lede from a Bloomberg article about rich people trying to avoid taxes in New York City: At New Jersey’s Teterboro and Long Island’s Islip airports, dozens of private jets destined for Florida take off at times such as 11:42 p.m. or 11:54 p.m. Over at JFK, a regular flight from San Juan, Puerto Rico, arrives at a seemingly purposeful time: about 15 minutes after midnight.

Taxes 100

Taxes 100

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

Advisor Perspectives

APRIL 25, 2024

The advance estimate for Q1 GDP came in at 1.59%, a deceleration from 3.40% for the Q4 final estimate. With a per-capita adjustment, the headline number is lower at 1.00%, a decrease from 2.79% for the Q4 headline number.

Numbers 103

Numbers 103

Calculated Risk

APRIL 25, 2024

From the National Center for Health Statistics: Births: Provisional Data for 2023. The NCHS reports: The provisional number of births for the United States in 2023 was 3,591,328, down 2% from 2022. The general fertility rate was 54.4 births per 1,000 females ages 15–44, down 3% from 2022. The total fertility rate was 1,616.5 births per 1,000 women in 2023, a decline of 2% from 2022.

Numbers 110

Numbers 110

Trade Brains

APRIL 27, 2024

Bearish Thrusting Candlestick Pattern: Technical analysis is a key method for market participants speculating on the movement in the price of stock. It consists of multiple methods to predict price movement. These methods were developed based on the historical reaction and movement of prices. One of the methods used in technical analysis is analyzing the candlestick patterns.

Banking 94

Banking Marketing Marketing Financial Market 94

Abnormal Returns

APRIL 22, 2024

Podcasts Brian Portnoy talks human-centric advice with Kelsey McKenna and Zachary Conway of Seeds Investor. (youtube.com) Larry Sprung talks with Josh Brown about his path to wealth management. (mitlinmoneymindset.libsyn.com) Jordan Haynes talks with Justin Castelli about his transition into life planning, especially for financial advisers. (getelements.com) Frazer Rice talks with Christopher Holtby about the role of a directed trustee.

Financial Advising 215

Financial Advising Wealth Management Management Taxes 215

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Accounting

Wealth Management

APRIL 24, 2024

Prosperitage Wealth's Brian Seymour explains the crucial role coaching played in shaping his career, helping him identify his unique strengths and develop his “super power.

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Advisor Perspectives

APRIL 23, 2024

Fifth district manufacturing activity remained slow in April, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index rose to -7 this month from -11 in March, marking its 6th consecutive negative reading. This month's reading was consistent with the forecast.

Manufacturing 105

Manufacturing Banking 105

Calculated Risk

APRIL 24, 2024

Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Thursday: • At 8:30 AM ET, Gross Domestic Product, 1st quarter 2024 (Advance estimate). The consensus is that real GDP increased 2.1% annualized in Q1, down from 3.4% in Q4. • Also at 8:30 AM, The initial weekly unemployment claims report will be released. The consensus is for 210 thousand initial claims, down from 212 thousand last week. • At 10:00 AM: Pending Home Sales Index for March.

Sales 102

Sales Manufacturing 102

A Wealth of Common Sense

APRIL 28, 2024

A colleague recently asked me to run the 30 year annual returns for U.S. stocks, bonds and cash. He just wanted the returns. I couldn’t help but slice and dice the numbers and overanalyze the data because that’s what we do here. Let’s dig in. First the annual return numbers for the S&P 500, 10 year treasuries and 3 month T-bills over the 30 years ending in 2023: Some thoughts about these numbers: St.

Financial Market 82

Financial Market Marketing Marketing Numbers 82

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Digital platforms can provide you with plenty of solutions, yet many are still intimidated by them. It's time to end that worry and embrace what could make a major difference for your bank. Understanding how they work and how to best utilize them for your banks is key toward success. In this article, Biz2X breaks down all things digital platforms, including the many advantages of embracing them.

Banking

Abnormal Returns

APRIL 27, 2024

EVs Battery recycling improves the case for EVs. (bloomberg.com) Google Maps will soon have better charging station data. (electrek.co) Mercedes Benz has unveiled an EV version of the G wagon. (engadget.com) Honda ($HMC) is building out its EV capacity in North America. (cnbc.com) Transport An increasing proportion of used car sales now happen online.

Transportation 181

Transportation Food Financial Advising Medical 181

Wealth Management

APRIL 24, 2024

Former leaders at Goldman Sachs, Fidelity, Creative Planning and Wealth Enhancement Group have joined to accelerate the firm's growth as a new multicustodial platform for independent advisors.

Planning 97

Planning 97

Alpha Architect

APRIL 26, 2024

Hibbert, Kang, Kumar and Mishra provided us with yet another explanation: social media is providing analysts with information that reduces their forecasting errors. The result has been an increase in market efficiency, leading to a reduction in the PEAD anomaly. The bottom line is that the ability to generate alpha continues to be under assault—trying to outperform the market by stock selection is becoming even more of a loser’s game.

Media 88

Media Marketing Marketing 88