The Big Picture
SEPTEMBER 28, 2023
I have been watching various sentiment polls and Right/Wrong Track questionnaires with detached bemusement. Bemused because they are so silly, and detached because I know I can’t change human nature. What I can do is share a few modest insights; hopefully, these will allow you to gain a fresh perspective you might not have otherwise considered or perhaps even garner a better understanding of what is happening right here and now.
Abnormal Returns
SEPTEMBER 28, 2023
Books An excerpt from "Optimal Illusions: The False Promise of Optimization" by Coco Krumme. (engadget.com) An excerpt from Michael Wolff's new book, "The Fall: The End of Fox News and the Murdoch Dynasty." (theankler.com) A Q&A with Taylor Lorenz author of "Extremely Online: The Untold Story of Fame, Influence, and Power on the Internet." (vox.com) Health Is the 'war on cancer' a failure?
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Wealth Management
SEPTEMBER 28, 2023
The outgoing CEO of Orion Advisor Solutions shares his journey from the founding of the company, the firm’s growth over the years and perspectives on the future of wealth management, technology and AI.
Abnormal Returns
SEPTEMBER 28, 2023
Strategy Understanding seasonality can enlighten your view of the stock market. (theirrelevantinvestor.com) Why it is so hard to be a truly long term investor. (behaviouralinvestment.com) Why traditional diversification isn't enough. (morningstar.com) Finance M&A volume has fallen off the table. (ft.com) Why auto insurance premiums are soaring. (barrons.com) How much is Tesla ($TSLA) worth?
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.
Wealth Management
SEPTEMBER 28, 2023
Preferred equity providers are increasingly looking to close financing gaps in the multifamily sector, according to Multi-Housing News. CoStar News looks into how the proliferation of AI is driving data center growth beyond their usual markets. These are among today’s must reads from around the commercial real estate industry.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Trade Brains
SEPTEMBER 28, 2023
Top Indian Stocks Held By Societe Generale : Societe Generale was established in India in 1978. Today, Societe Generale operates through its local branches based in Mumbai and Delhi serving both Indian corporates and financial institutions, helping them to expand their footprint outside of India as well as global clients of Societe Generale, from Europe, US, Middle East, Africa, and Asia-Pacific, to develop their operations in India Societe Generale’s expertise ranges from corporate and investme
The Irrelevant Investor
SEPTEMBER 28, 2023
Cullen Roche once said, “The stock market is the only market where things go on sale and all the customers run out of the store… ” This behavior might seem irrational, but it’s understandable when you consider how averse people are to losing money. The fastest way to make the pain disappear is to sell, regardless of the irreparable damage you may be doing to your long-term returns.
Trade Brains
SEPTEMBER 28, 2023
India can become the 3rd largest economy by 2027 and even the 2nd largest by 2075, surpassing the US. But hold on! Isn’t it very soon to celebrate? Here’s a truth, a fact, or, you can say, a reality, that we are not yet ready to accept. The increasing youth unemployment! 66% of India’s population (that’s 808 million people) is under the age of 35. Now, that’s a huge number of young, talented people, and a great opportunity for the country to grow its economy with multitalented and skilled
Wealth Management
SEPTEMBER 28, 2023
Former broker Megurditch Patatian allegedly recommended 81 purchases totaling more than $7.8 million of the high-risk product over the course of several years, according to regulators.
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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.
Carson Wealth
SEPTEMBER 28, 2023
By Ryan Detrick, Chief Market Strategist, Carson Group “I don’t make jokes. I just watch the government and report the facts.” -Will Rogers As you’ve probably heard by now, the government is on the brink of shutting down unless Congress connects on a Hail Mary to pass a dozen spending bills before the September 30 funding deadline. The odds are this won’t happen and on October 1 the government will be at least partially shutdown.
NAIFA Advisor Today
SEPTEMBER 28, 2023
NAIFA and Sales Activity Management , Inc. (SAM) have completed an educational and affinity partnership agreement, under which the popular SAM Planner can be obtained by NAIFA members at a preferred rate. Additionally, Sales Activity Management, Inc. will become a sponsor of NAIFA’s Talent Development Center of Excellence to collaborate on blog posts, webinars, and other tools focused on enhancing individual advisor/agent performance.
Wealth Management
SEPTEMBER 28, 2023
According to the latest study, roughly one-third of HNW investors don’t work with an advisor. Learn how to leverage the sizeable opportunity to attract more of them to your practice.
