The Big Picture
MAY 1, 2023
I have been a reader of Jamie Catherwood’s Investor Amnesia since it launched. It is always filled with interesting reminders from the past. Investor Amnesia is a wonderful reminder that we tend to forget that which came before. Ray Dalio put it even more starkly, noting that nothing is truly unprecedented , and we tend to use that word to refer to those things we have not experienced in our lifetimes.
Abnormal Returns
MAY 1, 2023
Podcasts Daniel Crosby talks ETFs and more with Dave Nadig of VettaFi. (standarddeviationspod.com) Andrew Hatherley talks gray divorce with Liz Merrill. (transcendretirement.net) The biz Charles Schwab ($SCHW) is planning to put more effort into Schwab Private Client. (financialadvisoriq.com) Three United Capital alumni have launched Modern Wealth Management.
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The Big Picture
MAY 1, 2023
My back-to-work morning train WFH reads: • The Fed Has No Good Options. The Risk of a Misstep Is Growing. The Federal Reserve is struggling to cool inflation further without damaging the economy. The easy part is over. ( Barron’s ) • The Bear Market’s Survivors Share Their Biggest Lessons : With the S&P 500 in the longest bear market since 1973, individual investors maneuver differently from just months ago. ( Wall Street Journal ) • How Druckenmiller Does It: He Hates To Lose : Drucke
Abnormal Returns
MAY 1, 2023
Markets How major asset classes performed in April 2023. (capitalspectator.com) The Nasdaq 100 has outpaced the Russell 2000 by over 20% in 2023. (twitter.com) Crypto Gary Gensler's SEC has been busy. (investmentnews.com) Bitcoin transaction volume is on the rise. (blockworks.co) Banks JP Morgan Chase ($JPM) is now the owner of First Republic. (cnbc.com) The banking industry's 'crisis phase' may be over for now.
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.
Nerd's Eye View
MAY 1, 2023
Welcome to the May 2023 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 robo-advisor Betterment entered into a $9M settlement with the SEC for misrepresenting its tax-loss harvesting practices in its client agreements and marketing materials compared with its actual practice
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
eMoney Advisor
MAY 1, 2023
When asked about how they started in the industry, many of the Asian-American financial planners I admire say the same thing: At first, they didn’t even know the profession existed. There is power in the phrase “to be it, you need to see it.” Only 4 percent of Certified Financial Planner™ professionals identify as Asian American or Pacific Islander (AAPI), though they make up 6.2 percent of the American population. 1,2 Despite the small numbers, AAPI professionals remain the largest
Wealth Management
MAY 1, 2023
With $2 billion in advised assets and a niche serving tech entrepreneurs, Austin-based Brainard will help Pathstone become a national brand for ultra-high-net-worth clients.
Calculated Risk
MAY 1, 2023
Today, in the Calculated Risk Real Estate Newsletter: Year-over-year Rent Growth Continues to Decelerate A brief excerpt: Tracking rents is important for understanding the dynamics of the housing market. For example, the sharp increase in rents helped me deduce that there was a surge in household formation in 2021 (See from September 2021: Household Formation Drives Housing Demand ).
Wealth Management
MAY 1, 2023
The Department of Education is calling it the “most ambitious and significant redesign of the federal student aid application in decades.
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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.
NAIFA Advisor Today
MAY 1, 2023
Aflac District Coordinator Terry Anderson 's interest in the insurance industry started with a snowmobile accident that reinforced for him a fundamental truth about insurance—when people get hurt or sick, they still need money to pay the bills. Two years later, Anderson was talking with a customer in his store who was an Aflac agent. She told him that, when someone gets hurt or sick, Aflac pays the claim quickly and Anderson asked himself, “Why didn’t I know about this after my accident?
Advisor Perspectives
MAY 1, 2023
"Travel on all roads and streets changed by +1.9%% (+4.5 billion vehicle miles) for February 2023 as compared with February 2022. Travel for the month is estimated to be 233.7 billion vehicle miles." The 12-month moving average was up month-over-month (MoM) by 0.14% and was up 0.5% year-over-year (YoY). If we factor in population growth, the 12-month MA of the civilian population-adjusted data (age 16-and-over) was up 0.1% MoM and down 0.6% YoY.
Calculated Risk
MAY 1, 2023
From the Census Bureau reported that overall construction spending increased: Construction spending during March 2023 was estimated at a seasonally adjusted annual rate of $1,834.7 billion, 0.3 percent above the revised February estimate of $1,829.6 billion. The March figure is 3.8 percent above the March 2022 estimate of $1,768.2 billion. emphasis added Both private and public spending increased: Spending on private construction was at a seasonally adjusted annual rate of $1,435.1 billion, 0.3
Walkner Condon Financial Advisors
MAY 1, 2023
Let’s talk about stock options that private companies offer and go through the pros and cons of each. You join a great company with an even better culture. They offer stock options component and might be wondering, “…what exactly are these Stock Options and Restricted Stock?” or “…what should I do with my pre-IPO RSUs?”. Common Types of Equity Compensation for Private Companies In younger private (or “pre-IPO”) companies it is common to be offered stock options, Restricted Stoc
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.
