Nerd's Eye View

MARCH 15, 2023

Risk management is a key part of many financial advisors’ value propositions. For instance, ensuring clients maintain the proper insurance coverage based on their needs is an important part of the financial planning process. At the same time, clients face another class of risks that advisors often do not consider: cyber. In this article, guest authors Mark Hurley, Carmin Cicalese, Bryce Washum, and Douglas Garbutt discuss how financial advisory clients face a range of cyber risks, includin

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Clients Wealth Management Management Insurance Coverage 201

The Reformed Broker

MARCH 12, 2023

I feel pretty confident in making this call, and I don’t make market calls very often: We have seen the top for 2-year Treasury yields. It’s not going any higher than it’s been because there’s no reason for it to. Financial conditions are now contracting hard due in part to the events of this week but also because monetary policy operates on a lag – and the first Fed Funds hike of the cycle.

Marketing 361

Marketing Marketing 361

The Big Picture

MARCH 16, 2023

Depositors heaved a sigh of relief when news broke Sunday that the Federal Deposit Insurance Corporation was going to make whole all of the accounts held at Silicon Valley Bank. Having full access to bank accounts meant those tech start-ups that make up much of SVB’s depositors would be able to make their weekly payrolls. They were the lucky ones: SVB’s equity investors were wiped out and senior bank management was fired.

Banking 339

Banking Marketing Marketing Insurance 339

Abnormal Returns

MARCH 12, 2023

Top clicks this week Your house is a terrible investment. (jlcollinsnh.com) It's no wonder U.S. investors have shunned international stocks. (freedomdaysolutions.com) What expanding your time horizon gets you. (behaviouralinvestment.com) How much do Americans have saved for retirement? (awealthofcommonsense.com) Morgan Housel on on the art of spending money.

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Retirement Investing Investments Accounting 278

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Business operations are getting increasingly complex, shareholders are demanding more, and your auditors are breathing down your neck like never before. In this high-pressure environment, it’s important to remember that reconciliation activity is your last line of defense against financial fraud and errors. Insisting on a manual process to handle month-end reconciliations is a risky endeavor that places an undue burden on your accounting team.

Accounting

Nerd's Eye View

MARCH 17, 2023

Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that just weeks after introducing its own self-clearing platform, RIA custodian Altruist announced this week that it is acquiring fellow custodial platform Shareholder Services Group (SSG), a move that will make the combined RIA custodial platform the third-largest in terms of RIAs served.

Financial Planner 206

Financial Planner Banking Portfolio Management Portfolio 206

The Big Picture

MARCH 15, 2023

Programming note: Morning Reads will be in Dallas Thursday and Friday — we will be back on the weekend… My mid-week morning train reads: • Dissecting Goldman’s gory $2.25bn SVB equity issue Well that escalated quickly. ( Financial Times ) • Whose Fault is it Anyway : It has been 872 days since a bank failed in the United States. This was the longest streak on record.

Banking 274

Banking Food Investing Investments 274

Abnormal Returns

MARCH 17, 2023

Finance Why First Republic Bank ($FRC) isn't bouncing. (thebasispoint.com) WeWork ($WE) has reached a deal with Softbank to restructure its debt. (nytimes.com) Fidelity Crypto is now live. (theblock.co) SVB SVB didn't go bust because it was woke. (theverge.com) But poorly managed remote work maybe did. (axios.com) How the downfall of SVB could affect climate and biotech startups.

Financial Advising 246

Financial Advising Banking Portfolio Startup 246

Calculated Risk

MARCH 16, 2023

From the Census Bureau: Permits, Starts and Completions Housing Starts: Privately‐owned housing starts in February were at a seasonally adjusted annual rate of 1,450,000. This is 9.8 percent above the revised January estimate of 1,321,000, but is 18.4 percent below the February 2022 rate of 1,777,000. Single‐family housing starts in February were at a rate of 830,000; this is 1.1 percent above the revised January figure of 821,000.

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The Reformed Broker

MARCH 15, 2023

Apparently it’s news to the whole world this morning that Credit Suisse is some sort of undead Swiss zombie bank worth more dissected and sold off in chunks than alive. Who knew? Oh wait – everyone knew, for a long time now. Open secret. Single digit stock price. Come on. I meet financial advisors at industry events and cocktail parties – I wince when they say they work at Credit Suisse.

