Nerd's Eye View
MAY 15, 2023
The financial advisory industry has faced many purported technological ‘threats’ over the past several decades. From the introduction of computers to the rise of the internet to the emergence of ‘robo-advisors’, there has been no shortage of innovations that would allegedly reduce the need for consumers to work with (human) financial advisors.
Abnormal Returns
MAY 15, 2023
Energy Gasoline prices are down some 30% from their peak (axios.com) European natural gas prices are below pre-war levels. (qz.com) Strategy A magazine cover gone wrong, the case of Cisco Systems ($CSCO). (ritholtz.com) Models are always a starting point, not an end in themselves. (awealthofcommonsense.com) Companies How Sea Ltd. turn things around by cutting costs.
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The Big Picture
MAY 15, 2023
My back-to-work morning train WFH reads: • Ken Griffin’s Hand-Picked Math Prodigy Runs Market-Making Empire : Citadel Securities CEO Peng Zhao left for college at age 14, caught Griffin’s eye early in his career and built systems now mopping up market share. ( Businessweek ) • The sobering stats behind ‘past performance is no guarantee of future results’ : Most top performing managers fail to stay on top, according to S&P Dow Jones Indices.
Abnormal Returns
MAY 15, 2023
Podcasts Christine Benz and Jeff Ptak talk with Michael Kitces about tax-efficient retirement drawdown, and where to stash cash in a higher-interest-rate era. (morningstar.com) Frazer Rice talks with Jane Mintz about dealing with complex behavior issues. (podcasts.apple.com) Envestnet Why does Envestnet ($ENV) want a piece of the custody business? (riabiz.com) Envestnet ($ENV) has launched its own ETFs.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Calculated Risk
MAY 15, 2023
From the NY Fed: Total Household Debt Reaches $17.05 trillion in Q1 2023; Mortgage Loan Growth Slows The Federal Reserve Bank of New York's Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit. The Report shows an increase in total household debt in the first quarter of 2023, increasing by $148 billion (0.9%) to $17.05 trillion.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Wealth Management
MAY 15, 2023
Many companies have turned to hot desking as they reduce office space, but many employees hate it, according to report from The Wall Street Journal. Vornado Realty may be on the brink of defaulting on $2.6 billion in loans, according to The Real Deal. These are among the must reads from around the real estate investment world to kick off the week.
XY Planning Network
MAY 15, 2023
If you’re thinking about diving into marketing automation for your RIA, or building out a marketing funnel for your financial planning firm, you’re in the right place. Part of a robust marketing funnel is a tech stack that does 3 things: Gives you time back in the day Automates important touchpoints with your leads Doesn’t cost more than it’s worth.
Wealth Management
MAY 15, 2023
AI's certainly a hot topic, but Envestnet is focused less on ChatGPT and more on how data insights can help advisors run their businesses, says Envestnet's chief product officer.
Alpha Architect
MAY 15, 2023
Momentum crashes are a blight on the performance of momentum strategies. Although there has been a fair amount of research on the topic, few practical solutions have emerged to mitigate the impact on portfolios. In this study, the authors document the outperformance of stocks, in terms of momentum, far away from their peak position relative to stocks very near their peaks.
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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.
Wealth Management
MAY 15, 2023
Envestnet co-founder and CEO Bill Crager describes how the company is investing heavily to assist advisors deal with retirement from all sides.
Advisor Perspectives
MAY 15, 2023
When planning for retirement, taking even the smallest risk can be life changing. Discover why financial advice during retirement planning is crucial with Harold Evensky.
Wealth Management
MAY 15, 2023
The majority of Kylie Jenner's wealth comes from the sale of 51% of her cosmetics company for $600 million.
Calculated Risk
MAY 15, 2023
From the MBA: Share of Mortgage Loans in Forbearance Decreases to 0.51% in April The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 4 basis points from 0.55% of servicers’ portfolio volume in the prior month to 0.51% as of April 30, 2023. According to MBA’s estimate, 255,000 homeowners are in forbearance plans.
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.
Wealth Management
MAY 15, 2023
IPA’s Anya Coverman talks redemption requests, regulatory pressures and growth outlook for non-traded REITs, BDCs, interval funds and other vehicles.
A Wealth of Common Sense
MAY 15, 2023
Today’s Talk Your Book is presented by Fidelity Digital Assets: On today’s show, we are joined again by Jack Neureuter, Research Analyst at Fidelity Digital Assets to discuss listener mailbag questions on crypto and Bitcoin. On today’s show, we discuss: What is the best way to buy Bitcoin? What to do with a high concentration of crypto in your portfolio Crypto v AI applications What drives the price of Bitcoin.
Wealth Management
MAY 15, 2023
The top five best-performing non-leveraged ETFs in 2023 are all crypto-linked, led by the Valkyrie Bitcoin Miners ETF (WGMI)’s 119% rally.
