Fri.Dec 02, 2022

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November Employment Report: 263 thousand Jobs, 3.7% Unemployment Rate

Calculated Risk

From the BLS : Total nonfarm payroll employment increased by 263,000 in November , and the unemployment rate was unchanged at 3.7 percent , the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in leisure and hospitality, health care, and government. Employment declined in retail trade and in transportation and warehousing. The change in total nonfarm payroll employment for September was revised down by 46,000, from +315,000 to +269,000, and the change for October was re

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2023 Toyota Prius

The Big Picture

It is amazing to think about how Toyota blew its enormous lead in Hybrid tech, failing to launch any substantial push into EVs. The chart below shows exactly how much sales have fallen for the first hybrid EV America has fallen into — and then out of love with. The Prius today badly lags the RAV4, its sister crossover, in Toyota hybrid sales. But the latest design is a handsome reboot, and should help sales pick up.

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Realtor.com Reports Weekly Active Inventory Up 53% Year-over-year; New Listings Down 17%

Calculated Risk

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 Nov 26, 2022. Note: They have data on list prices, new listings and more, but this focus is on inventory. • Active inventory continued to grow, increasing 53% above one year ago.

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November 2022: Stand Up with Pete

The Big Picture

This was a fun conversation with my buddy Pete about all the media madness these days — it was as I was recovering from C19, and while I felt fine, my voice sounds pretty gravelly. If you find that kind of thing tolerable, people seemed to really like this discussion. Lots more details here. Enjoy! The post November 2022: Stand Up with Pete appeared first on The Big Picture.

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2025 Industry Index: How Top Advisors Are Scaling Smarter (and Faster) This Year

Where are top advisors focusing in 2025? AcquireUp’s 2025 Industry Index reveals it all. Based on insights from 200+ financial professionals nationwide, discover why 74% say seminars and referrals deliver the best ROI, how automation is helping advisors scale faster, and why only 8% are tapping into niche marketing (a major growth opportunity!). Whether you're refining your client acquisition strategy or scaling your practice, this report gives you the real-world data, benchmarks, and action ste

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Comments on November Employment Report

Calculated Risk

The headline jobs number in the November employment report was above expectations, however employment for the previous two months was revised down by 23,000, combined. The participation rate decreased, and the unemployment rate was unchanged at 3.7%. Leisure and hospitality gained 88 thousand jobs in November. At the beginning of the pandemic, in March and April of 2020, leisure and hospitality lost 8.2 million jobs, and are now down 980 thousand jobs since February 2020.

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Advisor Group Tweaks Rep Pricing for 2023

Wealth Management

Advisor Group announced a series of changes to its pricing structure, including a new bundled affiliation fee and annual fee for directly held mutual fund positions.

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J.P. Morgan Wealth Management's New Path To 62M Chase Customers

Wealth Management

Wealth Plan, with its "Work with an advisor" icon, is now available for free on the Chase Mobile app and the bank's website.

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Weekend Reading For Financial Planners (Dec 3-4)

Nerd's Eye View

Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with a research study suggesting that the market volatility experienced in 2022 could increase demand for financial planning services. This increased demand could be particularly acute among younger investors (who might be experiencing an inflationary environment and sustained market downturn for the first time) and those nearing retirement (who might seek professional guid

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High-Net-Worth Philanthropy Trends By The Numbers

Wealth Management

These five findings provide a benchmark for affluent philanthropists and the advisors who support them.

Numbers 264
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Hotels: Occupancy Rate Down 0.5% Compared to Same Week in 2019

Calculated Risk

From CoStar: STR: US Hotel Performance Falls as Expected Over Thanksgiving Week Due to the Thanksgiving holiday, U.S. hotel performance came in lower than the previous week and showed mixed comparisons to 2019, according to STR‘s latest data through Nov. 26. Nov. 20-26, 2022 (percentage change from comparable week in 2019* • Occupancy: 50.4% (-0.5%) • Average daily rate (ADR): US$135.49 (+20.4%) • Revenue per available room (RevPAR): US$68.27 (+19.9%) *Due to the pandemic impact, STR is measurin

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Data Talks, CFOs Listen: Why Analytics Are Key To Better Spend Management

Speaker: Claire Grosjean, Global Finance & Operations Executive

Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.

