Wed.Sep 13, 2023

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Why The Common Approach Of “Think It Over” Might Work For Product Sales, But Undermines Service-Based Financial Planning Relationships

Nerd's Eye View

For many financial advisors, encouraging new prospects to "think it over" at the end of an initial meeting can seem like a gentle way to offer the prospect space to decide whether the relationship will be right for them, while at the same time, keeping the advisor from feeling that they may be coming across too aggressively by making an immediate sales pitch.

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Birinyi’s Axioms

The Big Picture

This year, we lost one of Wall Street’s brightest lights. Beginning in 1974, and over the next 50 years of investing, Laszlo Birinyi closely watched the markets. He was one of the market’s most insightful observers and served clients with great distinction. He was a Truth-teller, especially about how people allowed financial Media to affect their emotions, and was unusually frank about his fellow strategists and Wall Street salespeople.

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Personal finance links: living in the future

Abnormal Returns

Autos Ben Carlson and Michael Batnick talk with CarDealershipGuy about the state of the American car market. (theirrelevantinvestor.com) Peter Lazaroff talks with Jesse Cramer about the math behind car ownership. (peterlazaroff.com) Retirement How retirement can open you up to new possibilities. (humbledollar.com) Some tips on how to boost your spending in retirement.

Math 147
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The Next PE Consolidation Battleground? WealthTech

Wealth Management

The same private equity players fueling RIA consolidation are likely to next set their sights on the fragmented universe of advisory firm tech vendors, according to a discussion among industry executives at last week’s “Wealthies” Awards' executive forums.

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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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Early Look at 2024 Cost-Of-Living Adjustments and Maximum Contribution Base

Calculated Risk

The BLS reported on this morning: The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 3.4 percent over the last 12 months to an index level of 301.551 (1982-84=100). For the month, the index increased 0.6 percent prior to seasonal adjustment. CPI-W is the index that is used to calculate the Cost-Of-Living Adjustments (COLA).

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Part 1: Current State of the Housing Market; Overview for mid-September

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: Part 1: Current State of the Housing Market; Overview for mid-September A brief excerpt: Interestingly, new home inventory is close to a record percentage of total inventory. This graph uses Not Seasonally Adjusted (NSA) existing home inventory from the National Association of Realtors® (NAR) and new home inventory from the Census Bureau ( only completed and under construction inventory ).

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Top 5 Mukesh Ambani Investment in Startups – Where Wealth Meets Innovation

Trade Brains

Mukesh Ambani Investment in Startups : Reliance Industries, the most valuable corporation in India based on market value, is being managed by Mukesh Ambani as chairman and managing director. He is the wealthiest person in Asia and the 13th richest person in the world as of August 2023, with an estimated net worth of $91.2 billion. Top 5 Startups that Mukesh Ambani has Invested in: Mukesh Ambani Investment in Startups #1 – Dunzo In January 2022, Reliance Industries invested INR 1490 crore i

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Cryptocurrencies: Bitcoin Inches Down

Advisor Perspectives

Bitcoin's price inched down from last week, marking the fourth consecutive weekly decline. Nevertheless, BTC remains up ~55% year to date. Here's the latest charts on three of the largest cryptocurrencies by market share through 9/12.

Marketing 104
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Rising Stars of the Year Honorees

Wealth Management

The Wealthies 2023 rising stars include a TikTok influencer, multiple RIA CEOs, a digital marketing savant and more.

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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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Investing for Longevity: Wealth Creation Inspired by Blue Zone Habits

Validea

By Justin Carbonneau ( Twitter | LinkedIn | YouTube ) — Netflix has a new documentary out on Centenarians ( Live to 100: Secrets of the Blue Zones ) – individuals who live to 100+ years old – and areas of the world with there are high density clusters of centenarians, called Blue Zones. The host of the film, Dan Buettner is author of the book “ The Blue Zones Secrets for Living Longer: Lessons From the Healthiest Places on Earth ”.

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The Equity Beat: Can the Swift Economy Remain on Stage?

Brown Advisory

The Equity Beat: Can the Swift Economy Remain on Stage? bgregorio Wed, 09/13/2023 - 04:16 In August, superstar singer and entertainer Taylor Swift completed the first leg of her Eras tour in Los Angeles, performing 52 dates through 20 U.S. cities over the past few months. Despite causing Ticketmaster’s (owned by Live Nation Entertainment) website to crash last November due to overwhelming traffic, ticket revenue from Ms.

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Capital Split Dollar Programs Explained

Wealth Management

This framework can aid in wealth accumulation and help business-owner clients attract and retain top talent.

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MBA: Mortgage Applications Decreased in Weekly Survey

Calculated Risk

From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 0.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 8, 2023. This week’s results included an adjustment for the Labor Day holiday. The Market Composite Index, a measure of mortgage loan application volume, decreased 0.8 percent on a seasonally adjusted basis from one week earlier.

