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Fascinating discussion this morning from Robin Powell. He points to a research note from Kings College where the authors surveyed active managers about how they were responding to the shift in favor from active to passive fund management over the past decade or two. But they also asked questions about how these managers invested their own monies. Robin buries the lede in his discussion, but allow me to correct that oversight: “ Active managers invest their own capital passively.” Man
Financial advisors have a wide range of strategies at their disposal to create financial plans for their clients. And when it comes to retirement planning, one popular technique is the use of ‘guardrails’, which set an initial monthly withdrawal rate that can be later adjusted as the size of the client’s portfolio changes. This strategy is valuable because it generally allows for higher initial withdrawal rates than more static approaches that don’t accommodate clients wi
Welcome to the January 2023 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors! This month's edition kicks off with the news that Envestnet has decided to enter the RIA custodial business through a partnership with Australian bank FNZ to white-label what was once the State Street RIA custodial platform of many years ago –
Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report released today from Chief Economist Danielle Hale: Weekly Housing Trends View — Data Week Ending Jan 21, 2023. Note: They have data on list prices, new listings and more, but this focus is on inventory. • Active inventory growth continued to climb with for-sale homes up 69% above one year ago.
The office of the CFO is rapidly evolving, with more and more demands being placed upon the finance and accounting team each year. Join us in this webinar, where we share 8 things to NOT do when it comes to helping the CFO office advance in supporting the business. Learning Objectives: This course objective is to understand how best to support an organization's finance leadership.
In a settlement, FINRA said the firm mistakenly believed that third-party b/ds executing the trades were responsible for spotting potential market manipulation.
Bitcoin is a middling technology that, 15 years after its introduction to the world, still does not have a single legitimate use case in the developed world where it’s the best possible solution to a problem. It’s worse than our traditional stores of value (gold, US dollar) because of its inherent volatility (roughly 5x more volatile than the stock market).
It may surprise you to learn that during this cycle of falling inflation, there seems to be little correlation with rising Fed Rates. This is very counter-intuitive but it makes sense when you consider what an aberrational and unusual cycle this has been. Despite zero rates for a decade plus inflation was quite benign. it was only the combination of the global pandemic and lockdown, a massive fiscal stimulus, and a surge in demand for goods that have driven the 2020 to 2022 inflation.
It may surprise you to learn that during this cycle of falling inflation, there seems to be little correlation with rising Fed Rates. This is very counter-intuitive but it makes sense when you consider what an aberrational and unusual cycle this has been. Despite zero rates for a decade plus inflation was quite benign. it was only the combination of the global pandemic and lockdown, a massive fiscal stimulus, and a surge in demand for goods that have driven the 2020 to 2022 inflation.
Markets Global stocks and bonds lost more than $30 trillion for 2022. (ft.com) The 60/40 portfolio had a historically bad year. (finance.yahoo.com) Apple ($AAPL) lost $846 billion in market cap in 2022. (marketwatch.com) 2022 was a big year for ETFs, except for a spot Bitcoin ETF. (theetfeducator.com) IPO proceeds fell off the table in 2022. (cnbc.com) Strategy Average annual stock market returns are not-so average.
Welcome back to the 317th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Jennifer Climo. Jennifer is the CEO and a Senior Advisor for Milestone Financial Planning, an independent RIA based in Bedford, New Hampshire, that oversees $360 million in assets under management for 225 client households. What's unique about Jennifer, though, is how, after more than a decade of building her own successful solo practice, she intentionally decided to merge her practice wit
Earlier, in the CalculatedRisk Real Estate Newsletter on December existing home sales, NAR: Existing-Home Sales Decreased to 4.02 million SAAR in December , I mentioned that the median price was down more than normal seasonally. Below is a table of the seasonal pattern over the last several years. Seasonally prices typically peak in June (closed sales for contracts signed mostly in April and May).
As portfolio performance becomes the top concern among clients, one in four have either thought about switching, or switched, financial advisors in the last three years, a YCharts survey found.
Speaker: Dylan Secrest, Founder of Alamo Innovation and Construction Digital Transformation Consultant
Construction payment workflows are notoriously complex when you consider juggling multiple stakeholders, compliance requirements, and evolving project scopes. Delays in approvals or misaligned data between budgets, lien waivers, and pay applications can grind progress to a halt. The good news? It doesn't have to be this way! Join expert Dylan Secrest to discover how leading contractors are turning payment chaos into clarity using digital workflows, integrated systems, and automation strategies.
Hung with my friends Haley Sacks (Mrs. Dow Jones), Pat McAuliffe (Barstool Sports) and Gabe Walker (PRE.VEYOR) at the Knicks game this week. That’s after doing Closing Bell from the NYSE and then a quick slice at Joe’s Pizza (“Famous Since 1975). A very New York night, really reminded me of what I love so much about this town, despite its flaws and annoyances.
Merry Christmas, Happy New Year, and all the rest of the seasonal glad tidings for you and yours in 2023. Before we roll up our sleeves and start to engage in the serious business of managing risk in the capital markets, I wanted to share a story that is more in keeping with the spirits of the season. I ran track in high school. My father’s advice when I joined the team was: Find the fastest guy on the team and keep up with him.
Top clicks this week What investment beliefs do you hold that a majority of investment pros would disagree with? (mebfaber.com) Is this a new bull market? Hold on. (theirrelevantinvestor.com) The stock market typically bottoms before earnings. (tker.co) Nick Maggiulli, "Being rich is a feeling." (ofdollarsanddata.com) Time and patience play a big role in wealth building.
