Mon.Jun 10, 2024

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Adviser links: true wisdom

Abnormal Returns

Podcasts Barry Ritholtz talks with Peter Mallouk, president and CEO of Creative Planning LLC. (ritholtz.com) Joel Weber and Eric Balchunas talk with Silla Brush about Salim Ramji the new CEO of Vanguard. (bloomberg.com) Daniel Crosby talks advisor marketing with Robert Sofia who is the CEO of Snappy Kraken. (standarddeviationspod.com) Frazer Rice talks with David Barnard, CEO and Founder of Luminary, about technology and estate planning.

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Summer Reading List Of “Best Books” For Financial Advisors – 2024 Edition

Nerd's Eye View

The first half of 2024 has been a solid start for most advisory firms, with markets enjoying moderate growth (a pleasant follow-through after a particularly strong 2023!), client retention rates remaining robust, and at least a bit of client referral growth trickling in. Which is leading to healthy profit margins at the typical advisory firm, as more and more advisors eye the possibility that AI will produce even more business efficiencies (and stronger profitability) in the year to come.

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Monday links: no exceptions

Abnormal Returns

Markets The S&P 500 is getting three new members. (reuters.com) The VIX is quiescent, but individual stocks are bouncing around. (wsj.com) The rest of the world does not have the Magnificent Seven. (mrzepczynski.blogspot.com) Strategy Fixed income comes with its own set of decisions. (awealthofcommonsense.com) Why it is counterproductive to look at your portfolio too often.

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Market Commentary: The Summer Rally Continues Amid Strong Job Gains

Carson Wealth

The Summer Rally Continues Another week and more new highs for the S&P 500. As we’ve noted before, summer rallies are actually quite normal in an election year and we didn’t think this year would be any different. In fact, the three summer months are up more than seven percent on average in an election year and higher more than 75% of the time, the best out of any three-month period.

Marketing 143
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How to Navigate Revenue and Expense Management: Competitive Insights for Financial Success

Speaker: Hilary Akhaabi, PhD - Founder, Chief Financial & Operations Officer at Go Africa Global

In the fast-paced world of corporate finance, staying ahead of the curve is crucial for sustainable growth and profitability. This exclusive webinar with leading expert Hilary Akhaabi, PhD, will teach you practical ways to navigate complex financial landscapes and enhance your company's revenue management capabilities. Whether you're aiming to refine your financial strategies or seeking innovative solutions to drive performance, this new session is for you!

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Q1 Update: Delinquencies, Foreclosures and REO

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: Q1 Update: Delinquencies, Foreclosures and REO A brief excerpt: We will NOT see a surge in foreclosures that would significantly impact house prices (as happened following the housing bubble) for two key reasons: 1) mortgage lending has been solid, and 2) most homeowners have substantial equity in their homes.

More Trending

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Multiple Jobholders Account for 5.2% of All Employed

Advisor Perspectives

Multiple jobholders account for 5.2% of civilian employment. The survey captures data for four subcategories of the multi-job workforce, the relative sizes of which we've illustrated in a pie chart.

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YourStake To Provide AI-Powered APIs To Apex Fintech Solutions

Wealth Management

The Document-to-Portfolio tool aims to allow users to upload images or PDF files of account statements from brokerages and banks, automatically populate account transfer details and receive real-time financial analysis.

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Is Diversification Dead?

Random Roger's Retirement Planning

The title of today's post is essentially the question asked in a Bloomberg Article ( syndicated at Yahoo ). The TLDR is that broad diversification has lagged behind simple market cap weighting for the last 15 years. I am guessing they chose that timeframe to coincide with the March 2009 bottom. We've talked just a couple of times about the market becoming increasingly concentrated which just in terms of math means that a diversified strategy will lag for as long as the big names do well.

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Non-traded REITs Tinker with Liquidity Features to Address Redemption Requests

Wealth Management

Industry analysts view KKR's and Starwood's recent moves to respond to redemption requests on their non-traded REITs as positive for shareholders.

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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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7 Steps to Streamline Your Employee Experience and Help Your Advisory Firms Grow

XY Planning Network

In the dynamic world of advisory firms, the relentless pursuit of operational efficiency and superior client service continues unabated. Recent surveys conducted by our team at Hubly reveal that many firms prioritize "team accountability" above significant concerns such as workflows for money movements, financial planning, or client onboarding. This raises questions about whether these findings reflect broader management trends in advisory firms or point to deeper systemic issues.

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Cetera Hires Fidelity Exec as Head of Advanced Wealth

Wealth Management

Former Fidelity Investments Life Insurance Company President Jerry Patterson will lead Cetera’s retirement, insurance and annuities segment.

Insurance 111
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"Mortgage Rates Slightly Higher to Start Pivotal Week"

Calculated Risk

From Matthew Graham at Mortgage News Daily: Mortgage Rates Slightly Higher to Start Pivotal Week The event calendar ramps up quickly from here and Wednesday will be the most important day of the month due to the release of pivotal inflation data and an updated rate announcement and outlook from the Fed. While there's no chance of a rate cut or hike at this meeting, we should get more clarity on the Fed's interpretation of the very latest trends in inflation. [ 30 year fixed 7.17% ] emphasis adde

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ETF Launches Surged in May

Wealth Management

After a relatively quiet April, asset managers cranked up the pace of launches in May with 50 new funds hitting the market.

