Thu.Jan 19, 2023

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Future Proof 2023

The Big Picture

Last year, we hosted the first Future Proof conference , and it was. The reviews were fabulous: Morningstar , L.A. Times , Investment News , Financial Planning , RIA Biz , Think Advisor , Business Insider ; Afterward, I told you the traditional financial conference was kaput. Attendees from all over the country (and the world!) came to discuss the most important issues surrounding advising clients.

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Thursday links: a mild recession

Abnormal Returns

Markets Is this a new bull market? Hold on. (theirrelevantinvestor.com) When it comes to active management, hope springs eternal. (on.ft.com) Ashby Monk, “The Swensen model is the Swensen model because of leadership.That human being had the drive to take all of these inputs and drivers and build the Yale Model.” (institutionalinvestor.com) Finance When will VCs deploy all their 'dry powder'?

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Is It Realistic to Have 100% of Your Portfolio in Stocks?

A Wealth of Common Sense

A reader asks: Is it crazy to be 100% in stocks from age 32 to sometime in my 50s for my retirement accounts? And another reader asks a similar question: I don’t get why people work a 30+ year career while investing in stocks only to glide path into a heavier bond allocation around retirement. Why not just stay 100% in stocks, benefit from share price appreciation and collect dividends for life?

Portfolio 145
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Longform links: shareholder primacy

Abnormal Returns

Books An excerpt from “The Good Life: Lessons From the World’s Longest Scientific Study of Happiness,” by Robert Waldinger and Marc Schulz. (wsj.com) Insights from "Flights of Fancy: Defying Gravity by Design and Evolution" by Richard Dawkins. (rationalwalk.com) An excerpt from "Beyond Measure: The Hidden History of Measurement from Cubits to Quantum Constants" by James Vincent.

Media 208
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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Weekly Initial Unemployment Claims decrease to 190,000

Calculated Risk

The DOL reported : In the week ending January 14, the advance figure for seasonally adjusted initial claims was 190,000 , a decrease of 15,000 from the previous week's unrevised level of 205,000. The 4-week moving average was 206,000, a decrease of 6,500 from the previous week's unrevised average of 212,500. emphasis added The following graph shows the 4-week moving average of weekly claims since 1971.

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A Four-Step Plan for Re-Industrialization

Advisor Perspectives

A correct, affordable and successful industrial policy would create the conditions in which the U.S. and foreign companies will invest in U.S. re-industrialization in their own self-interest.

Planning 110
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"Short Memories"

Calculated Risk

This was written in 2014, but I never published it! A short comment on "short memories". Voters have "short memories". Sometimes "short memories" are good. Albert Schweitzer once said, "Happiness is nothing more than good health and a bad memory". Many people think having a short memory is helpful in sports (not letting previous failures bother you) and in life (forgetting bad things and / not holding a grudge / letting go).

Budgeting 109
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The Healthy Advisor: The Art of Mindfulness With Mary Martin

Wealth Management

Mindfulness educator Mary Martin on how advisors can take care of their own wellbeing through personal considerations and building connections with others.

Education 119
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Friday: Existing Home Sales

Calculated Risk

Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Friday: • At 10:00 AM ET, Existing Home Sales for December from the National Association of Realtors (NAR). The consensus is for 3.95 million SAAR, down from 4.09 million.

Sales 101
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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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Mindy Diamond on Independence: A Candid Conversation with Merrill's Andy Sieg

Wealth Management

The leader of one of the top brokerage firms in the wealth management world, Andy Sieg, president of Merrill Lynch Wealth Management, joins the show for a candid one-on-one interview with Mindy Diamond.

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Top 15 Reverse Mortgage Loan Questions Answered

NAIFA Advisor Today

Reverse mortgage loans are widely misunderstood, and many homeowners and advisors have a strong negative bias against them. Unfortunately, those misconceptions and preconceptions hold back many ideal candidates from ever considering a reverse mortgage. Today’s reverse mortgage loans are not the same as they were even a decade ago, and it is to your advantage as a trusted financial professional to take a fresh look at them, as they can often be a viable solution to many of the financial challenge

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CFP Professionals' Diversity Grows, But Lags U.S. Demographics

Wealth Management

The total number of CFP professionals topped 95,000 for the first time. While the percentage of women and racially diverse certificants grew from the previous year, the pool continued to mirror the industry’s diversity as a whole.

CFP 104
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Pre-tax vs. Roth (after-tax) 401k Contributions

Good Financial Cents

A major decision in retirement planning is whether to make pre-tax or Roth (after-tax) 401k contributions. Pre-tax contributions go into your retirement account with money that has not been taxed, and then taxes will be paid when the funds are withdrawn in retirement. With Roth contributions, taxes will be taken from the money prior to placing it in the plan, but it can then be withdrawn tax-free once you retire.

Taxes 96
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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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How One Actor-Turned-Investor Built a Real Estate Syndication Biz

Wealth Management

Matt Picheny has built a Sun Belt multifamily portfolio and generated healthy returns for passive real estate investors.

