The Big Picture
MARCH 16, 2023
Depositors heaved a sigh of relief when news broke Sunday that the Federal Deposit Insurance Corporation was going to make whole all of the accounts held at Silicon Valley Bank. Having full access to bank accounts meant those tech start-ups that make up much of SVB’s depositors would be able to make their weekly payrolls. They were the lucky ones: SVB’s equity investors were wiped out and senior bank management was fired.
Abnormal Returns
MARCH 16, 2023
Books Noah Smith talks with Kevin Kelly author of "Excellent Advice for Living." (noahpinion.substack.com) An excerpt from "Magic Words: What to Say to Get Your Way" by Jonah Berger. (behavioralscientist.org) An excerpt from “Next! The Power of Reinvention in Life and Work” by Joanne Lipman. (wsj.com) A Q&A with Dr. Peter Attia author of "Outlive: The Science and Art of Longevity.
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The Reformed Broker
MARCH 16, 2023
Final Trades: Adobe, Boeing, Rockwell Automation & more from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.
Calculated Risk
MARCH 16, 2023
Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report released today from Chief economist Danielle Hale: Weekly Housing Trends View — Data Week Ending Mar 11, 2023 • Active inventory growth continued to climb with for-sale homes up 61% above one year ago. Inventories of for-sale homes rose, tying last week’s gain, which was the lowest we’ve seen since December.
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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.
Wealth Management
MARCH 16, 2023
With EV manufacturers and their suppliers increasingly opening factories in the U.S., opportunities are growing for both build-to-suit construction and speculative development.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Wealth Management
MARCH 16, 2023
The Investment Adviser Association, the trade group for RIAs, said it appreciated the additional time and was worried about the “interrelatedness of the SEC's current proposals." The commission also proposed updates to cybersecurity rules for brokers.
The Reformed Broker
MARCH 16, 2023
The post Is My Money Safe? appeared first on The Reformed Broker.
Wealth Management
MARCH 16, 2023
Fallout from the collapses of Silicon Valley Bank and Signature Bank continued to impact banks, REIT stocks and commercial landlords. Five Below plans to open 200 new stores, reported Chain Store Age. These are among today’s must reads from around the commercial real estate industry.
MarketWatch
MARCH 16, 2023
U.S. stocks finished sharply higher on Friday, erasing losses from earlier in the session, as a group of big banks deposited $30 billion with troubled lender First Republic Bank. The S&P 500 SPX gained 68.36, or 1.8%, to close at 3,960.28, according to preliminary closing data from FactSet. The Dow Jones Industrial Average DJIA rose 371.98 points, or 1.2%, to 32,246.55.
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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.
Wealth Management
MARCH 16, 2023
Digital marketing and home-grown planning software, FP Alpha, have launched RIA Altfest into a new phase of tech-enabled growth as the firm looks to expand into new locations.
Calculated Risk
MARCH 16, 2023
The DOL reported : In the week ending March 11, the advance figure for seasonally adjusted initial claims was 192,000 , a decrease of 20,000 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 196,500, a decrease of 750 from the previous week's revised average.
Wealth Management
MARCH 16, 2023
The dynamics are shifting in the RIA M&A space, and recent events will likely spur a rise in small aggregators merging or selling to larger enterprises, argues NewEdge Advisors’ Alex Goss.
Advisor Perspectives
MARCH 16, 2023
The banking earthquake is sending shockwaves through the financial markets. The financial and economic aftershocks, soon to follow, are underappreciated and will prove worse than the earthquake.
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
MARCH 16, 2023
While the future of wealth management looks promising, wealth managers need to not only develop their digital capabilities, but also empower their bench of talent to capitalize on the opportunities ahead culturally and technologically, ensuring they do not get left behind.
Integrity Financial Planning
MARCH 16, 2023
Somewhere around 1999 and 2000, television started to change. Sitcoms were still very popular, and weekly dramas were also big, but several shows revolutionized how we think of television. They turned television into a medium for long-form, poetic storytelling. Before Netflix and streaming services pumped out shows as 8-hour binges, the following shows of the early 2000s began to set the groundwork for popular shows like Game of Thrones and Stranger Things.
Wealth Management
MARCH 16, 2023
University of Miami basketball brought Justin Heller and his partner together at the wirehouse; now they've launched their own firm with an assist from Rapport Financial's Aaron Hattenbach.
