The Big Picture
OCTOBER 23, 2023
The chart in this morning’s reads shows what it is going to cost to fund the interest payments on the federal debt. It’s gone vertical as rates have moved from effectively 0 to over 5%. When rates were zero all of corporate America refinanced, lowering the cost of their debt to historically low levels. Households did the same; today 61% of homeowners with a mortgage are paying 4% or less in interest.
Nerd's Eye View
OCTOBER 23, 2023
Many financial advisors take pride in the comprehensive nature of the advice they provide to clients and use the variety of services offered as a point of differentiation between themselves and other types of advisors. Though, at some point, covering a large number of financial planning topics can eat into an advisor's time, which is problematic if clients won't pay substantially more to receive that more comprehensive advice.
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The Big Picture
OCTOBER 23, 2023
My back-to-work morning train WFH reads: • Charles Schwab Has Had a Terrible Year. The Surprising Reason the Brokerage King Won’t Be Dethroned. For some advisors, the move to Charles Schwab from TD Ameritrade didn’t go smoothly. Chances are, they’ll stick around anyway. ( Barron’s ) • A Recession Is No Longer the Consensus : In WSJ survey, economists lower recession probability below 50% and say Fed is finished raising interest rates. ( Wall Street Journal ) but see Car Owners
Abnormal Returns
OCTOBER 23, 2023
EVs Solid-state batteries would upend the EV calculus. (on.ft.com) States are looking to pay for roads as EVs drag down gasoline taxes. (wsj.com) How the war on the 'war on cars' became a rallying cry. (oversharing.substack.com) Transport E-bikes are more than just a souped-up bike. (theatlantic.com) Why airlines are banking on sustainable aviation fuel to decarbonize.
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.
Carson Wealth
OCTOBER 23, 2023
A late week sell-off saw stocks barely break their early October lows, with the S&P 500 now down 7.9% from the late-July peak. Although the weakness the past few months hasn’t been fun for investors, it is important to note that stocks are still up more than 10% for the year and a fourth-quarter rally is still expected. October volatility continued, but a major late-October low could be forming.
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NAIFA Advisor Today
OCTOBER 23, 2023
NAIFA is proud to announce that John A. Davidson , LUTCF, FSS, President and CEO of Davidson Insurance & Financial Services , Inc., in Thousand Oaks, CA, is the 2023 recipient of NAIFA’s Terry Headley Lifetime Defender Award.
Abnormal Returns
OCTOBER 23, 2023
Energy Chevron ($CVX) is buying Hess ($HES). (reuters.com) Energy deals are happening but without much in the way of premiums. (washingtonpost.com) Banking Regional banks are feeling the pain of higher deposit rates. (wsj.com) Big banks are next. (semafor.com) Companies Netflix ($NFLX) is playing with fire with its price hikes. (lefsetz.com) Just how big is Costco's ($COST) clothing business?
Advisor Perspectives
OCTOBER 23, 2023
For a fleeting moment this month, investment bankers in leveraged finance — the lucrative lending that oils the wheels of M&A and feeds the $1.3 trillion market for collateralized loan obligations — had rare cause for cheer.
Abnormal Returns
OCTOBER 23, 2023
EVs States are looking to pay for roads as EVs drag down gasoline taxes. (wsj.com) How the war on the 'war on cars' became a rallying cry. (oversharing.substack.com) Transport E-bikes are more than just a souped-up bike. (theatlantic.com) Why airlines are banking on sustainable aviation fuel to decarbonize. (vox.com) Environment This Arizona town wants to import desalinated water from Mexico.
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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.
Trade Brains
OCTOBER 23, 2023
Best Stocks Held By HDFC Small Cap Fund : On April 3, 2008, the HDFC Small Cap Fund was launched. It is a mutual fund plan that invests in small-cap firms. The fund primarily aims to offer long-term capital growth by investing in small-cap stocks. The investing objective of the fund is to discover firms with strong development potential that will profit from new trends and changing consumer preferences.
Wealth Management
OCTOBER 23, 2023
Rockefeller Global Family Office has announced its fourth recruit in three weeks, while Freestone Capital Management attracted an advisor from another RIA.
NAIFA Advisor Today
OCTOBER 23, 2023
Advisor Today , the official publication of the National Association of Insurance and Financial Advisors (NAIFA), is pleased to announce the winners of its 2023 4 Under 40 awards: Matthew Cloutier , CRC, RFC, of Golden Wealth Solutions ( Osaic ) in Littleton, CO, loyal member since 2022; Jennifer Lewis of Wise Medicare Insurance Solutions ( United Healthcare ) in Rolla, MO, loyal member since 2022; Joseph Spinelli , CLU, FICF, LUTCF, of the Jim Spinelli Agency ( Knights of Columbus ) in Tallahas
Wealth Management
OCTOBER 23, 2023
Non-traded alternative investment fundraising has reached more than $50 billion for the year, through the end of September, according to Robert A. Stanger & Co. More concerns have arisen about the potential broader fallout of WeWork’s struggles. These are among the must reads from the real estate investment world to start the new week.
