Tue.Feb 20, 2024

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Research links: incremental risks

Abnormal Returns

Private equity Why niche private equity strategies outperform. (institutionalinvestor.com) Why private equity managers tilt toward bigger, safer investments. (klementoninvesting.substack.com) Elite college endowments have outperformed for one reason - taking on more risk. (institutionalinvestor.com) Research The straightforward case for the low volatility effect.

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#FA Success Ep 373: Transitioning To Launch A New RIA By Taking On Passive Investors For Startup Capital, With Ben Hockema

Nerd's Eye View

Welcome back to the 373rd episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Ben Hockema. Ben is the Founder of Illuminate Wealth Management, an RIA based in Barrington, Illinois that oversees $100M in assets under management for 55 client households. What's unique about Ben, though, is that he spent 13 years successfully working his way up the career track at a growing advisory firm, starting as an intern and eventually making partner… only to realize within

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Single Family Built-for-Rent Almost Doubled Since 2020

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: Single Family Built-for-Rent Almost Doubled Since 2020 A brief excerpt: Along with the monthly housing starts report for January released last week, the Census Bureau also released Housing Units Started by Purpose and Design through Q4 2023. The first graph shows the number of single family and multi-family units started with the intent to rent.

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Your 401(k) Will Be Gone Within a Decade

Advisor Perspectives

If you are among the 56% of US workers with a retirement plan, I have some bad news for you: Your 401(k) will be gone in 10 years, tops. Not the money, thank goodness — Americans have trillions of dollars in these accounts, and there is an entire industry built around them — but the plans themselves.

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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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Wednesday: FOMC Minutes, Architecture Billings Index

Calculated Risk

From Matthew Graham at Mortgage News Daily: Mortgage Rates Modestly Lower To Start The Week Most mortgage lenders set rates for the first time this week on Tuesday (today) due to yesterday's holiday. In the bigger picture, rates are still very close to their highest levels in more than 2 months following a series of higher inflation readings last week. [ 30 year fixed 7.11% ] emphasis added Wednesday: • At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortga

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Self-Declared Benchmarks and Fund Manager Intent: “Cheating” or Competing?

Alpha Architect

The paper aims to provide insights into the dynamics of benchmark selection, the effectiveness of Relative Performance Evaluation ( RPE ) incentivization, and the broader implications for fund performance and market competition. Self-Declared Benchmarks and Fund Manager Intent: “Cheating” or Competing? was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.

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Carolyn Armitage Launches Consulting Firm for Wealth Management CEOs

Wealth Management

Armitage, who was laid off from Thrivent as part of a larger reorganization of the wealth management business, will bring her expertise to wealth management CEOs.

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Market Commentary: Late February Bumps are Normal

Carson Wealth

Welcome to Late February The S&P 500 fell slightly last week, and it’s fair to say the market was due. The shift comes on the heels of the index being higher 14 out of 15 weeks while gaining more than 20% over that period for the first time in history. In other words, a pause is perfectly normal. Stocks fell slightly last week, but after the S&P 500 gained more than 20% in 15 weeks, consolidation is to be expected.

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Adjusted for Risk: Opportunities Await Advisors to Enhance Client Relationships Through Security and Privacy

Wealth Management

BUNKR co-founder and CEO Kurt Long talks about the evolution of the wealth management space and how the relationship between advisor and client is becoming tighter.

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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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Don’t forget to prospect close to home

Million Dollar Round Table (MDRT)

By Jack Stone, Cert PFS When I joined this profession, I was told to prepare a list of names to contact as prospects, and my friends and family should be on the list. I was reluctant, however, to include people close to me who I cared about, because I didn’t want to upset my special relationships with them and I feared rejection. Instead, I scoured around to find people who would buy my message, my service and my products.

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Court Gives Go-Ahead for Edelman’s Suit Against Mariner Wealth

Wealth Management

A Kansas federal judge said there was some overlap between the litigation and arbitration against former Edelman advisors who left for Mariner, but it wasn’t “significant enough” to justify a pause in the case.

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Stealth Wealth: 11 Ways To Leverage The Secrets Of The Wealthy

Clever Girl Finance

Do you know someone who takes the bus to work, makes their own lunches, and never takes luxurious vacations? Or perhaps you have a neighbor who lives in a modest house, drives an average car, and cuts their own grass? We all know people like this, and we might even be people like this who’ve achieved stealth wealth! Table of contents Stealth wealth meaning Expert tip: Follow your own path to achieve stealth wealth What is meant by stealth wealth?

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JPMorgan's Exit From Climate Group Sparks 'Greenhushing' Debate

Wealth Management

After the bank’s asset-management arm said it was leaving Climate Action 100+, investors are questioning if this means money managers are growing fearful of anti-ESG backlash.

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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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The Solution For Too Much Screen Time

A Wealth of Common Sense

A couple of weeks ago middle age got the best of me while giving my initial read on the new Apple Vision Pro. The TL;DR version is I think it’s bullish for Apple but bearish for humanity because it just means more time with a screen and less time with other people. Derek Thompson provided some more ammo for my take in a recent piece on the fact that young people aren’t hanging out as much anymore: From 2003 to.