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Cetera Shutters First Allied Registration, Brand

Wealth Management

Reps for First Allied Securities, the San Diego-based independent broker/dealer that's been in business since 1994, will integrate into sister company Cetera Advisors.

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Despite Strong Spending in October, GDPNow Forecast Took a Dive, Why?

Mish Talk

GDPNow data from Atlanta Fed, chart by Mish. Chart Notes The blue line is the base forecast. It is about all the public sees or hears about when the BEA releases its GDP report but it is not what matters most. The red line is Real Final Sales (RFS). That is the bottom line estimate for the economy and what does matter most. The yellow line is RFS to domestic buyers, the rest is exports.

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401(k) Real Talk Episode 43: December 2, 2022

Wealth Management

Open, honest and candid discussions about the latest news in the RPA industry.

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The Game Has Changed

The Reformed Broker

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Jeff deGraaf, and Downtown Josh Brown discuss trend following, valuation techniques, the dollar’s impact on the S&P, the cooling housing market, stocks vs bonds, the yield curve, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!

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What Your Financial Statements Are Telling You—And How to Listen!

Speaker: David Worrell, CFO, Author & Speaker

Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.

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Gary Gensler Says Crypto Investors Should Embrace SEC Regulation

Wealth Management

The Securities and Exchange Commission chair describes his philosophy of markets and regulation—and why he loves climbing mountains.

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Market Cap to GDP: Buffett Valuation Indicator

Advisor Perspectives

With the Q3 GDP Second Estimate and the November close data, we now have an updated look at the popular "Buffett Indicator" -- the ratio of corporate equities to GDP. The current reading is 149.2%, down from 155.7% the previous quarter.

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UBS’s Hassan to Take Charge of Americas Digital Wealth Teams

Wealth Management

Hassan will oversee the expansion of UBS’s digitally customized banking services, the build-out of wealth management’s digital capabilities, electronic strategy and platforms, and smart technologies and advanced analytics.

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Some Thoughts on Active vs. Passive, Bear Markets vs. Recessions, Inverted Yield Curves & Holiday Weight Gain

A Wealth of Common Sense

Some charts I came across this week along with some thoughts on each: The bear market is speeding up the move from active to passive: This trend has been in place for a while now but the bear market is accelerating things. It makes sense if you think about it in terms of a down year in the stock market where people with long-term gains are more willing to get out of a position to make a portfolio change.

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How to Avoid Pitfalls In Automation: Keep Humans In the Loop

Speaker: Erroll Amacker

Automation is transforming finance but without strong financial oversight it can introduce more risk than reward. From missed discrepancies to strained vendor relationships, accounts payable automation needs a human touch to deliver lasting value. This session is your playbook to get automation right. We’ll explore how to balance speed with control, boost decision-making through human-machine collaboration, and unlock ROI with fewer errors, stronger fraud prevention, and smoother operations.

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Michael Hunstad on Market Risk and Volatility

Wealth Management

Michael Hunstad, Ph. D. chief investment officer of global equities at Northern Trust Asset Management discusses how advisors can help clients manage market risk.

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Trend Following and Relative Sentiment: Complementary Factors

Alpha Architect

Since it is likely that both the Relative Sentiment and Trend Following strategies will underperform at some points in the future, “a 50-50 combination of TF and RS might reduce the emotional volatility an investor may experience from holding only the underperforming strategy.”. <strong>Trend Following and Relative Sentiment: Complementary Factors</strong> was originally published at Alpha Architect.

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Return Assumptions in Retirement Income Planning Software

Covisum

Lately, there have been a lot of conversations surrounding the current market state, and many retirees are worried about their investments. One of the most challenging aspects of financial planning is setting reasonable performance expectations. Of course, no one can predict the future, but the right financial planning software can help you make wise investment decisions based on available factors.