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.
The Irrelevant Investor
OCTOBER 23, 2023
In a couple of weeks, November 6th to be exact, I’m visiting the city of Charlotte, North Carolina. I will be joining twenty colleagues, three of whom are based in the city, to meet with clients, talk with prospective clients, and sit down with financial advisors who want to learn what it’s like to be an employee at Ritholtz Wealth Management.
Integrity Financial Planning
OCTOBER 23, 2023
Estate planning can be difficult to think about, let alone plan for. Maybe you’ve avoided putting together a concrete plan because you don’t want to think too far into the future when it’s time to pass on what you have. Or maybe you don’t think an estate plan is necessary because you’re not rich enough to warrant one. The truth is that you will probably leave behind things for your family that are important financially and emotionally.
Wealth Management
OCTOBER 23, 2023
The firm has also launched a new capital solutions program, as it kicks off its annual ConnectED conference this week.
Alpha Architect
OCTOBER 23, 2023
In this study, we introduce a novel measure of information content (Human-AI Differences, HAID) by exploiting the discrepancy between answers to questions at earnings calls provided by corporate executives and those given by several context-preserving Large Language Models (LLM) such as ChatGPT, Google Bard, and an open source LLM. Executives vs. Chatbots in Earnings Conference Q&A was originally published at Alpha Architect.
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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
OCTOBER 23, 2023
Interest-rate volatility should “remain quite high, at least through the mid-point of next year, according to the head of macro strategy at Wells Fargo Securities.
Cornerstone Financial Advisory
OCTOBER 23, 2023
Weekly Market Insights: Stocks Retreat Despite Solid Earnings Presented By Cornerstone Financial Advisory, LLC Rising bond yields and uncertainty over whether this was the close of the Fed’s rate-hike cycle dragged markets lower last week despite solid corporate earnings results. The Dow Jones Industrial Average sank 1.61%, while the Standard & Poor’s 500 fell 2.39%.
Wealth Management
OCTOBER 23, 2023
Applying a 2% rate to the wealth of the world’s 2,750 billionaires could raise some $250 billion a year.
Darrow Wealth Management
OCTOBER 23, 2023
Of all the types of assets, real estate is usually the most emotional. It is, after all, difficult to make memories in a mutual fund (which is a feature of diversified investments, not a bug). So when you inherit a house from a parent, it’s important to recognize the emotional attachment will likely influence your decision-making. Before deciding what to do with an inherited home, consider all the angles and potential outcomes — particularly if you inherited the house with other family mem
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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!
Wealth Management
OCTOBER 23, 2023
Rudy Adolf is the last remaining founder to leave his executive role in the wake of Focus’ sale to CD&R.
A Wealth of Common Sense
OCTOBER 23, 2023
Today’s Talk Your Book is brought to you by J.P. Morgan Asset Management: See here for more information on JPMorgan Hedged Equity Laddered Overlay ETF and here for JPMorgan Equity Premium Income ETF. We had Hamilton Reiner, MD, PM, and Head of US Equity Derivatives at J.P. Morgan Asset Management on the show to discuss their latest hedged equity strategy.
Wealth Management
OCTOBER 23, 2023
Active asset managers have been bleeding cash, and strategies to stem the outflows haven't had much effect. Many may not survive a bear market.
XY Planning Network
OCTOBER 23, 2023
Financial advisors play a crucial role in managing clients' finances and ensuring their financial well-being. However, when it comes to bookkeeping, mistakes can be made that could have significant consequences for you and your clients. Here are seven common bookkeeping mistakes to avoid as a financial advisor.
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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.
Wealth Management
OCTOBER 23, 2023
As RPAs go after participants and need data, firms like iJoin provide options.
Advisor Perspectives
OCTOBER 23, 2023
Five of the eight indexes on our world watch list posted gains through October 23, 2023. Tokyo's Nikkei 225 finished in the top spot with a YTD gain of 18.80%. The U.S.'s S&P 500 finished in second with a YTD gain of 10.27% while India's BSE SENSEX finished in third with a YTD gain of 5.35%.
Clever Girl Finance
OCTOBER 23, 2023
Does it feel like the holiday season sneaks up on you every year? Instead of getting caught with a cash shortage come year-end, it’s a great idea to put money aside earlier in the year for gifts and travel. That said, you can leverage Christmas Club Accounts to automate your savings to make the holidays a lot more affordable! Table of contents Do people still use Christmas clubs?
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