The Big Picture
MARCH 14, 2023
My Two-for-Tuesday morning train reads: • Bank Runs, Now & Then : The Panic of 1907 would probably be more famous if it wasn’t overshadowed by the Great Depression just a couple of decades later. It lasted 15 months and saw GDP decline an estimated 30% (even more than the Great Depression). Commodity prices crashed. Bankruptcies exploded. The stock market fell 50%.
Abnormal Returns
MARCH 14, 2023
Strategy What investing lessons can we cull from the downfall of SVB? (portfoliocharts.com) Safe assets aren't safe if there is a duration mismatch. (fortunesandfrictions.com) Even great companies will 'decline eventually.' (neckar.substack.com) Silicon Valley Bank There is plenty of blame to go around for the downfall of SVB including the pandemic.
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The Reformed Broker
MARCH 14, 2023
Join Downtown Josh Brown and Michael Batnick for another round of What Are Your Thoughts? On this week’s episode, Josh and Michael discuss the biggest topics in investing and finance, including: ►Silicon Valley Humiliated – Sit down, be humble. Maybe less tweets. ►What Now for Banks? – “Interest rates on bank deposits have lagged the Fed” ►Orange County – Fed was finished once O.
Nerd's Eye View
MARCH 14, 2023
Welcome back to the 324th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Nancy Knous. Nancy is the CEO and Founder for Benchmark Wealth Management, an independent RIA affiliated with LPL Financial based in Memphis, Tennessee, that oversees nearly $340 million in assets under management for almost 1000 client households.
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Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
Abnormal Returns
MARCH 14, 2023
Quant stuff Ben Carlson, "The biggest problem I have with most backtests is that it’s always going to be easier to find a strategy that worked well in the past than to discover one that works well in the future." (awealthofcommonsense.com) A round-up of recent research on ETFs including 'On the Anomaly Tilts of Factor Funds.' (capitalspectator.com) On the dangers of data mining and selection bias.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
The Irrelevant Investor
MARCH 14, 2023
It has been 872 days since a bank failed in the United States. This was the longest streak on record. We’re now at day zero. Silicon Valley bank went down on Friday. Signature Bank last night. These are the second and third largest bank failures in history behind Washington Mutual during the GFC. People are scared, mad, and looking for someone to blame.
Steve Sanduski
MARCH 14, 2023
Guest: Gayle Colman , Certified Financial Planner®, Master Integral Coach®, and author of the new book The Body of Money. In a Nutshell: Financial decisions are often framed as a tug of war between the head and the heart. But by paying attention to how the whole body expresses feelings around money, advisors can guide clients past their fears and towards a fulfilling sense of sufficiency and inner knowing. – Gayle Colman and I discuss: Gayle’s early history with the life planning mov
Wealth Management
MARCH 14, 2023
However, advisory firms who did invest in cybersecurity tools reported higher levels of satisfaction with them than in any other software category.
MarketWatch
MARCH 14, 2023
Moody’s Investors Service on Tuesday downgraded the U.S. banking system to negative from stable. The rating agency said the move reflects “the rapid deterioration in the operating environment” following deposit runs and failures of Silicon Valley Bank, Signature Bank and Silvergate Bank. “Although the Department of the Treasury, Federal Reserve and FDIC announced that all depositors of SVB and Signature Bank will be made whole, the rapid and substantial decline in bank depositor and investor con
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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
MARCH 14, 2023
Underlying consumer-price growth accelerated in February, with Americans continuing to experience the sting of rising rents and sticky prices for services. Over the past year, a key housing category — which includes everything from actual rents to what a homeowner would charge in rent to hotel stays — climbed a record 8.2%.
MarketWatch
MARCH 14, 2023
Southwest Airlines Co. LUV on Tuesday unveiled a three-part Tactical Action Plan that aims to booster operational resiliency across the company. The move comes after the regional airline was forced to cancel thousands of flights due to a severe winter storm that other airlines were able to manage. Cascading cancellations left it without staff to man planes, leading to more cancellations and eventually to a far wider-than-expected first-quarter loss.
Calculated Risk
MARCH 14, 2023
Here a few measures of inflation: The first graph is the one Fed Chair Powell has been mentioning. Click on graph for larger image. This graph shows the YoY price change for Services and Services less rent of shelter through February 2023. Services were up 7.6% YoY as of February 2023, unchanged from 7.6% YoY in January. Services less rent of shelter was up 6.9% YoY in February, down from 7.2% YoY in January.
Indigo Marketing Agency
MARCH 14, 2023
The collapse of a bank is a significant event—one that can cause shockwaves throughout the financial industry. In the case of the Silicon Valley Bank failure, it can be particularly alarming for those invested in the technology sector. As a financial advisor, it’s crucial to effectively communicate this event to your clients to help them understand the potential impact it may have on their investments and overall financial well-being.
