The Big Picture
FEBRUARY 15, 2024
Last month, I mentioned that CPI inflation measures were based on lagging BLS measures of Owners’ Equivalent Rent (OER). BLS highlighted housing prices, headlining the CPI report as “CPI for all items rose 0.3% in January; shelter up ” As the chart above shows, Shelter was 2/3rds of the increase in the most recent. ( Chart thanks to Michael McDonough ).
Abnormal Returns
FEBRUARY 15, 2024
Books An excerpt from "Private Equity: A Memoir" by Carrie Sun. (wsj.com) An excerpt from "On Thinking for Yourself: Instinct, Education, Dissension" by Caitlin Flanagan. (theatlantic.com) An excerpt from "Get Married: Why Americans Must Defy the Elites, Forge Strong Families, and Save Civilization" by Brad Wilcox. (theatlantic.com) An excerpt from "A Real Right To Vote: How A Constitutional Amendment Can Safeguard American Democracy" by Richard L.
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Wealth Management
FEBRUARY 15, 2024
Anya Coverman, president and CEO of the Institute for Portfolio Alternatives, talks about potential policies at the federal and state levels that could stem advisors’ ability to use alternative investments in client portfolios.
Abnormal Returns
FEBRUARY 15, 2024
Bonds Good luck modeling the 10-year Treasury yield. (capitalspectator.com) What economic report surprises matter for the stock and bond markets? (klementoninvesting.substack.com) Inflation-protected bonds are seeing a backlash. (economist.com) How does race affect the muni bond market? (wsj.com) Funds Do lifecycle investment funds need a refresh? (citywire.com) How long can Grayscale maintain a 1.5% fee for a spot Bitcoin ETF?
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.
Advisor Perspectives
FEBRUARY 15, 2024
Moderating mortgage rates, possible Fed rate cuts, and a lack of exiting inventory have led to increased builder confidence as the National Association of Home Builders (NAHB) Housing Market Index (HMI) rose for a third straight month to its highest level since August. The index is at 48, up 4 points from January and above the forecast of 46.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Wealth Management
FEBRUARY 15, 2024
The integration of documented processes with CRM workflows empowers organizations to streamline operations, enhance customer satisfaction and drive sustainable growth.
Calculated Risk
FEBRUARY 15, 2024
From the Fed: Industrial Production and Capacity Utilization Industrial production edged down 0.1 percent in January after recording no change in December. In January, manufacturing output declined 0.5 percent and mining output fell 2.3 percent; winter weather contributed to the declines in both sectors. The index for utilities jumped 6.0 percent, as demand for heating surged following a move from unusually mild temperatures in December to unusually cold temperatures in January.
Advisor Perspectives
FEBRUARY 15, 2024
Month-over-month nominal retail sales in January were down 0.8% and up 0.65% year-over-year. However, after adjusting for inflation, real retail sales were down 1.1% MoM and down 2.38% year-over-year.
Wealth Management
FEBRUARY 15, 2024
Bob Thornton and Megan Whalen candidly discuss the fallout from First Republic Bank and building a new RIA backed by private equity firm Summit Partners.
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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.
Advisor Perspectives
FEBRUARY 15, 2024
Beginning this year, the SECURE Act 2.0 allows owners of 529 plans to convert unused 529 funds to the beneficiary’s Roth IRA.
Calculated Risk
FEBRUARY 15, 2024
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Friday: • At 8:30 AM ET, Housing Starts for January. The consensus is for 1.470 million SAAR, up from 1.460 million SAAR. • Also at 8:30 AM, The Producer Price Index for January from the BLS. The consensus is for a 0.1% increase in PPI, and a 0.1% increase in core PPI. • At 10:00 AM, University of Michigan's Consumer sentiment index (Preliminary for February).
Wealth Management
FEBRUARY 15, 2024
With its 14th acquisition in as many years, Pathstone is picking up more than 170 individual clients with an average of around $17 million in assets.
Walkner Condon Financial Advisors
FEBRUARY 15, 2024
The past few years have seen a downward trend in charitable giving. In some of the most recent data put together by the Association of Fundraising Professionals and the Fundraising Effectiveness Project , 2023 proved to be a continuation of this trend. As we move into 2024, we must consider the important factors causing this trend and affecting the future of charitable giving.
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
FEBRUARY 15, 2024
You owe it to your clients to prevent these hidden factors of market volatility, portfolio construction, fees and taxes from decimating their wealth.
