Wed.Nov 02, 2022

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Globalization In Retreat

The Big Picture

While the FOMC was doing its thing (more on that tomorrow), I stumbled across the fascinating chart above from PIIE. They note: Economic integration rebounded after the Second World War and continued to increase for the latter half of the 20th century. An embrace of economic liberalization saw the removal of trade barriers in large emerging markets and led to unprecedented levels of international economic cooperation, peaking in 2008 at 60.1 percent.

Economics 293
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Wednesday links: sub-optimal portfolios

Abnormal Returns

Strategy Investing is ultimately based on optimism. (fortunesandfrictions.com) Medical knowledge builds on itself. Financial knowledge not so much. (collabfund.com) Five arguments against a value stock revival. (blog.validea.com) Companies CVS and Walgreen's are likely to walk away from the opioid crisis without admitting culpability. (statnews.com) Men now make up 25% of Lululemon's ($LULU) revenue.

Portfolio 218
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Upfront And Ongoing RIA Compliance Obligations Of State Vs SEC-Registered Investment Advisers

Nerd's Eye View

In the United States, Registered Investment Advisers (RIAs) are required to register in one of 2 ways: with the Federal government (namely the SEC) or with one (or more) state securities regulatory agencies. While SEC-registered RIAs are governed by the Investment Advisers Act of 1940 (and its associated regulations), state-registered RIAs are subject to the individual rules of the states (which have their own securities laws and regulations) where they are registered.

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Personal finance links: yesterday’s news

Abnormal Returns

Morgan Housel Derek Thompson talks with Morgan Housel about what investing is for. (theringer.com) Christine Benz and Jeff Ptak talks with Morgan Housel about money and storytelling. (morningstar.com) Investing Diversification allows you to not have to make big bets. (awealthofcommonsense.com) On the siren's song that is stock picking. (bestinterest.blog) Why banks don't necessarily offer their existing clients the best CD rates.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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Three Things I Think I Think – Changing My Mind

Pragmatic Capitalism

The last few years have been jarring in numerous ways. They’ve also forced me to reconsider how I help people navigate the financial world.

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More Trending

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Four Reasons to Consider Adding Retirement Plan Servicing to Your Practice

Wealth Management

Given the difficult market conditions over the past year and increasingly competitive financial planning landscape, 2023 may be the right time to consider building out your firm’s offerings.

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Revisiting the Case Against Value Investing

Validea

By Jack Forehand, CFA, CFP® ( @practicalquant ) —. I have always been a big believer in value investing. The idea of buying companies at discounted prices has always resonated with me. And the fact that academic research supports value has given me all the reason I need to take that personal belief and translate into my investing approach. But believing strongly in something often puts us at risk as investors because it can blind us to the arguments on the other side.

Investing 119
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HVS: Q3 2022 Homeownership and Vacancy Rates

Calculated Risk

The Census Bureau released the Residential Vacancies and Homeownership report for Q3 2022. The results of this survey were significantly distorted by the pandemic in 2020. This report is frequently mentioned by analysts and the media to track household formation, the homeownership rate, and the homeowner and rental vacancy rates. However, there are serious questions about the accuracy of this survey.

Numbers 116
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Choreo Makes M&A Debut With Acquisition of $1.8B Enso Wealth Management

Wealth Management

Choreo, the Parthenon Capital-backed RIA created earlier this year from the liftout of RSM's wealth business, is acquiring Enso Wealth Management in its first deal since becoming a standalone company.

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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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FOMC Statement: Raise Rates 75 bp; "Ongoing increases appropriate"

Calculated Risk

Fed Chair Powell press conference video here or on YouTube here , starting at 2:30 PM ET. FOMC Statement: Recent indicators point to modest growth in spending and production. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher food and energy prices, and broader price pressures.

Economics 104
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Property Management, and Global Networks, Can Bring Opportunities to South Africa, Ukraine

Wealth Management

Earlier this year, I was among representatives from IREM headed for the National Association of Realtors’ 2022 Eastern European Real Estate Summit in Bucharest. The event was attended by real estate professionals from countries that brought into stark relief the industry need to travel and how much we can help.

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Fed's Powell: "Ultimate level of interest rates will be higher than previously expected"

Calculated Risk

A quick note. this was the key sentence from Fed Chair Powell's press conference: "the ultimate level of interest rates will be higher than previously expected". Powell also said that "At some point it will be appropriate to slow the rate of increases", but he said that might be in December or in 2023. Overall his comments were hawkish.

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11 Must Reads for the CRE Industry Today (Nov. 3, 2022)

Wealth Management

David Simon defended the future of physical retail real estate in the firm’s third quarter call. IKEA filed a cease and desist letter against a software developer that has built a survival horror video game set in an IKEA¬-like furniture store. These are among today’s must reads from around the commercial real estate industry.

