The Big Picture

AUGUST 10, 2023

A quick note on today’s BLS report on the Consumer Price Index (CPI), which rose 0.2% in July on a seasonally adjusted basis, Over the last 12 months, the CPI has increased 3.2%. Once again, the biggest part of the gains was for shelter. As I have noted before, the entity primarily responsible for rising home prices higher is the Fed. There are numerous ways to measure price increases, and I wanted to highlight a specific approach the BLS occasionally references: “The 16% trimmed-mea

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Abnormal Returns

AUGUST 10, 2023

Business Will the AI boom bail out San Francisco as a destination? (marketwatch.com) How Larry Fink, CEO of Blackrock ($BLK), became so demonized. (economist.com) Being an Airbnb ($ABNB) host is no longer easy money. (bloomberg.com) Cities When it comes to housing, supply and demand work. (nymag.com) How to make cities safe. (unchartedterritories.tomaspueyo.com) Environment Just how much have we already overfished the oceans?

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Nerd's Eye View

AUGUST 10, 2023

Financial advisors who have established and successfully built up their advisory firms over several years can often go through many stages of firm development, requiring them to hire staff and additional advisors to manage their growing clientele. When a firm becomes large enough, though, the firm owner may be compelled to consider stepping away from their long-standing work as a client-facing financial advisor into a more pronounced business leadership role to manage the growing business.

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Abnormal Returns

AUGUST 10, 2023

Markets The equity risk premium in the U.S. keeps falling. (economist.com) Blame Big Tech for the surfeit of tech IPOs. (klementoninvesting.substack.com) Charlie Bilello, "Calm markets don’t make great investors." (creativeplanning.com) Meme stocks How Hertz ($HTZ) became a blueprint for future meme stocks. (youngmoney.co) Reddit doesn't seem to be driving this round of meme stocks.

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Financial Advising Engineering Media Economy 185

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

AUGUST 10, 2023

The U.S. wealth business is still the sweet spot for CI Financial, growing earnings by nearly half as the firm continues integrating its acquired RIAs under the new Corient brand.

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Wealth Management

AUGUST 10, 2023

Brookfield Asset Management is aiming to raise $150 billion this year to take advantage of the buying opportunities it sees, reports The Wall Street Journal. Industry experts react to WeWork’s “going concern” warning and what it might mean for the already beleaguered office market. These are among the must reads from around the real estate investment world to end the week.

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Assets Management Investing Investments 98

Calculated Risk

AUGUST 10, 2023

From the MBA: Mortgage Delinquencies Decrease in the Second Quarter of 2023 The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 3.37 percent of all loans outstanding at the end of the second quarter of 2023 , according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey.

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Wealth Management

AUGUST 10, 2023

Marc Horner discusses how his leap to independence allowed him to think and act more creatively, connect with clients and prospects on a new level, and ultimately grow his business in ways he could not in the wirehouse world.

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Clients 98

Advisor Perspectives

AUGUST 10, 2023

Household debt increased by $16 billion (0.1%) to $17.06 trillion in Q2 2023. Credit card balances rose by $45 billion to a series high of $1.03 trillion. Meanwhile, student loan balances fell to $1.57 trillion while mortgage balances were largely unchanged at $12.01 trillion.

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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

AUGUST 10, 2023

The financial professionals joining Cetera in the aftermath of the deal represent about $50 billion in client assets, with one Cetera exec saying the deal marked the “beginning of a new phase” for the company.

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Calculated Risk

AUGUST 10, 2023

Here are a few measures of inflation: The first graph is the one Fed Chair Powell had mentioned when services less rent of shelter was up 7.6% year-over-year. This has fallen sharply and is now up 3.3% YoY. Click on graph for larger image. This graph shows the YoY price change for Services and Services less rent of shelter through July 2023. Services were up 5.7% YoY as of July 2023, from 5.7% YoY in June.

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Food Insurance Economics Accounting 95

Wealth Management

AUGUST 10, 2023

Institutional investors remain committed to the best-performing sectors, although there is some interest in newer subsectors, according to exclusive WMRE research.

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Advisor Perspectives

AUGUST 10, 2023

The Q Ratio is the total price of the market divided by the replacement cost of all its companies. The latest Q-ratio is at 1.56, up from June.