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Remember These Fashion Trends of the 60s & 70s?

Integrity Financial Planning

It’s no doubt that, when it comes to fashion, the 60s and 70s carried the most vibrant, electric trends. Your generation has made the largest footprint in the world of fashion, creating iconic and stylish clothing that, even today, still resurfaces and remains just as cool. You may have already noticed the unexpected return of bell bottoms and flowing attire through your kids or grandkids.

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Book of Secrets on the Month-End Close

Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.

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CPI and PCE: Two Measures of Inflation and Fed Policy

Advisor Perspectives

The BEA's Core Personal Consumption Expenditures Chain-type Price Index for October, released yesterday, shows that core inflation continues to be well above the Federal Reserve's 2% long-term target at 4.98%. The October Core Consumer Price Index release is currently higher, at 6.28%. The Fed is on record as using Core PCE data as its primary inflation gauge.

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Intel Severance Package: Your Complete Guide & Action Plan

Cordant Wealth Partners

During layoffs, Intel offers severance packages or voluntary separation packages (VSP) when cost reductions are a priority. Most recently, Intel announced layoffs impacting 11% of the workforce in the fall of 2022 with a plan to cut $3 billion in costs over the next year. If you’ve been offered a severance, layoff, or voluntary separation package at Intel, this guide will cover: The key components of the package.

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S&P 500 Snapshot: Mid-Week Rally

Advisor Perspectives

The S&P 500 rallied on Wednesday after the Fed announced it may slow its rate hikes as soon as its next meeting. The index was only up one out of five days this week, but is down 14.6% YTD and is 15.1% below its record close.

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NAIFA Trustee Aprilyn Chavez-Geissler Featured in Upcoming DEI Webinar

NAIFA Advisor Today

On December 6, NAIFA-National Trustee and Gateway Insurance and Financial Services Vice President Aprilyn Chavez-Geissler will be a featured speaker for the webinar "Beyond Sentiment: The Business Benefits of DEI," presented by Financial Planning magazine. The webinar will discuss how recent research can help you craft a strategy for diversity, equity, and inclusion (DEI) that is well-defined, driven by company leaders, and connected to business outcomes.

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Stop Falling Short When It Matters Most—The Elite Advisor’s Playbook to Success

Like being inches from the end zone, many advisors are frustratingly close to their next level of success. You work hard. You put in the hours. But if your closing rate is stuck or your pipeline feels like a revolving door… something has to change. Most advisors are just one small shift away from dramatically increasing their revenue. The difference?

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November Employment: 263K New Jobs, Beats Forecast

Advisor Perspectives

This morning's employment report for November showed a 263K increase in total nonfarm payrolls, which was above the Investing.com forecast of 200K jobs added. The unemployment rate remained at 3.7%.

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How Asset Allocation Impacts Your Portfolio

WiserAdvisor

When investors create an investment portfolio, they consider several factors, like risk, asset class, inflation, etc., to generate optimal returns on their investments. However, what is equally critical when it comes to creating a portfolio is asset allocation and selection. Asset allocation aims to balance risk and reward through a portfolio composition of different kinds of assets.

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What Advisors Don't Get About Brand Awareness

Advisor Perspectives

A would-be client’s journey to choosing a brand is complex. There are ample opportunities for them to be distracted.

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Another Strong Jobs Report? Phooey, and I Can Prove It

Mish Talk

Payroll and employment data from the BLS, chart by Mish. Today, the Bureau of Labor Statistics released its Monthly Payroll Report. Initial Thoughts The discrepancy between jobs and employment continues for the eighth month. Lost in the unemployment and jobs headline noise are huge divergences between jobs and employment dating back to March. Payrolls vs Employment Since March 2022 Nonfarm Payrolls: +2,692,000 Employment Level: +12,000 Full Time Employment: -398,000 Employment fell by 138,000 in

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Demo SkyStem’s Award Winning Month-End Close Solution & Earn $100

Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.