The Big Picture

JUNE 2, 2023

My end-of-week morning train WFH reads: • Wall Street Banks Are Using AI to Rewire the World of Finance : Lenders are experimenting with artificial intelligence. Not even Warren Buffett is sure what happens next. ( Bloomberg ) • The $1 Trillion Company That Started at Denny’s : AI made Nvidia the world’s most valuable chip maker. So did three guys sipping diner coffee and planning to conquer markets that barely existed. ( Wall Street Journal ) • Is Apple’s weird headset the future?

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License Education Banking Planning 268

The Reformed Broker

JUNE 2, 2023

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Cathie Wood, and Downtown Josh Brown discuss investing in innovation, AI fact vs fiction, how big Tesla can get, why Ark bought Nvidia in 2014, Zoom vs Google Meet vs Microsoft Teams, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!

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Investing Investments Marketing Marketing 246

Abnormal Returns

JUNE 2, 2023

The biz Consolidation is here, again, as independent podcast companies sell out. (bloomberg.com) Ad buyers love podcasts, especially business-focused ones. (insideradio.com) The number of songs uploaded to streaming services just keep increasing. (om.co) Finance David Rubenstein talks with Cliff Asness about the return of value. (bloomberg.com) Christine Benz and Jeff Ptak talk with Joel Tillinghast about his biggest investing mistake, the implications of AI for portfolio management, and how pri

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Portfolio Management Management Numbers Portfolio 224

Nerd's Eye View

JUNE 2, 2023

Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that a recent study found that advisory forms working with a younger client base tend to have relatively stronger growth in assets under management and revenue over time. In addition, the researchers found that referrals from centers of influence were one of the strongest drivers of new client growth, with client referrals playing an important role as well.

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Financial Planner Risk Tolerance Clients Financial Planning 209

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

Abnormal Returns

JUNE 2, 2023

Strategy A lot of issues really come down to perspective. (ritholtz.com) Some career advice from noted investor David Tepper. (investmenttalk.co) Companies Meta ($META) is requiring workers to come back to the office three days a week. (cnbc.com) Amazon ($AMZN) is looking to add wireless service for Prime members. (finance.yahoo.com) Apple There are only open questions right now about Apple's ($AAPL) VR efforts.

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Financial Advising Advertising Economy Media 215

A Wealth of Common Sense

JUNE 2, 2023

The AI craze is in full effect so everyone is trying to figure out who the winners will be. Maybe it will be the upstarts, some new start-up that gives you your own personal assistant in your ear, on your iPhone and at your desk. Or maybe it will be the big tech players who have gobs of money to throw at AI like Microsoft, Google and Facebook. Maybe it’s a company like NVIDIA that supplies the chips and software.

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Marketing Marketing 142

Wealth Management

JUNE 2, 2023

“Blackwells strongly opposes the cockamamie merger, and expects most other shareholders to do the same," said the activist investor of the plan, which is backed by Schorsch's AR Global.

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Management Planning 107

Calculated Risk

JUNE 2, 2023

The BEA released their estimate of vehicle sales for May this morning. This graph shows heavy truck sales since 1967 using data from the BEA. The dashed line is the May 2023 seasonally adjusted annual sales rate (SAAR). Heavy truck sales really collapsed during the great recession, falling to a low of 180 thousand SAAR in May 2009. Then heavy truck sales increased to a new all-time high of 570 thousand SAAR in April 2019.

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Sales 98

Wealth Management

JUNE 2, 2023

The regulator settled with Park Avenue Securities, alleging the firm didn’t properly supervise an unnamed rep for his outside business activities, despite numerous “red flags.

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Medical 107

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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

Walkner Condon Financial Advisors

JUNE 2, 2023

The importance of getting women into financial planning feels like it should go without saying. And in our research for this article, we were happy to learn that we are trending in the right direction. Unfortunately, we’re not quite there yet as a society, since as of 2022, the Bureau of Labor Statistics reports only a third of financial advisors are women.

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Financial Planning Planning CFP Financial Advisor 98

Integrity Financial Planning

JUNE 2, 2023

Summer vacation is just around the corner, and if you’re looking to save some money and make the most out of your trip, here are some travel hacks you can use. Book Flights Early Airlines sell flights at least 11 months in advance, so booking flights 11-plus months in advance is a great way to get value for your flight expenses. Doing this before you book hotels and other plans at your destination can help provide you with the greatest flexibility in finding the cheapest flights.

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Calculated Risk

JUNE 2, 2023

Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Due to changes at the CDC, weekly cases are no longer updated. After the first few weeks, the pandemic low for weekly deaths had been the week of July 7, 2021, at 1,690 deaths (until recently). For COVID hospitalizations, the previous low was 9,821 (until five weeks ago).