Financial Advisor 272

Financial Advisor Banking Marketing Marketing 272

Speaker: Carolina Aponte - Owner and CEO, Caja Holdings LLC

In today's rapidly changing business environment, building a resilient balance sheet is crucial to the survival of any business. A resilient balance sheet allows a company to withstand financial shocks and adapt to changing market conditions. To achieve this, companies need to focus on key strategies such as maintaining adequate liquidity, managing debt levels, diversifying revenue streams, and prioritizing profitability over growth.

Financial Planning

The Big Picture

MARCH 14, 2023

My Two-for-Tuesday morning train reads: • Bank Runs, Now & Then : The Panic of 1907 would probably be more famous if it wasn’t overshadowed by the Great Depression just a couple of decades later. It lasted 15 months and saw GDP decline an estimated 30% (even more than the Great Depression). Commodity prices crashed. Bankruptcies exploded. The stock market fell 50%.

Banking 215

Banking Assets Investing Investments 215

Abnormal Returns

MARCH 15, 2023

Podcasts Morgan Housel talks about the impact of our lifestyle decisions. (open.spotify.com) Christine Benz and Jeff Ptak talk with Robert Powell about generating income in retirement. (morningstar.com) Banking Eight questions about the banking panic of 2023 including 'Is my money safe?' (awealthofcommonsense.com) Too many people are missing out on higher cash yields.

Financial Advisor 246

Financial Advisor Retirement Retirement Planning Financial Services 246

Calculated Risk

MARCH 16, 2023

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 Mar 11, 2023 • Active inventory growth continued to climb with for-sale homes up 61% above one year ago. Inventories of for-sale homes rose, tying last week’s gain, which was the lowest we’ve seen since December.

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Sales Marketing Marketing Numbers 143

The Irrelevant Investor

MARCH 14, 2023

It has been 872 days since a bank failed in the United States. This was the longest streak on record. We’re now at day zero. Silicon Valley bank went down on Friday. Signature Bank last night. These are the second and third largest bank failures in history behind Washington Mutual during the GFC. People are scared, mad, and looking for someone to blame.

Banking 140

Banking 140

Speaker: Wayne Spivak, President and CFO of SBA * Consulting Ltd., Industry Writer, Public Speaker

If you’re lost in the world of spend management needs and your GAP analysis is lacking perspective on the future state of your business performance, listen up! With the advancement of technology, the implementation of spend management best practices and concrete GAP analyses is more streamlined and accessible than ever before. And while this may sound like great news for you and your clients, it won’t be worthwhile unless you have the latest techniques to back up your ambitions!

Management

The Big Picture

MARCH 12, 2023

Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures: • In the Hunt for Fraud, the Red Flags Start With the Auditor : With its Adani report, Hindenburg zeroed in on the tiny firm’s thin staff and client roster. ( Institutional Investor ) • Norfolk Southern’s accident rate spiked over the last decade : An analysis of federal railroad data shows accidents rising as investigators probe the company’s “safety culture.” ( Politico ) • Why Pov

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Assets Investing Investments Government 202

Abnormal Returns

MARCH 15, 2023

Markets The demise of SIVB upended all manner of market trends. (wsj.com) The bond market reversal caught a lot of managed futures funds offsides. (rcmalternatives.com) Why Treasury bonds are not risk-free. (rationalwalk.com) Media Disney ($DIS) has some big strategic decisions to make. (on.ft.com) Free streaming numbers are moving up and to the right.

Financial Advising 245

Financial Advising Banking Economy Risk Management 245

A Wealth of Common Sense

MARCH 17, 2023

There were a lot of surprising details that came to light from the Silicon Valley Bank fiasco. It was surprising how quickly a bank run took hold for such a large institution. It was surprising how quickly the bank’s customers fled one of their most trusted partners. It was surprising how seemingly little oversight this now systemically important bank had.

Banking 137

Banking Management 137

Wealth Management

MARCH 14, 2023

However, advisory firms who did invest in cybersecurity tools reported higher levels of satisfaction with them than in any other software category.

