Thu.May 23, 2024

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Thursday links: unintentionally bond heavy

Abnormal Returns

Strategy How modern investment scams use stolen identities to work. (sherwood.news) Bad actors are abusing your most valuable asset, attention. (theirrelevantinvestor.com) Companies DuPont ($DD) is splitting into three companies. (edition.cnn.com) Live Nation ($LYV) is being sued by the DoJ for anti-trust violations. (hollywoodreporter.com) More companies are mentioning AI in their earnings calls.

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Who’s to Blame For the Broken Housing Market?

A Wealth of Common Sense

A reader asks: Do you guys really think foreign investsments and private equity really aren’t driving up housing prices? It really seems like it is. I understand the sentiment here. The housing market is broken right now for a lot of people. The blame is simply misplaced here. It’s not Blackrock or Blackstone or any other institutional investor who is causing the lack of supply in the housing market.

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Choosing the Right Trustee for Your Estate Plan

Carson Wealth

One of the most important decisions you’ll make when designing your estate plan is who to name in the various fiduciary roles: trustee, personal representative, executor and agent. While a critical decision, it’s often given significantly less thought than the distribution of your assets. But even a meticulously designed estate plan drafted by an accomplished estate planning attorney can fail to achieve its purpose if the trustee fails to administer the trust properly.

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Advisor Sentiment Index: Confidence in Stock Market, Economy Drops

Wealth Management

Financial advisors were split on the current state of the economy, while a majority held a positive view of the stock market in April, according to WealthManagement.com's Advisor Sentiment Index.

Economy 112
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Live Demo: How to Achieve Reconciliation Zen

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

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

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In praise of punctuality

Million Dollar Round Table (MDRT)

By Bryce Sanders Impress your clients and score points with your manager by embracing punctuality. Here’s how it can make you stand apart from other advisors: The late start to office meetings. We have all been there. The office sets up a lunch-and-learn or a company training that’s scheduled for 1 p.m. About half the room is filled. Your sales manager says, “We will delay the start until the latecomers arrive.

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Why Stock Buybacks Are Great For Our Clients

Advisor Perspectives

Corporate America is buying back its own shares at a near record pace, despite a new one percent buyback excise tax instituted in 2023. While buybacks are often criticized, they are wonderful for investors – though probably not in the way most people think.

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A Hot Button Issue for SEC Threatens to Erode Ether-ETF Demand

Wealth Management

Issuers including Fidelity Investments and Ark Investment Management have eliminated plans for “staking” the Ether they would purchase for the proposed funds if they’re approved.

Planning 100
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Weekly Initial Unemployment Claims Decrease to 215,000

Calculated Risk

The DOL reported : In the week ending May 18, the advance figure for seasonally adjusted initial claims was 215,000 , a decrease of 8,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 222,000 to 223,000. The 4-week moving average was 219,750, an increase of 1,750 from the previous week's revised average.

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Savvy Adds Four Advisors With Combined $170M

Wealth Management

The digital-focused advisory recruits advisors from UBS, Farther and others, bringing its total assets to over $400 million.

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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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Navigating Client Emotions with Behavioral Economics

Advisor Perspectives

There’s no denying that human emotions play a role in managing money. Even someone who’s usually level-headed can get caught up in excitement, fear, or uncertainty.

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SEC Takes Step Toward Approval of Ethereum ETFs

Wealth Management

Ethereum ETFs from BlackRock, Grayscale and others are one step closer to being available on the NYSE Arca, Nasdaq and Cboe BZX exchange.

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New Home Sales Retreat 4.7% in April

Advisor Perspectives

The April release for new home sales from the Census Bureau came in at a seasonally adjusted annual rate of 634,000 units, lower than the 677,000 forecast. New home sales are down 4.7% month-over-month from a revised rate of 665,000 in March and are down 7.7% from one year ago.

Sales 64
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JPMorgan Hunts for Private Credit Firm to Grow in Hot Sector

Wealth Management

JPMorgan's asset-management unit, which handles money for wealthy people and institutions including endowments and pension funds, is seeking to grow its private credit offerings.

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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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Unemployment Claims Down 8K, Better Than Expected

Advisor Perspectives

In the week ending May 18, initial jobless claims were at a seasonally adjusted level of 215,000, a decrease of 8,000 from the previous week's figure. The latest reading is lower than the forecast of 220,000 jobless claims.