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Numbers 98

Advisor Perspectives

JUNE 2, 2023

The S&P 500 closed out the week strong, finishing Friday with a new 2023 high. The index is currently up 11.98% year to date and is 10.72% below its record close from January 3, 2022.

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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

NAIFA Advisor Today

JUNE 2, 2023

Like many, Chad Horsham, LUTCF ® , CLU ® , ChFC ® , RICP ® , got into the insurance and financial services industry through serendipity. In 2004, he ran into his real estate agent while out on a walk with his dog. When she heard he was looking for a new job, she suggested he look into New York Life Insurance Company. Nineteen years later, he’s a financial advisor through Eagle Strategies, LLC , an insurance agent at New York Life , and owns his own agency, Horsham Financial Group.

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Insurance Financial Services Financial Advisor 95

The Irrelevant Investor

JUNE 2, 2023

How many millions of American investors asked themselves the same question heading into 2023? “Why would I own stocks when I can get close to 5% risk-free* in 1-year treasury bonds?” It was and is a reasonable question. In a vacuum, bonds are competition for stocks. But the reason why bonds are now a viable alternative is because there’s a lot to worry about.

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Alpha Architect

JUNE 2, 2023

While most sin stocks in the IC method were also identified as sin in the TA method, there were 57 firm-year cases where a company showed up as sin only in the IC method—these were false positive sin stocks as identified in the IC method. Negative Screening and the Sin Premium was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.

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Investing Investments 93

Wealth Management

JUNE 2, 2023

More than $140 billion in transacted assets at RIAs was announced this week as milestones were achieved and new territory was conquered.

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Assets 103

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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

Calculated Risk

JUNE 2, 2023

From the BLS : Total nonfarm payroll employment increased by 339,000 in May , and the unemployment rate rose by 0.3 percentage point to 3.7 percent , the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, government, health care, construction, transportation and warehousing, and social assistance.

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Transportation Government 78

Wealth Management

JUNE 2, 2023

Financial advisors can focus on marketing outreach, technology and talent to take advantage of opportunities to grow their business.

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Financial Advisor Marketing Marketing 103

MarketWatch

JUNE 2, 2023

Shares of Palo Alto Networks Inc. PANW rallied in the extended session Friday after S&P Dow Jones said it would include the cybersecurity platform company’s stock in the S&P 500 index SPX. Palo Alto Networks shares surged as much as 4% after hours, following a 0.2% rise to close the regular session at $217.24, after S&P said Palo Alto Networks will replace Dish Network Corp.

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Marketing Marketing 76

Wealth Management

JUNE 2, 2023

Lenders are experimenting with artificial intelligence. Not even Warren Buffett is sure what happens next.

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Banking 114

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Accounting

MarketWatch

JUNE 2, 2023

A spokesperson for JPMorgan Chase & Co. JPM on Friday has confirmed statements on social media that some customers are seeing duplicate transactions and fees on their checking accounts. “We’re sorry,” the spokesperson said in an email to MarketWatch. “We’re working to resolve the issue and will automatically reverse any duplicates and adjust any related fees.

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Financial Services Media Accounting Banking 76

Wealth Management

JUNE 2, 2023

Our technology columnist shares some of what inspired—and irritated—him at this year’s WealthStack conference.

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MarketWatch

JUNE 2, 2023

Shares of Verizon Communications Inc. VZ sank 2.6% in morning trading Friday, to pace the Dow Jones Industrial Average’s DJIA decliners, after Bloomberg reported that Amazon.com Inc. AMZN has been in talks with wireless carriers about offering mobile services to Prime members. AT&T Inc.’s stock T dropped 3.6% following the reports, and shares of T-Mobile US Inc.

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Communication Planning Marketing Marketing 75

Wealth Management

JUNE 2, 2023

Derek Notman, the founder of Couplr and Conneqtor, shares his future wealthtech outlook.

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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

MarketWatch

JUNE 2, 2023

The Chemours Co. CC, DuPont de Nemours Inc. DD and Corteva Inc. CTVA announced Friday an “agreement in principle” to settle all drinking water claims related to perfluoroalkyl and polyfluoroalkyl substances, known as PFAS. “The companies deny the allegations in the underlying litigation and reserve all legal and factual defenses against such claims if they were litigated to conclusion,” the companies said in a statement.

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Marketing Marketing 75

Wealth Management

JUNE 2, 2023

Set expectations, understand it takes time and expect the unexpected.

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MarketWatch

JUNE 2, 2023

Stocks rose Friday, with the Dow Jones Industrial Average DJIA logging its biggest point gain of 2023 after a strong May jobs report. The Dow rose around 701 points or 2.1%, according to preliminary figures. The S&P 500 SPX jumped 1.5% to close near 4,282, just shy of the 4,292.84 level that would mark an exit from bear-market territory for the large-cap benchmark.

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Marketing Marketing 75