Fri.Mar 24, 2023

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Realtor.com Reports Weekly Active Inventory Up 59% YoY; New Listings Down 20% YoY

Calculated Risk

Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report released yesterday from Sabrina Speianu: Weekly Housing Trends View — Data Week Ending Mar 18, 2023 • Active inventory growth continued to climb with for-sale homes up 59% above one year ago. Inventories of for-sale homes rose, but at a slightly slower pace than last week’s gain, as new sellers on the market held back more.

Sales 356
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Advising Clients on Exit Planning Part 4

Wealth Management

De-risking the business is key to ensuring the client is left on financially solid ground post sale.

Clients 304
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Q1 GDP Tracking: Wide Range

Calculated Risk

Note: The FOMC is projecting Q4-over-Q4 GDP growth of 0.0% to 0.8%. Here is a table of the low, middle and high FOMC projections for Q2 through Q4 based on the GDP tracking estimates below for Q1. Estimated FOMC Projection Q2 - Q4 Q1 Low 0.0% Middle 0.4% High 0.8% BofA 0.8% -0.3% 0.3% 0.8% Goldman 2.4% -0.8% -0.3% 0.3% GDPNow 3.2% -1.0% -0.5% 0.0% Based on the GDP tracking estimates, the FOMC's GDP projection for Q4-over-Q4 and the FOMC unemployment projections, many analysts pointed out that th

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Tax Court Rules Debts Weren’t Deductible from Decedent’s Estate

Wealth Management

Children received taxable gifts when they purchased property at discount.

Taxes 289
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2025 Industry Index: How Top Advisors Are Scaling Smarter (and Faster) This Year

Where are top advisors focusing in 2025? AcquireUp’s 2025 Industry Index reveals it all. Based on insights from 200+ financial professionals nationwide, discover why 74% say seminars and referrals deliver the best ROI, how automation is helping advisors scale faster, and why only 8% are tapping into niche marketing (a major growth opportunity!). Whether you're refining your client acquisition strategy or scaling your practice, this report gives you the real-world data, benchmarks, and action ste

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Weekend Reading For Financial Planners (March 25-26)

Nerd's Eye View

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week’s edition kicks off with the news that the CFP Board of Standards launched its 1st ad campaign, dubbed "It’s Gotta Be A CFP", following its transition to a 501(c)(6) organization. In a change from previous campaigns, the first ad directly recommends that consumers seek out a CFP professional for financial advice, and future ads could more directly explain the benefits of earning the CFP marks.

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The WealthStack Podcast: Solving Integration Challenges Is Now a Reality

Wealth Management

Milemarker CEO Kyle Van Pelt, CEO discusses how advisors can avoid technological mistakes and create a seamless experience.

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More Trending

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RIA Roundup: Wealthspire Advisors to Acquire Heron Wealth in NYC

Wealth Management

No fewer than seven M&A deals were announced this week, while three new RIAs launched on industry platforms and three key hires were made in support of growth.

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Final Look at Local Housing Markets in February

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: Final Look at Local Housing Markets in February A brief excerpt: The big story for February existing home sales was the sharp year-over-year (YoY) decline in sales, and also the rebound from the low level of sales in December and January. Also, active inventory increased sharply YoY, but is still historically low - and new listings are down YoY.

Marketing 162
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Wealth Manager Is Building Advisory Team to Assist Gen Z Heirs

Wealth Management

Geneva-based Brainvest is expanding its offerings to assist a new generation of heirs who live around the world and sometimes spend beyond their means.

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Friday links: a peculiar balance

Abnormal Returns

Markets The stock market bottomed three years ago in the early days of the pandemic. (demystifyingmarkets.com) Financial stress has increased but is not at GFC-type levels. (econbrowser.com) Banks The banking crisis could play out in tighter credit for small and mid-sized businesses. (wsj.com) Why selling SVB has proven to be a difficult task. (theinformation.com) Further banking consolidation could create 'banking deserts.

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Data Talks, CFOs Listen: Why Analytics Are Key To Better Spend Management

Speaker: Claire Grosjean, Global Finance & Operations Executive

Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.

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Citi Sues Morgan Stanley Wealth Defector Over $636M Book

Wealth Management

Citi sued Steven I.

