The Big Picture
JULY 17, 2023
Money makes the world go round. Global capital markets (stocks, bonds, private investments, real estate) are worth over $100 trillion. If you want to become wealthy, go where the money is. If you are smart, and understand how to play this, your odds of amassing a small fortune go up dramatically. Buy a lot of people go about it the wrong way; some never achieve their goals, others get there late in life.
Wealth Management
JULY 21, 2023
Don’t assume wealthy clients have done their planning.
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Nerd's Eye View
JULY 21, 2023
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that Charles Schwab's latest annual RIA Benchmarking Study shows that while average firm assets under management fell in 2022, due largely to weak market performance, organic growth remained strong, mitigating a portion of the market effects on client portfolios.
The Reformed Broker
JULY 21, 2023
Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Sam Ro, Jack Raines, and Downtown Josh Brown discuss AI and the market, the meme economy, Nvidia’s rollercoaster year, the earnings recession, financial charlatans, Berkshire’s massive bet on Apple, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!
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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
The Big Picture
JULY 21, 2023
@TBPInvictus here; Let’s cut to the chase : A popular video on YouTube claims the poor are much less poor than the official statistics suggest because those statistics ignore government welfare programs like Food Stamps and Aid to Dependant Children and lots of other safety net programs. If this were true, it would mean we have been measuring income inequality incorrectly (perhaps wealth inequality as well).
Wealth Management
JULY 21, 2023
Success is measured by the ability to generate, evaluate, nurture and close leads. And for the most part, that means digital leads.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Calculated Risk
JULY 20, 2023
From STR: U.S. hotel results for week ending 15 July U.S. hotel performance increased from the previous week and showed improved comparisons year over year, according to CoStar’s latest data through 15 July. 9-15 July 2023 (percentage change from comparable week in 2022): • Occupancy: 72.0% (+0.1%) • Average daily rate (ADR): US$159.98 (+1.5%) • Revenue per available room (RevPAR): US$115.18 (+1.6%) emphasis added The following graph shows the seasonal pattern for the hotel occupancy rate using
Abnormal Returns
JULY 19, 2023
Podcasts Peter Lazaroff talks with Jill Schlesinger about her latest book "The Great Money Reset." (peterlazaroff.com) Tim Ranzetta talks with Jonathan Clements, editor of the new book "My Money Journey, How 30 People Found Financial Freedom And You Can Too." (ngpf.org) Retirement FAT Fire. How to retire at any age with confidence. (ofdollarsanddata.com) Take retirement surveys with a big grain of salt.
Wealth Management
JULY 21, 2023
The founder of Chaikin Analytics gives his biggest takeaways from navigating through 10 bear markets.
Nerd's Eye View
JULY 17, 2023
In the early days when financial advisors were first and foremost salespeople for insurance and investments products, the reality is that "advisor training and education" wasn't really about finance or advice… it was mostly just about learning how the company's products worked and how to effectively sell them to consumers. But as technology (in particular, the internet!
Speaker: Claire Grosjean, Global Finance & Operations Executive
Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.
Calculated Risk
JULY 20, 2023
Today, in the CalculatedRisk Real Estate Newsletter: NAR: Existing-Home Sales Decreased to 4.16 million SAAR in June; Median Prices Declined 0.9% YoY in June Excerpt: On prices, the NAR reported : The median existing-home price for all housing types in June was $410,200, the second-highest price of all time and down 0.9% from the record-high of $413,800 in June 2022.
Abnormal Returns
JULY 17, 2023
Podcasts Michael Kitces talks with Thor McIlrath of McIlrath & Eck about rotating client coverage. (kitces.com) Laurence Kotklikoff talks with Wade Pfau about the problem with Monte Carlo analysis. (larrykotlikoff.substack.com) Daniel Crosby talks with Nicole Casperson about what it take to build an authentic brand. (standarddeviationspod.com) Charles Schwab Charles Schwab ($SCHW) clients with $1 million in assets now are automatically enrolled in one of its private wealth management program
Wealth Management
JULY 21, 2023
Used correctly, private market investments can be valuable tools for building efficient long-term portfolios and accessing differentiated opportunities.
Nerd's Eye View
JULY 18, 2023
Welcome back to the 342nd episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Nancy Hetrick. Nancy is the Founder and CEO of Smarter Divorce Solutions, a consulting firm based in Phoenix, Arizona that provides financial expertise to individuals and couples (and sometimes, mediators and attorneys) going through the divorce process.
Speaker: David Worrell, CFO, Author & Speaker
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.
Calculated Risk
JULY 17, 2023
Altos reports that active single-family inventory was up 1.2% week-over-week. Click on graph for larger image. This inventory graph is courtesy of Altos Research. As of July 14th, inventory was at 470 thousand (7-day average), compared to 465 thousand the prior week. Year-to-date, inventory is down 4.1%. And inventory is up 16.0% from the seasonal bottom 13 weeks ago.
Abnormal Returns
JULY 16, 2023
Markets The stock market has exceeded where Wall Street strategists thought it would end. (tker.co) Earnings seem to have returned to their normal pattern. (ritholtz.com) "The price of gold has barely budged for two years." (economist.com) Strategy Bear markets are transitory. (awealthofcommonsense.com) Why you are unlikely to outsmart the stock market.
