Wealth Management

AUGUST 25, 2023

In June, Wells Fargo paid the affected accounts $39 million in reimbursed fees with interest.

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Nerd's Eye View

AUGUST 25, 2023

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that a recent CFP Board survey indicates that consumers do not expect AI tools to replace human financial advisors, but rather supplement advisors' work. Further, 87% of respondents said they would trust advice from human advisors, more than any other source of advice surveyed, and well above the 37% who said they trust generative AI tools.

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Wealth Management

AUGUST 25, 2023

In other RIA news, Wealthspire expanded into Denver, Hightower supported the acquisition of Trellis Advisors by partner firm Highland Private Wealth, and Apollon, Kestra PWS and Steward onboarded new advisors.

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The Big Picture

AUGUST 25, 2023

The first post-pandemic presentation I pulled together for my pal Joe Fitzgerald (we worked together in the late 2000s) was a new deck titled: Biggest Mistakes Made by UHNW Investors. In the intervening year, I updated and refined the deck, adding more examples and specific advice. below is my discussion of what the presentation will be like at the MoneyShow in Orlando on October 30.

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Clients

Wealth Management

AUGUST 25, 2023

The higher court ruling overturns one that found in the online broker's favor in early 2022.

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Abnormal Returns

AUGUST 25, 2023

The biz What some podcasting industry leaders have to say about its future. (hollywoodreporter.com) Matt Reustle and Dom Cooke on how to start a podcast the right way. (joincolossus.com) What do podcast producers do? (fastcompany.com) Spotify Spotify ($SPOT) has a white noise problem. (engadget.com) Why Anchor sold to Spotify ($SPOT) when it did. (hunterwalk.com) Marginal Revolution David Perell talks with Tyler Cowen and Alex Tabarrok about their twenty years writing the Marginal Revolution blo

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Calculated Risk

AUGUST 25, 2023

From STR: U.S. hotel results for week ending 19 August Following seasonal patterns, U.S. hotel performance declined from the previous week but showed most positive comparisons year over year, according to CoStar’s latest data through 19 August. 13-19 August 2023 (percentage change from comparable week in 2022): • Occupancy: 67.0% (-0.1%) • Average daily rate (ADR): US$154.10 (+1.8%) • Revenue per available room (RevPAR): US$103.22 (+1.8%) emphasis added The following graph shows the seasonal pat

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Abnormal Returns

AUGUST 25, 2023

Markets The stock market is kinda stuck. (allstarcharts.com) The spreads on corporate bonds are still near their recent lows. (axios.com) Strategy Why we are so prone to overconfidence. (ritholtz.com) Sentiment is cyclical, but is still difficult to profit from. (monevator.com) Finance On the prospects for an IPO revival. (ft.com) Loans are still not securities.

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Financial Advising Retail Media Economy 243

The Reformed Broker

AUGUST 25, 2023

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Guy Spier, and Downtown Josh Brown discuss lunch with Warren Buffett, value investing, managing a hedge fund, Berkshire after Buffett, the bull case for Ferrari, 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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Calculated Risk

AUGUST 25, 2023

From BofA: Altogether, this decreased our 2Q GDP tracking estimate by one-tenth to 2.4% q/q saar (seasonally adjusted annual rate) and increased it by a one-tenth for 3Q to 2.8% q/q saar [Aug 24th estimate] emphasis added From Goldman: [W]e left our Q3 GDP tracking estimate unchanged at +2.6% (qoq ar). Our Q3 domestic final sales growth forecast stands at +2.7%.

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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.

Management

A Wealth of Common Sense

AUGUST 25, 2023

Baby boomers are by far one of the wealthiest generations the world has ever seen. The fact that there are more than 70 million people in this demographic helps but it’s also true that this is one of the luckiest generations in history when it comes to returns on financial assets. These are the total returns on stocks, bonds and housing1 since 1983: Stocks +7,930% Bonds +1,060% Housing +515% Those are annual retur.

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Calculated Risk

AUGUST 25, 2023

Today, in the Calculated Risk Real Estate Newsletter: Forecast: Multifamily Starts will Decline Sharply A brief excerpt: In 2021 there was a sharp increase in rents. This was due to a surge in household formation during the pandemic. Over time, housing economist Tom Lawler and I unraveled the household formation mystery in a series of articles (links at the bottom of this post).

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Alpha Architect

AUGUST 25, 2023

Wall Street’s product machine is continuously pumping out fairy tales; structured products should be avoided. Structured Notes Are Financial Fairy Tales was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.

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Calculated Risk

AUGUST 25, 2023

Fed Chair Powell's speech here on YouTube. From Fed Chair Powell: Inflation: Progress and the Path Ahead It is the Fed's job to bring inflation down to our 2 percent goal, and we will do so. We have tightened policy significantly over the past year. Although inflation has moved down from its peak—a welcome development—it remains too high. We are prepared to raise rates further if appropriate, and intend to hold policy at a restrictive level until we are confident that inflation is moving sustain

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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.

Numbers

Advisor Perspectives

AUGUST 25, 2023

The S&P 500 see-sawed the entire week but finished the week in the green. The index rose 0.82% from last Friday, ending a 3-week streak of losses. The index is currently up 15.21% year to date and is 8.15% below its record close from January 3, 2022.