Portfolio 112
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Be the Financial Compass for Future Generations

Integrity Financial Planning

Building towards retirement, you have made many financial decisions. Perhaps you maxed out your credit card on clothes in your early 20s or chose the wrong payment plan for your car loan or home mortgage. Regardless, you’ve navigated many financial obstacles and gained wisdom that can now be passed on to your kids and grandchildren. Although money can be a difficult topic to discuss, sharing this wisdom can help future generations make better-informed financial decisions.

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FNZ Expanding US Footprint With YieldX Acquisition

Wealth Management

The New Zealand-based wealth management firm looks to further extend its reach into the North American market.

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Zillow Home Value Index: December Update

Advisor Perspectives

December's ZHVI came in at $357,319, slightly up from the previous month by 0.01% and up 10.8% YoY. After adjusting for inflation, the real figures are -0.77% MoM and 3.02% YoY.

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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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KKR Caps Withdrawals on Real Estate Trust in Latest Pullback

Wealth Management

Real estate investment vehicles overseen by KKR and Blackstone have come under pressure in recent months as investors requested their money back beyond limits set by the funds. Blackstone Real Estate Income Trust and Starwood Real Estate Income Trust have said they would limit redemptions, moves that spurred queries by the US Securities and Exchange Commission.

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Will Your Clients' Retirement Resources Cover Long-Term Care?

Advisor Perspectives

The greatest financial risk for depleting retirement resources is an unexpected and lengthy stay in a long-term healthcare facility.

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Brookfield Property Fund for Rich Investors Drops as Rates Rise

Wealth Management

The fund has had only one other losing month since its inception in 2019, according to its disclosures. Despite the weak results to end the year, Brookfield REIT still gained 12.7% in 2022. The $2.4 billion fund holds apartment buildings, offices and logistics properties, primarily in the U.S.

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Internal Audit and ESG: My Opinion

Norman Marks

I have seen several articles and blog posts lamenting the apparent fact that internal audit teams are not spending a large percentage of their audit plan addressing ESG risks. CIO.

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Quick Start Guide to a Crystal Clear Close

Did you know automating your month-end close can save up to 40% of the time typically spent on manual reconciliations? CFOs and controllers are leveraging SkyStem's workflow management and reconciliation tool to eliminate costly mistakes, ditch manual reconciliations and close faster. Want to know how they do it? Download our Quick Start Guide to a Crystal Clear Close!

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FNZ Further Expanding US Footprint With YieldX Acquisition

Wealth Management

The New Zealand-based wealth management firm looks to further extend its reach into the North American market.

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Cycle Watch | January 2023: Putting off a recession for now

Nationwide Financial

Inflation has slowed for six straight months, an encouraging sign that price pressures are easing. The latest data from the Bureau of Labor Statistics revealed that the inflation rate declined from 7.1% in November to 6.5% in December. While inflation is still too high, the Fed’s aggressive rate increases are having the desired effect. After a tumultuous 2022, there is renewed hope that the economy will continue to stabilize in 2023.

Economy 59
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Value Investing and Lifelong Learning with Cole Smead

Validea

In this episode, we speak with Smead Capital CEO and Portfolio Manager Cole Smead. Smead Capital has built a strong long-term record using a unique approach to value investing. We take a deep dive into their approach, the key metrics they use and how they think about portfolio construction. We also talk about his favorite investing books, discuss the most important lessons he thinks investors can learn from Warren Buffett and get his take on inflation and how it impacts their process.

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The good, the bad, and the volatile

Nationwide Financial

Arguably, 2022 was one of the most challenging years for equity and bond investors, but they need to remember that fluctuations in returns are a normal part of the investment process. Maintaining a clear perspective and focusing on long-term goals can help investors effectively navigate periods of market volatility. The chart above highlights how extraordinary the volatility in 2022 was for investors.

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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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Arnott: Put Money In Multi-Factor Strategies

Validea

Back in 2016, founder of Research Affiliates Rob Arnott was cautioning against multi factor strategies. Times have changed, and he’s now advising investors to buy into them, according to an article in Barron’s. Quick Links Warren Buffett Portfolio High Momentum Stocks Low Volatility / Conservative Stocks Multifactor strategies blend a variety of factors, reaching for long-term outperformance, and the funds can offer exposure to a number of different traits.

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Global Bond Sales Off to Record Start of Nearly $600 Billion

Advisor Perspectives

The best start to a year for bond returns is helping fuel an unprecedented debt-sale bonanza by governments and companies around the world of more than half a trillion dollars.

Sales 52
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Supporting clients through inflation anxiety

Nationwide Financial

Key Takeaways: According to data from the American Psychiatric Association’s (APA) Healthy Minds Monthly Poll, which included a question each month from June through December on how anxious Americans felt about a list of trending current events—4 in 5 respondents said inflation made them somewhat or very anxious 2. Due to inflation concerns, clients may hold onto large portions of their assets in cash, which could adversely affect their financial plans.

Clients 52