The Big Picture
OCTOBER 19, 2023
One of my favorite responsibilities as chief investment officer at Ritholtz Wealth Management is the quarterly conference call I do for our clients. I run through 30 charts in 30 minutes that explain where we are in the economic cycle, what markets are doing, and what it means to their portfolios. I like to finish with a thought-provoking, often “investing-adjacent” idea they might not have previously considered.
Abnormal Returns
OCTOBER 19, 2023
Rates Bonds have had a lost decade. (wsj.com) Mortgage rates have hit 8%. (calculatedrisk.substack.com) Fund management Big money money managers are all in on ETFs. (ft.com) Sentiment How media is driving a wedge between the economy and sentiment. (ritholtz.com) Annie Lowery, "Things are great, but folks are mad." (theatlantic.com) Global Poland's voters pushed back against autocracy.
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Nerd's Eye View
OCTOBER 19, 2023
Much of the marketing and practice management advice in the financial advisory space comes back to 1 recommendation: Specialize in a niche. Niching offers several advantages, allowing advisors to be more specific in their marketing, more targeted in their prospecting calls, and more efficient in their processes (since clients within a similar niche are likely to have similar problems, especially in niches of profession).
Abnormal Returns
OCTOBER 19, 2023
Books An excerpt from “Ours Was the Shining Future” by David Leonhardt. (nytimes.com) Michael Strain talks with James Pethokoukis author of "The Conservative Futurist: How to Create the Sci-Fi World We Were Promised." (fasterplease.substack.com) A Q&A with Helen Czerski author of "The Blue Machine: How the Ocean Works." (e360.yale.edu) A Q&A with Taylor Lorenz author of "Extremely Online: The Untold Story of Fame, Influence, and Power on the Internet.
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
OCTOBER 19, 2023
The Conference Board Leading Economic Index (LEI) fell for the 18th consecutive month in September as future economic weakness continue to loom. The index dropped 0.7% from last month to 104.6, the index's lowest reading since June 2020.
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Trade Brains
OCTOBER 19, 2023
You might remember the time when Hindenburg accused the Adani Group of stock price manipulation. The financial world held its breath, and it seemed like chaos had taken over. But guess what? The tables have turned! India inaugurated its first Container Trans-shipment Port in Trivandrum Kerala, on October 15. The Vizhinjam port is at the southernmost tip of India and will help us compete with China in international maritime trade.
Wealth Management
OCTOBER 19, 2023
FPA President James Lee explains why the FPA NextGen conference is a unique event that radiates energy from young professionals passionate about financial planning.
Calculated Risk
OCTOBER 19, 2023
Today, in the CalculatedRisk Real Estate Newsletter: NAR: Existing-Home Sales Decreased to 3.96 million SAAR in September; New Cycle Low Excerpt: Sales Year-over-Year and Not Seasonally Adjusted (NSA) The fourth graph shows existing home sales by month for 2022 and 2023. Sales declined 15.4% year-over-year compared to September 2022. This was the twenty-fifth consecutive month with sales down year-over-year.
Wealth Management
OCTOBER 19, 2023
Matthew Murphy and Rebecca Baker of Marble Wealth discuss their choice to leave UBS and opt for independence, the impact of signing on to the firm’s retire-in-place program, their age as a competitive advantage and much more.
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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
OCTOBER 19, 2023
In September, nominal home values increased for a 6th straight months while "real" home values declined for the first time in 4 months. Last month's ZHVI came in at $348,539, up 0.35% from the previous month and up 1.13% from one year ago. However, after adjusting for inflation, the real figures are -0.20% month-over-month and -5.56% year-over-year.
Wealth Management
OCTOBER 19, 2023
The Reed Finney team from Bleakley Financial and Private Capital Management expand Beacon Pointe’s presence in New Jersey and California's Bay Area.
A Wealth of Common Sense
OCTOBER 19, 2023
The tax man Bill Sweet joined me on today’s show again to answer questions about expected returns in the stock market, changing income brackets and your finances, getting a late start on tax-deferred savings and borrowing from your portfolio. The post Bad Returns in the Market Aren’t Always Bad appeared first on A Wealth of Common Sense.