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Wealth Management Invest Podcast: How Alternative Investments Benefit Portfolios

Wealth Management

Aaron Filbeck, who leads UniFi by CAIA, delves into how the CAIA association contributes to the education surrounding alternative investments.

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Animal Spirits: The Fed Should Cut Already

The Irrelevant Investor

Today’s Animal Spirits is brought to you by YCharts: See here for more information on YChart’s Advisor Pulse newsletter On today’s show, we discuss: Why Americans suddenly stopped hanging out Pods, passive flows, and punters What’s driving the stock market returns? Why not 100% equity? These teenagers know more about investing than you do Young adults are getting used to living on a financial cliff .

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What's Driving Gold's Performance in 2024

Wealth Management

All eyes are on the Federal Reserve and the timing of rate cuts.

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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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CB Leading Economic Index: No Longer Forecasting Recession

Advisor Perspectives

The Conference Board Leading Economic Index (LEI) fell for a 22nd consecutive month in January as the LEI continues to signal headwinds to economic activity in the U.S. However, for the first time in the past two years, the index is no longer forecasting a recession in 2024. The index dropped 0.4% from last month to 102.7, the index's lowest reading since May 2020.

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How AdvisorEngine and Schwab Help Scale Operations

Wealth Management

AdvisorEngine announces it's the first company to complete an integration with the new Schwab iRebal® platform.

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A Practical Application Of Return Stacking?

Random Roger's Retirement Planning

Corey Hoffstein from ReturnStacked ETFs and Newfound wrote a quick blog post to support the ReturnStacked Global Stock & Bonds ETF (RSSB). RSSB leverages up to offer 100% exposure to both equities and bonds. The following graphic from his post pretty much sums up the argument. The free 10% can go toward maybe adding potential alpha or helping to smooth out the ride or whatever else an investors might come up with, maybe going hog wild with Bitcoin asymmetry.

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Margin Debt Up 0.2% in January

Advisor Perspectives

FINRA has released new data for margin debt, now available through January. The latest debt level rose for a third straight month to $701.98 billion. Margin debt is up 0.2% month-over-month (MoM) and up 9.5% year-over-year (YoY). However, after adjusting for inflation, debt level is down 0.4% MoM and up 6.2% YoY.

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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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Existing Home Sales: Lawler vs. the Consensus

Calculated Risk

Housing economist Tom Lawler has been sending me his predictions of what the NAR will report for almost 14 years. He has graciously allowed me to share his predictions with the readers of this blog. The table below shows the consensus for each month, Lawler's predictions, and the NAR's initially reported level of sales. Lawler hasn't always been closer than the consensus, but usually when there has been a fairly large spread between Lawler's estimate and the "consensus", Lawler has been closer.

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Winning Financial Strategy Combines Strong Offense and Defense

Advisor Perspectives

Millions of people in the U.S. have a great offense when it comes to earning money that could provide them financial security. Yet it does not, because their defense in protecting and creating that security is gravely underperforming.

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MBA Survey: Share of Mortgage Loans in Forbearance Decreases to 0.22% in January

Calculated Risk

From the MBA: Share of Mortgage Loans in Forbearance Decreases Slightly to 0.22% in January The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 1 basis point from 0.23% of servicers’ portfolio volume in the prior month to 0.22% as of January 31, 2024. According to MBA’s estimate, 110,000 homeowners are in forbearance plans.

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Maximize Your Productivity by Minimizing Alerts

Advisor Perspectives

Being bombarded by notifications interferes with your productivity. Here are the alerts you should skip and those notifications you can’t live without.

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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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DOT: Vehicle Miles Driven Increased 2.1% year-over-year in 2023

Calculated Risk

This is something I check occasionally. The Department of Transportation (DOT) reported : • Travel on all roads and streets changed by +2.2% (+5.7 billion vehicle miles) for December 2023 as compared with December 2022. Travel for the month is estimated to be 263.7 billion vehicle miles. • The seasonally adjusted vehicle miles traveled for December 2023 is 273.0 billion miles, a +2.7% ( +7.3 billion vehicle miles) change over December 2022.

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Fundamental Analysis of Mufin Green Finance – Financials & More

Trade Brains

Fundamental Analysis of Mufin Green Finance : An EV financing NBFC has raised ₹140 crore in a Series B round of equity funding with a mission to create equal financial opportunities for the underserved segment in the country using clean technologies. The company we are talking about is Mufin Green Finance. In this article, we will conduct a fundamental analysis of Mufin Green Finance and learn more about the company and its financials.

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World Markets Watchlist: February 20, 2024

Advisor Perspectives

Five of the eight indexes on our world watch list have posted gains through February 20, 2024. Tokyo's Nikkei 225 finished in the top spot with a YTD gain of 14.64%. The U.S.'s S&P 500 finished in second with a YTD gain of 4.91% while France's CAC 40 finished in third with a YTD gain of 3.51%.