Million Dollar Round Table (MDRT)
FEBRUARY 15, 2024
By Matt Pais, MDRT Senior Content Specialist If you could respond to a disruptive environment, would you rather do that when the market was strong and your brand had equity, or when your revenue was flat and you were losing clout in the marketplace? The first option is clearly preferred, said Peter Sheahan, who has advised leaders from companies like Apple and Goldman Sachs on innovative business approaches, during his Main Platform presentation at the 2017 Annual Meeting.
Wealth Management
FEBRUARY 15, 2024
These new full-time executives will help Choreo's advisors network and build relationships with CPAs in their market.
The Irrelevant Investor
FEBRUARY 15, 2024
Today’s Compound and Friends is brought to you by Carta: See here for more information on Carta’s equity management tools On today’s show, we discuss: Bitcoin ETFs are a siren song, not proof of concept America’s most expensive home for sale hits the market for $295M Listen here: Favorites: Mr. & Mrs. Smith The Last Green Valley by Mark Sullivan One Love Charts: Richard B.
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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
FEBRUARY 15, 2024
The Regal Wealth Advisors team has joined Summit Financial Networks, the OSJ run by Marshall Leeds.
Walkner Condon Financial Advisors
FEBRUARY 15, 2024
We often tell our clients that we don’t have a crystal ball, we don’t know how the market will perform over the next few months or what specific stocks will be up or down. What we do know is fundamentally how markets work and what previous economic cycles have shown to be true over and over again. We believe that, in the long run, we will see positive investment returns (otherwise we wouldn’t invest!
Advisor Perspectives
FEBRUARY 15, 2024
The Census Bureau's Advance Retail Sales Report for January revealed a 0.8% drop in headline sales compared to December, the largest monthly pull back in consumer spending since March. The latest decline was much larger than the anticipated 0.2% monthly decline. Core sales (ex Autos) also fell short of expectations by decreasing 0.6% in January compared to the expected 0.2% growth.
Random Roger's Retirement Planning
FEBRUARY 15, 2024
Barron's posted an article that by the title was about expenses to consider if you retire early but the article was pretty thin. It made a couple of good points though including that if you are not working but not yet eligible for Medicare then health insurance through healthcare.gov is going to be very cheap. Someone in that situation would probably also pay nothing to very little in long term capital gains if they have a taxable non-qualified investment account.
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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
FEBRUARY 15, 2024
In January, nominal home values increased for a 10th straight months while "real" home values fell for a 5th straight month. Last month's ZHVI came in at $342,941, up 0.12% from the previous month and up 3.13% from one year ago. However, after adjusting for inflation, the real figures are -0.44% month-over-month and -2.92% year-over-year.
Calculated Risk
FEBRUARY 15, 2024
The DOL reported : In the week ending February 10, the advance figure for seasonally adjusted initial claims was 212,000 , a decrease of 8,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 218,000 to 220,000. The 4-week moving average was 218,500, an increase of 5,750 from the previous week's revised average.
Advisor Perspectives
FEBRUARY 15, 2024
In the week ending February 10, initial jobless claims were at a seasonally adjusted level of 212,000, a decrease of 8,000 from the previous week's revised figure. The latest reading is lower than the forecast of 219,000.
Calculated Risk
FEBRUARY 15, 2024
On a monthly basis, retail sales were down 0.8% from December to January (seasonally adjusted), and sales were up 0.6 percent from January 2023. From the Census Bureau report : Advance estimates of U.S. retail and food services sales for January 2024, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $700.3 billion, down 0.8 percent from the previous month , and up 0.6 percent above January 2023.
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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
FEBRUARY 15, 2024
A new life insurance strategy, one that is funded by index-universal life, offers investors so many advantages it deserves to be enthusiastically embraced by the RIA community.
Trade Brains
FEBRUARY 15, 2024
10 Best Bond Brokers in India Investors always seek to earn more and are risk-averse while investing. Early investors typically take more risks at the start of their careers or in their early and late 20s, and as they age, they diversify their portfolio by shifting away from equities and towards fixed-income securities such as bonds and debentures, which carry little or no risk based on the securities purchased and are based on yield return.
Advisor Perspectives
FEBRUARY 15, 2024
The latest Philadelphia Fed manufacturing index jumped into positive territory for the first time in six months, indicating overall expansion. In February, the index rose to 5.2 from -10.6 in January, coming in above the forecast of -8.0. The six-month outlook rose to 7.2.
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