Mon.Mar 20, 2023

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What is a Bailout?

The Big Picture

Silicon Valley Bank depositors made whole; Credit Suisse counter-parties saved; First Republic bondholders protected — are these bailouts or something else? Were these people “bailed out?” What are the differences between insured depositors getting their cash back, a private sector rescue orchestrated by the Fed or the Swiss government, and a taxpayer-funded bailout?

Banking 322
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How Listing Fees On Advisory Firm Websites Can Clearly Communicate The Cost (And Value) Of Planning

Nerd's Eye View

When a prospect is looking for a financial advisor, understanding how much they will need to pay can often be a tricky proposition. In part, this is due to the many commission-based advisors whose compensation depends on the sale of insurance or investment products, where the price that a client pays is baked into the price of the product or is included in (often opaque) fees associated with buying, selling, and/or holding the investment.

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10 Monday AM Reads

The Big Picture

My back to work morning train WFH reads: • Your NCAA Tournament Bracket Is a Business School in Disguise : What can you learn from the biggest upsets in college basketball? ( Wall Street Journal ) • What CEOs Are Getting Wrong About the Future of Work—and How to Make It Right : To build better companies, leaders need to experiment more, quit ‘living in fear of opening Pandora’s box,’ says Wharton management professor Adam Grant. ( Wall Street Journal ) see also Why Job Reshoring Is Merely a Tric

Banking 284
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Adviser links: ventilation of your schedule

Abnormal Returns

Podcasts Brendan Frazier talks with Deirdre Van Nest about communicating with clients in an emotionally-compelling way. (wiredplanning.com) Daniel Crosby talks with Emily Koochel about defining and seeking financial wellness. (standarddeviationspod.com) Banks The combined UBS-CS will be a money management giant. (barrons.com) The FDIC is planning to sell SVB Private separately from the rest of the bank.

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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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Yes, This Is a Bailout of Credit Suisse

The Reformed Broker

On this special episode of Live from The Compound, Jesse Eisinger (senior editor and reporter at ProPublica) joins Michael Batnick and Josh Brown to discuss UBS acquiring Credit Suisse, ProPublica’s new insider trading expose, and much more! Follow Jesse on: Twitter Book Let us know if we can help you with your financial plan or portfolio: [link]. The post Yes, This Is a Bailout of Credit Suisse appeared first on The Reformed Broker.

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MBA Survey: "Share of Mortgage Loans in Forbearance Decreases to 0.60% in February"

Calculated Risk

From the MBA: Share of Mortgage Loans in Forbearance Decreases to 0.60% in February The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 4 basis points from 0.64% of servicers’ portfolio volume in the prior month to 0.60% as of February 28, 2023. According to MBA’s estimate, 300,000 homeowners are in forbearance plans.

Portfolio 120
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Riskless at Age 104

Advisor Perspectives

A TIPS is risky in the short term and riskless in the long run, which is precisely the opposite of, and complementary to, a T-bill, which is riskless in the short term but, because of reinvestment rate volatility, risky in the long run.

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Understanding the Bank Panic of 2023 (Video)

Discipline Funds

We put together a brief video on the dynamics of what’s occurring in the banking system presently. We cover: How the credit cycle typically unfolds Why banks are being hurt in this environment I hope this adds some context to what’s going on and helps you better understand the current environment.

Banking 101
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NAIFA Mourns the Passing of Past President Terry Headley

NAIFA Advisor Today

NAIFA is sad to inform our members, partners, and friends that NAIFA Past President Terry K. Headley, LUTCF, FSS, LIC, passed away March 18, in Melbourne Beach, Florida. A loyal NAIFA member since 1974, Terry was a legend in the insurance and financial services industry. He was the Founder and President of Headley Financial Group in LaVista, Nebraska.

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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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: Wedbush upgrades NY Community Bancorp on ‘sweetheart deal’ for Signature Bank assets

MarketWatch

Wedbush on Monday upgraded New York Community Bancorp Inc. NYCB to outperform from neutral based on its expected earnings boost from its acquisition of Signature Bank’s loan and deposit portfolio, as announced by the Federal Deposit Insurance Corp. (FDIC). New York Community Bancorp is rallying 30% in premarket trades. New York Community Bancorp’s Flagstar unit will operate Signature Bank’s 40 branches starting Monday.

Assets 98
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First House Price Index goes Negative Year-over-year

Calculated Risk

This is for asking prices of a "common" home. Haus released their weekly Common Haus Price Index (CHPI) today showing a 0.2% decrease in asking house prices year-over-year. From Common Haus Price Index (CHPI) at Haus: The weekly Common Haus Price Index Each week, Haus releases the Common Haus Price Index (CHPI), a home price index of asking prices for the most common American home: a three-bed, two-bath, 1,500-square-foot home built in 1977 on a quarter-acre lot.

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Seven Must Reads for Real Estate Investors Today (March 21, 2023)

Wealth Management

The Real Deal looks at the potential impact of UBS buying Credit Suisse. The New York Times examines what it calls a chaotic liquidation of Bed Bath & Beyond’s Harmon Stores division. These are among today’s must reads from around the commercial real estate industry.

