The Reformed Broker
FEBRUARY 1, 2023
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.
The Big Picture
FEBRUARY 1, 2023
Welcome to February! Kick off the new month with our mid-week train WFH reads: • The Shipping Industry Is Getting a Slew of New Vessels—Right as Demand Cools : Carriers plowed pandemic profits into a fleet of bigger cargo vessels. They’re arriving just as trade growth is softening. ( Businessweek ) • The Junkification of Amazon : Why does it feel like the company is making itself worse?
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The Reformed Broker
FEBRUARY 1, 2023
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.
The Big Picture
FEBRUARY 1, 2023
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.
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.
The Reformed Broker
FEBRUARY 1, 2023
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.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Nerd's Eye View
FEBRUARY 1, 2023
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.
Calculated Risk
FEBRUARY 1, 2023
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
Wealth Management
FEBRUARY 1, 2023
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.
Advisor Perspectives
FEBRUARY 1, 2023
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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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
FEBRUARY 1, 2023
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.
NAIFA Advisor Today
FEBRUARY 1, 2023
Matthew C. Daley, MBA, FSCP, LACP, LUTCF , grew up in the life insurance world, but his journey to the top wasn’t easy. He relied on grit, determination, and the support of those around him to overcome addiction and build a thriving insurance agency from the ground up.
Wealth Management
FEBRUARY 1, 2023
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.
MarketWatch
FEBRUARY 1, 2023
The S&P 500 and Nasdaq Composite closed sharply higher on Wednesday, erasing earlier losses, after the Federal Reserve increased its benchmark short-term rate by a smaller 25 basis point increment. The Dow Jones Industrial Average edged up by about 6 points, or less than 0.1%, ending near 34,092. But the S&P 500 index gained 1.1% and the Nasdaq Composite Index posted a 2% climb, according to preliminary FactSet data.
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
FEBRUARY 1, 2023
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.
MarketWatch
FEBRUARY 1, 2023
The Federal Bureau of Investigation on Wednesday is searching President Joe Biden's home in Rehoboth Beach, Del., according to multiple published reports. The FBI's search is tied to the ongoing probe into classified documents, according to CBS News. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Wealth Management
FEBRUARY 1, 2023
The integration will enable advisors using Tamarac to manage client defined contribution accounts from within the platform.
Calculated Risk
FEBRUARY 1, 2023
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.
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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.
Good Financial Cents
FEBRUARY 1, 2023
Investing in a guaranteed interest account is a great way to secure your money, as there is very little risk. Guaranteed interest accounts provide reliable, consistent returns and can be used for short-term savings or to supplement other investments in your portfolio. But with so many options available, it can be hard to decide which type of account is right for you.
eMoney Advisor
FEBRUARY 1, 2023
A sense of ambiguity about the future and financial stress is taking a toll on our clients’ mental, physical, and relational well-being. And because you care about your clients, you are probably feeling the strain as you work to help them cope. You’ve likely heard the saying, “what doesn’t kill you makes you stronger,” and whether it’s from the original translation of Nietzsche or the more recent adaptation by Kelly Clarkson, it’s an outlook that continues to
Calculated Risk
FEBRUARY 1, 2023
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.
Wealth Management
FEBRUARY 1, 2023
ElmTree Funds’ Annie Hsieh talks about how investment managers are capitalizing on current market opportunities.
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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!
MarketWatch
FEBRUARY 1, 2023
Stocks DJIASPX were lower prior to the Fed statement. The yield on the 10-year Treasury note BX:TMUBMUSD10Y was down slightly to 3.47%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Wealth Management
FEBRUARY 1, 2023
Two brokers with the firm Laidlaw & Co. were penalized for excessive trades that were unsuitable for clients.
MarketWatch
FEBRUARY 1, 2023
Market-implied odds that the Federal Reserve could deliver another 25 basis point interest-rate hike at its May meeting improved Wednesday following the Fed’s latest decision on interest rates. Fed funds futures, which traders use to place bets on changes in interest rates, are now pricing in 40% probability of the Fed funds rate topping 5% in May. That’s slightly higher than before the release of the Fed’s latest statement, which accompanied its decision to hike rates by 25 basis points to 4.75
Wealth Management
FEBRUARY 1, 2023
New Jersey, California and Illinois are also among the places losing residents as lower costs draw people to the Sun Belt.
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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.
MarketWatch
FEBRUARY 1, 2023
Hologic Inc. HOLX stock rose nearly 3% in the extended session Wednesday after the medical technology company reported quarterly earnings and sales that topped Wall Street views and raised its outlook for fiscal 2023. Hologic earned $187.4 million, or 75 cents a share, compared with $499.2 million, or $1.95 a share, in the year-ago period. Adjusted for one-time items, Hologic earned $1.07 a share.
Wealth Management
FEBRUARY 1, 2023
Two brokers with the firm Laidlaw & Co. were penalized for excessive trades that were unsuitable for clients.
MarketWatch
FEBRUARY 1, 2023
Altria Group Inc. MO said Wednesday it had net income of $2.690 billion, or $1.50 a share, in the fourth quarter, up from $1.624 billion, or 88 cents a share, in the year-earlier period. Excluding one-time items, the tobacco company had adjusted EPS of $1.18, just ahead of the $1.17 FactSet consensus. Revenue fell 2.3% to $6.111 billion, while FactSet was calling for $5.148 billion.
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