Wealth Management
OCTOBER 19, 2023
Technology should not be viewed as a replacement for advisors, but a tool that enhances their capabilities, says Fidelity's director of digital planning.
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.
Integrity Financial Planning
OCTOBER 19, 2023
From October 15 to December 7, Medicare has an open enrollment period. [1] This is the time when you can change your health plan and prescription drug coverage to adapt to your needs. [1] Every year, there are changes to Medicare health plans and networks, so make sure that you know if your coverage is changing. [1] If your coverage stays the same and you feel like it’s working for you, then you don’t have to do anything during the open enrollment period!
Wealth Management
OCTOBER 19, 2023
Kellan Brown, chief growth officer at Income Lab, discusses the integration of retirement income planning with next-gen financial advising.
Million Dollar Round Table (MDRT)
OCTOBER 19, 2023
By Woei Sean Tong Some experts suggest that advisors are going to be out of a job, as people are now buying everything online, including life insurance. It’s true that we buy more things online than ever. Yet, we’re not running out of business because of that. When we look into the details of what’s being bought online, it’s usually no-brainer stuff, such as toothpaste.
Wealth Management
OCTOBER 19, 2023
The $270 billion firm is also getting more active in its Entrepreneurial Capital program, including helping advisors with M&A.
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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.
The Irrelevant Investor
OCTOBER 19, 2023
Today’s Compound and Friends is brought to you by Kraneshares: See here for more information on KraneShares Global Luxury Index ETF One Month of Fundstrat Insights Free: See here Listen here: Charts: Recommendations: A24: The rise of a cultural conglomerate Reptile Tom Lee: Twitter Contact us at askthecompoundshow@gmail.com with any feedback, recommendations, or questions.
Wealth Management
OCTOBER 19, 2023
The RIA firm acquires an Indiana-based team of 10, including three CPAs, and around $100 million in managed assets.
Advisor Perspectives
OCTOBER 19, 2023
Existing home sales dropped to their lowest level since 2010 as housing affordability continued to impact sales. According to the data from the National Association of Realtors (NAR), existing home sales fell 2.0% from August to reach a seasonally adjusted annual rate of 3.96 million units. This figure came in higher than the expected 3.89 million. Existing home sales are down 15.4% compared to one year ago.
Wealth Management
OCTOBER 19, 2023
Danielle Miura transitioned from being a stay-at-home mom to a career in financial planning after encouragement from her husband.
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Advisor Perspectives
OCTOBER 19, 2023
The popular 60/40 portfolio isn’t dead, and in fact is a significantly more compelling investment than cash over the coming decade, according to JPMorgan Asset Management.
Wealth Management
OCTOBER 19, 2023
One advisor who left, who declined to be named, said his decision to leave was motivated by the sale to Creative Planning.
Advisor Perspectives
OCTOBER 19, 2023
Weekly unemployment claims fell below 200,000 for the first time since January. In the week ending October 14, initial jobless claims declined 13,000 to a seasonally adjusted level of 198,000. The latest reading is lower than the forecast of 212,000.
Wealth Management
OCTOBER 19, 2023
From finance to fintech disruption, CHIP founder Dana Wilson redefines fear and empowers change.
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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
OCTOBER 19, 2023
The latest Philadelphia Fed manufacturing index remained in negative territory this month despite a few indicators turning positive, indicating mixed activity. In October, the index increased to -9.0, coming in below the forecast of -6.4. The six-month outlook remained positive for a fifth consecutive month at 9.2.
Wealth Management
OCTOBER 19, 2023
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Calculated Risk
OCTOBER 19, 2023
The DOL reported : In the week ending October 14, the advance figure for seasonally adjusted initial claims was 198,000 , a decrease of 13,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 209,000 to 211,000. The 4-week moving average was 205,750, a decrease of 1,000 from the previous week's revised average.
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