Investing 132

Investing Investments 132

Speaker: Lynnette Khalfani-Cox, The Money Coach®

Niche markets represent a huge opportunity for the financial services industry in America. From college students and women to communities of color and low-to-moderate-income households, niche populations have specialized financial needs – but they often underutilize many valuable financial products and services. How can you better connect with these consumers?

Clients

The Big Picture

MARCH 15, 2023

I spent some time with my buddy Pete Dominick on Monday talking about all of the things we don’t know about SVB. As always, its a fun conversation — I pop in at the 19 minute mark. The post Discussing Bank Contagion with Pete Dominick appeared first on The Big Picture.

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Banking 173

Abnormal Returns

MARCH 12, 2023

Markets It's hard to see interest rates going higher at this point. (abnormalreturns.com) When the financial system is under stress, the trading environment is very different. (traderfeed.blogspot.com) Stress The Fed finally broke something. (theirrelevantinvestor.com) Bank runs happen because of people. (awealthofcommonsense.com) Why finding a buyer for SVB this weekend is so important.

Financial Advising 246

Financial Advising Banking Economy Assets 246

A Wealth of Common Sense

MARCH 12, 2023

Silicon Valley Bank, the 16th biggest bank in the country, was closed on Friday. It was the second-biggest bank failure in U.S. history. As recently as November 2021, the market cap of the company was more than $44 billion. That equity is now essentially worthless. There is a lot to this story but it really boils down to an old-fashioned bank run. A flood of withdrawals from depositors destroyed the bank.

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Banking Marketing Marketing 135

Steve Sanduski

MARCH 14, 2023

Guest: Gayle Colman , Certified Financial Planner®, Master Integral Coach®, and author of the new book The Body of Money. In a Nutshell: Financial decisions are often framed as a tug of war between the head and the heart. But by paying attention to how the whole body expresses feelings around money, advisors can guide clients past their fears and towards a fulfilling sense of sufficiency and inner knowing. – Gayle Colman and I discuss: Gayle’s early history with the life planning mov

Certified Financial Planner 119

Certified Financial Planner Financial Planner Clients Planning 119

Speaker: Raul Perez, VP and CFO of Lancaster Leaf

Lancaster Leaf Tobacco Co Inc. is a subsidiary of Universal Corporation, the leading global leaf tobacco supplier. Lancaster Leaf supplies virtually all the major cigar manufacturers in the U.S. with filler, binder, and wrapper, and exports filler, binder, and wrapper to international cigar manufacturers. This all could mean a complicated month-end close - before automation.

Manufacturing

Wealth Management

MARCH 16, 2023

With EV manufacturers and their suppliers increasingly opening factories in the U.S., opportunities are growing for both build-to-suit construction and speculative development.

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Manufacturing 117

Abnormal Returns

MARCH 14, 2023

Strategy What investing lessons can we cull from the downfall of SVB? (portfoliocharts.com) Safe assets aren't safe if there is a duration mismatch. (fortunesandfrictions.com) Even great companies will 'decline eventually.' (neckar.substack.com) Silicon Valley Bank There is plenty of blame to go around for the downfall of SVB including the pandemic.

Financial Advising 244

Financial Advising Financial Guidance Banking Startup 244

A Wealth of Common Sense

MARCH 14, 2023

On last week’s Animal Spirits we asked why the Fed’s aggressive rate cuts had yet to break anything in the economy: Sure, the housing market is basically broken, but everything else has held up relatively well…until last week that is. We recorded our show on Tuesday. By the weekend we would see the 2nd and 3rd largest bank failures in U.S. history, including the biggest bank run we’ve ever seen.

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Banking Economy Marketing Marketing 116

The Irrelevant Investor

MARCH 15, 2023

What does the failure of Silicon Valley Bank mean? Are we going into a recession? Is the fed done raising rates? Is the stock market going to crash? Everyone has an opinion that is reflected in the market. So let’s see what the market is saying. People are rightfully worried about how the fall of SVB might impact other regional banks. There is full-on panic in those names.

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Marketing Marketing Banking 115

Speaker: Rita Keller - President of Keller Advisors, LLC

You've worked diligently and have built a glowing reputation grounded in your excellent skills in tax, accounting, and auditing. You're known as the “go-to” person when a client is faced with tax and financial decisions. You have a very successful firm -- but that’s not enough. Profession leaders are urging you to diversify your financial skills and distance yourself from compliance work.

Consulting