Thu.Apr 18, 2024

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Thursday links: sharing your best work

Abnormal Returns

Strategy Passive investors don't change relative prices. (bloomberg.com) A good outcome doesn't necessarily mean it was a good decision. (novelinvestor.com) Don't change your asset allocation in response to a market pullback. (rogersplanning.blogspot.com) Crypto The Grayscale Bitcoin Trust ($GBTC) continues to leak assets. (wsj.com) Bitcoin is whatever you want it to be.

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Kitces & Carl Ep 136: Should Internal Succession Plans Provide A G2 Discount For Lack Of Affordability?

Nerd's Eye View

For over a decade, the financial advice industry has been bracing for an "any-minute-now" tsunami of advisor retirements and concomitant sales of financial planning practices. Although that wave has yet to materialize (as many advisors may find that they'd prefer to stay engaged and earn well past the 'traditional' retirement age), the fact remains that, at some point, many aging advisors will have the opportunity to capture the enterprise value that they've spent their careers building.

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Longform links: an age of misinformation

Abnormal Returns

Books An excerpt from James Lawrence Powell’s book “Mysteries of the Deep: How Seafloor Drilling Expeditions Revolutionized Our Understanding of Earth History.“ (thereader.mitpress.mit.edu) An excerpt from "Everest, Inc.: The Renegades and Rogues Who Built an Industry at the Top of the World" by Will Cockrell. (insidehook.com) Lessons learned from "Wuhan: How the Covid-19 Outbreak in China Spiraled Out of Control," by Prof Dali Yang.

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The Psychology of Inflation

A Wealth of Common Sense

A reader asks: I get all the stuff Ben has been saying about inflation — wages have kept pace, economic growth has been higher than the 2010s, wages have risen the most for lower income people, etc. I get all that. My husband and I own a house and own stocks so we’ve benefitted in recent years. Having said all of that, I STILL CAN’T GET OVER HOW HIGH PRICES ARE!!!

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Live Demo: How to Achieve Reconciliation Zen

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

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

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NAR: Existing-Home Sales Decreased to 4.19 million SAAR in March; Median House Prices Increased 4.8% Year-over-Year

Calculated Risk

Today, in the CalculatedRisk Real Estate Newsletter: NAR: Existing-Home Sales Decreased to 4.19 million SAAR in March Excerpt: Sales Year-over-Year and Not Seasonally Adjusted (NSA) The fourth graph shows existing home sales by month for 2023 and 2024. Sales declined 3.7% year-over-year compared to March 2023. This was the thirty-first consecutive month with sales down year-over-year.

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More Trending

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NAIFA Trustee Kagawa Honored for Public Service

NAIFA Advisor Today

Congratulations to NAIFA Trustee Stephen Kagawa , LUTCF, FSS, on being named the 71 st recipient of NAIFA-Los Angeles ’s Will G. Farrell Public Service Award. The CEO and Chairman of the Board of The Pacific Bridge Companies has been a loyal NAIFA member since 1986.

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The Diamond Podcast for Financial Advisors: How to Determine if Change Is 'Worth It'

Wealth Management

In looking for “better ways” to foster growth and solve for other long-term goals, advisors need to weigh the value of pain vs. gain when it comes to a transition.

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Don't Move The Goal Post On Your Financial Security

Random Roger's Retirement Planning

First, an update on my test drive of the Defiance NASDAQ 100 Enhanced Option Income ETF (QQQY). I bought 100 shares on its first or second day of trading last fall for $2017 and I sold it today for $2114 which includes reinvesting the dividends. The price, without reinvesting dividends has fallen by about 24% but as I've been saying all along with these, if the entire dividend is taken out and spent, they are likely to go to zero (not quite literally).

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CG Financial Services: Taking A Holistic Approach With Clients

Wealth Management

Jeff Casey, president and senior financial advisor at CG Financial Services, uses integrations of various programs to achieve efficiency for the $3.1 billion AUM firm.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.

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Weekly Initial Unemployment Claims Unchanged at 212,000

Calculated Risk

The DOL reported : In the week ending April 13, the advance figure for seasonally adjusted initial claims was 212,000 , unchanged from the previous week's revised level. The previous week's level was revised up by 1,000 from 211,000 to 212,000. The 4-week moving average was 214,500, unchanged from the previous week's revised average. The previous week's average was revised up by 250 from 214,250 to 214,500. emphasis added The following graph shows the 4-week moving average of weekly claims since

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Lawsuits Targeting Mariner Continue to Boil in Federal, State Courts

Wealth Management

Edelman Financial Engines is fighting Mariner’s motion to dismiss its lawsuit. In a new filing, Edelman argues that Mariner gets “free rides” off of its competitors.

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The Hidden Risks in Cash-Sweep Accounts

Advisor Perspectives

Let’s explore the world of cash. One year after the collapse of SVB, fiduciaries need to understand the cash management platforms on the market, including the fine print that can make or break a client relationship. The right platform will help the advisor provide more holistic advice and grow their AUM organically. My guest will discuss what advisors need to know about cash sweep accounts and how advisors can evaluate different platforms.

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Miracle Mile Hires New Chief of Investments

Wealth Management

From Telemus Capital, Matt Dmytryszyn's resume spans 20 years as a research analyst for LaSalle Street, Russell Investments and Piper Jaffray,

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Banking on Loyalty: Holistic Financial Advice for Unparalleled Business Growth

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.

