Fri.Nov 03, 2023

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Comments on October Employment Report

Calculated Risk

The headline jobs number in the October employment report was below expectations, and employment for the previous two months was revised down by 101,000, combined. The participation rate and the employment population ratio both decreased, and the unemployment rate increased to 3.9%. Leisure and hospitality gained 19 thousand jobs in October. At the beginning of the pandemic, in March and April of 2020, leisure and hospitality lost 8.2 million jobs, and are now down 223 thousand jobs since Februa

Retail 332
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Using Technology To Become A ‘Cyborg’ Advisor

Wealth Management

“Technology is not going to replace advisors, but advisors who do embrace technology are going to replace advisors who don’t,” said David Karr, chairman of Equitable Advisors.

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What Do World War II & Covid Have in Common?

The Big Picture

We just experienced the strongest economic recovery since the end of World War II Source: Irrelevant Investor Light posting as I’m getting ready for some travel, but this chart is so amazing. It’s hard not to look at the two biggest recovery outliers: The post-WW2 era, and the post-Covid Era. The parallels are pretty strong, especially when it comes to both the Labor market and the Inflation surges.

Economics 287
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Ten Must-See TED Talks for Financial Advisors

Wealth Management

Notes on these TED Talks that inspired your colleagues.

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2025 Industry Index: How Top Advisors Are Scaling Smarter (and Faster) This Year

Where are top advisors focusing in 2025? AcquireUp’s 2025 Industry Index reveals it all. Based on insights from 200+ financial professionals nationwide, discover why 74% say seminars and referrals deliver the best ROI, how automation is helping advisors scale faster, and why only 8% are tapping into niche marketing (a major growth opportunity!). Whether you're refining your client acquisition strategy or scaling your practice, this report gives you the real-world data, benchmarks, and action ste

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Podcast links: an abundance mindset

Abnormal Returns

Economy Kyla Scanlon talks with Derek Thompson about how to rally people to an abundance mindset. (youtube.com) Derek Thompson talks with Conor Sen about the housing recession. (open.spotify.com) Business Patrick O'Shaughnessy talks with Palmer Luckey, founder of Anduril Industries. (joincolossus.com) Alex Kantrowitz talks with Tekedra Mawakana is the Co-CEO at Waymo.

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The Word on WealthTech for November 2023

Wealth Management

F2 Strategy's co-founder and CEO provides his take on the most important wealth management technology news of the last month.

More Trending

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While Tech Integration Will Never Be Perfect, AI Could Help

Wealth Management

Industry leaders speaking at AdviceTech.Live said they have spent significant sums of money on the development of AI to increase both automation and scale, but the human advisor remains central.

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Weekend Reading For Financial Planners (November 4-5)

Nerd's Eye View

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the Department of Labor this week released its long-awaited "retirement security rule", its latest effort to curb conflicts of interest around retirement savings recommendations. Among other measures, the proposal would amend the current 5-part test that determines fiduciary status for retirement accounts by defining as a fiduciary act a one-time recommendation to roll fun

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Top Firms Are Focusing on Prospect-to-Client Close Ratios

Wealth Management

Low close ratios are almost always the result of a lack of training.

Clients 315
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Heavy Truck Sales Decline in October, Unchanged YoY

Calculated Risk

The BEA released their estimate of vehicle sales for October. This graph shows heavy truck sales since 1967 using data from the BEA. The dashed line is the October 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 record high of 570 thousand SAAR in April 2019.

Sales 203
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Data Talks, CFOs Listen: Why Analytics Are Key To Better Spend Management

Speaker: Claire Grosjean, Global Finance & Operations Executive

Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.

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Don’t Get Left Behind: Now is the Time to Invest in Multifamily

Wealth Management

Multifamily has maintained its status as the best performing and most resilient asset class through economic cycles.

Investing 312
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October Employment Report: 150 thousand Jobs, 3.9% Unemployment Rate

Calculated Risk

From the BLS : Total nonfarm payroll employment increased by 150,000 in October, and the unemployment rate changed little at 3.9 percent , the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, government, and social assistance. Employment declined in manufacturing due to strike activity. The change in total nonfarm payroll employment for August was revised down by 62,000, from +227,000 to +165,000, and the change for September was revised down by 39,000, from +33

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Creative Planning Closes on Acquisition of Goldman Sachs Personal Financial Management

Wealth Management

The new United Capital has $20 billion in total assets, 125 advisors, its own ADV and a management team pulled from both Creative Planning and Goldman Sachs.

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AAR: October Rail Combined Carloads and Intermodal Highest Since June 2021

Calculated Risk

From the Association of American Railroads (AAR) Rail Time Indicators. Graphs and excerpts reprinted with permission. Combined originated carloads and intermodal units on U.S. railroads averaged 499,331 per week in October 2023, the most for any month since June 2021 — a span of 28 months. Part of the increase relates to intermodal seasonality and concerns over Panama Canal capacity, but part also reflects an economy that remains resilient. emphasis added Click on graph for larger image.

Economy 187
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What Your Financial Statements Are Telling You—And How to Listen!

Speaker: David Worrell, CFO, Author & Speaker

Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.

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The Rise of the “Indeployee” Model in Financial Advice

Wealth Management

This is a pivotal moment in this ever-changing landscape, requiring advisors to weigh the benefits against the drawbacks and make informed decisions about their future path.

