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This is relevant today. From Federal Reserve Staff in 2013 on the debt ceiling debate: Possible Macroeconomic Effects of a Temporary Federal Debt Default. Excerpts: Key considerations in evaluating the consequences of a debt default • Such an event would be unprecedented. Although other countries have defaulted on their sovereign debt, these defaults occurred in situations where the government could not feasibly continue to service its debt.
My mid-week morning train WFH reads: • The Myth of the Broke Millennial : After a rough start, the generation is thriving. Why doesn’t it feel that way? ( The Atlantic ) • How 2022 Became a Record Year for US Income Taxes : An asset-price boom, a progressive tax code and inflation interacted to drive effective rates higher than ever. Now the process is working in reverse. ( Bloomberg ) • Tax season is getting longer.
The office of the CFO is rapidly evolving, with more and more demands being placed upon the finance and accounting team each year. Join us in this webinar, where we share 8 things to NOT do when it comes to helping the CFO office advance in supporting the business. Learning Objectives: This course objective is to understand how best to support an organization's finance leadership.
Notes: The expansion to the Panama Canal was completed in 2016 (As I noted several years ago ), and some of the traffic that used the ports of Los Angeles and Long Beach is probably going through the canal. This might be impacting TEUs on the West Coast. Container traffic gives us an idea about the volume of goods being exported and imported - and usually some hints about the trade report since LA area ports handle about 40% of the nation's container port traffic.
From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 8.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 14, 2023. The Market Composite Index, a measure of mortgage loan application volume, decreased 8.8 percent on a seasonally adjusted basis from one week earlier.
From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 8.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 14, 2023. The Market Composite Index, a measure of mortgage loan application volume, decreased 8.8 percent on a seasonally adjusted basis from one week earlier.
Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE) investment. From the AIA: After Five Straight Monthly Declines, AIA/Deltek Architecture Billings Index (ABI) Reports Slightly Improved Business Conditions Architecture firms reported a modest increase in March billings. This positive news was tempered by a slight decrease in new design contracts according to a new report released today from The American Institute of Architects (AIA).
In the latest exodus from troubled First Republic Bank, a 17-member New York team has joined Rockefeller’s global family office, while another advisor goes to City National Bank.
Podcasts Meb Faber talks with Ramit Sethi about his new Netflix show 'How to Get Rich.' (mebfaber.com) Christine Benz and Jeff Ptak talk with Micah Hauptman who is the director of investor protection at the Consumer Federation of America. (morningstar.com) Morgan Housel on why you need to play your own (money) game. (open.spotify.com) Direct indexing Ten years of live numbers on a tax-loss harvesting program.
Speaker: Dylan Secrest, Founder of Alamo Innovation and Construction Digital Transformation Consultant
Construction payment workflows are notoriously complex when you consider juggling multiple stakeholders, compliance requirements, and evolving project scopes. Delays in approvals or misaligned data between budgets, lien waivers, and pay applications can grind progress to a halt. The good news? It doesn't have to be this way! Join expert Dylan Secrest to discover how leading contractors are turning payment chaos into clarity using digital workflows, integrated systems, and automation strategies.
Morgan Stanley's wealth unit boasted $110 billion in net new assets over the first quarter, while Bank of America Merrill Lynch stressed it hit a record high of net new relationships, despite a 3% revenue dip.
When an RIA reaches the threshold of $100 million in Regulatory Assets Under Management (RAUM), it must generally switch from being registered at the state level to registering with the SEC. But while $100 million may be the general rule, in practice it isn’t always a hard line. The reality is that volatile markets and shifting client bases can often cause an RIA’s RAUM to flutter above and below the $100 million line.
Strategy Five real investing lessons from Warren Buffett's career. (realreturns.blog) The 60/40 portfolio never went away. (ritholtz.com) Is gold worth the headache? (savantwealth.com) Know what you own. (morningstar.com) Companies Netflix ($NFLX) is phasing out its DVD-by-mail business. (thestreamable.com) Did Meta ($META) kill the link-in-bio business?
You wouldn’t keep using a 2009 flip phone - so why settle for outdated close processes? It’s time for an upgrade. SkyStem's Guide to Month-End Close Software walks you through what today’s best tools can do (and what your team shouldn’t have to deal with anymore). Get smart, fast, and a whole lot less stressed when it’s time to close the books.