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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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IRS Targets Large Partnerships and Millionaires

Wealth Management

It will use artificial intelligence to help identify tax discrepancies and trigger audits.

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The Importance of Debt Management

Advisor Perspectives

Incorporating debt planning into your services helps your clients achieve a more comprehensive and sustainable financial future.

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YoY Measures of Inflation: Services, Goods and Shelter

Calculated Risk

Here are a few measures of inflation: The first graph is the one Fed Chair Powell had mentioned earlier when services less rent of shelter was up 7.6% year-over-year. This has fallen sharply and is now up 3.1% 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.

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U.S. Household Incomes: A 50+ Year Perspective

Advisor Perspectives

This month, the Census Bureau released its annual report on household income data for 2022. Last year the median (middle) average household income fell by 2.3% to $74,580. Let's take a closer look at the quintile averages, which dates from 1967, along with the statistics for the top 5%.

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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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401(k) Real Talk Episode 76: September 13, 2023

Wealth Management

Open, honest and candid discussions about the latest news in the RPA industry.

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Animal Spirits: Is Apple the Next IBM?

A Wealth of Common Sense

Today’s Animal Spirits is brought to you by YCharts: See here for YCharts latest product enhancement webinar covering the proposal tool with RWM COO Nick Maggiulli and here for a month of free access with YCharts! On today’s show, we discuss: Apple tests limits for most expensive iPhones AI – The hot stocks of the decade? Tropical Bros Shirts: See here for Animal Spirits x Tropical Bros shirts and he.

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The Most Actively Traded ETFs in the Past Month

Wealth Management

These funds saw the most activity over the past 30 days.

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Median Household Income by State: 2022 Update

Advisor Perspectives

The median US income in 2022 was $74,580, up from $22,420 in 1984 — a 233% rise over the 38-year time frame. However, if we adjust for inflation chained in 2022 dollars, the 1984 median is $56,780, and the increase drops to 31%.

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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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Episode #499: Kevin Carter, EMQQ Global – India is Happening NOW

Meb Faber Research

Episode #499: Kevin Carter, EMQQ Global – India is Happening NOW Guest: Kevin Carter is the Founder & Chief Investment Officer of EMQQ Global. While he principally considers himself an active “value” investor, he has collaborated with Princeton economist and indexing legend, Dr. Burton G. Malkiel, for more than 20 years. Date Recorded: 8/30/2023 | […] The post Episode #499: Kevin Carter, EMQQ Global – India is Happening NOW appeared first on Meb Faber Research

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Inflation Since 1872: A Long-Term Look at the CPI

Advisor Perspectives

The Consumer Price Index for Urban Consumers (CPI-U) released for August puts the year-over-year inflation rate at 3.67%. The latest reading keeps inflation below the 3.75% average since the end of the Second World War for the third straight month. However, inflation remains above the 10-year moving average which is now at 2.67%.

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"Return On Hassle"

Random Roger's Retirement Planning

A phrase that Tadas Viskanta attributed to Khe Hy. It means what you think it means, extra return for more effort and the fulcrum point at which the extra effort is not worth the extra return. I've quantified this point before with the following example of an active trader with a $1 million account. This person could make trading his account a full time job in pursuit of beating the market.

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Middle-Class Hourly Wages as of August 2023

Advisor Perspectives

I've updated this series to include the August release of the consumer price index as the deflator and the monthly employment update. The latest hypothetical real (inflation-adjusted) annual earnings are at $49,010, down 8.1% from over 50 years ago. Hourly earnings are below their all-time high after adjusting for inflation.

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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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Zaggle Prepaid Ocean Services IPO Review – GMP, Details, Price & More

Trade Brains

Zaggle Prepaid Ocean Services IPO Review : Zaggle Prepaid Ocean Services is coming with its Initial Public Offering and it will be listed on NSE and BSE. The IPO will be open for subscription on September 14, 2023, and closes on September 18, 2023. In this article, we will look at Zaggle Prepaid Ocean Services IPO review, analyze the company, look at its strengths and weaknesses and see what unfolds.

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Consumer Price Index: Inflation Rises to 3.7% in August

Advisor Perspectives

Headline inflation rose for a second straight month in August while core inflation continued to cool. According to the Bureau of Labor Statistics, the headline figure for the Consumer Price Index increased to 3.7% year-over-year from 3.2% in July. The latest reading is slightly higher than the expected 3.6% annual increase. The core CPI reading was consistent with expectations at 4.3%, a slow down from 4.7% in July.

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Thursday: Retail Sales, Unemployment Claims, PPI

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 212 thousand initial claims, down from 216 thousand last week. • Also at 8:30 AM, Retail sales for August will be released. The consensus is for a 0.1% increase in retail sales. • Also at 8:30 AM, The Producer Price Index for August from the BLS.

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