Thu.Nov 03, 2022

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Behind the Curve, Part V

The Big Picture

Fed Chair Jerome Powell and the FOMC increased the Fed Funds Rate another 75 bps yesterday, to 3.75-4.0%. Markets have given back much of October’s gains fairly quickly. I have been turning this over slowly in my mind, trying to assess their thinking here. I am not sure what models they use, what data they think is most important, what impact their actions will have, and perhaps most importantly, exactly what they are hoping to accomplish.

Planning 313
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Thursday links: the realm of consensus

Abnormal Returns

Companies Why is Zuck betting the company on the metaverse? (wsj.com) More tech companies are engaging in layoffs including Lyft ($LYFT). (wsj.com) Finance On the end of the SPAC boom. (morningstar.com) How signaling happens in the options market. (wsj.com) The Ark Venture fund is offering investors access to the private Twitter. (ft.com) Media How Moneyball has ruined baseball, and culture.

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Kitces & Carl Ep 98: Fee Schedule Complexity And Managing The Fear Of Leaving Opportunities On The Table

Nerd's Eye View

For many financial advisors, prospecting efforts have traditionally been based on a perspective of scarcity, where the aim was to focus on connecting with and closing as many prospects as possible, regardless of their actual needs. However, in order to accommodate a wide range of clients with wildly diverse needs, firms often need to provide a myriad of services to address those needs.

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Longform links: what artists do best

Abnormal Returns

Books A Q&A with Guarav Batra, co-author of "The Titanium Economy: How Industrial Technology Can Create a Better, Faster, Stronger America." (fasterplease.substack.com) An excerpt from "It’s Not TV: The Spectacular Rise, Revolution, and Future of HBO" by Felix Gillette and John Koblin. (bloomberg.com) An excerpt from “I Wouldn’t Do That if I Were Me: Modern Blunders and Modest Triumphs (but Mostly Blunders)” by Jason Gay.

Economy 130
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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Clips From Today’s Halftime Report

The Reformed Broker

Final Trades: Waste Connections, Boeing & Zillow from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.

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When Should You Change Your Asset Allocation?

A Wealth of Common Sense

A reader asks: My question is how does asset allocation strategy change with your net worth? For example, should someone of the same age with $10 million in net worth have the same allocation as someone with $1 million? The bulk of my career has been spent working in the institutional investment space — mainly foundations and endowments. These huge pools of capital liked to call themselves “sophisticated” invest.

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October Employment Preview

Calculated Risk

On Friday at 8:30 AM ET, the BLS will release the employment report for October. The consensus is for 200,000 jobs added, and for the unemployment rate to increase to 3.6%. There were 263,000 jobs added in September, and the unemployment rate was at 3.5%. Click on graph for larger image. • First, as of September there are 514 thousand more jobs than in February 2020 (the month before the pandemic).

Retail 140
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The Compound and Friends: No Pivot!

The Irrelevant Investor

Today’s Animal Spirits is brought to you by Masterworks: See here to learn more about investing in contemporary art and here for important disclosures* On today’s show we discuss: PayPal earnings Coinbase earnings November FOMC meeting Earnings season The Warren Buffet way still works Junk-bond deals on track for the slowest October and Year since 2008 Rising rates threaten to expose office building’s in.

Investing 130
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U.S. Port Markets See Outsized Industrial Rent Growth, Dwindling Availability

Wealth Management

The lack of available space and spiking rents around major U.S. ports is leading tenants to diversify or relocate to smaller ports around the country.

Marketing 132
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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.

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3 Nontraditional Ways to Give That Still Qualify for a Tax Deduction

Carson Wealth

Kevin Oleszewski, Senior Wealth Planner. ‘Tis the season to give. In fact, 37% of charitable giving occurs during the last quarter of the year — 20% of it in December alone, according to a survey conducted by the Blackbaud Institute. And while the holidays are traditionally a time to reflect on our blessings and help those less fortunate than ourselves, there’s another factor influencing the timing of these donations — and that’s the goal of minimizing a tax bill.

Taxes 98
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LPL to Acquire One of Its Own Branch Offices For the First Time

Wealth Management

The acquisition of Financial Resources Group Investment Services marks the first time LPL has bought one of its own branch offices. The firm will keep its brand and leadership team.

Investing 104
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4 Unconventional Vacations and Relocations

Integrity Financial Planning

As generations leave the workforce, retirement culture resets and reshapes in unique ways. You may have seen your parents choose to retire at home or in their community, but Baby Boomers have taken a different approach to retirement by relocating further from their hometowns or staying on the road for their retirement years. If you’re one for adventure, then consider these unconventional vacation and relocation options!

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Past the Midterms, Advisors Face New Rules

Wealth Management

“The market does not care who wins. The market does not care about the horserace," said Charles Schwab's managing director covering legislation and regulation. Yet there is a laundry list of federal policies brewing that will impact advisors.

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Banking on Loyalty: Holistic Financial Advice for Unparalleled Business Growth

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.

