Fri.Oct 20, 2023

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Dollars Are For Spending & Investing, Not Saving

The Big Picture

“I need the US Dollar to be a store of value between the time I make it until I spend it, invest it, pay my taxes with it, or give it away. It does that splendidly.” 1 Today, we’re going to look at a perennial (un)favorite #chartfail. To be more precise, I want to discuss the type of chart that reflects a fundamental misunderstanding of the nature of money, currency, spending, investing, and taxes.

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Realtor.com Reports Weekly Active Inventory Down 2.7% YoY; New Listings Down 4.4% YoY

Calculated Risk

Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report from Danielle Hale: Weekly Housing Trends View — Data Week Ending Oct 14, 2023 • Active inventory declined, with for-sale homes lagging behind year ago levels by 2.7%. For 17 straight weeks, the number of homes available for sale has registered below that of the previous year. • New listings–a measure of sellers putting homes up for sale–were down again this week, by 4.4% from one year ago.

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RIA Roundup: Sequoia Financial Group to Acquire $930M M Capital Advisors

Wealth Management

Sequoia is adding $930 million in assets, while Mercer, NewEdge Wealth and CoastalOne collectively brought in more than $1.13 billion. SageView, Linscomb & Williams and Pathstone all filled key roles.

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10 Friday AM Reads

The Big Picture

My end-of-week morning train WFH reads: • Austin’s office market is exploding. But no one is moving in. 6 million square feet of new office space will hit the market in the next few years — equivalent to 105 football fields. Between spaces completed since 2020 and what’s still in the pipeline, the office market will grow nearly 25 percent — the fastest rate on the continent.

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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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From Personal Struggles to Passion: NextGen Advisors Share Their Journeys

Wealth Management

Some financial advisors discovered their calling early in life, while others found their passion in more serendipitous ways.

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Weekend Reading For Financial Planners (October 21-22)

Nerd's Eye View

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that a recent study from Fidelity Institutional highlights the growing popularity of the RIA model and the success advisors have had after going independent. The study found that 1 in 6 advisors have moved firms in the past 5 years, with the majority opting for the independent channel.

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Hotels: Occupancy Rate Decreased 2.3% Year-over-year

Calculated Risk

From STR: U.S. hotel results for week ending 14 October U.S. hotel performance increased from the previous week, and year-over-year comparisons remained mixed, according to CoStar’s latest data through 14 October. 8-14 October 2023 (percentage change from comparable week in 2022): • Occupancy: 68.5% (-2.3%) • Average daily rate (ADR): US$164.25 (+3.2%) • Revenue per available room (RevPAR): US$112.51 (+0.8%) emphasis added The following graph shows the seasonal pattern for the hotel occupancy ra

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Fired Raymond James VP Files Sexual Harassment Lawsuit

Wealth Management

Joena Bartolini Mitchell accused her former supervisor of discriminating against her based on her gender, just one in a long list of sexual harassment instances at the firm she details.

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NMHC: "Apartment Market Continues to Loosen"

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: NMHC: "Apartment Market Continues to Loosen" A brief excerpt: Apartment market conditions continued to weaken in the National Multifamily Housing Council's (NMHC) Quarterly Survey of Apartment Market Conditions for October 2023, as the Market Tightness (21), Sales Volume (24), Equity Financing (18), and Debt Financing (9) indexes all came in well below the breakeven level (50). • The Market Tightness Index came in at 21 this quarter —below th

Marketing 162
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Update on the Impending Corporate Transparency Act

Wealth Management

Reporting requirements are set to commence on January 1, 2024. Here's how to prepare.

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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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Entering Year Two of the Bull Market with Tom Lee

The Reformed Broker

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Tom Lee, and Downtown Josh Brown discuss earnings, the liquidity starved bull market, economic indicators, the Fed’s next move, housing, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods! Listen here: Apple podcasts Spotify podcasts Google podcasts Everywhere el.

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Financial Planning's Bright Future: Insights from NextGen Advisors

Wealth Management

At the NextGen FPA Gathering, the future for financial advisors looked promising.

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Q3 GDP Tracking: Around 4%

Calculated Risk

The preliminary estimate of Q3 GDP will be released next Thursday, Oct 26th. The consensus estimate is real GDP increased at a 4.1% annualized rate in Q3. From BofA: Overall, the data flow since our last weekly pushed up our 3Q US GDP tracking estimate from 3.8% to 4.3% q/q saar. [Oct 20th estimate] emphasis added From Goldman: We left our Q 3 GDP tracking estimate unchanged at +4.0% (qoq ar).

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Facing Fears and Finding Purpose: NextGen Advisors Share Their Stories

Wealth Management

At the FPA NextGen Gathering, several advisors shared the fears and challenges they faced entering the industry.

