Wed.Feb 01, 2023

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Construction Spending Decreased 0.4% in December

Calculated Risk

From the Census Bureau reported that overall construction spending decreased: Construction spending during December 2022 was estimated at a seasonally adjusted annual rate of $1,809.8 billion, 0.4 percent below the revised November estimate of $1,817.3 billion. The December figure is 7.7 percent above the December 2021 estimate of $1,681.0 billion. The value of construction in 2022 was $1,792.9 billion, 10.2 percent above the $1,626.4 billion spent in 2021. emphasis added Both private and public

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Now listen up and listen good

The Reformed Broker

Now listen up and listen good. Last May 4th, Fed Chairman Jay Powell told a press conference that “A 75 basis point increase is not something that the committee is actively considering.” Five weeks later, the Fed hiked rates by 75 basis points. Then he did another 75 basis points, then another 75 basis points, then another 75 basis points.

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Pontera Announces Integration with Envestnet's Tamarac Platform

Wealth Management

The integration will enable advisors using Tamarac to manage client defined contribution accounts from within the platform.

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Gavin Spitzner is Future Proof

The Reformed Broker

Gavin Spitzner loved the wealth management industry and the industry loved him back. Gavin was the founder of Wealth Consulting Partners and he was one of the most well known and beloved voices in the business. He passed away on Monday according to his family after struggling with acute myeloid leukemia (AML) which he was diagnosed with in September.

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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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13 Top Markets for Life Sciences Space Demand

Wealth Management

As investment in life sciences real estate slows a bit, CBRE provides a deep dive into which cities are seeing the most interest from tenants right now, and how those statistics compare to the current market vacancy and amount of pre-leased space under construction.

Marketing 310
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Clips From Today’s Closing Bell

The Reformed Broker

Josh Brown breaks down Wednesday’s post-Fed market action from CNBC. The post Clips From Today’s Closing Bell appeared first on The Reformed Broker.

Marketing 255

More Trending

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Personal finance links: trading time

Abnormal Returns

Podcasts Christine Benz and Jeff Ptak talk with Ann Garcia the author of the book "How to Pay for College." (the-long-view.simplecast.com) Larry Bernstein talks with Victor Hagani and Myron Scholes about the essentials of investing. (elmwealth.com) Layoffs Steps to take, and not, if you get laid off. (thisisthetop.substack.com) Make sure you take advantage of all the resources available to you when you get laid off.

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How One CRE Fund Manager Is Adapting to a New Cycle Phase

Wealth Management

ElmTree Funds’ Annie Hsieh talks about how investment managers are capitalizing on current market opportunities.

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Vehicles Sales Increased to 15.74 million SAAR in January

Calculated Risk

Wards Auto released their estimate of light vehicle sales for January: U.S. Light-Vehicle Sales Record Fifth Consecutive Increase in January (pay site). Wards Auto estimates sales of 15.74 million SAAR in January 2023 (Seasonally Adjusted Annual Rate), up 17.6% from the December sales rate, and up 4.2% from January 2022. Click on graph for larger image.

Sales 246
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Managing Real Estate Assets Through inflation

Wealth Management

Managing a real estate asset through uncertain economic times largely relies on controlling expenses and optimizing revenue. Getting these fundamentals right is something that good property managers excel at.

Assets 290
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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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Wednesday links: when volatility is your friend

Abnormal Returns

Markets How major asset classes performed in January 2023. (capitalspectator.com) January's market rally was kinda junky. (ft.com) Fixed income On the trade-off between buying long-term vs. short-term bonds. (ofdollarsanddata.com) Brokerages are attracting more customers to their banking services. (wsj.com) Companies Add Paypal ($PYPL) to the list of companies doing layoffs.

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FINRA Suspends Two NY Reps for Reg BI Violations

Wealth Management

Two brokers with the firm Laidlaw & Co. were penalized for excessive trades that were unsuitable for clients.

Clients 278
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Paid Solicitation Under The SEC Marketing Rule: Using Third-Parties For Lead Generation And Prospecting

Nerd's Eye View

Financial advisors who pay third parties to solicit or refer prospective clients to generate new business have historically been subject to the SEC’s Cash Solicitation Rule. However, that rule was drafted in an era where most paid referral relationships were between individuals, such as a financial advisor who paid a third-party accountant to refer clients their way.

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10 Must Reads for CRE Investors Today (Feb. 2, 2023)

Wealth Management

Kushner Cos. says it is still interested in buying Veris Residential, who it accused of misleading the public, reports Bisnow. Nareit issued a rundown of REIT secondary debt and equity offerings. These are among today’s must reads from around the commercial real estate 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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We’re Hiring!

