The Big Picture
NOVEMBER 30, 2023
My morning train WFH reads: • Owners Keep Zombie Malls Alive Even When Towns Want to Pull the Plug : Aging malls often take a long time to expire, but they can remain valuable assets. ( Wall Street Journal ) • A strange, short journey through Shein’s world : The fast fashion brand has been trying to drop the secrecy around its business model and supply chain.
Abnormal Returns
NOVEMBER 30, 2023
Charlie Munger Jason Zweig, "More than almost anyone I’ve ever known, Munger also possessed what philosophers call epistemic humility: a profound sense of how little anyone can know and how important it is to open and change your mind." (wsj.com) Berkshire Hathaway ($BRK.A) shareholders need to closely contemplate a post-Buffett era. (morningstar.com) Some more Charlie Munger quotes including 'In my whole life, I have known no wise people who didn’t read all the time — none, zero.
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Nerd's Eye View
NOVEMBER 30, 2023
Financial advisors looking to increase their firm's productivity may often start by choosing either to hire more employees as a way to delegate their workload, or to implement new technology solutions to increase the efficiency of their work processes. While the expectation is often that investing in these solutions will enhance efficiency, advisor capacity, and margins without proportionally increasing costs, the reality is that they typically have a modest impact on profitability (with no more
Abnormal Returns
NOVEMBER 30, 2023
Books A Q&A with Michele Gelfand author of "Rule Makers Rule Breakers: How Tight and Loose Cultures Wire Our World." (behavioralscientist.org) An excerpt from "The Bill Gates Problem: Reckoning with the Myth of the Good Billionaire" by Tim Schwab. (nextbigideaclub.com) A Q&A with Jay Owens author of "Dust: The Modern World in a Trillion Particles.
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.
Wealth Management
NOVEMBER 30, 2023
California-based accounting firm Windes will leverage Integrated Partners’ platform to provide more comprehensive services for complex clients through a new wealth management practice.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Wealth Management
NOVEMBER 30, 2023
Savvy snaps up Schwab advisor, LaSalle St. adds former Atria OSJ, Perigon Wealth buys Vegas shop and other news from Modern Wealth, Freestone Capital and Thurston Springer.
Calculated Risk
NOVEMBER 30, 2023
Today, in the Calculated Risk Real Estate Newsletter: Freddie Mac House Price Index Increased in October to New High; Up 6.0% Year-over-year A brief excerpt: On a year-over-year basis, the National FMHPI was up 6.0% in October , from up 5.1% YoY in September. The YoY increase peaked at 19.1% in July 2021, and for this cycle, bottomed at up 0.9% in April 2023.
Wealth Management
NOVEMBER 30, 2023
Blackstone has raised $2.6 billion for a new vehicle dedicated to real estate secondaries, reports The Wall Street Journal. The FDIC flagged office loans as a potential risk to banks in its latest quarterly report. These are among today’s must reads from around the commercial real estate industry.
Calculated Risk
NOVEMBER 30, 2023
Here is a graph of the year-over-year change in shelter from the CPI report and housing from the PCE report this morning, both through October 2023. CPI Shelter was up 6.7% year-over-year in October, down from 7.1% in September, and down from the cycle peak of 8.2% in March 2023. Housing (PCE) was up 6.9% YoY in October , down from 7.2% in September, and down from the cycle peak of 8.3% in April 2023.
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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
NOVEMBER 30, 2023
As situations change, Jeff Nauta has found that the technology has to sometimes do the same at $528 million AUM Henrickson Nauta Wealth Advisors.
A Wealth of Common Sense
NOVEMBER 30, 2023
A reader asks: I’m finding it incredibly hard to invest my excess cash, even in my kids’ college funds, with the S&P 500 closing in on new highs. Objectively, I know I’m supposed to just grit my teeth and invest, not try to predict the market, take comfort in knowing that time-in-the-market is biggest factor in my long-term investment success…but IT IS SO DAMN HARD for me to do it psychological.
Wealth Management
NOVEMBER 30, 2023
While the technology will be used to identify patterns in large data sets, it will not be used to automatically initiate any trading on its own.