MarketWatch
MARCH 16, 2023
Virgin Orbit Holdings Inc.’s VORB stock plunged 28.9% Thursday after the satellite launch company announced an “operational pause.” In a filing with the Securities and Exchange Commission, Virgin Orbit announced the operational pause beginning Thursday “in order to conserve capital while the company conducts discussions with potential funding sources and explores strategic opportunities.
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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.
Wealth Management
MARCH 16, 2023
James Hughes of Live Oak Bank discusses debt financing for prospective breakaway advisors looking to de-risk a leap to independence or payoff a note balance, or business owners seeking funds for acquisitions or succession planning.
Calculated Risk
MARCH 16, 2023
From CoStar: STR: Start of Spring Break Boosts Weekly US Hotel Performance Helped by the onset of spring break travel, U.S. hotel performance increased from the previous week, according to STR‘s latest data through March 11. March 5-11, 2023 (percentage change from comparable weeks in 2022, 2019): • Occupancy: 64.7% (+2.8%, -7.5%) • Average daily rate (ADR): $158.20 (+8.1%, +16.6%) • Revenue per available room (RevPAR): $102.38 (+11.1%, +7.8%) emphasis added The following graph shows the seasona
Wealth Management
MARCH 16, 2023
The biggest banks, including JPMorgan, Bank of America and Citigroup, would contribute $5 billion of deposits each, with smaller banks kicking in smaller amounts.
A Wealth of Common Sense
MARCH 16, 2023
A reader asks: If a brokerage fails, what happens to a customer’s holdings there? Another reader asks: My wife and I have the bulk of our investments (401k & trading) in basically 2 accounts. Is this a dumb practice? Should we be more ‘diversified’ with our institutions? We’ve been discussing this for a while, and then with SVB, it’s definitely brought the discussion back to the kitchen table.
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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!
eMoney Advisor
MARCH 16, 2023
When I started Vincere Wealth as a fee-only practice, the vision was to become the go-to place for Millennials who need help with their money. I knew these clients were being overlooked. Early in my career at a large broker-dealer in San Francisco, I noticed retirees were the ones getting all the attention, while the Millennials were craving financial knowledge and the attention of financial advisors.
WiserAdvisor
MARCH 16, 2023
What is BrokerCheck? BrokerCheck is a tool any investor can use to research a financial professional or firm. This tool enables individuals to complete a thorough background check on financial professionals like brokers, brokerage firms, financial advisors, investment advisors, advising firms, etc. The detailed information provided through the BrokerCheck tool includes their employment history, certifications, licenses, and active or past violations within the last ten years so that you can make
Million Dollar Round Table (MDRT)
MARCH 16, 2023
By Matt Pais, MDRT Content Specialist So much of life is about perspective, and a successful advisor is an upbeat advisor. In his 2013 Annual Meeting presentation “Measuring what matters,” Ralph Antolino Jr., J.D., CLU, reiterates this by identifying nine secrets of ultra-happy people, many of which hinge on your outlook.
Advisor Perspectives
MARCH 16, 2023
February's ZHVI came in at $327,514, practically unchanged from January and up 6.76% from February 2022. After adjusting for inflation, the real figures are -0.71% month-over-month and -1.16% year-over-year.
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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.
MarketWatch
MARCH 16, 2023
Nikola Corp. NKLA said late Thursday it is moving its battery manufacturing from Cypress, Calif., to its Coolidge, Ariz., plant, with the move expected to be completed by April and “months ahead of the original schedule.” Expediting the move further shows a commitment to cost savings, as truck assembly, fuel-cell assembly, and battery production will all be under one roof, the company said.
Wealth Management
MARCH 16, 2023
Built on the back of its $271 billion wealth business, First Republic is in need of a rescue as its stock is down almost 80% since March 8.
MarketWatch
MARCH 16, 2023
Bank of America BAC , Citigroup C , JPMorgan Chase JPM and Wells Fargo WFC said Thursday they are each making $5 billion uninsured deposits as part of a $30 billion package from 11 banks into First Republic Bank FRC. The move “reflects their confidence in First Republic and in banks of all sizes,” the banks said in a joint statement. “It demonstrates their overall commitment to helping banks serve their customers and communities.
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