Clients 227
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Jill On Money

The Reformed Broker

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Jill Schlesinger, and Downtown Josh Brown discuss the Fed decision aftermath, unlimited FDIC insurance for banks, the SEC’s crypto crackdown, banning TikTok, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!

Insurance 130
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The Pros Fail to Meet the Moment With Bond ETFs

Wealth Management

Actively managed fixed-income ETFs stumbled last year and only 40% are beating their benchmarks in 2023.

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The First Investment I Ever Made

A Wealth of Common Sense

I was always a saver growing up. Whenever I got money for birthdays, holidays, church stuff, my allowance, or summer jobs, I would sock it away. At first that was in a secret compartment in a wallet in the top drawer of my dresser. In high school, I finally opened up my first bank account. My first job was as a bus boy. I probably saved a thousand dollars that summer.

Investing 127
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What Your Financial Statements Are Telling You—And How to Listen!

Speaker: David Worrell, CFO, Author & Speaker

Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.

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Modernizing Trust Technology Solutions: Exceeding Your Client’s Evolving Expectations

Wealth Management

Tuesday, April 25, 2023 | 2:00 PM Eastern Daylight Time

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: Marlboro cigarettes maker Altria looks to double its smoke-free revenue in 5 years, and considers expanding to cannabis and caffeine pouches, WSJ reports

MarketWatch

Marlboro cigarette parent Altria Group Inc. MO said it is considering expanding into non-nicotine offering, including cannabis and caffeine pouches, according to a report in The Wall Street Journal. Altria had said at its Investor Day Thursday that it targets at least 35% growth in U.S. smoke-free volumes by 2028, and to double total U.S. smoke-free revenue to $5 billion over the same time, with $2 billion coming from “innovative” smoke-free products, according to a FactSet transcript.

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Wonder and Wander Through Enriching Museums

Integrity Financial Planning

Going to museums can be a truly joyful experience that offers a wealth of cultural, historical, and artistic treasures. Here are some of the reasons why visiting museums can be such a rewarding experience. Cultural enrichment : Museums offer a unique opportunity to learn about different cultures and gain a deeper understanding of the world around us.

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: Deutsche Bank shares slump 8%

MarketWatch

Deutsche Bank shares XE:DBK slumped 8% in Frankfurt trade on Friday, as worries over bank sector health focus on another global systemically important bank. Deutsche Bank’s 5-year credit-default swaps widened on Thursday, in what Reuters reported was the largest one-day rise in its history. Its AT1 bonds have tumbled in value after Switzerland wiped out Credit Suisse’s securities after the state-backed takeover by UBS.

Banking 76
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How to Avoid Pitfalls In Automation: Keep Humans In the Loop

Speaker: Erroll Amacker

Automation is transforming finance but without strong financial oversight it can introduce more risk than reward. From missed discrepancies to strained vendor relationships, accounts payable automation needs a human touch to deliver lasting value. This session is your playbook to get automation right. We’ll explore how to balance speed with control, boost decision-making through human-machine collaboration, and unlock ROI with fewer errors, stronger fraud prevention, and smoother operations.

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How Wealthfront Offers $3M of FDIC Insurance

Wealthfront

At Wealthfront, we work tirelessly to keep your savings safe. We know you’re saving for important life milestones and getting ready to invest, so it’s crucial that your money is well protected and available when you need it. That’s why our Cash Account offers up to $3 million in FDIC insurance through our partner banks […] The post How Wealthfront Offers $3M of FDIC Insurance appeared first on Wealthfront Blog.

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: 2-year Treasury yield heads toward its biggest three-week decline since November 1987

MarketWatch

Treasury yields plunged on Friday amid continued concerns about the global banking system, sending the policy-sensitive 2-year rate down by 18 basis points to 3.66% in morning trading. The yield is down more than 120 basis points over the past three weeks and headed for its biggest drop for such a length of time in more than 35 years. Meanwhile, the 10-year yield was down 11 basis points at 3.3% and poised for its biggest three-week plunge since March 2020.

Banking 75
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Underlying Inflation Gauge: February Update

Advisor Perspectives

The latest Underlying Inflation Gauge full data set for February is 4.8% while the prices-only measure is 3.9%. Current Headline CPI is now 6.0% and Core CPI is 5.5%.

