Tue.Jun 11, 2024

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Research links: problematic concentration

Abnormal Returns

Concentration A look at 200 years of stock market concentration in the U.S. (globalfinancialdata.com) "Stock Market Concentration: How Much is Too Much?" by Mauboussin and Callahan. (morganstanley.com) Trend What happens when you stack managed futures trend on top of equities? (caia.org) Comparing the diversification benefits of bonds vs. trend following.

Media 242
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#FASuccess Ep 389: Generating $5M In Hourly Planning Fees In The Blue Ocean Of Consumer Demand, With Mark Berg

Nerd's Eye View

Welcome everyone! Welcome to the 389th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Mark Berg. Mark is the Founder of Timothy Financial Counsel, an RIA based in Wheaton, Illinois, that is on track to generate approximately $5 million in annual revenue this year serving 800 client households. What's unique about Mark, though, is how his firm has scaled from $1.8 million of revenue to $5 million, in only 6 years, and has maintained a 25% profit margin… al

Planning 228
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Tuesday links: unrealized expectations

Abnormal Returns

Diversification We are in a 'bear market for diversification.' (thinkadvisor.com) What really is the goal of portfolio diversification? (rogersplanning.blogspot.com) Books Insights from "The Price of Time: The Real Story of Interest" by Edward Chancellor. (blas.com) A review of Nathaniel Popper's "The Trolls of Wall Street: How the Outcasts and Insurgents are Hacking the Markets.

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10 Investment Must Reads for This Week

Wealth Management

Family offices plan to be active acquirers of stakes in private companies, according to a study by BNY Mellon Wealth Management. ETF.com looked at how inflation and expectations on potential interest rate cuts is affecting rate-sensitive ETFs. These are among the investment must reads we found this week for wealth advisors.

Investing 113
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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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Wednesday: CPI, FOMC Statement

Calculated Risk

Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Wednesday: • At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index. • At 8:30 AM, The Consumer Price Index for May from the BLS. The consensus is for 0.2% increase in CPI (up 3.4% YoY), and a 0.3% increase in core CPI (up 3.5% YoY). • At 2:00 PM, FOMC Statement.

Economics 109

More Trending

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Not Getting Rich Fast Enough

A Wealth of Common Sense

The plural of anecdote is not data. You can’t extrapolate your individual experience or the experiences of your family, friends and peers to the broader economy, markets, political climate, etc. Just because the dumbest person you know is going all-in on Nvidia does not mean the stock market is going to collapse tomorrow. That’s not how any of this works.

Economy 107
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AI-Powered Financial Research Assistant Brightwave Raises $6M In Seed Funding

Wealth Management

Instead of simply a question-and-answer format, Brightwave reports are “living documents” that can be expanded and manipulated based on an advisor’s interests.

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The Strategic Imperative of Appointing a Chief Growth Officer

Advisor Perspectives

By championing innovation, fostering cross-functional collaboration, and driving a holistic growth strategy, a CGO can propel your firm towards achieving its growth targets and securing its competitive edge.

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Diversification Is Alive & Well!

Random Roger's Retirement Planning

Yesterday we asked if diversification was dead. It is of course not dead but bonds became a far less effective diversifier years ago, long before 2022 when interest rates started going up. The reason I say that is with rates on their way to zero, the risk to holding longer duration bonds went up. The risk was there for years, 2022 when when there was a consequence to investors who took that risk.

Math 98
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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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Scoreboard… Scoreboard… Scoreboard…

Advisor Perspectives

While early earnings guidance for Q2 is more a mixed bag, and not all months will look like this, May was a great month for equity investors. The adage, “Sell in May and go away” hasn’t seemed to work out so well over the last few decades.

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Most Private Equity Investors Fear Cash Is Stuck in Zombie Funds

Wealth Management

Almost 50% of pension funds, insurers or other investors already have money in funds that have little hope of liquidating their assets or raising a successor vehicle, according to Coller Capital.

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Complexity is a virtue in return prediction

Alpha Architect

Simple models severely understate return predictability compared to “complex” models in which the number of parameters exceeds the number of observations. Complexity is a virtue in return prediction was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.

Numbers 96
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A Strategic Approach to Asset Splitting Among RIA Custodians

Wealth Management

An RIA’s level of satisfaction with a custodian is directly correlated with the proportion of assets held with them.