The interest rate on the popular savings tool will decline in May because of cooling inflation. Other investment options might provide a better return.
Today, in the Calculated Risk Real Estate Newsletter: 4th Look at Local Housing Markets: California Home Sales down 34% YoY in March; Prices Down 7.0% YoY A brief excerpt: This is the fourth look at local markets in March. I’m tracking about 40 local housing markets in the US. Some of the 40 markets are states, and some are metropolitan areas. I’ll update these tables throughout the month as additional data is released.
Advisor coach Stephanie Bogan’s childhood shaped her insecurities and drove her to prove herself in the industry. But she realized her success was not bringing meaning to her life.
Fed's Beige Book "This report was prepared at the Federal Reserve Bank of Richmond based on information collected on or before April 10, 2023." Overall economic activity was little changed in recent weeks. Nine Districts reported either no change or only a slight change in activity this period while three indicated modest growth. Expectations for future growth were mostly unchanged as well; however, two Districts saw outlooks deteriorate.
In the climb from contributor to leader, the rules quietly change. If you’re aiming for the summit, the air gets thinner—and what got you here won’t be enough to get you to the top (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level.
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 240 thousand initial claims, up from 239 thousand last week. • Also at 8:30 AM, the Philly Fed manufacturing survey for April. The consensus is for a reading of -20.0, up from -24.6. • At 10:00 AM, Existing Home Sales for March from the National Association of Realtors (NAR).
“Making money while you sleep” has a nice ring to it, doesn’t it? After all, one of the goals of financial independence is to build wealth that doesn’t eat up your time, so you can enjoy life and do the things you choose to do. The truth is that building a passive income stream usually isn’t passive at first. It requires time, money, skills, or all three.
Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i
Rob Foregger, co-founder of Personal Capital and NextCapital, and partner Jim MacIntyre have teamed up with equity analytics and indexing provider MarketGrader to develop the next generation of smart beta and index investing.
Managing money can be challenging, especially when there are so many money myths and misconceptions floating around. These financial myths can be detrimental to your financial well-being. They can lead you to make poor decisions, cause you to overspend , discourage you from seeking help or understanding, and cause lots of stress. Don't worry, that doesn’t have to happen to you!
Tesla Inc.’s TSLA new lithium refinery in Texas will break ground in May, Tesla executives said on a call late Wednesday after the EV maker’s first-quarter results. Tesla filed paperwork for the refinery in September, saying that the facility would be the first of its kind in North America. The refinery is in the Corpus Christi, Texas, area, nearby the major Corpus Christi port.
3 MIN READ Meet Jonathan Sprinkles. Best-selling author. TV personality. Coach. Father. No matter how he is described, Jonathan is known as “the guy” on the topic of connection. There’s one thing he really gets: the difference between what sells and what serves your clients. Jonathan's unique ability to inspire people to bring connection back to the center of their practice makes ‘professional connector’ seem like the most appropriate title.
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
As multiple recessionary signs flash red including bank failures, persistent inflation, and ongoing volatility, investors of all ages are increasingly nervous about the state of the markets and economy and what it means for their retirement plans and their ability to save for retirement. Our recent Advisor Authority survey, powered by the Nationwide Retirement Institute®, revealed that four in ten investors believe the U.S. is already in a financial crisis, and three in ten believe we are approa
When most people hear the phrase “six figures,” they immediately think of a huge salary. After all, six-figure incomes are often associated with high-powered jobs in the business world or top-tier professionals like doctors and lawyers. And do you know 18% of American individuals are six-figure earners, according to Zippia ? That’s a lot of money a person could earn in a year!
Snap Inc. SNAP has drawn more than 3 million users to its Snapchat+ subscription service, a $3.99-a-month service that provides early access to features such as its new AI chatbot. The company had announced 2.5 million users in February. The latest additions, announced Wednesday during Snap’s annual partner conference in Southern California, tops company expectations and includes 1 million paying users added in the past 11 weeks.
Our recent Advisor Authority survey , powered by the Nationwide Retirement Institute®, found that many investors see a future financial crisis as more of a certainty than a possibility. One-fifth (20%) of investors said they expect to face two or more financial crises in their lifetime, while nearly half (43%) said they expect to face three or more.
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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