Assets 115
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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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Talk Your Book: Utilizing Dividends for Income

A Wealth of Common Sense

Today’s Talk Your Book is sponsored by Franklin Templeton On today’s show, we spoke with Chris Floyd, VP and Portfolio Manager for Franklin Templeton Investment Solutions to discuss the Franklin US Low Volatility High Dividend Index ETF On today’s show, we discuss: How rates affect dividend payers Fund-specific rules and objectives Looking at REITs as an income driver Why blue-chip companies continue t.

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AI Startup for Advisors Jump Announces $4.6M in Funding

Wealth Management

The AI assistant records meeting notes and turns them into automated actions from generating client communications to plan changes.

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U.S. Workforce Analysis: May 2024

Advisor Perspectives

Our monthly workforce analysis has been updated to include the latest employment report for May. The unemployment rate inched up to 4.0%, its highest level since January 2022, and the number of new non-farm jobs (a relatively volatile number subject to extensive revisions) came in at 272K.

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U.S. Supreme Court Rules Insurance Proceeds Included in Estate

Wealth Management

Corporation redemption obligation isn’t a liability that reduces the value of the decedent’s shares

Insurance 113
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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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Asset Location

Financial Symmetry

Did you know what account you place your investments in can make a meaningful difference in taxes over your investing lifetime? This is called asset location, and Vanguard has found that it can save you up to 0.60% annually in … Continued The post Asset Location appeared first on Financial Symmetry, Inc.

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This Current Wave of Inflation Is Not Transitory. The First Wave Was.

Advisor Perspectives

The next inflation wave will challenge the economy and the Fed. It will not be transitory. A pivot back toward a zero interest rate policy (ZIRP) will intensify the problem.

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Is the 401(k) Industry Entering a ‘Second’ Golden Age?

Wealth Management

Victory belongs to the most tenacious.

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World Markets Watchlist: June 10, 2024

Advisor Perspectives

All eight of the indexes on our world watch list have posted gains through June 10, 2024. Tokyo's Nikkei 225 finished in the top spot with a YTD gain of 16.66%. The U.S.'s S&P 500 finished in second with a YTD gain of 13.03% while Hong Kong's Hang Seng finished in third with a YTD gain of 9.40%.

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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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NAIFA Advocacy Webinar: 'Tax Reform Priorities and Politics'

NAIFA Advisor Today

Major federal tax legislation is all but certain to be coming from Washington, D.C., in 2025. Many provisions from the 2017 Tax Cuts and Jobs Act (TCJA) are set to expire at the end of next year and Congress will need to address the situation. This NAIFA advocacy webinar will give you a better understanding of what is being dubbed the "Super Bowl of Tax" and provide insights into some of the proposals likely to shape the debate.

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Broader Tech Rally Hangs on Fed Getting Closer to Cutting Rate

Advisor Perspectives

A broad equity rally isn’t spilling over into the technology sector, where gains are still concentrated in just a few artificial intelligence winners that have become defensive plays amid an uncertain macroeconomic backdrop.

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June Market Valuation Update

Validea

Here is the latest update for June from Validea’s market valuation tool. Rather than focusing on market-cap weighted indexes like the S&P 500, our tool focuses on the valuation of the average stock relative to history. We use the median of our investable universe of 2700 stocks to perform the calculation. While the valuation of the median stock has been rising in recent months, it remains middle of the road relative to history based on the TTM PE Ratio.

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Climbing the Fed Funds Rates Incline

Advisor Perspectives

The macroeconomic environment since the Federal Reserve began their most recent hiking cycle has been like a challenging, high altitude, steep-gradient climb in a cycling race.

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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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Weekly Market Insights – June 10, 2024

Cornerstone Financial Advisory

Weekly Market Insights: Solid Week Despite Mixed Reports Presented by Cornerstone Financial Advisory, LLC Stocks rose last week despite conflicting stories from economic reports. The Dow Jones Industrial Average inched up 0.29 percent while the Standard & Poor’s 500 Index powered ahead 1.31 percent. The Nasdaq Composite led, picking up 2.38 percent.

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Will Taking Social Security Early Leave Retirement Income On The Table?

Advisor Perspectives

What’s the best age to start taking Social Security? That is a frequently asked question for financial advisors. It’s also, as any financial advisor will admit, completely unanswerable without significantly more information. Social Security is too inherently complex for one-size-fits-most recommendations.

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5 Relatable Analogies to Explain the Perils of Market Timing to Clients

Don Connelly & Associates

Let's face it: Most people are lousy timers. Think about the last time you switched to the shortest line at the grocery checkout. That feeling of smugness turns to scorn when the line crawls to a halt while the longer lines churn through. Or, when you constantly switch to the fast-moving lane on the freeway only to watch a long river of red brake lights stretch out in front of you.

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