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Marketing Marketing 98

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

AUGUST 10, 2023

James Gorman, 65, is running Wall Street’s most closely watched horse race, vowing to have his successor at Morgan Stanley n place in less than a year.

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Alpha Architect

AUGUST 10, 2023

In this episode host Belle Osvath, CFP® talks with Dr. Wesley Gray the founder of ETF Architect and Alpha Architect, about how advisors can create their own ETFs which can be used to help manage client funds and taxes. They discuss the creation process, the cost, and what type of advisory practice would benefit the most from their own ETF. Wes Talks with Belle about Creating Your Own ETF was originally published at Alpha Architect.

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CFP Taxes Clients Management 81

Wealth Management

AUGUST 10, 2023

Four strategies to help those who have a large portion of their wealth tied up in the value of their business through the sales process and beyond.

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Sales 98

The Irrelevant Investor

AUGUST 10, 2023

Today’s Compound and Friends is brought to you by DWS: See here for more information on Xtrackers by DWS On today’s show, we discuss: Bridgewater culture The latest CPI reading Silver linings from inflation 1970s vs 2020s inflation Buying crypto hedge fund fueds Listen here: Charts: Recommendations: Jones Beach Amphitheater Animal Spirits Destination NBA This American Life Bob Elliot: The post The Compound and Friends: Unlimited Alpha appeared first on The Irrelevant Investor.

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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

AUGUST 10, 2023

A new analysis has calculated the potential reduction in payouts if politicians are unable to address the looming budget shortfall.

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Budgeting 98

Clever Girl Finance

AUGUST 10, 2023

Choosing to work in healthcare is a truly noble way to spend your working years. But over eight years of medical school and residency is a lot, leaving you to wonder if maybe you should find a profession that is less expensive (in both time and money) to get your foot in the door. Well, let’s delve into 20 high paying medical jobs without a degree!

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Medical Healthcare Certification Education 71

Wealth Management

AUGUST 10, 2023

Also, Two Sigma’s Venn launches Report Lab with help from NewEdge Wealth and ForwardLane rolls out Emerge.

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A Wealth of Common Sense

AUGUST 10, 2023

A reader asks: I’m 38 years old and for most of my adult life I didn’t make much money. I made just enough to survive with nothing left to invest. Everything changed a few years ago. I went from making $35k per year to around $140k in about 4 years. At first I spent everything, but in the last two years I’ve started doing the opposite.

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Investing Investments 72

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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

AUGUST 10, 2023

Four ways to help clients navigate uncertainty.

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Portfolio Management Marketing Marketing 98

Calculated Risk

AUGUST 10, 2023

Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Friday: • At 8:30 AM ET, The Producer Price Index for July from the BLS. The consensus is for a 0.2% increase in PPI, and a 0.2% increase in core PPI.

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Advisor Perspectives

AUGUST 10, 2023

The ADP employment report showed that 324K nonfarm private jobs were added in July, a slow down from the 455K jobs added last month. The latest figure is higher than the expected 189K new private jobs.

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Tobias Financial

AUGUST 10, 2023

In the ever-changing landscape of global economics, recent headlines have been dominated by Fitch Ratings’ decision to downgrade the United States’ long-term credit rating from AAA to AA+. This move raised questions and concerns, prompting us to address the news and what it means for you. In its statement, Fitch cited “expected fiscal deterioration over the next three years, erosion of governance, and a growing general debt burden” as reasons for the downgrade.

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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

Advisor Perspectives

AUGUST 10, 2023

Travel on all roads and streets increased in June. The 12-month moving average was up 0.3% month-over-month and was up 0.7% year-over-year. If we factor in population growth, the 12-month MA of the civilian population-adjusted data (age 16-and-over) was up 0.2% MoM and down 0.4% YoY.

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Calculated Risk

AUGUST 10, 2023

The DOL reported : In the week ending August 5, the advance figure for seasonally adjusted initial claims was 248,000 , an increase of 21,000 from the previous week's unrevised level of 227,000. The 4-week moving average was 231,000, an increase of 2,750 from the previous week's unrevised average of 228,250. emphasis added The following graph shows the 4-week moving average of weekly claims since 1971.

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Advisor Perspectives

AUGUST 10, 2023

The latest Chicago Purchasing Manager's Index (Chicago Business Barometer) rose to 42.9 in July from 41.5 in June. This is the eleventh straight month in contraction territory. This reading comes in below the forecast of 43.0.

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