The Big Picture

DECEMBER 7, 2023

My morning train WFH reads: • How much should it cost to sell a house? Your real estate agent may be charging too much. Why should homebuyers and sellers pay for services they neither want nor use? It’s like being forced to pay a travel agent commission when booking a flight directly online. ( USA Today ) • Signs of a Weakening Job Market, in Five Charts : Openings and quits data could give clues to the direction of hiring and the economy. ( Wall Street Journal ) see also Pay Thousands to

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Retail Commission Economy Accounting 238

Abnormal Returns

DECEMBER 7, 2023

Books An excerpt from "The Kingdom, The Power, and The Glory: American Evangelicals in an Age of Extremism" by Tim Alberta. (politico.com) A Q&A with Sam Wasson author of the new book "The Path to Paradise: A Francis Ford Coppola Story." (insidehook.com) Venture capital No one should be surprised by the drama surrounding OpenAI after learning about its origins.

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The Big Picture

DECEMBER 7, 2023

I’m very excited to tell you about my new podcast: At the Money. Each week, we are going to spend 10 minutes diving into a specific topic that affects you and your money: Acquiring it, spending it, and most of all, investing it. My experience as an investor is just the starting point for ATM: I am tapping into a network of experts I have developed over decades across a wide range of fields to discuss everything from taxes to portfolio construction, differences between skill and luck, how t

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Investing Investments Portfolio Management 152

Abnormal Returns

DECEMBER 7, 2023

Rates 10-year Treasury yields are down nearly 100bp from their peak. (axios.com) 30-year mortgage rates have dropped from 8% back to 7%. (housingwire.com) Companies P&G ($PG) is still writing down the value of Gillette. (wsj.com) What phrases and words companies stood out in conference calls in 2023? (ft.com) VC SimpleClosure, a start-up that helps other start-ups wind down their operations, is doing a booming business.

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Digital Media Electronics Financial Advising Startup 207

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.

Accounting

Wealth Management

DECEMBER 7, 2023

Firms ranging from Morgan Stanley and Raymond James to LPL Financial and Cetera Financial Group decried state regulators’ proposals, but non-profit law clinics representing small investors said NASAA was on the right track.

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Wealth Management

DECEMBER 7, 2023

A final rule meant to “standardize” climate-related disclosures for issuers could also come in the spring, according to the White House Office of Management and Budget.

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Budgeting Management 113

Advisor Perspectives

DECEMBER 7, 2023

Pop Quiz! Without recourse to your text, your notes, or a Google search, what line item is the largest asset in Uncle Sam's financial accounts? A) U.S.

Accounting 119

Accounting Assets Taxes 119

Wealth Management

DECEMBER 7, 2023

As of the first week of December, exchange-traded-fund issuers had liquidated or delisted 234 products in 2023. That compares with 159 closures last year and just 72 in 2021.

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A Wealth of Common Sense

DECEMBER 7, 2023

A reader asks: Sure it’s great the S&P 500 is up 20% this year but aren’t we just pricing in the inevitable Fed rate cuts in 2024? Should we really expect the market to go up again next year after surprising to the upside this year? Color me skeptical. Full disclosure: I’m naturally bearish and take a bit of an anti-Ben stance about the markets.

Marketing 109

Marketing Marketing 109

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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.

Banking

Wealth Management

DECEMBER 7, 2023

Insights from Fidelity's Bill Maclay on identifying growth-driven properties, emphasizing free cash flow, and navigating opportunities in Commercial Mortgage Backed Securities (CMBS) and private lending in today's market.

Investing 107

Investing Investments Marketing Marketing 107

The Irrelevant Investor

DECEMBER 7, 2023

Today’s Compound and Friends is brought to you by Dimensional Fund Advisors ETFs: Visit Dimensional.com for more information on investing with Dimensional Fund Advisors On today’s show, we discuss: Oxfords 2023 word of the year Mcdonald’s to open first CosMcs spinoff restaurant this week Wall Street’s 2024 outlook for stocks Should you T-Bill and Chill?

Investing 79

Investing Investments 79

Wealth Management

DECEMBER 7, 2023

What motivated this $1.6B multi-generational Wells Fargo team to leave the wirehouse world for supported independence with a relatively unknown broker/dealer?

