Tue.Oct 11, 2022

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Tuesday links: the mountain of success

Abnormal Returns

Strategy Mark Rzepczynski, "Every good trader thinks about opportunity cost and exit strategies. In fact, quitting is the core skill for protecting principal." (mrzepczynski.blogspot.com) Jason Zweig, "Try to watch a tree growing, and you see nothing; yet it is growing all the same. It can send out new branches and green foliage for several human lifetimes.

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#FA Success Ep 302: Structuring Your Ideal Week To Become A Highly-Leveraged Individual Advisor, With Libby Greiwe

Nerd's Eye View

Welcome back to the 302nd episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Libby Greiwe. Libby is the owner of The Efficient Advisor, a financial advisor coaching and consulting business based out of Loveland, Ohio, that’s focused on helping advisors create systems and processes for themselves so that they can run their businesses in less time and with less stress.

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Research links: longer eras

Abnormal Returns

Retail Kris Abdelmessih, "Options trading is high margin for the brokerage. A mirror of what it looks like for the client." (moontowermeta.com) Are retail investors to blame for stock market seasonality? (papers.ssrn.com) Behavior More information makes us overconfident. (klementoninvesting.substack.com) Just because you can Google something doesn't mean you understand it.

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The Last Time the Fed Created a Recession

A Wealth of Common Sense

The long-term average inflation rate in the United States going back 100+ years is right around 3% per year. Obviously, there is a range around that long-term average. For instance, in the 38 years from 1983-2020, inflation finished the year below 3% more than 60% of the time. Inflation was running at more than 4% in just 5 years and finished above 5% just once (in 1990 when it was 5.4%).

Marketing 127
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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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There’s No Fed "Pivot” Coming

Pragmatic Capitalism

When you pivot in basketball you have full control of the ball and the future outcomes.

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Mall Giant Simon Buying 50% of Real Estate Investor Jamestown

Wealth Management

Simon will acquire the stake from Jamestown founding partners Christoph and Ute Kahl. The Kahls will continue to be shareholders of the Atlanta-based firm, which had more than $13 billion in assets under management as of June 30.

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MBA: Mortgage Credit Availability was Never Excessive During the Recent Housing Boom

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: MBA: Mortgage Credit Availability was Never Excessive During the Recent Housing Boom A brief excerpt: Although mortgage credit availability decreased in September (the MBA headline below), the most important point is mortgage credit availability was never excessive during the boom. Here is the expanded series from the MBA of mortgage credit availability that includes the bubble years (2004 - 2006).

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Journey Strategic Wealth Recruits 3 Teams, $210M in Assets

Wealth Management

The new teams come from Private Advisor Group, Raymond James and New York Life subsidiary Eagle Strategies.

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6 Important Components of Estate Planning

James Hendries

Basic estate planning is something that everyone should do, regardless of your age, marital status, the value of your assets, and if you’re a parent or not. According to a 2021 poll by Gallup , less than half of U.S. adults (46%) have a will that dictates what happens to their assets when they die. This statistic illustrates that more Americans should consider estate planning to help ensure their assets transfer quickly to their heirs.

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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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DOL Proposes New Independent Contractor Rule

Wealth Management

Once again, the DOL could put the employment status of independent broker/dealers in jeopardy. FSI president Dale Brown questioned whether the department gave enough attention to feedback from the industry when formulating the proposal.

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Second Home Market: South Lake Tahoe in September

Calculated Risk

With the pandemic, there was a surge in 2nd home buying. I'm looking at data for some second home markets - and I'm tracking those markets to see if there is an impact from lending changes, rising mortgage rates or the easing of the pandemic. This graph is for South Lake Tahoe since 2004 through September 2022, and shows inventory (blue), and the year-over-year (YoY) change in the median price (12-month average).

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Claiming Spousal Social Security Benefits

Mullooly Asset Management

Almost everyone knows they’ll receive social security in retirement. But many people don’t realize that their spouse may qualify for spousal social security benefits as well! Social security is a big piece of the retirement puzzle. When should you claim? How do you claim? How will my benefits affect the overall outcome of my retirement? […].

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CIO Perspectives Podcast: Private markets, slowing global growth and are bonds back?

Brown Advisory

CIO Perspectives Podcast: Private markets, slowing global growth and are bonds back? mhannan. Tue, 10/11/2022 - 13:22. Investors have plenty of challenges to focus on as a volatile year enters its final months. The global growth picture seems to be slowing, corporate earnings may face headwinds and geopolitical tensions seem to be rising. And while we believe private markets continue to be hotbeds of innovation and long-term outperformance, they too face some challenges.

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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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Rich Millennials Have Lost Confidence in Stock Market, BofA Says

Wealth Management

Individuals ages 21 to 42 with at least $3 million in assets have only a quarter of their portfolio in equities, compared with more than half for those who are older.