Retail 95
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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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ADP: Private Employment Increased 239,000 in October

Calculated Risk

From ADP: ADP National Employment Report: Private Sector Employment Increased by 239,000 Jobs in October; Annual Pay was Up 7.7% Private sector employment increased by 239,000 jobs in October and annual pay was up 7.7 percent year-over-year, according to the October ADP® National Employment ReportTM produced by the ADP Research Institute® in collaboration with the Stanford Digital Economy Lab (“Stanford Lab”).

Economy 83
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Episode #453: Whitney Baker on Why “Immaculate Disinflation” is an Illusion

Meb Faber Research

Episode #453: Whitney Baker on Why “Immaculate Disinflation” is an Illusion Guest: Whitney Baker is the founder of Totem Macro, which leverages extensive prior buyside experience to create unique research insights for an exclusive client-base of some of the world’s preeminent investors. Previously, Whitney worked for Bridgewater Associates as Head of Emerging Markets and for Soros […].

Clients 76
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Hubly Rolls Out Automatic Task Assignment Features

Wealth Management

Officially called Service Teams, the new features are meant to improve efficiency through automation using CRM data.

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Here is what the Fed should do

David Nelson

David joins Fox Business anchor Charles Payne to discuss the Fed’s upcoming rate decision.

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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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Gensler’s Warning to Market Players: SEC’s Crackdown Is Just Getting Started

Wealth Management

SEC Chair Gary Gensler told securities lawyers on Wednesday that his agency would continue to pursue violations wherever and however they occur.

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Do you want to be accessible, relevant, and visible in 2023?

Leading Advisor

Did Covid make you feel inaccessible, irrelevant, and invisible in 2020-2022? Has the new world economic disorder compounded how you may be feeling about being… The post Do you want to be accessible, relevant, and visible in 2023? appeared first on Leading Advisor - Simon Reilly.

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The 20 ETFs with the Best Three-Year Returns

Wealth Management

Oil, gas and energy ETFs posted the best returns over the last three years.

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Investors pivot to value stocks amid tech rout

Nationwide Financial

With the 3rd Quarter earnings season underway, the recent rout in big technology stocks bolsters the bearish thesis of 2022. The tech sector faces fierce headwinds from a strong dollar, compressing margins, and weaker advertising growth, which is often considered a leading indicator of recessionary headwinds. Over the past several years, many of the largest tech stocks – think Alphabet/Google, Apple, Amazon, Meta Platforms/Facebook, and Microsoft – have rewarded investors with lofty

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Quick Start Guide to a Crystal Clear Close

Did you know automating your month-end close can save up to 40% of the time typically spent on manual reconciliations? CFOs and controllers are leveraging SkyStem's workflow management and reconciliation tool to eliminate costly mistakes, ditch manual reconciliations and close faster. Want to know how they do it? Download our Quick Start Guide to a Crystal Clear Close!

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SEC's Vision for Competition in Markets Would Stifle Innovation

Wealth Management

We are living in an era of radical new financial concepts, and cookie-cutter regulation only reduces choices by investors, businesses and intermediaries.

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Financial planner software for Advisors ready to enter the digital age

Conneqtor

Over a century ago, Emmert Wolf wrote that “a man is only as good as his tools” This remains true to this very day. If you’ve ever tried to fix something in your house and not had the right tools for the job, you know how frustrating and time consuming it can be!

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At IMPACT 2022, Schwab Is Asking for Patience and Making Promises

Wealth Management

As RIA custodians Schwab and TD Ameritrade come together, advisors want to know what to expect.

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What Football and Retirement Planning Have in Common

Integrity Financial Planning

Now that we are in the heart of football season, what can we learn from the game? Coach Brian is here to guide you through what you need to know when it comes to your financial plan. We compare different football analogies to retirement planning to help you understand where you’re headed and find out if you’re making the right decisions. But first, we answer some questions from the mailbag.

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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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Opendoor Lays Off 18% of Workers in Wave of Housing Cutbacks

Wealth Management

The cuts come after an abrupt shift in prices forced the company to sell homes for less than it paid for them.

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Thursday: Unemployment Claims, Trade Deficit, ISM Services

Calculated Risk

Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Thursday: • At 8:30 AM ET, The initial weekly unemployment claims report will be released. The consensus is for an increase to 222 thousand from 217 thousand last week. • Also at 8:30 AM, Trade Balance report for September from the Census Bureau. The consensus is for the deficit to be $72.1 billion in September, from $67.4 billion in August. • At 10:00 AM, the ISM Services Index for October.

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New ‘Prosperity Index’ Ranks US States on More Than Just Money

Wealth Management

The Milken Center's first major research project combines data on health, safety, personal freedom and other categories, with Massachusetts coming out on top.

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