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Calculated Risk

DECEMBER 7, 2023

From Manheim Consulting today: Wholesale Used-Vehicle Prices Decrease in November Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased 2.1% in November from October. The Manheim Used Vehicle Value Index (MUVVI) dropped to 205.0, down 5.8% from a year ago. “While November’s decline was only slightly less than October’s, the move lower was on our radar, given the typical seasonal downward trend that paused in August and September,” said Chris Frey, senior mana

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Consulting Economics Sales Management 73

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.

Financial Advice

Wealth Management

DECEMBER 7, 2023

The collaboration between Hamilton Lane and TIFIN to build a private markets digital assistant gets funding from Venture capital firm FINTOP Capital.

Marketing 111

Marketing Marketing 111

Advisor Perspectives

DECEMBER 7, 2023

Homebuyers have suffered some severe whiplash in recent months. After all, when mortgage rates hit 8% in late October, it was reasonable to think the housing market would stay on ice throughout the winter.

Marketing 98

Marketing Marketing 98

Wealth Management

DECEMBER 7, 2023

Under its minority investment model, Summit will provide cash, equity and exclusive privileges to Prostatis Financial Advisors Group.

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Financial Advisor Investing Investments 117

Calculated Risk

DECEMBER 7, 2023

The Federal Reserve released the Q3 2023 Flow of Funds report today: Financial Accounts of the United States. The net worth of households and nonprofits fell to $151.0 trillion during the third quarter of 2023. The value of directly and indirectly held corporate equities decreased $1.7 trillion and the value of real estate increased $0.5 trillion. Household debt increased 2.5 percent at an annual rate in the third quarter of 2023.

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Nonprofit Assets Accounting 66

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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.

Banking

Wealth Management

DECEMBER 7, 2023

Toronto-based Wealthsimple has grown rapidly, with assets rising about 10-fold to C$25 billion since 2018, thanks in part to slick advertising and some Hollywood star power — celebrities Drake, Michael J. Fox and Ryan Reynolds are among its minority investors.

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Assets Advertising 93

Calculated Risk

DECEMBER 7, 2023

Today, in the Real Estate Newsletter: The "Home ATM" Mostly Closed in Q3 Excerpt: During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined.

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Sales Accounting 66

Wealth Management

DECEMBER 7, 2023

Ernst & Young’s Cory McCruden shares how generative AI is revolutionizing the financial advisory industry.

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Advisor Perspectives

DECEMBER 7, 2023

In the week ending December 2, initial jobless claims were at a seasonally adjusted level of 220,000, an increase of 1,000 from the previous week's revised figure. The latest reading is lower than the forecast of 222,000.

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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!

Accounting

Wealth Management

DECEMBER 7, 2023

Payment for order flow allows brokerages and big traders to team up against the little guy.

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Calculated Risk

DECEMBER 7, 2023

Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Friday: • At 8:30 AM ET, Employment Report for November. The consensus is for 200,000 jobs added, and for the unemployment rate to be unchanged at 3.9%. • At 10:00 AM, University of Michigan's Consumer sentiment index (Preliminary for December).

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Wealth Management

DECEMBER 7, 2023

Franklin Tsung, CEO at Future Advice, on maximizing Salesforce for financial advisors.

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Financial Advisor Clients 111

Calculated Risk

DECEMBER 7, 2023

On Friday at 8:30 AM ET, the BLS will release the employment report for November. The consensus is for 200,000 jobs added, and for the unemployment rate to be unchanged at 3.9%. There were 150,000 jobs added in October, and the unemployment rate was at 3.9%. From BofA economists: "Nonfarm payroll employment likely rose by 200k in November following a 150k increase in October.

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Manufacturing Numbers Government 63

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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.

Communication

Wealth Management

DECEMBER 7, 2023

It’s too easy for managers to earn performance bonuses now that interest rates have risen.

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Management 105

Random Roger's Retirement Planning

DECEMBER 7, 2023

When we look at different strategies or market segments, I'll often say something like I want this to work but. and of course the point that matters comes after the but. And frequently the but is that it doesn't really work as hoped for or maybe the return is good but some purported diversification benefit doesn't quite deliver. Part of the process for me is to explore ideas and not give up trying to learn more about an idea because with more enlightenment and more study maybe something can make

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Portfolio Management Clients Marketing 65

Wealth Management

DECEMBER 7, 2023

The yellow metal has become untethered from financial fundamentals.

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