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Market Risk and Speculative Factors

Alpha Architect

Soroush Ghazi and Mark Schneider authors of the August 2022 study “Market Risk and Speculation Factors” decomposed the excess market return (the equity risk premium) into speculative (in the simple sense that it is negative, reflecting a premium investors pay to hold assets that are more subject to speculative demand) and non-speculative, or risk (in the simple sense that it is positive, a necessary characteristic for a factor to reflect compensation for risk) components.

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How Family Offices Can Adapt to Shifting Client Priorities

Wealth Management

Seventy million baby boomers are preparing to pass an estimated $15 trillion in assets to younger cohorts in the next 10 years.

Clients 120
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Create a winning team for you and your client

Million Dollar Round Table (MDRT)

By Aleen M. Swofford, CLU, ChFC When you think of yourself as the general manager of your client’s financial plan, you’ll guide the client to successfully achieve their goals and you’ll reach higher levels in your career. In sports, a general manager acquires the best coaches and players to create a winning team. In financial services, the advisor coordinates the client’s financial assets, plans and government programs so they work together harmoniously, creating a win for the client.

Clients 79
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Focus: RIA M&A Market Moving Away From ‘Amateur Hour’

Wealth Management

Focus CEO Rudy Adolf says the firm is well positioned to take advantage of a larger trend, where M&A activity is stronger among small- and mid-sized RIAs.

Marketing 102
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Transforming Lending: Understanding the Power of Digital Platforms

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.

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Weekly Initial Unemployment Claims at 217,000

Calculated Risk

The DOL reported : In the week ending October 29, the advance figure for seasonally adjusted initial claims was 217,000 , a decrease of 1,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 217,000 to 218,000. The 4-week moving average was 218,750, a decrease of 500 from the previous week's revised average.

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Mindy Diamond on Independence: 5 Themes Driving Change in the Wealth Management Industry

Wealth Management

In this special episode celebrating the fifth anniversary of the podcast, Mindy Diamond and Louis Diamond explore the most popular themes for financial advisors and independent business owners.

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Trade Deficit increased to $73.3 Billion in September

Calculated Risk

From the Department of Commerce reported : The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $73.3 billion in September , up $7.6 billion from $65.7 billion in August, revised. September exports were $258.0 billion, $2.8 billion less than August exports. September imports were $331.3 billion, $4.8 billion more than August imports. emphasis added Click on graph for larger image.

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Morningstar Debuts Direct Indexing Offering

Wealth Management

Direct indexing portfolios will be made available through the Morningstar Wealth Platform.

Portfolio 132
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Quick Start Guide to a Crystal Clear Close

Did you know automating your month-end close can save up to 40% of the time typically spent on manual reconciliations? CFOs and controllers are leveraging SkyStem's workflow management and reconciliation tool to eliminate costly mistakes, ditch manual reconciliations and close faster. Want to know how they do it? Download our Quick Start Guide to a Crystal Clear Close!

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“Interest rates have put the brakes on the market.”

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: “Interest rates have put the brakes on the market.” A brief excerpt: Here are some interesting real estate agent comments from around the country courtesy of Eric Finnigan , VP at John Burns Real Estate Consulting: #Sarasota, FL: “I've had numerous buyers looking but the prices are much higher than they want to spend.

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Eight Must Reads for the CRE Industry Today (Nov. 4, 2022)

Wealth Management

Washington Business Journal cites D.C. Property Tax Administration's assessment of the market value of the nation’s highest profile government buildings, such as the White House. The Empire State Building is among a number of office buildings that have installed beehives recently as part of an effort to bring back tenants, reports Commercial Observer.

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Customer Service Consulting: The Benefits Of CX Consulting

Steven J. Wilson

Customer service consulting is not a new concept, but it is one that is gaining in popularity as businesses strive to improve their customer experience (CX). With the continued rise of the digital age, customer expectations have increased, and they now demand a more personalized, convenient, and responsive customer service experience. In order to meet.

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What’s Worrying Advisors On The Eve of the SEC Ad Rule?

Wealth Management

The commission’s rule update on advertising and marketing reaches its compliance date on Friday, and experts are warning firms to make sure they’re ready.

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The Blueprint for a Customer-Centric Digital Lending Experience

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.

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Friday: Employment Report

Calculated Risk

My October Employment Preview Goldman October Payrolls Preview Friday: • At 8:30 AM ET, Employment Report for October. The consensus is for 200,000 jobs added, and for the unemployment rate to increase to 3.6%.

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The Wealth Management Firm of the Future: The Psychology of Managing Family Wealth with Richard Joyner

Wealth Management

The president of Tolleson Wealth Management discusses working with clients to build a financial plan based on a combination of psychology, one-on-one support and high-touch client service.

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Global Health IPO Review – GMP, Strengths, Weaknesses & More!

Trade Brains

Global Health IPO Review : Global Health Limited is coming up with its Initial Public Offering. The IPO will open for subscription on November 3rd, 2022, and close on November 7th, 2022. It is looking to raise Rs 2,205.57 Crores, out of which Rs 500 crores will be a fresh issue and the remaining Rs 1,705.57 Crores will be an offer for sale. In this article, we will look at the Global Health IPO Review 2022 and analyze its strengths and weaknesses.