Thu.Aug 04, 2022

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10 Thursday AM Reads

The Big Picture

My morning train WFH reads: • Could This Little European Fund Be the Spark for a ‘Vanguard of Hedge Funds’? Hedge fund replication — which can be thought of as a slightly more complicated version of a stock index fund — just got a big boost from a small fund. Seven years after its launch, an SEI fund is beating all its illustrious peers. That could be enough to finally make this hedge fund replication’s moment.( Institutional Investor ). • Things Are Clear as Mud : This year has been all about i

Economy 272
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Longform links: restaurant problems

Abnormal Returns

Books An excerpt from Peter Norton’s book “Fighting Traffic: The Dawn of the Motor Age in the American City.” (thereader.mitpress.mit.edu) An excerpt from "The Grieving Brain: The Surprising Science of How We Learn from Love and Loss by Mary-Frances O’Connor. (behavioralscientist.org) Environment Louisiana has been losing land for decades. A look at a plan to reverse things.

Media 218
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Surprises? Not Many

The Big Picture

“With over 71% of S&P 500 companies finished reporting revenues and earnings for Q2-2021, the revenue and earnings surprises are at their lowest levels since the pandemic recovery began. Revenues are beating the consensus forecast by 2.5%, and earnings have exceeded estimates by 5.6%.” – Ed Yardeni. We enter the dog days of summer with markets coming off of their best July in years.

Economics 261
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Trade Deficit decreased to $79.6 Billion in June

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 $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised. June exports were $260.8 billion, $4.3 billion more than May exports. June imports were $340.4 billion, $1.0 billion less than May imports. emphasis added Click on graph for larger image.

Economics 144
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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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11 Must Reads for the CRE Industry Today (Aug. 5, 2022)

Wealth Management

Las Vegas’ hospitality and casino industries are booming, reports The Wall Street Journal. GeekWire looks at the role online investment platforms have played in the U.S. housing market. These are among today’s must reads from around the commercial real estate industry.

Investing 113

More Trending

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Edelman Financial Engines Acquires Smart Investor

Wealth Management

Edelman acquires a Northern California firm with small retirement plan capabilities as it moves to incorporate more M&A into growth strategy.

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Is Housing a Bubble Waiting to Pop?

A Wealth of Common Sense

A reader asks: For all these new home buyers who bought at massive house prices due to ultra-low rates…will they then get screwed when house prices normalize with ~6% rates being the norm? So like when they sell their home to move, they may be selling at a loss? Is this not a bubble waiting to pop? This is always a possibility. There was a massive pull forward in housing returns these past couple of years.

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Hotels: Occupancy Rate Down 3.8% Compared to Same Week in 2019

Calculated Risk

From CoStar: STR: US Hotels Continue To Increase Lead Over Pre-Pandemic Performance U.S. hotel performance dipped slightly from the previous week, which was the traditional summer travel peak, according to STR‘s latest data through July 30. July 24-30, 2022 (percentage change from comparable week in 2019*): • Occupancy: 71.9% (-3.8%) • Average daily rate (ADR): $158.32 (+18.3%) • Revenue per available room (RevPAR): $113.90 (+13.9%) *Due to the pandemic impact, STR is measuring recovery against

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Financial Advisor Website Showcase: New Lantern Advisors

FMG

For today’s Advisor Website Showcase, we are joined by Michael Allison of New Lantern Advisors. We sent Michael some of our most in-depth questions so far to see how he handled his website, transitioning into virtual work, and fighting against his kryptonite. Modernize Your Website. The second you open the New Lantern Advisors website, you’re instantly drawn in with a unique and interesting animated set of videos along with a CTA.

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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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Weekly Initial Unemployment Claims increase to 260,000

Calculated Risk

The DOL reported : In the week ending July 30, the advance figure for seasonally adjusted initial claims was 260,000, an increase of 6,000 from the previous week's revised level. The previous week's level was revised down by 2,000 from 256,000 to 254,000. The 4-week moving average was 254,750, an increase of 6,000 from the previous week's revised average.

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The 7 Best Student Loans for 2022

Good Financial Cents

The best student loans can help you borrow money for college without going broke. They do this by offering competitive interest rates, fair repayment terms, and flexible monthly payments that can fit with your lifestyle and your budget. While most borrowers should focus on federal student loans first, private student lenders can help you fill in funding gaps so you can get through school and graduate on time.

