Nerd's Eye View
AUGUST 28, 2023
The announcement of the merger between Charles Schwab and TD Ameritrade in November 2019 kicked off a marathon of preparation for advisory firms to transition their clients on the TD Ameritrade custodial platform to Schwab. And with the final conversion of clients scheduled to take place over the upcoming Labor Day weekend of 2023, the marathon is approaching its final sprint toward the finish line.
Abnormal Returns
AUGUST 28, 2023
Charles Schwab Charles Schwab ($SCHW) is rebranding TDA's video news efforts. (riabiz.com) Charles Schwab ($SCHW) is planning more job cuts due to the TDA integration. (investmentnews.com) Pro bono planning Does financial planning have a pro bono problem? (mywealthplanners.com) The CFP Board wants to encourage pro bono planning. (investmentnews.com) Practice management How choosing an advisory niche makes for better marketing efforts.
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The Big Picture
AUGUST 28, 2023
Econ on the Road Labor, Consumers, Inflation & Data Earlier this month, I spent two and a half hours each way in a car — plus a quick (and horrifying) lunch at the wonderful Eagle’s Nest for Loster Roll and fries. My delightful traveling companions for each way were Dave Nadig of VettaFi + Cameron Dawson at Newedge Wealth. Dave has the best title in all of Wall Street: Financial Futurist.
Abnormal Returns
AUGUST 28, 2023
Companies Google ($GOOGL) has dominated seemingly forever. The cracks are showing. (theverge.com) Nvidia's ($NVDA) near term looks bright. The longer term is open to interpretation. (stratechery.com) How income affects Apple ($AAPL) services adoption. (asymco.com) Startups A look at Klayvio's S-1. (tomtunguz.com) The startup slowdown is translating into lower equity comp.
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.
Trade Brains
AUGUST 28, 2023
High Promoter Holding Stocks under Rs 50: There are various parameters such as debt level, RoE, etc. investors keep in mind while screening stocks. One such filter is ‘promoter stake’ or ‘promoter shareholding’ in the stock. A high promoter stake acts as a vote of confidence of the company owners towards the business. But with so many listed stocks, how to find out the best among them?
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Wealth Management
AUGUST 28, 2023
Kimco Realty announced it has reached an agreement to purchase RPT Realty in an all-stock deal valued at $2 billion. Wall Street funds that backed WeWork are discussing how to handle the firm’s potential bankruptcy, reports The Wall Street Journal. These are among the must reads from around the real estate investment to kick off the new week.
Advisor Perspectives
AUGUST 28, 2023
So-called “finfluencers” are preying on naïve investors, promising unrealistic returns while generating excessive commissions for themselves. Their bait is an indexed-universal life (IUL) policy. Read this to avoid making a costly mistake.
Investment Writing
AUGUST 28, 2023
Can you spot what’s wrong in the image below? Please post your answer as a comment. This mistake made me laugh, but it’s not funny if your clients spot mistakes like this. I post these challenges to raise awareness of the importance of proofreading. The post MISTAKE MONDAY for August 28: Can YOU spot what’s wrong? appeared first on Susan Weiner Investment Writing.
Advisor Perspectives
AUGUST 28, 2023
Like Samuel Beckett’s titular character Godot, we are still waiting the all-but-certain U.S. recession. It may yet happen, but it’s wise to understand why forecasters were so grossly incorrect.
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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
AUGUST 28, 2023
John Love, president and CEO of USCF, talks about the role of commodities as part of investor allocations to alternatives and outlines the firm's ETF strategy.
XY Planning Network
AUGUST 28, 2023
We're excited to launch a new series of XYPN member stories entitled "How I Did It." Deciding to take the leap to start your own financial planning firm can be very scary. And actually "leaping" can feel overwhelming. There are so many decisions and responsibilities. How am I going to make this work? What business model should I use? How do I manage compliance?
Wealth Management
AUGUST 28, 2023
The former United Capital business, bought by Goldman in 2019, will bring Creative Planning’s total assets to nearly $275 billion.
Darrow Wealth Management
AUGUST 28, 2023
The sale of a business marks a major life event. It’s emotional, stressful, and exciting all at the same time. And unfortunately, it’s often a lot of work. Most business owners will only experience the process of selling a business once in their life. This is both good and bad news. On the bright side, you only need to get through it once.