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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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Stop Betting Against America

A Wealth of Common Sense

There’s this guy on Twitter, Paul Fairie, who does these threads using old newspaper clippings to show how the stuff we worry about today is the same stuff people have been worrying about for decades. There was one called a brief history of we are raising a generation of wimps. Every older generation thinks this (and will always think this…it’s called progress).

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The WealthStack Podcast: Vib Arya on the Evolving Role of the CTO

Wealth Management

Shufro Rose's Vib Arya talks about staying head of the technology curve.

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This Halloween, There's Nothing to Fear About Long-Term Care

NAIFA Advisor Today

Before you head out for Trick-or-Treating, spend the afternoon preparing for Long-Term Care Awareness Month with NAIFA's Limited and Extended Care Planning Center. Executive Director, Carroll Golden, CLU, ChFC, CLTC, CASL, LECP, FLMI hosts a Halloween event, Don't Be Scared of Long-Term Care. This free event will feature some of the biggest names in the limited and long-term care space.

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Delivering on the Potential of Client Segmentation

Wealth Management

Tuesday, November 07, 2023 | 2:00 PM ET

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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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S&P 500 Snapshot: 4 Day Slump Wipes October Gains

Advisor Perspectives

The S&P 500 fell for 4 straight days to end the week, wiping out all prior gains made this month. The index is currently up 10.46% year to date and is 11.93% below its record close from January 3, 2022.

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How to Up Your Golf Game in Retirement

Integrity Financial Planning

Golf is a rewarding and challenging activity that can be enjoyed by individuals of all ages, including retirees. It’s not just a game but an opportunity to stay physically active, mentally stimulated, and socially engaged. If you’re looking to get better scores out on the green, try out these key tips and strategies. Stretch and Get Loose First and foremost, prioritize your physical health.

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How to Keep the Treasuries Market Functioning

Advisor Perspectives

The $25.8 trillion market for US Treasury debt is like the circulatory system for the world’s financial markets — everything else relies on it. In recent years blockages have occasionally formed, and central banks have had to step in to restore the money flow.

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What is quality internal auditing?

Norman Marks

To answer this question, we must first decide why we have an internal audit function. What value does it provide for any organization? My answer is that: An effective internal audit function provides the risk-based assurance, advice, and insight[1] that leadership needs for success[2].

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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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Talk Your Book: The State of Venture Capital

The Irrelevant Investor

On today’s show, we spoke with Samir Kaji, CEO, President, and Co-Founder of Allocate to give us an update on Venture markets. See here to learn more about Allocate’s VC platform for advisors and family offices. On today’s show, we discuss: How VC has influenced everyday life Where private market prices should be today Remnants of the free-money era How VC-backed start-ups are surviving 2023 What VC invest.

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How An Analysis Of Your Financial Past Can Impact Your Future Financial Planning

WiserAdvisor

Navigating the complexities of personal finance demands both reflection and foresight. A deep dive into our financial history reveals patterns, offers lessons, and provides benchmarks for improvement. Each past decision, be it an investment choice or a spending habit, contributes to our current financial status. Recognizing this, it becomes imperative to understand our financial trajectory up to this point.

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Should You Invest in the United States or Foreign Equity Markets?

Ron A. Rhodes

The Spirit of Entrepreneurship I’m a big fan of the United States, the future of its economy, and, as a result, to possessing a home bias with respect to U.S.

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Market Update Q3 2023

Financial Symmetry

Below is a video of our Third Quarter 2023 Market Update. In the video we cover: Where we’ve been over 1, 5, and 10 years A reminder that there’s always a reason to worry Should you invest less in stocks … Continued The post Market Update Q3 2023 appeared first on Financial Symmetry, Inc.

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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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RecessionAlert Weekly Leading Economic Index

Advisor Perspectives

The weekly leading economic index (WLEI) is a composite for the U.S economy that draws from over 20 time-series and groups them into the following six broad categories which are then used to construct an equally weighted average. As of October 6th, the index was at 8.884, down 4.153 from the previous week.

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Video: Third quarter economic outlook

SEI

Jim Solloway and Vivian Estadt discuss the 2023 third quarter economic outlook.

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Seeking Balance in Sustainable Multi-Asset Investing

Advisor Perspectives

A multi-asset approach to sustainable investing brings a broad and more balanced palette to paint with.

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Facts Vs Feelings Take 5 – Why There’s Still No Recession

Carson Wealth

Carson Group’s Chief Market Strategist Ryan Detrick and VP, Global Macro Strategist Sonu Varghese have been saying there won’t be a recession for a year now. Find out why they still hold strong on this viewpoint in their latest episode of Facts vs. Feelings: Take Five. Highlights include: Retail sales numbers show that consumer spending is strong Consumer sentiment is still low when it comes to the economy More spending means good news for stocks Earnings could be the catalyst for an end-of-year

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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.