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Mindy Diamond on Independence: Ex-Merrill ACTM Chair to Independent Business Owner

Wealth Management

Kelly Milligan describes his journey at Merrill from zero to $1.5B in AUM, his role as chair of the ACTM, the change in culture at the firm and how that motivated him and his team to launch independent firm Quorum Private Wealth.

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July Employment Preview

Calculated Risk

On Friday at 8:30 AM ET, the BLS will release the employment report for July. The consensus is for 250,000 jobs added, and for the unemployment rate to be unchanged at 3.6%. There were 372,000 jobs added in June, and the unemployment rate was at 3.6%. Click on graph for larger image. • First, currently there are still about 500 thousand fewer jobs than in February 2020 (the month before the pandemic).

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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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How To Use Case Studies on Your Advisor Website: A Complete Guide

Twenty Over Ten

If you’re trying to add a little something extra to your website, case studies may be just the new creative piece you’re looking for!

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Hype or Not? Episode 6: Decumulation Technology

Wealth Management

Senior Tech Editor Davis Janowski and industry consultant Tim Welsh debate the merits of technology platforms aimed at helping clients in the decumulation phase.

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Why I decided to part ways with my mentor 

Million Dollar Round Table (MDRT)

By Xiao Chen, CFP This is one of the major decisions I had to make during my business career. When I started in the financial services profession, I was with a mentor, and she was a very warm person. She taught me a lot — everything that I needed to know to get started. But later on, as I took on more of a management role within the company, there were some fundamental philosophical differences on in how we run our businesses.

CFP 79
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WeWork Offices Are Now Just as Full as They Were Before the Pandemic

Wealth Management

WeWork management has maintained that more customers are drawn to its flexible office space offering as they attempt to figure out long-term real estate strategies in a new world of hybrid and remote work. It now has 62,000 subscriptions to its All-Access pass.

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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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ChipGate

David Nelson

David joins the National Report to discuss the Senate Semiconductor bill and insider trading by members of Congress.

Economy 98
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Life Insurance at Policy Maturity

Wealth Management

The policy death benefit often doesn’t stay in force automatically; you have to ask for it.

Insurance 117
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Market Trap?

David Nelson

David joins Fox Business host Charles Payne and Strategic Wealth Partners CEO Mark Tepper to discuss the recent rally in risk assets.

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SEC Tells Advisors How To Address Conflicts of Interest

Wealth Management

The SEC staff bulletin detailed instances in which firms may be required to disclose, mitigate and if necessary, eliminate conflicts of interest to comply with the Regulation Best Interest rule.

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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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13 Recession Proof Stock Ideas (Outperform the Market)

Good Financial Cents

Recession-proof stocks – is there even such a thing? In an absolute sense, the general answer is no. Recessions are an economy in decline, resulting in lower revenues and profits for most companies. That commonly translates into a flat (at best) or declining stock market. Green Recession Ahead Road sign on Cloud Background. Does that mean you, as an investor, are doomed to lose money in your portfolio during a recession?

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Hub International Buys $2.3B RIA WealthPlan

Wealth Management

Hub International's latest acquisition will continue its Southwest expansion.

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Goldman July Payrolls Preview

Calculated Risk

A few brief excerpts from a note by Goldman Sachs economist Spencer Hill: We estimate nonfarm payrolls rose by 225k in July (mom sa). The July seasonal factors have become significantly more restrictive—even more so than in June—and the seasonal adjustment algorithm may be overfitting to the reopening-related job strength in the summers of 2020 and 2021.

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RIA Edge Podcast: Jim Gold on Breaking the Mold in the RIA Business

Wealth Management

The co-founder and CEO of Steward Partners discusses the biggest drivers of growth in his firm.

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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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18 Sinking Fund Categories To Consider In Your Budget

Clever Girl Finance

Budgeting isn’t just about making sure you have enough to pay for the bills each month. It’s also about planning ahead for future expenses. While you should have an emergency fund, the best way to be smart about saving each month is to set up different sinking fund categories. Sinking funds allow you to put money aside each month for specific things.

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Q&A: Lacey Shrum's Quest to Fix RIAs' Billing Problems

Wealth Management

The attorney and founder of Smart Kx talks about the why behind her startup, among other things.

Startup 113
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More Risk Assessment Danger

Norman Marks

When I was setting up ERM for Business Objects S.A., I was surprised by the reaction of the General Counsel, David. I had already met with the CEO and his other direct reports. Now David and I were meeting so I could get his insights on the more significant sources of risk to the company […].