A Wealth of Common Sense
SEPTEMBER 28, 2023
A reader asks: I just turned 27 and I make $260k at a job that I just started less than a year ago. It was a grind to get here and then the job itself is very stressful. I dread going to work in the morning, but I deal with it for the money and save/invest the vast majority of it so I don’t have to do this forever. For context I have ~$400k total in investments right now.
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
SEPTEMBER 28, 2023
MarketCounsel founder Brian Hamburger joins estate planning tech platform Wealth.com as a strategic advisor.
The Irrelevant Investor
SEPTEMBER 28, 2023
Today’s Compound and Friends is brought to you by Wealth.com: See here for more information on estate planning solutions for financial advisors. On today’s show, we discuss: META’s new smart glasses The FTC suit against Amazon FTC sues Amazon for illegally maintaining monopoly power Amazon takes a big stake in the AI start-up Anthropic Tech stocks weigh on major indexes OpenAI seeks new valuatio.
Wealth Management
SEPTEMBER 28, 2023
Kraken has applied with FINRA for a broker/dealer license to allow it to trade US-listed stocks and ETFs, targeting a 2024 launch.
Calculated Risk
SEPTEMBER 28, 2023
From the NAR: Pending Home Sales Tumbled 7.1% in August Pending home sales slid 7.1% in August , according to the National Association of REALTORS®. All four U.S. regions posted monthly losses and year-over-year declines in transactions. "Mortgage rates have been rising above 7% since August, which has diminished the pool of home buyers," said Lawrence Yun, NAR chief economist.
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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
SEPTEMBER 28, 2023
The money manager says sustainable investing is here to stay, but ESG-labeled index-tracking portfolios are the wrong path.
Advisor Perspectives
SEPTEMBER 28, 2023
The National Association of Realtors® (NAR) released the latest monthly data for its pending home sales index. The index plummeted 7.1% in August to 71.8, a larger decline than the expected -0.8% decrease. This is the lowest reading for the index since April 2020 and is the second lowest figure in the historical series. Pending home sales are down 18.7% compared to one year ago.
Wealth Management
SEPTEMBER 28, 2023
Schwab cut the fees on SCYB and SCHP, bringing all nine of its fixed-income funds to three basis points or below.
Calculated Risk
SEPTEMBER 28, 2023
The DOL reported : In the week ending September 23, the advance figure for seasonally adjusted initial claims was 204,000 , an increase of 2,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 201,000 to 202,000. The 4-week moving average was 211,000, a decrease of 6,250 from the previous week's revised average.
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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!
Advisor Perspectives
SEPTEMBER 28, 2023
Real gross domestic product increased at an annual rate of 2.1% in Q2 2023, according to the third estimate. The latest estimate is consistent with growth expectations and is a slightly slower pace than the Q1 2023 GDP final estimate of 2.2% (revised).
Wealth Management
SEPTEMBER 28, 2023
Harness “digital” to improve the 6-steps of the client experience.
Advisor Perspectives
SEPTEMBER 28, 2023
The MOVEit breach affected the clients of every wealth manager in America.
Calculated Risk
SEPTEMBER 28, 2023
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Friday: • At 8:30 AM ET, Personal Income and Outlays, August 2023. The consensus is for a 0.5% increase in personal income, and for a 0.4% increase in personal spending. And for the Core PCE price index to increase 0.2%. PCE prices are expected to be up 3.5% YoY, and core PCE prices up 3.9% YoY. • At 9:45 AM, Chicago Purchasing Managers Index for September.
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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.
Advisor Perspectives
SEPTEMBER 28, 2023
Five out of the 12 Federal Reserve Regional Districts currently publish monthly data on regional manufacturing: Dallas, Kansas City, New York, Richmond, and Philadelphia. The September average of the five districts is -6.5, down from the previous month.
Calculated Risk
SEPTEMBER 28, 2023
Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report from Jiayi Xu: Weekly Housing Trends View — Data Week Ending Sep 23, 2023 • Active inventory declined, with for-sale homes lagging behind year ago levels by 3.7%. During the past week, we observed the 14th successive drop in the number of homes available for sale when compared to the previous year.
Advisor Perspectives
SEPTEMBER 28, 2023
In the week ending September 23, initial jobless claims inched up to a seasonally adjusted level of 204,000. This is an increase of 2,000 from the previous week's revised figure of 202,000 and lower than the forecast of 215,000.
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