The Irrelevant Investor
NOVEMBER 30, 2023
Today’s Compound and Friends is brought to you by Public: Visit public.com/compound for more information on how to earn 5.4% interest with a treasury account on public. On today’s show, we discuss: Something new on Wall Street for 2024 – humility JPMorgans S&P 500 outlook for 2024 is grimmest on Wall Street The stocks that AI mania left behind Global bonds head for best month since 2008 financial.
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
NOVEMBER 30, 2023
The $24 billion Grayscale Bitcoin Trust (GBTC) is currently trading at a roughly 8% discount to its underlying Bitcoin holdings, the narrowest dislocation in over two years.
AdvicePay
NOVEMBER 30, 2023
Efficient. Compliant. Secure. In today's increasingly digital world, financial transactions and data are constantly at risk from cyber threats. The wealth management industry, in particular, must be vigilant when it comes to safeguarding sensitive client information and ensuring secure payment processing. AdvicePay has taken this challenge head-on. We’ve designed the AdvicePay system to maximize data security at every level of our payment processing.
Wealth Management
NOVEMBER 30, 2023
Matt Celenza returns to the podcast to share an insider perspective on “what he wishes he knew before breaking away”—the good and the bad.
Million Dollar Round Table (MDRT)
NOVEMBER 30, 2023
By Bryce Sanders If you are active in the community, you are going to find yourself networking at an event where you do not know anyone in the room. This can be scary, especially if you think they are all older and richer than you. Meeting people can be a lot easier than you think though. These networking events might be a museum reception, a donor recognition event at the hospital or the cocktail hour at a charity fundraiser.
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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
NOVEMBER 30, 2023
We are pivoting to cover the wider world of alternatives and how wealth advisors are using these tools in client portfolios.
Advisor Perspectives
NOVEMBER 30, 2023
In the week ending November 25, initial jobless claims were at a seasonally adjusted level of 218,000, an increase of 7,000 from the previous week's revised figure. The latest reading is lower than the forecast of 220,000.
Wealth Management
NOVEMBER 30, 2023
Ten-figure fortunes come mainly from inheritance, not from hard work. But if heirs don’t know how to make money, are they good stewards of family riches?
Advisor Perspectives
NOVEMBER 30, 2023
The BEA's Personal Income and Outlays report revealed inflation slowed as expected in October. Core PCE, the Fed's favored measure of inflation, was up 0.2% from September and slowed to 3.5% year-over-year, the lowest reading in over two years but still above the Fed's 2% target rate.
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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!
Wealth Management
NOVEMBER 30, 2023
The newest additions are the second and third teams to jump to Snowden Lane Partners from within the independent channel.
Advisor Perspectives
NOVEMBER 30, 2023
Personal income ( excluding transfer receipts ) rose 0.3% in October and is up 5.4% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) was up 0.3% month-over-month and 2.3% year-over-year.
Wealth Management
NOVEMBER 30, 2023
Abacus Life is betting big on its longevity- and lifespan-based approach to financial planning.
Advisor Perspectives
NOVEMBER 30, 2023
With the release of October's report on personal incomes and outlays, we can now take a closer look at "real" disposable personal income per capita. At two decimal places, the nominal 0.26% month-over-month change in disposable income comes to 0.21% when we adjust for inflation. The year-over-year metrics are 6.44% nominal and 3.33% real.
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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.
Wealth Management
NOVEMBER 30, 2023
Advisory firms planning multiple mergers need a standardized system.
Calculated Risk
NOVEMBER 30, 2023
The DOL reported : In the week ending November 25, the advance figure for seasonally adjusted initial claims was 218,000 , an increase of 7,000 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 220,000, a decrease of 500 from the previous week's revised average.
Advisor Perspectives
NOVEMBER 30, 2023
The National Association of Realtors® (NAR) released the latest monthly data for its pending home sales index. The index fell 1.5% in October to 71.4, the index's second lowest reading since the NAR began tracking data in 2001, and is down 8.5% compared to one year ago. Pending home sales were expected to fall 2.0% last month.
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