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Lies, Damn Lies, and Visions of Nuclear Catastrophe

Advisor Perspectives

The strongest force standing in the way of nuclear energy is the antiquated, irrational fear of it.

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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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Adjusted for Risk: All Things Direct Indexing With Revisor Wealth Management Partners' Landon Jones and Ethan Dunbar

Wealth Management

Revisor Wealth Management Partners' Landon Jones and Ethan Dunbar discuss the benefits of outsourcing investment management, and all things direct indexing, including how it's different than SMAs.

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Margin Debt Down 2.6% in February

Advisor Perspectives

FINRA has released new data for margin debt, now available through February. The latest debt level is at 624.38 billion, down 2.6% month-over-month (MoM) and down 25.3% year-over-year (YoY). However after adjusting for inflation, debt level is down 3.2% MoM and down 29.5% YoY.

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CFP Board's Ad Campaign Reflects Flexibility After Split

Wealth Management

The new advertisement begins running today, and comes several months after the Board announced a change to grant the organization more flexibility in its marketing.

CFP 98
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Principles of Pollex: Auto Purchases

Getting Your Financial Ducks In A Row

Photo credit: jb (In case you are confused by the headline: a principle is a rule, and pollex is an obscure term for thumb. Therefore, this on-going series is all about financial Rules of Thumb.) Buying a car is such a common activity that many folks don’t give much effort to following any “rules” around this purchase. I’ve often suggested a couple of rules that you may find useful or interesting… The Decision to purchase a car in the first place You need to be certain that your decision to purc

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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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WMRE's Common Area: Exploring Tax-Advantaged Real Estate Options

Wealth Management

Capital Square's Louis Rogers comes on the podcast to talk about 1031 exchanges, DSTs, Qualified Opportunity Zones and other tax-advantaged real estate options.

Taxes 98
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RIA SEO: Keyword Strategies for Financial Planners

XY Planning Network

10 MIN READ If you’ve found this blog from a Google search, then you’re in the right place. SEO might be one of the most daunting marketing acronyms you’ll come across. SEO for financial advisors can be even more complex. Likely you’re a financial advisor and business person first and a marketer second, which is why the thought of learning a whole new field of expertise might make you hesitate.

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Is the Future of Finance Behavioral?

Wealth Management

Dr. Daniel Crosby discusses Orion’s pursuit to have advisors utilize technology to help deepen client conversations, differentiate themselves and grow their firms.

Clients 98
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: ‘Ted Lasso’ star Jason Sudeikis talks mental health at White House, calls for taking care of each other

MarketWatch

Jason Sudeikis, who plays the title character in the Apple TV+ AAPL comedy “Ted Lasso,” emphasized the importance of mental health during a White House press briefing on Monday. “I truly believe that we should all do our best to help take care of each other. That’s my own personal belief,” Sudeikis said. President Joe Biden and first lady Jill Biden are welcoming Sudeikis and other “Ted Lasso” cast members to discuss mental health, according to the White House.

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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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Real Estate Investors Brace for a Liquidity Squeeze Amid Bank Sector Turmoil

Wealth Management

The failures of major regional banks last week have created a new round of uncertainty for real estate capital markets.

Banking 108
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: NYSE has told Silvergate it is not in compliance with listing rules, following delay of annual report filing

MarketWatch

Silvergate Capital Corp. SI on Monday said it had received a letter from the New York Stock Exchange notifying the company that it had breached the exchange’s listing standards after the bank failed to file its 2022 annual report in a timely manner. The company, the parent of the crypto-friendly Silvergate Bank, said it received the letter on March 17, not long after it said it intended to wind down operations and liquidate the bank.

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How to Commit to Organic Growth as a Young RIA

Wealth Management

RIA firms are finding it difficult to grow outside of M&A and market performance. The timing may be perfect for RIAs to commit to organic growth and all that it reveals about who they are, who they serve, and why they do what they do. Dennis Morton, co-founder and principal at Morton Brown Family Wealth, discusses steps to creating a successful organic growth strategy.

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: Biden issues first veto of presidency over attempt to change ESG rules

MarketWatch

President Joe Biden on Monday vetoed an attempt to change rules in retirement plans that dictate how much managers consider climate change, corporate board diversity and other factors when picking stocks and funds. It was the first veto of his presidency. Biden in a statement said fiduciaries “should be able to consider any factor that maximizes financial returns for retirees across the country.

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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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Diversifying Beyond the 60/40 Portfolio: Part 2

Wealth Management

Investors can improve the odds of achieving their financial goals by including alternative investments in their portfolios.

Portfolio 108
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: President Biden has confidence in Fed chief Powell, White House says

MarketWatch

The Biden White House expressed confidence on Monday in how Federal Reserve Chairman Jerome Powell is helping to handle the banking crisis. When asked if President Joe Biden thinks that Powell’s stewardship of recent events puts the Fed chief at risk of losing his position, White House press secretary Karine Jean-Pierre said: “No, not at all. The president has confidence in Jerome Powell.

Banking 75
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The Rise of the “Moneyball Era” of Commercial Real Estate

Wealth Management

Now is the time for commercial real estate professionals to adopt AI-based best practices and navigate the vertical market.

Marketing 104