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Permanent Portfolio Review

Dear Mr. Market

Dear Mr. Market: Simple allocation ? In a year where the stock market has provided zero safe places to hide…you may have changed, the markets certainly have, but one thing has not; the Permanent Portfolio. We’ve reviewed the Permanent Portfolio before but believe it’s time to check in and provide an update on how it’s doing relative to the broad markets now as well as chime in on whether the strategy still has merit going forward.

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Making It Easier to Transition Portfolios

Wealth Management

Model portfolios are an increasingly popular way for advisors to reduce the time needed to manage individual client portfolios. This way, advisors can spend more time growing their overall practice while providing existing clients with the benefits of a professionally-managed portfolio.

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CIO Perspectives Podcast: Private markets, slowing global growth and are bonds back?

Brown Advisory

CIO Perspectives Podcast: Private markets, slowing global growth and are bonds back? mhannan Tue, 10/11/2022 - 13:22 Investors have plenty of challenges to focus on as a volatile year enters its final months. The global growth picture seems to be slowing, corporate earnings may face headwinds and geopolitical tensions seem to be rising. And while we believe private markets continue to be hotbeds of innovation and long-term outperformance, they too face some challenges.

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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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Seven Must Reads for the CRE Industry Today (Oct. 12, 2022)

Wealth Management

The Wall Street Journal looks at the struggles of regional mall owners. The Dodge Momentum Index for commercial construction spending rose in September. These are among today’s must reads from around the commercial real estate industry.

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2021 Impact Report: Sustainable Small-Cap Core Strategy

Brown Advisory

2021 Impact Report: Sustainable Small-Cap Core Strategy mhannan Tue, 10/11/2022 - 17:44 Download the Report A Letter of Introduction From The Portfolio Managers Brown Advisory has made a deep commitment to sustainable investing, across a wide range of its equity and fixed income strategies. We firmly believe that there does not have to be a trade-off between strong performance and smart investments that help address society’s trickiest sustainability challenges.

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Hearsay Rolls Out Client Engagement Platform For RIAs

Wealth Management

The new platform bundles content generation and analytics, social media management and compliance features, among others.

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Fundamental Analysis Of Marico – History, Future Plans & Much More

Trade Brains

Fundamental Analysis Of Marico: Renowned investor Philip Fisher advocated purchasing stocks that you see around yourself. They are easy to understand and you can put your personal understanding of their products to good use. The ubiquitous blue bottle of ‘Parachute Coconut Oil is one such product found almost in every home. We grew up using it and savoring its smell.

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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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Solving the Client Puzzle with Householding

Wealth Management

Financial planning often involves managing multiple accounts. These accounts have specific risk profiles, but individually, they do not represent a client’s full risk picture or even total wealth. In fact, when accounts are viewed together, the aggregate risk may look very different. How can you gain more visibility?

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2021 Impact Report: Sustainable Small-Cap Core Strategy

Brown Advisory

2021 Impact Report: Sustainable Small-Cap Core Strategy. mhannan. Tue, 10/11/2022 - 17:44. Download the Report. . A Letter of Introduction From The Portfolio Managers. Brown Advisory has made a deep commitment to sustainable investing, across a wide range of its equity and fixed income strategies. We firmly believe that there does not have to be a trade-off between strong performance and smart investments that help address society’s trickiest sustainability challenges.

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Salve for the SALT Tax Wound

Wealth Management

Some states have established a pass-through entity tax that enables certain entities to avoid the SALT deduction cap.

Taxes 104
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Avoid These 3 Common Errors When Meeting the October 17 Tax Extension Deadline

Tobias Financial

The tax extension deadline is October 17. Watch out for these 3 common errors, advisors warn. If you are looking to meet the October 17 tax extension deadline, it is important to make sure you do not skip any forms as you are trying to reach the finish line. You may prevent issues such as stalled refunds and future IRS notices by including all details and filling out all necessary forms when filing your return. .

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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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U.S. Retailers Looking Past China for Suppliers See Costs Jump 30%

Wealth Management

Even though Mexico’s manufacturing costs are as much as 30 percent higher than China’s for Returnity, the absence of tariffs and the speed of trucks give its customers a rarity in today’s disorderly arena of global commerce: more certainty about when their delivery will arrive.

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Wednesday: PPI, FOMC Minutes

Calculated Risk

From Matthew Graham at Mortgage News Daily: Mortgage Rates Escape Harsher Fate as Bonds Fight to Hold Ground Treasury futures took a beating on Monday as the UK bond market once again traded in panic mode. The high rate implications were still in place as of Tuesday's overnight trading. 10yr Treasury yields broke above 4.0% yet again and continued struggling to move much lower until later in the trading day.

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Strategic Planning for 2023: Think ‘What’ Not ‘Why’

Wealth Management

The conversation shouldn’t be about “How are we going to get more?” it needs to be, “What do we want more of?