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Hotels: Occupancy Rate Increased 2.8% Year-over-year

Calculated Risk

From STR: U.S. hotel results for week ending 13 April Helped by the total solar eclipse, U.S. hotel performance increased from the previous week, according to CoStar’s latest data through 13 April. 7-13 April 2024 (percentage change from comparable week in 2023): • Occupancy: 65.8% (+2.8%) • Average daily rate (ADR): US$160.20 (+2.9%) • Revenue per available room (RevPAR): US$105.48 (+5.8%) emphasis added The following graph shows the seasonal pattern for the hotel occupancy rate using the four-

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Adjusted for Risk: What Financial Advisors Should Know About Private Equity Investing

Wealth Management

The questions advisors should ask when considering private equity investments for their clients.

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Realtor.com Reports Active Inventory UP 29.1% YoY; New Listings Up 7.2% YoY

Calculated Risk

What this means: On a weekly basis, Realtor.com reports the year-over-year change in active inventory and new listings. On a monthly basis, they report total inventory. For March, Realtor.com reported inventory was up 23.5% YoY, but still down almost 38% compared to March 2017 to 2019 levels. Now - on a weekly basis - inventory is up 29.1% YoY. Realtor.com has monthly and weekly data on the existing home market.

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IRS Issues New Notice on Inherited IRAs

Wealth Management

It waives excise tax for failure to take RMDS for 2024 for certain accounts

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Transforming Lending: Understanding the Power of Digital Platforms

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.

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Celebrating Barbara Pietrangelo: Financial Planner of the Year Winner and Financial Literacy Advocate

NAIFA Advisor Today

NAIFA Trustee Barbara A. Pietrangelo , an accomplished Financial Planner and a loyal member of NAIFA since 1992, stands out as a beacon of expertise and commitment. Her career began in 1991 at the Prudential Insurance Company of America, where she has since ascended to become the Wealth Solutions Report Financial Planner of the Year as One of the Top Women Industry Leaders for 2024.

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Planning Your Exit on Your Terms

Carson Wealth

Carson Wealth’s Thom Hall CFP®️, ChFC®️, CExP, CEPA Managing Director, Partner & Wealth Advisor and Rick Krebs CPA, CEPA discuss business exit planning and how to make an intelligent exit. Rick Krebs and BSales Group are not an affiliate of Cetera Advisor Networks, LLC, or CWM, LLC. Opinions expressed by the presenter may not be representative of Cetera Advisor Networks, LLC, or CWM, LLC.

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A Hero of Zero: Modern Retirement Strategies

NAIFA Advisor Today

David McKnight is a renowned financial advisor and expert in zero-tax retirement planning, having assisted thousands of Americans in achieving the zero percent tax bracket. He has frequently appeared in numerous national publications, including Forbes , USA Today , the New York Times , Fox Business , CBS Radio, and Bloomberg Radio. With four #1 Amazon best-selling books to his credit, including The Power of Zero , Look Before You LIRP , The Volatility Shield , and Tax-Free Income for Life , Davi

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King Dollar Risks Becoming Greenback the Bully

Advisor Perspectives

When does a strong dollar become too strong? “Right now” would be the cry of most emerging-market currencies, not to mention policymakers in Japan. Even the European Central Bank says it’s paying attention to the foreign exchange market.

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Navigating Financial Storms: Strategies for Building Resilient Balance Sheets

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.

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The Ins and Outs of Trend Following

Validea

Trend following is a popular investment strategy that has gained significant attention in recent years, particularly in the realm of equity investing. This article will delve into the concept of trend following, its effectiveness, the metrics and lookback periods commonly employed, and the behavioral challenges it presents to investors. What is Trend Following?

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Can Japan’s Stock Market Continue Its Record-Setting Run?

Advisor Perspectives

Japan has had two big moments in the last month, with the Nikkei 225 equity index breaking above the highs set in 1989, and the Bank of Japan (BoJ) raising interest rates for the first time in 17 years.

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A good kind of lazy auditor

Norman Marks

My congratulations to David Dufek for his recent article for the IIA’s Internal Auditor magazine, Building a Better Auditor: Be Lazier. He makes several excellent points, but misses one: it can take hard work to be what he calls “the good kind of lazy”.

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Hedge Funds Sell Off Winning Energy Stocks to Buy Soaring Oil

Advisor Perspectives

With energy stocks trading near all-time highs and oil climbing as well, hedge funds think they’ve found a trade to capitalize: Sell the shares and pour the profits into buying more crude.

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The Blueprint for a Customer-Centric Digital Lending Experience

Creating a winning digital lending experience requires plenty of focus on the needs of customers and more. Biz2X Chief Product Officer Aaron Traub covers everything from how to create such an experience, areas to hone in on, pitfalls to avoid, and plenty more in this insightful article. Discover how to utilize new technology without alienating existing customers, what to emphasize when working on your platform, and how to utilize the data at your disposal while not becoming overly reliant on it.

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Sticky inflation and stubborn central banks

SEI

Part two: Jim Solloway, Chief market strategist and senior portfolio manager, and Vivian Estadt, Client service director, present our economic outlook in this two-part series.

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The World Is Still on Fire

Advisor Perspectives

For the last several years, world leaders have made big promises and laid out bold plans to mitigate the climate crisis and help the neediest countries adapt. At this year's World Bank/IMF Spring Meetings, they must demonstrate that they can fulfill these promises, rather than simply touting new ones.

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Hanging Man Candlestick Pattern – Psychology, Strengths And Trading Ideas

Trade Brains

Hanging Man Candlestick Pattern: Investors use technical analysis to predict stock price movements based on historical trends. The candlestick pattern is a popular method that examines the shape and color of individual candlesticks to identify past reactions and predict future stock price movements. This approach is essential for making informed investment decisions in the stock market.

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