Wealth Management
JULY 20, 2023
How and why the company is trying to bring opportunities for investment in real estate credit to high-net-worth investors.
The Big Picture
JULY 20, 2023
“A new product that offers investors complete downside protection: Investors in the $7.5 trillion ETF universe can now put money behind the Innovator Equity Defined Protection ETF, which began trading under the ticker TJUL on Tuesday. The offering comes from Innovator Capital Management, which launched the first so-called buffer ETFs, also sometimes referred to as defined-outcome funds, in 2018.” – Bloomberg Let’s get this out of the way: I dislike any product that exchanges a port
Speaker: Erroll Amacker
Automation is transforming finance but without strong financial oversight it can introduce more risk than reward. From missed discrepancies to strained vendor relationships, accounts payable automation needs a human touch to deliver lasting value. This session is your playbook to get automation right. We’ll explore how to balance speed with control, boost decision-making through human-machine collaboration, and unlock ROI with fewer errors, stronger fraud prevention, and smoother operations.
Calculated Risk
JULY 20, 2023
From the NAR: Existing-Home Sales Retreated 3.3% in June; Monthly Median Sales Price Reached Second-Highest Amount Ever Existing-home sales slipped in June, according to the National Association of REALTORS®. Sales varied among the four major U.S. regions, with the Northeast experiencing gains, the Midwest holding steady, and the South and West posting decreases.
Abnormal Returns
JULY 17, 2023
Markets The word of the year is 'multiple expansion.' (axios.com) The stock market is betting on a soft landing. (wsj.com) This S&P 500 stock has no analyst coverage. (bloomberg.com) Strategy How to get rich in the markets, ranked from hard to easy. (ritholtz.com) Four insights from the new edition of William Bernstein's "The Four Pillars of Investing.
Wealth Management
JULY 20, 2023
Evolving global tax and disclosure regimes to consider.
The Reformed Broker
JULY 20, 2023
Ritholtz’s Josh Brown responds to the parabolic reversal of DHI post-earnings from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.
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Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
Calculated Risk
JULY 19, 2023
Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE) investment. From the AIA: AIA/Deltek Architecture Billings Index Stable in June Architecture firms reported flat billings in June, according to the latest Architecture Billings Index (ABI) from the American Institute of Architects (AIA) and Deltek. The ABI score of 50.1 for the month indicates that billings at architecture firms remained steady as design activity continues to slowly recover from roiled economi
Abnormal Returns
JULY 21, 2023
Markets The 2023 stock market has been a mirror image of 2022. (theirrelevantinvestor.com) Individual stock correlations have been falling for awhile. (allstarcharts.com) Strategy Why market timing is so seductive. (awealthofcommonsense.com) Why stock pickers can't ignore return factors. (albertbridgecapital.com) Collectibles A review of "The Worth of Art: Financial Tools for the Art Market" by Arturo Cifuentes and Ventura Charlin.
Wealth Management
JULY 20, 2023
Savant Wealth Management is acquiring Raymond F. Book & Associates, along with its affiliated RIA, a Dover-based firm with about $376 million in AUM.
The Big Picture
JULY 19, 2023
My mid-week morning train WFH reads: • Is Rolex a Non-Profit? Answers to Your Burning Questions About the Rolex Watch Company. ( Teddy ) • Jerome Powell’s Prized Labor Market Is Back. Can He Keep It? The Federal Reserve chair spent the early pandemic bemoaning the loss of a strong job market. It roared back — and now its fate is in his hands. ( New York Times ) see also Powell Will Find Much to Love in Retail Sales Letdown : The latest report landed with a mixed reception.
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Like being inches from the end zone, many advisors are frustratingly close to their next level of success. You work hard. You put in the hours. But if your closing rate is stuck or your pipeline feels like a revolving door… something has to change. Most advisors are just one small shift away from dramatically increasing their revenue. The difference?
Calculated Risk
JULY 18, 2023
The National Association of Home Builders (NAHB) reported the housing market index (HMI) was at 56, up from 55 last month. Any number above 50 indicates that more builders view sales conditions as good than poor. From the NAHB: Builder Confidence Edges Higher Despite Rising Rate Concerns Low existing inventory that is keeping demand solid for new homes helped to push builder confidence up in July even as the industry continues to grapple with rising mortgage rates, elevated construction costs an
Abnormal Returns
JULY 19, 2023
Markets A look at all the signs of risk-on behavior. (wsj.com) Some clues that showed the way to a better 2023 for the stock market. (carsongroup.com) Microsoft's ($MSFT) stock is at an all-time high. (cnbc.com) The VIX is at it lowest post-Covid level. (axios.com) Cash Cash often looks best, when it is the worst investment. (thisisthetop.substack.com) Reinvestment risk is real.
Wealth Management
JULY 20, 2023
Equitable Advisors plans to get there by growing its share of wealth advisors, emphasizing holistic life planning and doubling down on its “supported independence” model.
The Big Picture
JULY 19, 2023
On today’s show I join Downtown Josh Brown to discuss my recent piece “ A Dozen Contrarian Thoughts About Inflation.” Source: YouTube Previously : A Dozen Contrarian Thoughts About Inflation (July 13, 2023) The post 12 Things Everyone Got Wrong About Inflation appeared first on The Big Picture.
Speaker: Aaron Berson
Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g
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