MarketWatch
MAY 15, 2023
The World Health Organization said Monday it is advising people not to use non-sugar sweeteners for weight control, warning that they may increase the risk of type 2 diabetes, cardiovascular diseases and mortality in adults. The agency said a systematic review of the available evidence suggests non-sugar sweeteners do not confer any long-term benefit in reducing body fat in adults or children.
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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.
Wealth Management
MAY 15, 2023
401(k) advisors and providers have yet to realize their real competition for plan participants.
MarketWatch
MAY 15, 2023
3M Co. MMM said Monday it has fired Michael Vale, group president and chief business and country officer, for cause. The dismissal is due to “inappropriate personal conduct and violation of company policy, unrelated to the company’s operations and financial performance,” the company said in a brief statement. The diversified industrial company and maker of PostIts has started a search for a successor.
Steve Sanduski
MAY 15, 2023
Guest: ChatGPT , a natural language processing tool driven by AI technology that allows you to have human-like conversations and complete a variety of other mind-blowing things. This artificial intelligence (AI) chatbot developed by OpenAI was released in November 2022 and has been upgraded since then. In a Nutshell: With all the excitement and interest around artificial intelligence, particularly ChatGPT, I thought it was time I did an episode on AI.
MarketWatch
MAY 15, 2023
Mullen Automotive Inc. MULN gave a business update before market open Monday, with the electric vehicle maker providing details of its latest factory developments and a recently-announced $15.8 million contract with MGT Lease Company. The fleet sales and leasing provider took delivery of Mullen’s EV Cargo Vans earlier this year. “The company subsequently signed a vehicle purchase agreement, as announced on May 11, 2023, for 250 all-electric commercial Class 3 Cab Chassis EV Trucks,” said Mullen
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All accounting teams know what it is like to dread the inevitable month-end scaries. If there was a way to feel less burdened and maybe even a little enthusiastic to work on your month-end close and reconciliation process, would you do it? No, don't answer that, of course you would! Automate your month-end close process by up to 40% with SkyStem's ART and see how much more alive you feel!
Random Roger's Retirement Planning
MAY 15, 2023
The current Barron's has an article looking at whether healthcare sector stocks might be cheap. The following passage caught my eye. The reason it interested me is that the managers of the Jensen Quality Growth Fund have owned Stryker for decades. I first heard about it from former Jensen manager Robert Zagunis going back to the 90's. I believe in holding onto stocks and narrower ETFs for very long periods of time when possible, meaning when something bought turns out to be worthy of holding ont
MarketWatch
MAY 15, 2023
The U.S. economy will avoid recession this year and next, according to the latest European Commission forecast. The forecast is for the U.S. economy to grow 1.4% in 2023 and 1% in 2024, against its previous estimate that the U.S. will grow 0.7% in 2023 and 1.7% in 2024. The new forecast came as part of the spring 2023 forecast which is that the eurozone will grow 1.1% this year and by 1.6% next year, which both were improvements from its last estimate, owing to a better energy-price outlook and
Advisor Perspectives
MAY 15, 2023
Nearly a year ago, I – provisionally and with qualifications – declared I-Bonds to be the fabled “free lunch” due to the remarkable 9.62% rate they were paying. That rate came down – a lot – so should you still buy them?
MarketWatch
MAY 15, 2023
Columbia Care Inc.’s stock CCHWF is up nearly 10% after the cannabis company’s first-quarter revenue beat analyst forecasts on Monday. Columbia Care said its first-quarter loss widened to $37.34 million, or 9 cents a share, from a loss of $26.64 million, or 7 cents a share, in the year-ago quarter. Analysts were expecting a loss of 8 cents a share, according to estimates compiled by FactSet.
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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.
David Nelson
MAY 15, 2023
David Nelson, CFA CMT Artificial intelligence is capturing the hearts and minds of investors. And why not? Real intelligence on so many levels is missing in action. As humans we seem to stumble from one bad decision to the next. What could be more exciting than a new technology that takes some of the burden off our shoulders? “It’s different this time” Bloomberg Data Most market peaks come on the heels of an irrational mindset over some technology or investment theme that s
MarketWatch
MAY 15, 2023
House Speaker Kevin McCarthy on Monday said he’s still “far apart” from President Joe Biden on reaching a deal to raise the U.S. debt ceiling. Reports have said Biden, McCarthy and other leaders are set to meet Tuesday on the debt ceiling and budget, and on Sunday, Biden said “I think [negotiations] are moving along, hard to tell. We have not reached the crunch point yet.
Advisor Perspectives
MAY 15, 2023
Household debt increased by $148 billion (0.9%) to $17.05 trillion in Q1 2023. Mortgage balances climbed the highest to $12.04 trillion while auto loan and student loan balances increased to $1.56 trillion and $1.60 trillion, respectively. Credit card balances remained flat at $986 billion.
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