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Capital Group, KKR Team Up to Create Public-Private Fixed-Income Investments

Wealth Management

The two firms announced an exclusive partnership focused on offering hybrid public-private investments across asset classes.

Investing 113
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Realtor.com Reports Active Inventory Up 35.5% YoY; Most Homes For Sale Since July 2020

Calculated Risk

What this means: On a weekly basis, Realtor.com reports the year-over-year change in active inventory and new listings. On a monthly basis, they report total inventory. For April, Realtor.com reported inventory was up 30.4% YoY, but still down almost 36% compared to April 2017 to 2019 levels. Now - on a weekly basis - inventory is up 35.5% YoY. Realtor.com has monthly and weekly data on the existing home market.

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Gorman to Step Down as Morgan Stanley Chairman at End of Year

Wealth Management

Gorman's decision to step down after giving up the CEO role in January is seen as a vote of confidence in Pick’s leadership.

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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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Friday: Durable Goods

Calculated Risk

Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Friday: • At 8:30 AM ET, Durable Goods Orders for April from the Census Bureau. The consensus is for a 0.6% decrease in durable goods orders. • At 10:00 AM, University of Michigan's Consumer sentiment index (Final for May). The consensus is for a reading of 67.4.

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iCapital Starts Using Blockchain for a Private Fund

Wealth Management

iCapital anticipates expanding its digital ledger technology to more funds on its platform later in the year.

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New Home Sales Decrease to 634,000 Annual Rate in April

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: New Home Sales Decrease to 634,000 Annual Rate in April Brief excerpt: Note: there were some seasonal revisions back to 2019, and significant changes to house prices and price distribution in this release. The Census Bureau reports New Home Sales in April were at a seasonally adjusted annual rate (SAAR) of 634 thousand.

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Nine Tips for Advocacy and Policy Change-Focused Philanthropy

Wealth Management

The available advocacy tools aren’t as fraught or complicated as they may seem, and the payoff for communities is huge.

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Navigating Financial Storms: Strategies for Building Resilient Balance Sheets

Speaker: Carolina Aponte - Owner and CEO, Caja Holdings LLC

In today's rapidly changing business environment, building a resilient balance sheet is crucial to the survival of any business. A resilient balance sheet allows a company to withstand financial shocks and adapt to changing market conditions. To achieve this, companies need to focus on key strategies such as maintaining adequate liquidity, managing debt levels, diversifying revenue streams, and prioritizing profitability over growth.

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Stimulus Today Costs Dearly Tomorrow

Advisor Perspectives

Since the pandemic-related fiscal stimulus, the outstanding Federal debt has risen appreciably. In nominal dollar terms, the recent debt surge is mindboggling. However, the increase is on par with the government’s negligence over the last fifty years.

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How I Plan to Raise $10B for Charity

Wealth Management

A convergence of factors creates a tsunami of opportunities for advisors to demonstrate their value.

Planning 117
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Kansas City Fed Manufacturing: Flat Activity in May

Advisor Perspectives

The latest Kansas City Fed Manufacturing Survey composite index increased in May as did future expectations. The composite index came in at -2, up from -8 in April, while the future outlook rose to 6.

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Billionaire Tax Rejected by US Causes Split Ahead of G-7 Meeting

Wealth Management

The United States has pushed back on a global minimum wealth tax on billionaires.

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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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Chicago Fed: Economic Growth Decreased in April

Advisor Perspectives

The Chicago Fed National Activity Index (CFNAI) fell to -0.23 in April from -0.04 in March. Three of the four broad categories of indicators used to construct the index decreased from March and all four categories made negative contributions in April. The index's three-month moving average, CFNAI-MA3, rose to +0.01 in April from -0.17 in March.

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Did Active SMAs Beat Their Passive Counterparts During Q1?

Wealth Management

Large core and large growth managers fared the best, according to Zephyr data.

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Biden Doubles Down on His Student-Loans Mistake

Advisor Perspectives

With his signature student-loan-forgiveness plan struck down by the Supreme Court, President Joe Biden is pushing to cancel debts by other means. His latest proposal aims to relieve nearly 30 million borrowers, on top of those who’ve received forgiveness under previous initiatives.