Mon.Feb 27, 2023

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10 Monday AM Reads

The Big Picture

My back-to-work morning train WFH reads: • How to Print Money : Cash may seem old-fashioned these days — but in much of the world, cash is still king. The process of making money requires teams of experienced designers and engravers who etch the plates with portraits, vignettes, lettering and ornamentation. The designs are crafted with both aesthetics and security in mind. ( New York Times ) • Apartment Rents Fall as Crush of New Supply Hits Market : Declines signal tenants may be maxed-ou

Valuation 284
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Adviser links: asking good questions

Abnormal Returns

Podcasts Christine Benz and Jeff Ptak talk with Derek Tharp about retirement-spending strategies, sequence risk, and portfolio construction. (morningstar.com) Daniel Crosby talks with Rachel J. Robasciotti is the Founder and CEO of Adasina Social Capital. (standarddeviationspod.com) Michael Kitces talks with Danqin Fang who is a Lead Advisor for Austin Asset, an independent RIA.

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CFP Misconduct Research (And The Challenge Of Counting How Many Financial Advisors There Really Are)

Nerd's Eye View

Financial advisors are generally required to abide by ethical standards, such as the duty to act in a client’s best interests when giving financial advice. Advisors who attain the CFP marks are held to even higher standards, though, with all CFP certificants required to adopt CFP Board’s own more-stringent Code of Ethics and Standards of Conduct.

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Monday links: sudden reversals

Abnormal Returns

Markets U.S. equity market outperformance versus international stocks isn't permanent. (awealthofcommonsense.com) Do stocks always outperform bonds over the long run? (mailchi.mp) Behavior What we don't know almost always outweighs what we do. (ritholtz.com) Warren Buffett isn't afraid to admit mistakes. (rationalwalk.com) Why we love to kick the can down the road, until we can't.

Startup 130
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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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CFP Misconduct Research And The Challenge Of Counting How Many Financial Advisors There Really Are

Nerd's Eye View

Financial advisors are generally required to abide by ethical standards, such as the duty to act in a client’s best interests when giving financial advice. Advisors who attain the CFP marks are held to even higher standards, though, with all CFP certificants required to adopt CFP Board’s own more-stringent Code of Ethics and Standards of Conduct.

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More Trending

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We all need active listening skills

Norman Marks

Whatever your role within the organization, the ability to listen, really hear, and understand others is crucial. The concept of active listening takes the idea further. Skills you need has an excellent article on the topic. I like what it says: Active listening involves listening with all senses.

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What Makes Your Advisory Business Marketable?

Advisor Perspectives

As we begin 2023 and you think about how you want to market your financial advisory business, my number one tip is this…

Marketing 118
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10 Female-Led Financial Advisor Websites to Inspire Your Next Redesign

FMG

We get the pleasure of building website for a variety of financial advisors, including these amazing female-led firms. From their intuitive design to the way they market their businesses, these examples are sure to wow you. Read on to learn more about each website and why we chose to include it on our list. 10 Examples of Female-Led Firms and Their Websites The eight firms below have continued to impress us with their lead-generation tactics, the unique niches that they cater to, and much more,

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: Dow bounces more than 200 points as U.S. stocks open higher after report on durable goods orders

MarketWatch

U.S. stocks opened higher Monday, with the Dow Jones Industrial Average bouncing more than 200 points, as investors weigh a report on durable goods orders. The Dow Jones Industrial Average DJIA was up 0.7% soon after the opening bell, while the S&P 500 SPX rose 0.8% and the Nasdaq Composite COMP gained 1.1%, according to FactSet data, at last check.

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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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Lawler: AMH Net Seller of Existing Single-Family Homes, “Investor” Home Purchases Plunged

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: Lawler: AMH Net Seller of Existing Single-Family Homes, “Investor” Home Purchases Plunged Brief excerpt: Some interesting data from housing economist Tom Lawler: AMH Net Seller of Existing Single-Family Homes Last Quarter AMH (American Homes 4 Rent), which rents single-family homes and which owned almost 59,000 single-family homes at the end of last year, reported that it was a net seller of existing single-family homes last quarter.

Sales 98
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A Framework for Assessing Variable Spending Strategies

Advisor Perspectives

Being flexible with spending matters. My analysis shows that variable spending strategies – including floor-and-ceiling, guardrail, actuarial and other methods – can dramatically increase sustainable retirement spending.

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Measures of Shelter in the CPI and PCE price indexes Still Increasing

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: Measures of Shelter in the CPI and PCE price indexes Still Increasing Brief excerpt: While asking rents are falling, the measures of shelter in the CPI and PCE price indexes keep rising. This is because these measures include renewals, whereas the various private measures of monthly rents are for new leases.

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Strong consumer spending adds to inflationary pressures: Weekly Economic Review & Outlook

Nationwide Financial

The strong employment gains in January resulted in a jump in personal income and consumer spending last month. This led to faster, broad-based inflation that raises the likelihood that the Fed will raise rates beyond its previous estimates. Also, home sales activity remained subdued due to poor affordability and a low supply of existing homes for sale.