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Integrity Financial Planning

AUGUST 25, 2023

Pickleball can be a great way to stay active while in retirement. Whether you’re an active player or you’re new to the game, this article is for you. This comprehensive review delves into three strategies, each tackling a unique aspect of pickleball. 1. The Importance of Communication in Pickleball Doubles Matches In pickleball doubles, you’ll find that successful collaboration hinges on effective communication with your partner.

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Communication Financial Planning Financial Advisor Planning 96

Trade Brains

AUGUST 25, 2023

Best TATA Group Stocks under Rs 1000: The century-old salt-to-software conglomerate Tata Group is the largest business group in India. Its listed companies have consistently built long-term wealth for their investors. But with more than 20 stocks listed on bourses, how do investors find out the best among them? In this article, we’ll read about the best TATA Group stocks under Rs 1000 which investors can add to their watchlists.

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Sara Grillo

AUGUST 25, 2023

I created this list of financial advisors for small accounts (less than $300,000 in assets) because there are alot of schmucks out there hawking crap products to people with portfolio of this size, and I don’t think it’s fair. I am an irreverent and fun marketing consultant for financial advisors. Before we get into it, here are some resources that may help you.

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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.

Accounting

Discipline Funds

AUGUST 25, 2023

Jerome Powell spoke at Jackson Hole this morning and offered a measured message about the past, present and future path of inflation and interest rates. Here are some highlights and general conclusions from his remarks: Inflation causes. I enjoyed his remarks on the causes of inflation as being both supply and demand driven. Many of the media narratives in recent years depicted this as one or the other when the empirical evidence shows that there was excessive demand (largely from excessive gove

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Risk Management Distribution Economy Economics 52

Carson Wealth

AUGUST 25, 2023

Over the last year or so, we’ve all heard the chatter over an impending recession. Some people were convinced that the economy was in trouble and recession was inevitable. But then a funny thing happened. The economy has rebounded, and the stock market is performing really well. Consumers are spending, as are businesses, and the future is looking really strong.

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Advisor Perspectives

AUGUST 25, 2023

The yield on the 10-year note ended August 25, 2023 at 4.25%, the 2-year note ended at 5.03%, and the 30-year at 4.30%.

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Tobias Financial

AUGUST 25, 2023

Embarking on your investment journey can be both exciting and daunting. If you find yourself with questions about where to begin, you’re not alone. Whether you’re fresh out of college or advancing in your career, understanding the basics of investing can lay a strong foundation for your financial future. Our Chief Investment Officer, Matthew Saneholtz , CFA, CFP®, EA was quoted on CNBC sharing his insights on the key steps to consider as a first-time investor.

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CFP Investing Investments Marketing 52

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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.

Accounting

WiserAdvisor

AUGUST 25, 2023

Tax considerations play a crucial role in retirement planning, as they can significantly impact your income and savings. Retirees must carefully strategize to minimize taxes during their non-working years. One practical approach is to convert traditional retirement accounts, like a 401(k) or a traditional IRA, into a Roth IRA. However, it is important to consider the immediate tax liabilities that come with converting to a Roth account.

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Taxes Retirement Accounting Financial Advisor 52

Advisor Perspectives

AUGUST 25, 2023

The weekly leading economic index (WLEI) is a composite for the U.S economy that draws from over 20 time-series and groups them into the following six broad categories which are then used to construct an equally weighted average. As of August 11th, the index was at -0.944, down 2.306 from the previous week.

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Economics Economy 52

Trade Brains

AUGUST 25, 2023

Highest Paid CEOs in India 2023 : Top executives in India receive astronomical salaries that significantly exceed the average compensation of their workforce. These extraordinary people not only run large corporations but also earn some of the highest salaries in the Indian corporate world. Here is a list of highest paid CEOs in India 2023 Highest Paid CEOs in India 2023 #1 – Thierry Delaporte Thierry Delaporte is a Chief Executive Officer and Managing Director of Wipro Limited.

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Management Consulting Numbers Portfolio 52

Advisor Perspectives

AUGUST 25, 2023

An abstract interest-rate metric is dominating discussions across trading desks ahead of the Jackson Hole symposium, with investors wondering if Federal Reserve Chair Jerome Powell will weigh in, and bracing for further declines in US Treasuries if he does.

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Sales

Calculated Risk

AUGUST 25, 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). Recently hospitalizations have almost doubled from a low of 5,150. COVID Metrics Now Week Ago Goal Hospitalized 2 ?

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Advisor Perspectives

AUGUST 25, 2023

The August final report for the Michigan Consumer Sentiment Index came in at 69.5, down 2.1 (-2.9%) from the July final. This morning's reading was below the forecast of 71.2. Since its beginning in 1978, consumer sentiment is 18.3% below its average reading (arithmetic mean) of 85.1 and 17.3% below its geometric mean of 84.0.

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The Big Picture

AUGUST 25, 2023

My end-of-week morning train WFH reads: • The Great and Awful Thing About These Interest Rates : If you’re depending on income to fund your retirement, 5% rates are a blessing. But if you’re in need of credit, current rates are a curse. ( Irrelevant Investor ) • In a Hot Job Market, the Minimum Wage Becomes an Afterthought : The federal wage floor of $7.25 is increasingly irrelevant when even most teenagers are earning twice that.

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Electronics Retirement Economy Economics 130

Advisor Perspectives

AUGUST 25, 2023

If this is what a bad year for the dollar looks like, I'll take it. Widespread predictions of a significant retreat after a bumper 2022 haven't come to pass.

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Accounting