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Lawler: Single-Family Rent Results

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: Lawler: Single-Family Rent Results A brief excerpt: [H]ere are the latest rent trends just reported from two of the largest publicly traded firms in the single-family rental industry: Invitation Homes, and AMH (American Homes 4 Rent). The rent trends are for “same store/same properties.” Note that while rental growth rates have clearly decelerated at both firms since 2022, the slowdown in rent growth has been nowhere near as large as that in

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Rockefeller Snags $500M Team From Merrill’s Private Bank

Wealth Management

Advisor Robert Moon, who managed $500 million at Merrill Lynch’s Private Banking and Investment Group, joins Rockefeller's Global Family Office.

Banking 290
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The AI Moment Comes to Wall Street

The Reformed Broker

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Eric Jackson, and Downtown Josh Brown discuss the market’s strong start to November, using AI and machine learning to find alpha, the magnificent 7, fintech stocks, the court ruling impacting real estate stocks, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!

Marketing 161
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How to Avoid Pitfalls In Automation: Keep Humans In the Loop

Speaker: Erroll Amacker

Automation is transforming finance but without strong financial oversight it can introduce more risk than reward. From missed discrepancies to strained vendor relationships, accounts payable automation needs a human touch to deliver lasting value. This session is your playbook to get automation right. We’ll explore how to balance speed with control, boost decision-making through human-machine collaboration, and unlock ROI with fewer errors, stronger fraud prevention, and smoother operations.

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Planning With Two For Now

Wealth Management

Vib Arya, chief operating officer at Shufro Rose & Co., provides an honest assessment of the technology tools used by the $1.8 billion AUM firm to work with clients and drive business.

Planning 289
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This is a Wonderful Market for Dollar Cost Averaging

A Wealth of Common Sense

Here’s a conversation between me and a hypothetical stock market investors who worries a lot: Investor: The S&P 500 is the only game in town to invest in but I’m worried because the valuations are so high and all of the gains are coming from a handful of stocks. Me: If you think the large cap U.S. stocks are overvalued you could always invest in small caps, value stocks or foreign shares.

Marketing 139
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The WealthStack Podcast: The Power of the CRM with Craig Ramsey

Wealth Management

AdvisorEngine's Craig Ramsey details why having up-to-date data allows for better and faster decision making.

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Technology Spillover Impacts Stock Returns

Alpha Architect

The timelier adoption of new technology and the higher likelihood of large-scale technology adoption make the risk associated with technological innovation more systematic, which in turn increases returns required by investors for technology spillover recipients. Technology Spillover Impacts Stock Returns was originally published at Alpha Architect.

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Book of Secrets on the Month-End Close

Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.

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Become a Magazine Person in Retirement

Integrity Financial Planning

In this digital age, shifting our attention back to the tangible world of magazines might seem like a step back, but there’s a certain charm and satisfaction in flipping through the crisp pages of a well-curated publication. Here are some compelling reasons to revisit the world of magazines and a few exceptional recommendations to get you started.

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Employment Report: 150K Jobs Added in October

Advisor Perspectives

The latest employment report showed 150,000 jobs were added in October, less than the expected addition of 180,000 new jobs. Meanwhile, the unemployment rate increased to 3.9%.

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Weekend Reading: Goldilocks Employment?

Discipline Funds

Here are some things I think I am thinking about: 1) The Goldilocks Labor Report. Friday’s employment report came in weaker than expected, which is, weirdly, very good news for the economy and the Fed. The important point is that it was weak, but not too weak. It was just right. Private payrolls came in at 99K which was well below the consensus estimate of 143K.

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8 Typical Stock Option Mistakes to Avoid, Ep #203

Financial Symmetry

On your journey to reach your ideal retirement stock options can be a valuable tool to have in your arsenal. However, it’s easy to make mistakes with them since it’s not like there’s a class in high school that helps … Continued The post 8 Typical Stock Option Mistakes to Avoid, Ep #203 appeared first on Financial Symmetry, Inc.

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Stop Falling Short When It Matters Most—The Elite Advisor’s Playbook to Success

Like being inches from the end zone, many advisors are frustratingly close to their next level of success. You work hard. You put in the hours. But if your closing rate is stuck or your pipeline feels like a revolving door… something has to change. Most advisors are just one small shift away from dramatically increasing their revenue. The difference?

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Best Penny Stocks With High ROE To Add To Your Watchlist

Trade Brains

Best Penny Stocks With High ROE: In the world of investing, penny stocks are like hidden treasures. They’re often from smaller, less famous companies that could grow a lot. But, they’re also very risky. One of the ways to judge the potential of these stocks is by seeing how much return these stocks have given to their shareholders. In this article, we’ll talk about the 5 Best penny stocks With High ROE, we selected 5 stocks from various industries based on high ROE.

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Vehicle Sales as of October 2023

Advisor Perspectives

The moving average for vehicle sales per capita series peaked in August 1978. Fast forward 45 years, it is down 38.7% from that peak.

Sales 59
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Tata Motors Exit from West Bengal: Mamata Banerjee’s Costly Mistake?

Trade Brains

Tata Motors : The long-standing battle for over a decade between Tata Motors and the West Bengal government has finally come to an end. Tata Motors wins ~Rs. 766 crore in compensation from the West Bengal govt. plus 11% interest per annum until actual recovery. But how did it all begin, and what were the events that led to the controversy between Tata Motors and Singur?

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Financial Advisor Magazine: How Cloud Can Help M&A Woes

SEI

Advisors must incorporate cloud into their M&A strategies to meet client needs.

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Demo SkyStem’s Award Winning Month-End Close Solution & Earn $100

Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.