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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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NAR: Pending Home Sales Increased 8.1% in January; Down 24.1% Year-over-year

Calculated Risk

From the NAR: Pending Home Sales Improved for Second Straight Month, Up 8.1% in January Pending home sales improved in January for the second consecutive month, according to the National Association of REALTORS®. All four U.S. regions posted monthly gains but saw year-over-year drops in transactions. The Pending Home Sales Index (PHSI) — a forward-looking indicator of home sales based on contract signings — improved 8.1% to 82.5 in January.

Sales 98
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What is Bond Duration and Why is it Important?

Walkner Condon Financial Advisors

What is Bond Duration? It is important to understand that duration is a way of measuring how much bond prices are likely to change if and when interest rates move. In more technical terms, duration is measurement of interest rate risk. The key point to remember is that rates and prices move in opposite directions. When interest rates rise, the prices of bonds fall, and vice versa.

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Integrated Partners Adds $2.25B RIA Laurel Wealth

Wealth Management

Integrated Partners, a fast-growing RIA built on a CPA-affiliation model, makes its first full acquisition—a $2.25 billion Southern California RIA—as the firm embarks on “deliberate” M&A growth strategy.

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The Fed needs to tame the inflation beast

David Nelson

Click on picture for video. Sat down with TD Ameritrade host Oliver Renick to weigh in on the Fed and stocks reporting tonight and in the morning.

Economy 105
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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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Lindsay Hans to Succeed Don Plaus as Head of Merrill Private Wealth

Wealth Management

Keith Glenfield will take over Hans’ previous position as head of the firm’s Northeast division, while Nancy Fahmy will oversee Glenfield’s Investment Solutions division while also continuing her role heading Alternative Investments.

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Beware of Low-Volatility Portfolios

Advisor Perspectives

Low-volatility strategies are often cited as an anomaly offering higher returns without a corresponding increase in risk. But the so-called low-volatility factor is well explained by other factors, and new research shows it does not reduce exposure to “systemic,” broad-economic risks.

Portfolio 124
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Private Investors Are Frustrated by Current Multifamily Yields

Wealth Management

Private real estate investors have lowered targeted IRRs, but market conditions make it tough to find deals that pencil out.

Marketing 109
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Talk Your Book: The “Tech Heavy” Nasdaq

A Wealth of Common Sense

Today’s show is brought to you by Nasdaq: We are joined by Phil Mackintosh, Chief Economist and Senior Vice President at Nasdaq, live from the Exchange ETF Conference in Miami! On today’s show, we discuss: If the Fed cuts rates this year or not, and what that means for the market Will there be a recession this year? What’s surprised Phil about the economy in the last 24 months How the labor market is this stro.

Economy 67
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Quick Start Guide to a Crystal Clear Close

Did you know automating your month-end close can save up to 40% of the time typically spent on manual reconciliations? CFOs and controllers are leveraging SkyStem's workflow management and reconciliation tool to eliminate costly mistakes, ditch manual reconciliations and close faster. Want to know how they do it? Download our Quick Start Guide to a Crystal Clear Close!

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Focus Goes Private After Acquisition by PE Firm

Wealth Management

The deal with Clayton, Dubilier & Rice has an enterprise value totaling more than $7 billion, with stockholders set to receive $53 per share.

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: AMC stock soars more than 13% a day before quarterly results

MarketWatch

Shares of AMC Entertainment Inc. AMC surged 13.6% toward a 12-week high in afternoon trading Monday, a day before the movie theater operator is scheduled to report fourth-quarter results. Wedbush analyst Alicia Reese believes movie theater attendance is on the path to normalization, given an improving movie release slate in 2023. Reese expects industry box office this year to be 17% above 2022, but still down 24% versus 2019 levels.

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11 Must Reads for CRE Investors Today (Feb. 27, 2023)

Wealth Management

CoStar was able to beat an antitrust suit filed by startup CREXi, reports The Real Deal. The RCA CPPI National All-Property index is now down 27.9% year-over-year, the biggest drop since the Great Financial Crisis. These are among today’s must reads from around the commercial real estate industry.

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: Ready Capital and Broadmark Realty Capital to merge and create company with equity capital base of $2.8 billion

MarketWatch

Real estate finance company Ready Capital Corp. RC and Broadmark Realty Capital Inc. BRMK said Monday they have agreed to merge in a deal that is expected to create a company with a pro forma equity capital base of $2.8 billion. Under the terms of the deal, Broadmark stock will be converted into 0.42733 shares of Ready Capital common stock, or a total of approximately 63 million shares of Ready Capital common stock.

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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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Why One Firm is Betting on Core and Build-to-Core Real Estate Investments

Wealth Management

Crow Holdings Capital attributes its capital raising success to inclusive investment strategies that produce long-term income and value growth.

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: Dow ekes out gain, stocks end higher Monday after worst week of 2023

MarketWatch

U.S. stocks booked modest gains on Monday after recording their worst week of the year as jitters about inflation and interest rates rattled investors. The Dow Jones Industrial Average DJIA rose about 72 points, or 0.2%, ending near 32,889, while the S&P 500 SPX gained about 0.3% and the Nasdaq Composite Index COMP closed up 0.6%, according to preliminary FactSet data.

Economy 75
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Supply Chains Have Healed Yet Their Mark on Inflation to Endure

Wealth Management

Big retailers and manufacturers may not be seeing enough shipping-rate reductions yet to warrant slashing prices further.