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: Traders move away from Fed’s rate outlook, coalescing around idea of full percentage point of rate cuts by year-end

MarketWatch

Resending to correct headline.Fed funds futures traders now see a 39% likelihood that the Federal Reserve will cut rates to between 3.75% and 4% by December — down from a current range of 4.75% to 5%. That view represents the most likely scenario they foresee as of Friday. Traders have moved away from the Fed’s own median expectation for a 5.1% fed funds rate by year-end amid ongoing concerns about the global banking system.

Banking 75
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Book of Secrets on the Month-End Close

Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.

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Institutional Investors’ Impact on Factor Premiums

Alpha Architect

For anomalies that are risk-based, that is what we should expect to see because, while risk cannot be arbitraged away, cash flows can reduce the size of the premium. For the anomalies that are behavioral based, it appears that limits to arbitrage are still sufficient to allow them to persist post-publication. <strong>Institutional Investors’ Impact on Factor Premiums</strong> was originally published at Alpha Architect.

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: McMahon agreed to reimburse WWE for investigation into misconduct allegations

MarketWatch

World Wrestling Entertainment Inc. WWE on Friday said Executive Chairman Vince McMahon agreed to pay the pro-wrestling media giant around $17.4 million to cover costs the company took on related to a board committee investigation into allegations of sexual misconduct. “Such payment was made” on Thursday, WWE said in a filing. That agreement covered any costs incurred through Jan. 31 related to that investigation, as well as those related to “revisions to the Company’s financial statements and ot

Media 75
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Chart of the Week – Are the Banks on Fire?

Discipline Funds

This week’s chart of the week shows the S&P Regional Bank index performance year-to-date. The Index is down -27% this year and -34% from its high. Pretty big numbers. Banks are obviously getting a lot of the attention this year given the recent developments with SVB and some other regional banks. But are the banks actually causing the fire or are they merely a symptom of the fire?

Banking 59
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: Dow ends 130 points higher Friday, stocks book weekly gains despite continued banking sector concerns

MarketWatch

U.S. stocks ended a volatile week higher on Friday, a week that saw the Federal Reserve raise rates another 25 basis points and risks in the U.S. and European banking sectors remain in key focus. The Dow Jones Industrial Average DJIA rose about 132 points, or 0.4%, ending near 32,238, Friday, boosting its weekly gain to 1.2%, according to preliminary FactSet data.

Banking 74
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Stop Falling Short When It Matters Most—The Elite Advisor’s Playbook to Success

Like being inches from the end zone, many advisors are frustratingly close to their next level of success. You work hard. You put in the hours. But if your closing rate is stuck or your pipeline feels like a revolving door… something has to change. Most advisors are just one small shift away from dramatically increasing their revenue. The difference?

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Durable Goods Orders Down 1.0% in February, Worse Than Forecast

Advisor Perspectives

February's new orders for manufactured durable goods came in lower than expected at $268.4B, a -1.0% decline from last month compared with the Investing.com 0.6% estimate. The series is up 2.2% year-over-year (YoY), the smallest yearly increase since September 2020. If we exclude transportation, "core" durable goods were unchanged from last month, worse than the Investing.com 0.2% estimate, and up 1.7% YoY.

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: Schwab CEO says the company has ample liquidity: WSJ

MarketWatch

Charles Schwab Corp. SCHW CEO Walt Bettinger said the brokerage and financial services firm has enough resources to continue to operate even if it lost its deposits over the coming year, The Wall Street Journal reported Friday. Without having to sell a single security in its portfolio, “there would be a sufficient amount of liquidity right there to cover if 100% of our bank’s deposits ran off,” Bettinger said in the report.

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Norman’s Principles for Effective Internal Auditing

Norman Marks

Originally posted on Norman Marks on Governance, Risk Management, and Audit : I am in the midst of writing a new book and decided I needed to define my core principles for effective internal auditing.

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: Activision stock rises as U.K. regulator reduces concerns with Microsoft acquisition

MarketWatch

Activision Blizzard Inc. stock ATVI is up about 5% in premarket trades after the U.K.’s Competition and Markets Authority (CMA) said it remains on course for completing its review of the video game company’s proposed acquisition by Microsoft Corp. MSFT by the end of April. “We have now provisionally concluded that the merger will not result in a substantial lessening of competition in console gaming services because the cost to Microsoft of withholding Call of Duty from PlayStation would outweig

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Demo SkyStem’s Award Winning Month-End Close Solution & Earn $100

Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.