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
AUGUST 28, 2023
Many high-cost major markets that have experienced outmigration still have much larger talent pools than most Sun Belt cities.
A Wealth of Common Sense
AUGUST 28, 2023
Today’s Talk Your Book is brought to you by J.P. Morgan Asset Management: See here for more information on 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 popular covered call strategy ETF. On today’s show, we discuss: How the strategy is constructed Why getting called away on a stock-by-stock b.
Wealth Management
AUGUST 28, 2023
Summit Financial Group is departing Securian weeks after Cetera closed a deal to purchase that firm’s retail wealth business.
Alpha Architect
AUGUST 28, 2023
The findings from this Hidden Markov Model analysis provide policymakers with valuable insights into the nature and behavior of inflation regimes. This information can inform the design and implementation of monetary, fiscal, and regulatory policies to effectively manage inflation, stabilize the economy, and promote sustainable economic growth. The Determinants of Inflation 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
AUGUST 28, 2023
It's key to consider the emotional, financial, and tax implications of gifts of tangible personal property.
Advisor Perspectives
AUGUST 28, 2023
Recently, I came across an example of something worse than having no will…
Wealth Management
AUGUST 28, 2023
The Commission is expected to respond to filings from Bitwise, BlackRock, VanEck, WisdomTree and Invesco.
Calculated Risk
AUGUST 28, 2023
From Matthew Graham at Mortgage News Daily: Rates Relieving Some Pressure After Last Week's Highs Mortgage rates hit fresh multi-decade highs last week with many lenders hitting the mid-7% range earlier in the week for top tier conventional 30yr fixed scenarios. There was some immediate relief on Wednesday, but things have been broadly sideways since then.
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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!
Don Connelly & Associates
AUGUST 28, 2023
Client complaints—it happens to the best of us. Some financial advisors go for years without receiving a client complaint. But it will happen, and when it does, it can seemingly come out of left field. Most client complaints are unexpected, which is why advisors must be able to quickly shift into rapid response gear or risk losing a client. We've posted in the past about the importance of having a systematic communications strategy in developing solid, trusted, and enduring client relationships.
XY Planning Network
AUGUST 28, 2023
We're excited to launch a new series of XYPN member stories entitled "How I Did It." Deciding to take the leap to start your own financial planning firm can be very scary. And actually "leaping" can feel overwhelming. There are so many decisions and responsibilities. How am I going to make this work? What business model should I use? How do I manage compliance?
Don Connelly & Associates
AUGUST 28, 2023
Client complaints—it happens to the best of us. Some financial advisors go for years without receiving a client complaint. But it will happen, and when it does, it can seemingly come out of left field. Most client complaints are unexpected, which is why advisors must be able to quickly shift into rapid response gear or risk losing a client. We've posted in the past about the importance of having a systematic communications strategy in developing solid, trusted, and enduring client relationships.
Calculated Risk
AUGUST 28, 2023
Here is a graph of the Fannie Mae mortgage serious delinquency rate and the unemployment rate since 1998 (ht @CharlieAllievo ). For the last two recessions, the delinquency rate and the unemployment rate moved in the same direction. However, there were significant differences between the two periods. During the housing bust, many homeowners had little or no equity - or even negative equity - when prices started falling.
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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
AUGUST 28, 2023
Applying planning expertise is a very complicated art form, a skill that is acquired over time, but which can be accelerated if there were a way to capture many of things that soon-to-be-retired advisors have learned through years of practice.
Zoe Financial
AUGUST 28, 2023
Market Drama Featuring Zoe CEO & Founder, Andres Garcia-Amaya, CFA August 28, 2023 Watch Time: 3 minutes Welcome to this week’s Market Drama! The Stock Market: The S&P 500 was up and so was Nasdaq. S&P 500 was up 0.8% this past week. Nasdaq was up 2.3% for the week. Dow Jones was down 0.4%. Gross stocks outperformed value shares.
Advisor Perspectives
AUGUST 28, 2023
Five of the eight indexes on our world watch list posted gains through August 28, 2023. Tokyo's Nikkei 225 finished in the top spot with a YTD gain of 23.28%. The U.S.'s S&P 500 finished in second with a YTD gain of 15.93% while France's CAC 40 finished in third with a YTD gain of 10.58%.
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