Sat.Mar 11, 2023 - Fri.Mar 17, 2023

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Cyber Threats To Client Wealth And Well-Being: Why And How Wealth Managers Will Soon Play A Key Role In Managing These Risks

Nerd's Eye View

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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Top.

The Reformed Broker

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
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Déjà Vu? 2023 is Not 2008

The Big Picture

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 338
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Top clicks this week on Abnormal Returns

Abnormal Returns

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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Live Demo: How to Achieve Reconciliation Zen

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

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

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The Future Of Advisor Platforms: Reducing Overhead Costs With Services (Not Technology)

Nerd's Eye View

For the past several decades, platforms for advisors have differentiated with the quality of their technology. The focus on ‘tech’ was a natural evolution for advisor platforms away from their roots – which was originally to differentiate by the quality of their proprietary product shelf, the primary means that brokerage firms and insurance companies attracted advisors to them in the 1960s, 70s, and 80s.

More Trending

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10 Wednesday AM Reads

The Big Picture

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 289
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Sunday links: a keen awareness

Abnormal Returns

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.

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Realtor.com Reports Weekly Active Inventory Up 61% YoY; New Listings Down 16% YoY

Calculated Risk

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.

Sales 143
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Whose Fault is it Anyway

The Irrelevant Investor

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 139
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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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10 Tuesday AM Reads

The Big Picture

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 253
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Personal finance links: taking actual risks

Abnormal Returns

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.

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More Money Doesn’t Make You Better at Managing Your Finances

A Wealth of Common Sense

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.

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Accessing Body Intelligence to Make Wiser Money Decisions with Gayle Colman

Steve Sanduski

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

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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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10 Sunday Reads

The Big Picture

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

Media 242
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Friday links: loaded language

Abnormal Returns

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.

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T3: Cybersecurity Adoption Still ‘Woefully Low’

Wealth Management

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

Investing 131
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Bank Runs, Now & Then

A Wealth of Common Sense

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.

Banking 121
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Navigating Financial Storms: Strategies for Building Resilient Balance Sheets

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.

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What Does the Market Think?

The Irrelevant Investor

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.

Marketing 114
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Wednesday links: a call for help

Abnormal Returns

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.

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Growth in Electric Vehicle Production Expands Opportunities for Industrial Developers

Wealth Management

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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How to Treat Yourself Without Blowing Your Financial Goals

Your Richest Life

As Donna Meagle and Tom Haverford said in Parks and Rec, “Treat yo’ self!” Treating yourself means spending time and money on the things that bring you joy. Whether you love jewelry, travel, books or sports, treating yourself can be a very positive, and smart, way to spend your money. On the flip side, it can also get out of hand if you’re not careful.

Budgeting 111
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Putting the ‘Tech’ in Spend Management Techniques

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!

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The Compound and Friends: Bearishly Bullish

The Irrelevant Investor

Today’s show is sponsored by Kraneshares: See here for more information on investing in Kraneshares Climate or China-focused ETFs On today’s show, we discuss: First Republic reaches rescue deal with other banks Goldman boosts US recession odds after slashing GDP forecast TRB on Credit Suisse Credit Suisse is in crisis, what went wrong? Barney Frank talks more about the surprise shuttering of Signature Bank.

Banking 108
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Tuesday links: acute inefficiencies

Abnormal Returns

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.

Startup 183
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SEC Reopens Comment Period For Proposed Cybersecurity Rule

Wealth Management

The Investment Adviser Association, the trade group for RIAs, said it appreciated the additional time and was worried about the “interrelatedness of the SEC's current proposals." The commission also proposed updates to cybersecurity rules for brokers.

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Michigan Consumer Sentiment Drops for First Time in Four Months

Advisor Perspectives

The March preliminary report for the Michigan Consumer Sentiment Index came in at 63.4, down 3.6 (-5.4%) from the February final. This morning's reading was the first monthly decline in the last four months and came in below the Investing.com forecast of 66.9. Since its beginning in 1978, consumer sentiment is 25.7% below its average reading (arithmetic mean) and 24.7% below its geometric mean.

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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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COVID Mar 17, 2023: Update on Cases, Hospitalizations and Deaths

Calculated Risk

Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. On COVID (focus on hospitalizations and deaths). Data is now weekly. The winter surge was much smaller in 2023 than for the previous two years, and hopefully cases, hospitalizations and deaths will set new pandemic lows soon. COVID Metrics Now Week Ago Goal New Cases per Week 2 149,955 186,793 ≤35,000 1 Hospitalized 2 17,348 19,629 ≤3,000 1 Deaths per Week 2 1,706 2,100 ≤350 1 1 my goals to stop weekly posts, 2 W

Numbers 102
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: Bed Bath & Beyond stock sinks after retailer calls shareholder meeting to approve reverse stock split

MarketWatch

Struggling home-goods retailer Bed Bath & Beyond Inc. BBBY on Friday said it planned to hold a special meeting in which shareholders would vote on whether to allow the company to carry out a reverse stock split, should its board decide to do so. Shares tumbled 19% after hours. Shareholder approval would amend Bed Bath & Beyond’s certificate of incorporation to carry out “a reverse stock split of the Company’s common stock, par value $0.01 per share, at a ratio in the range of 1-for-5 to 1-for-10

Retail 98
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Seven Must Reads for CRE Investors Today (March 17, 2023)

Wealth Management

Fallout from the collapses of Silicon Valley Bank and Signature Bank continued to impact banks, REIT stocks and commercial landlords. Five Below plans to open 200 new stores, reported Chain Store Age. These are among today’s must reads from around the commercial real estate industry.

Banking 109