An important truism about marketing is that to be effective, the marketer’s message needs to connect with the audience it intends to reach. Traditional forms of marketing used by financial advisors – including networking with one’s friends and family members, cold-calling, and paid advertising – have been effective at reaching a ‘typical’ client base of older, wealthy retirees.
In the climb from contributor to leader, the rules quietly change. If you’re aiming for the summit, the air gets thinner—and what got you here won’t be enough to get you to the top (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level.
Here is another monthly update on framing lumber prices. This graph shows CME random length framing futures through January 3rd. Lumber was at $374 per 1000 board feet this morning. This is down from the peak of $1,733, and down 67% from $1,148 a year ago. Prices are slightly below the pre-pandemic levels of around $400. Click on graph for larger image.
I had a bit of a flashback last night to the year 2000, sitting in my office after hours watching JDS Uniphase collapse on the heels of its conference call after reporting “better than expected” earnings for the quarter. Throughout 2000, techs and telecoms were still making a ton of profit, but it was becoming apparent that they were still coasting on the spend from 1999.
Welcome to 2023! Let’s jump into the new year with some fresh observations, some of which are quite surprising: • Astronomical Measures of Time Are Unrelated to Investing : 2023 – a new year! It is natural to hope the flipping of the calendar brings something new and different. But why? It takes the Earth 365 days, 6 hours, 9 minutes, and 9.76 seconds to complete one orbit – to return to its exact same place in space relative to our star, the sun.
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
The biz The podcasting business has gone from gold rush to mature in a couple of years. (niemanlab.org) Spotify ($SPOT) has yet to make the most of its podcast acquisitions. (theverge.com) Twenty lessons Ryan Holiday learned making his podcast including ' (ryanholiday.net) AI Derek Thompson talks with Ben Thompson, of Stratechery, about the wide-ranging impact of AI.
Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that CFP Board announced this week that it is splitting into two separate organizations with the same leadership but different nonprofit statuses. By switching to 501(c)(6) nonprofit status, the new CFP Board of Standards will have expanded abilities to advance the planning profession through lobbying and more targeted advertising messages to grow the ranks of
From the BLS : Total nonfarm payroll employment increased by 223,000 in December, and the unemployment rate edged down to 3.5 percent , the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in leisure and hospitality, health care, construction, and social assistance. The change in total nonfarm payroll employment for October was revised down by 21,000, from +284,000 to +263,000, and the change for November was revised down by 7,000, from +263,000 to +256,000.
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
FUTURE PROOF FESTIVAL 2023 TICKET REGISTRATION IS NOW OPEN Join us September 10th-13th in Huntington Beach, CA! It’ll be the lowest rate you’ll ever pay to attend. Prices jump in 2 weeks. Use the link down below to register now. See you there[link] pic.twitter.com/BTO0RNivhJ — The Compound (@TheCompoundNews) January 18, 2023 Last September we threw the biggest wealth management festival (and proba.
I wanted to drop a quick note about the endless spate of layoff announcements — and why you should (mostly) ignore them. Let’s start with some numbers: Microsoft 22,000 (10%) Amazon 18,000 (1%) Google 12,000 (6.4%) Salesforce 7,000 (10%) Tesla 10,000 (10%) Twitter 3,700 (50%) Apple 0 (0%) Keep in mind a few things as you con
Markets How worried should investors be about the debt ceiling drama? (theirrelevantinvestor.com) Is the VIX broken? No, but the options market is changing. (ft.com) Strategy What can you assume about stock, bond and cash returns over the long run. (awealthofcommonsense.com) Rubin Miller, "The stock market is brashly indifferent to our opinions." (fortunesandfrictions.com) Why you need a well-articulated investment strategy to ride out tough times.
Welcome back to the 318th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Ali Swart. Ali is a Partner and the Managing Director for Waldron Private Wealth, a multi-family office based in Bridgeville, Pennsylvania that oversees nearly $3 billion in assets under management for 280 ultra-high-net-worth family households.
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.
The Cleveland Fed released the median CPI and the trimmed-mean CPI: According to the Federal Reserve Bank of Cleveland, the median Consumer Price Index rose 0.4% in December. The 16% trimmed-mean Consumer Price Index increased 0.4% in December. "The median CPI and 16% trimmed-mean CPI are measures of core inflation calculated by the Federal Reserve Bank of Cleveland based on data released in the Bureau of Labor Statistics’ (BLS) monthly CPI report".
If you’re a financial advisor or a fund manager and you weren’t down 20% last year, you won, basically. The S&P fell into a 20% bear market while the Nasdaq crashed almost 40%. Bonds were down double digits as an asset class. International stocks, while outperforming the US and not down as much, were still down a lot. Except for Turkey, which inexplicably doubled last year – here’s the TUR ETF, The post Think you have it bad?
Last year, we hosted the first Future Proof conference , and it was. The reviews were fabulous: Morningstar , L.A. Times , Investment News , Financial Planning , RIA Biz , Think Advisor , Business Insider ; Afterward, I told you the traditional financial conference was kaput. Attendees from all over the country (and the world!) came to discuss the most important issues surrounding advising clients.
You wouldn’t keep using a 2009 flip phone - so why settle for outdated close processes? It’s time for an upgrade. SkyStem's Guide to Month-End Close Software walks you through what today’s best tools can do (and what your team shouldn’t have to deal with anymore). Get smart, fast, and a whole lot less stressed when it’s time to close the books.
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