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.
Calculated Risk
MARCH 14, 2023
Today, in the Calculated Risk Real Estate Newsletter: Q4 Update: Delinquencies, Foreclosures and REO A brief excerpt: In 2021, I pointed out that with the end of the foreclosure moratoriums, combined with the expiration of a large number of forbearance plans, we would see an increase in REOs in late 2022 and into 2023. However, this would NOT lead to a surge in foreclosures and significantly impact house prices (as happened following the housing bubble) since lending has been solid and most home
Wealth Management
MARCH 14, 2023
The Real Deal looks at what’s happening with real estate customers of Signature Bank. A new report from CBRE indicates that a drop in commercial property values might not last long. These are among today’s must reads from around the commercial real estate industry.
Brown Advisory
MARCH 14, 2023
Equity Beat: The Long and Short mhannan Tue, 03/14/2023 - 10:39 This week I’ve been ruminating about the value of and differences between the words ‘time’ and ‘timing’. Both carry significance in society – ‘timing is everything’, yet ‘the two most powerful warriors are patience and time’. In equity investing, on the surface we tend to shun the idea of timing markets (in the “too hard” bucket), and applaud the concept of time in the market due to the beauty of compounding.
Wealth Management
MARCH 14, 2023
During a panel at the IAA Compliance Conference, one CCO worried the demand included in the SEC’s proposed cyber rule didn’t give firms enough time to determine what happened.
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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.
Norman Marks
MARCH 14, 2023
I have seen some unfortunate postings on social media and in the news. Self-appointed experts telling us what happened, why, and whose fault it was. There’s a political battle going on as well, with people blaming federal government administrations, regulators, and so on. I’m not going to get into that.
A Wealth of Common Sense
MARCH 14, 2023
On last week’s Animal Spirits we asked why the Fed’s aggressive rate cuts had yet to break anything in the economy: Sure, the housing market is basically broken, but everything else has held up relatively well…until last week that is. We recorded our show on Tuesday. By the weekend we would see the 2nd and 3rd largest bank failures in U.S. history, including the biggest bank run we’ve ever seen.
Covisum
MARCH 14, 2023
Advisors ask me for help with marketing all the time. They want to know how to grow their businesses. Most of the time, what they really want is a quick fix, and I don't have that. But getting started in the right place can be a big help. Keep reading; you'll find free templates you can copy, paste, and edit. Feel free to use these as a launching point for your practice.
Wealth Management
MARCH 14, 2023
Brookfield Managing Partner Zachary Vaughan spoke with WMRE about the firm’s debt investments and how its partnership with Oaktree has expanded capabilities.
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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!
Brown Advisory
MARCH 14, 2023
Equity Beat: The Long and Short mhannan Tue, 03/14/2023 - 10:39 This week I’ve been ruminating about the value of and differences between the words ‘time’ and ‘timing’. Both carry significance in society – ‘timing is everything’, yet ‘the two most powerful warriors are patience and time’. In equity investing, on the surface we tend to shun the idea of timing markets (in the “too hard” bucket), and applaud the concept of time in the market due to the beauty of compounding.
Wealth Management
MARCH 14, 2023
The head of Brookfield Oaktree Wealth Solutions discusses the RIA landscape and how alternatives have shifted from institutional to individual investors.
The Irrelevant Investor
MARCH 14, 2023
Today’s show is sponsored by Invesco QQQ: See here for more information on investing in the Nasdaq 100 On today’s show, we discuss: The demise of Silicon Valley Bank Thoughts on the bank bailouts NYPD called to Silicon Valley Bank branch as depositors attempt to pull cash S&P SPIVA US Scorecard The hotel cabanas that cost more than most rooms Three million US households making over $150,000 are still.
Wealth Management
MARCH 14, 2023
Seventy "sustainable" funds held SVB stock, given the bank's funding of innovative climate technology, according to the research firm.
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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.
Million Dollar Round Table (MDRT)
MARCH 14, 2023
By Ed Tate You can’t connect with prospects or clients if they’re not focused on what you’re saying. You can capture your audience’s attention, though, whether it’s in a client meeting or in front of a crowd of thousands, with these simple tips. The power of stories Use stories as opposed to statistics whenever possible. Substitute statistics for stories about people because stories are sticky.
Wealth Management
MARCH 14, 2023
Revised Form 1040 lays the foundation for a new integrated regulatory framework around this asset class.
MarketWatch
MARCH 14, 2023
First Republic Bank’s FRC A-minus rating was placed on review for a possible downgrade by S&P Global Ratings on Tuesday, with the agency concerned about volatile deposit flows in the wake of the government’s closure of two banks in the last week. “Consequently, we expect the bank to increase wholesale borrowings to shore up its on-balance-sheet liquidity, which would likely weigh on its already modest profitability,” the agency said in a statement.
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