The Big Picture

We are hiring! We are looking for client service associates who can help us continue to grow. We offer fantastic perks and benefits such as: Great company culture We embrace diversity and inclusion Remote/Work from home Comprehensive Benefits package 401k with match Generous time off Paid Parental Leave Support for Community Volunteering Exclusive employee discounts, special offers, and tickets to top attractions, theme parks etc.

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Americans Are Leaving High-Tax New York and Moving to Florida

Wealth Management

New Jersey, California and Illinois are also among the places losing residents as lower costs draw people to the Sun Belt.

Taxes 264
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MBA: Mortgage Applications Decreased in Latest Weekly Survey

Calculated Risk

From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 9.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 27, 2023. The Refinance Index decreased 7 percent from the previous week and was 80 percent lower than the same week one year ago.

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Helping Prospects Overcome Three Fundamental Planning Obstructions

Wealth Management

Often all it takes is the right "nudge" to get them started.

Planning 264
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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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FOMC Statement: Raise Rates 25 bp; "Ongoing increases appropriate"

Calculated Risk

Fed Chair Powell press conference video here or on YouTube here , starting at 2:30 PM ET. FOMC Statement: Recent indicators point to modest growth in spending and production. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation has eased somewhat but remains elevated. Russia's war against Ukraine is causing tremendous human and economic hardship and is contributing to elevated global uncertainty.

Economics 162
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The WealthStack Podcast: 2023 WealthTech Outlook with Davis Janowski

Wealth Management

In the relaunched WealthStack podcast hosted by Shannon Rosic, she and Davis Janowski discuss technology’s role as a driving force for success in the wealth management industry.

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BLS: Job Openings Increased to 11.0 million in December

Calculated Risk

From the BLS: Job Openings and Labor Turnover Summary The number of job openings increased to 11.0 million on the last business day of December, the U.S. Bureau of Labor Statistics reported today. Over the month, the number of hires and total separations changed little at 6.2 million and 5.9 million, respectively. Within separations, quits (4.1 million) and layoffs and discharges (1.5 million) changed little. emphasis added The following graph shows job openings (black line), hires (dark blue),

Numbers 147
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ETFs with the Worst Returns over the Past Five Years

Wealth Management

The last half-decade was not good to these funds.

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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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Rents Continue to Decline; "Apartment Market Loosens"

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: Rents Continue to Decline; "Apartment Market Loosens" A brief excerpt: The rental market has changed rapidly. This index from the National Multifamily Housing Council (NMHC) has been an excellent leading indicator for rents and vacancy rates , and this suggests higher vacancy rates and falling asking rents in the coming months.

Marketing 147
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FINRA Suspends 2 NY Reps For Reg BI Violations

Wealth Management

Two brokers with the firm Laidlaw & Co. were penalized for excessive trades that were unsuitable for clients.

Clients 246
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ADP: Private Employment Increased 106,000 in January

Calculated Risk

From ADP: ADP National Employment Report: Private Sector Employment Increased by 106,000 Jobs in January; Annual Pay was Up 7.3% Private sector employment increased by 106,000 jobs in January and annual pay was up 7.3 percent year-over-year, according to the January ADP® National Employment ReportTM produced by the ADP Research Institute® in collaboration with the Stanford Digital Economy Lab (“Stanford Lab”).

Economy 147
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First NFT ETF Is Closing as Once-Hot Crypto Trend Fizzles

Wealth Management

“The fund failed to attract assets.

Assets 162
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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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ISM® Manufacturing index Declined to 47.4% in January

Calculated Risk

(Posted with permission). The ISM manufacturing index indicated contraction. The PMI® was at 47.4% in January, down from 48.4% in December. The employment index was at 50.6%, down from 50.8% last month, and the new orders index was at 42.5%, down from 45.1%. From ISM: Manufacturing PMI® at 47.4% January 2023 Manufacturing ISM® Report On Business® conomic activity in the manufacturing sector contracted in January for the third consecutive month following a 28-month period of growth, say the natio

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Blackstone’s $69 Billion Real Estate Fund Hit Monthly Redemption Limit in January

Wealth Management

Blackstone Real Estate Income Trust told investors Wednesday that it fulfilled repurchase requests for 2% of its net asset value. That accounted for about 25% of what investors wanted to pull out, according to a letter. January repurchase requests were north of $5 billion, according to Bloomberg calculations.

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How to Maintain and Grow Your Email Subscribers

Advisor Perspectives

I’ll share strategies you can use to grow your list, manage it, and connect with subscribers effectively – broken down into four steps you can easily accomplish over a month.

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Fed Slows Rate Hikes, Signals Further Increases Are Coming

Wealth Management

The unanimous decision by the Federal Open Market Committee was in line with financial market expectations.

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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.