Assets 121
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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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Success by going back to the basics

Million Dollar Round Table (MDRT)

By Yohei Tomita In my fifth year in this profession, I was lost and worried. I was working like a horse day and night and made it to the top 20% of my primary company’s production ranking. However, high-performing colleagues were producing the same in half the time. I thought, I must be doing something wrong. One day, I visited a Zen temple with an old friend to practice zazen, which is seated meditation.

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Educating Investors on the Economics of Dividends

Wealth Management

Explaining the fallacy of a free dividend can overcome both investor ignorance and their biases.

Education 128
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Hotels: Occupancy Rate Increased 0.9% Year-over-year

Calculated Risk

From STR: U.S. hotel results for week ending 1 June Due to Memorial Day, the U.S. hotel industry reported lower performance results from the previous week but slightly positive comparisons year over year, according to CoStar’s latest data through 1 June. 26 May through 1 June 2024 (percentage change from comparable week in 2023): • Occupancy: 62.0% (+0.9%) • Average daily rate (ADR): US$150.87 (+0.1%) • Revenue per available room (RevPAR): US$93.50 (+1.0%) emphasis added The following graph show

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Lido Completes First Deal Since Constellation Investment

Wealth Management

The acquisition of Shore Morgan Young, an RIA with over $615 million in client assets, gives Lido a foothold in the Silicon Heartland.

Investing 108
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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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CPI Previews

Calculated Risk

The key economic report this week is May CPI to be released tomorrow. The consensus is for 0.2% increase in CPI (up 3.4% YoY unchanged from April), and a 0.3% increase in core CPI (up 3.5% YoY, down from 3.6% YoY in April). From BofA: After averaging 0.4% m/m in January through March, inflation took a small step in the right direction in April with core Consumer Price Inflation (CPI) and Personal Consumption Expenditure Inflation (PCE) both decelerating to 0.3% m/m (core PCE inflation was 0.26%

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Being An RIA Is All About Choice

Wealth Management

Independence affords advisors the flexibility to break out on their own and still work with a broker/dealer on commissionable business.

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2nd Look at Local Housing Markets in May

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: 2nd Look at Local Housing Markets in May A brief excerpt: NOTE: The tables for active listings, new listings and closed sales all include a comparison to May 2019 for each local market (some 2019 data is not available). This is the second look at several early reporting local markets in May. I’m tracking over 40 local housing markets in the US.

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Yext to Acquire Hearsay Systems

Wealth Management

The online presence and listings manager could pay up to $220 million for the client engagement and compliance platform.

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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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Insurance Illustrations: AI Generated Predictions Become The New Must-Have Insurance Tool

NAIFA Advisor Today

Earlier this year, I encountered a remarkable AI tool with transformative capabilities. This tool can seamlessly import various documents, such as a PDF of an IUL illustration, and then empower users to enact changes effortlessly. With just a simple click of a button labeled "Analyze with AI," it initiates a swift process of recalculations, adjusting parameters like premium, face amount, load amount, and credit rating.

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Summit Adds $1.9B Breakaway Team from Merrill Lynch

Wealth Management

SRM Private Wealth represents the 11th team to join Summit this year. It will use Goldman Sachs for custody.

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NFIB Small Business Survey: Highest Level of the Year

Advisor Perspectives

The headline number for the NFIB Small Business Optimism Index rose to 90.5 in May, the index's highest level of 2024. The latest reading was better than the forecast of 89.8 but marked the 29th straight month the index has been below the series average of 97.9.

Numbers 64
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Understanding, Supporting and Reaching Next-Generation Talent

Wealth Management

In a challenging labor market, attracting and retaining talent remains a top priority for firms.

Marketing 109
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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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GM Approves $6 Billion Stock Buyback on Growth in EVs

Advisor Perspectives

General Motors Co. authorized a new $6 billion share buyback plan as improving profitability in its electric vehicle operations allows the automaker to return cash to investors.

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Arax Acquires $1.7B RIA; Recruits $270M Wells Fargo Team

Wealth Management

Denver-based SRS Capital Advisors is the latest RIA to join under Arax’s multi-boutique strategy.

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Baby Boomer Employment Across Time

Advisor Perspectives

The 20th century Baby Boom was one of the most powerful demographic events in the history of the United States. We've created a series of charts to show seven age cohorts of the employed population from 1948 to the present.

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