Wealth Management
MAY 1, 2023
The race to implement AI technologies is producing another burst of activity in the data center sector, reports Bisnow. Forbes examines the implications of Vornado choosing to suspend its dividend. These are among the must reads from around the real estate investment world to kick off the new week.
Advisor Perspectives
MAY 1, 2023
Quick take : At the end of April, t he inflation-adjusted S&P 500 index price was 117% above its long-term trend, up 7% from March. About the only certainty in the stock market is that, over the long haul, over-performance turns into underperformance and vice versa. Is there a pattern to this movement? Let's apply some simple regression analysis to the question.
MarketWatch
MAY 1, 2023
JPMorgan Chase JPM shares rose 3% in early premarket trade after winning the auction to buy First Republic Bank. JPMorgan said it expects the deal to be modestly earnings per share accretive, generating more than $500 million of incremental net income per year, excluding a $2.6 billion one-time gain and estimated $2 billion of restructuring costs. First Republic shares FRC fell 36% to $2.24, even though neither the FDIC nor JPMorgan release indicates shareholders will get any consideration.
Alpha Architect
MAY 1, 2023
The expense ratio aside, the cost of transacting in an ETF depends on the size of the bid/ask spread at any point in time during the trading day. The ETF investor should make evidence-based trading decisions since the bid/ask spread can range from 1 basis point (bp) to several hundred bps. What are some intelligent guidelines for ETF investors--avoid the open, avoid the close, and what about everything in-between?
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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.
Zoe Financial
MAY 1, 2023
Market Drama Featuring Zoe CEO & Founder, Andres Garcia-Amaya, CFA May 1, 2023 Watch Time: 4 minutes Welcome to this week’s Market Drama! The S&P 500 was up almost 1%. Nasdaq is now up 17% year-to-date. The U.S. aggregate bond index was up and is now up 3.6% year-to-date. Economic Data: Inflation data – The core CPE index came in as expected at 4.6% year-over-year.
Good Financial Cents
MAY 1, 2023
A Contributory IRA, otherwise known as a traditional IRA , is a retirement savings account that allows individuals to make contributions from their earned income. The contributions made to the account may be tax-deductible or non-deductible, depending on the individual’s income level and participation in an employer-sponsored retirement plan. Contributory IRA accounts are held by custodians, such as banks, brokerage firms, and mutual fund companies.
Calculated Risk
MAY 1, 2023
(Posted with permission). The ISM manufacturing index indicated contraction. The PMI® was at 47.1% in March, up from 46.3% in March. The employment index was at 50.2%, up from 46.9% last month, and the new orders index was at 45.7%, up from 44.3%. From ISM: Manufacturing PMI® at 47.1% April 2023 Manufacturing ISM® Report On Business® Economic activity in the manufacturing sector contracted in April for the sixth consecutive month following a 28-month period of growth, say the nation's supply exe
Wealth Management
MAY 1, 2023
First Republic’s private wealth-management platform will become part of JPMorgan Advisors, which JPMorgan inherited from Bear Stearns when it bought that firm in 2008.
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All accounting teams know what it is like to dread the inevitable month-end scaries. If there was a way to feel less burdened and maybe even a little enthusiastic to work on your month-end close and reconciliation process, would you do it? No, don't answer that, of course you would! Automate your month-end close process by up to 40% with SkyStem's ART and see how much more alive you feel!
Advisor Perspectives
MAY 1, 2023
Educating children on basic financial concepts from an early age can set a practice apart while empowering your clients’ children. The benefits of doing so are many, including earning goodwill and trust from parents and providing an opportunity to connect with the “next-gen” investor in early and constructive ways.
Wealth Management
MAY 1, 2023
The veteran executive will work to consolidate, standardize and scale the West Coast RIA.
XY Planning Network
MAY 1, 2023
We’re big fans of niches here at XYPN. We champion them on XYPN Radio, tout them when speaking at conferences, and praise them on our blog. CEO and Co-Founder Alan Moore extensively covers the topic of “niching-down” in talks, podcasts, and one of our more popular webinars. Niches are important to identify, and even more valuable if you can own them entirely.
Wealth Management
MAY 1, 2023
Discover how advisor investment decisions are changing—and are likely to evolve—given current market and economic conditions.
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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.
Alpha Architect
MAY 1, 2023
Partial exposure to domestic equities. Full exposure to international equities. No exposure to REITs. No exposure to commodities. Partial exposure to intermediate-term bonds. DIY Trend-Following Allocations: May 2023 was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.
Wealth Management
MAY 1, 2023
Errors in a software update to MoneyGuidePro and a Tamarac outage got advisors talking and tweeting.
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