Sat.Feb 18, 2023 - Fri.Feb 24, 2023

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10 Ways To Destroy Your Investment Portfolio

Investing Caffeine

Upcoming Webinar – February 22nd at 12:00pm PST Volatility has spiked due to changing concerns over inflation, interest rates, recession fears, geopolitics, and other fear-provoking issues, but how can you grow and protect your retirement nest egg? Wade W. Slome, CFA®, CFP®, Founder of Sidoxia Capital Management, LLC, will share 10 crucial mistakes made by investors that can destroy your portfolio.

Portfolio 111
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MBA: Mortgage Purchase Applications Decreased Sharply, Lowest Since 1995

Calculated Risk

From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 13.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 17, 2023. The Market Composite Index, a measure of mortgage loan application volume, decreased 13.3 percent on a seasonally adjusted basis from one week earlier.

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Linking Long Term Care and Life Insurance Explained

Wealth Management

Demand for long term care is growing and advisors can differentiate themselves and deepen client relationships through modern approaches to long term care planning.

Insurance 320
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Avoiding Financial Disasters

The Big Picture

Click to download Financial Disasters Yesterday was kind of a fun day: Sure, it was a dark, damp, dreary February morn when I showed up at the Brooklyn Bridge Marriot, but it was also the first time I did a new presentation in front of a live audience since before the pandemic. I do a quarterly update for RWM clients that covers the economy, the markets, and our portfolios every three months.

Clients 307
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How to Streamline Payment Applications & Lien Waivers Through Innovative Construction Technology

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.

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Weekend Reading For Financial Planners (Feb 25-26)

Nerd's Eye View

Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that the SEC’s proposed “Safeguarding Rule” would significantly increase the number of investment advisers deemed to have custody of client assets and increase paperwork requirements for advisers and qualified custodians, though the contours of a final regulation remain uncertain.

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Weekly Initial Unemployment Claims decrease to 192,000

Calculated Risk

The DOL reported : In the week ending February 18, the advance figure for seasonally adjusted initial claims was 192,000 , a decrease of 3,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 194,000 to 195,000. The 4-week moving average was 191,250, an increase of 1,500 from the previous week's revised average.

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Macro Snapshot / St. Louis Fed

The Big Picture

Very useful dashboard via the St. Louis Fed, which maintains the fabulous FRED database. With a clean and simple interface, it puts all of the key economic indicators the FOMC tracks — Real GDP Growth, Unemployment Rate, PCE Inflation, Core PCE Inflation, and the Federal Funds Rate — in one convenient location. The Macro Snapshot also dives deeper into three core aspects of the economy: 1.

Economics 301
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Abandoning Surge Meetings To Better Meet Client Needs And Promote Advisor Well-Being

Nerd's Eye View

One of the most important parts of a financial advisor’s value proposition is time spent meeting with their clients. These meetings allow advisors to listen to their clients’ concerns, make planning recommendations, and chart a course for the coming months. And while advisors recognize the importance of holding regular client meetings, there is no consensus about the ‘best’ cadence for them.

Clients 246
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Realtor.com Reports Weekly Active Inventory Up 67% YoY; New Listings Down 18% YoY

Calculated Risk

Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report released today from economist Jiayi Xu: Weekly Housing Trends View — Data Week Ending Feb 18, 2023 • Active inventory growth continued to climb with for-sale homes up 67% above one year ago. Inventories of for-sale homes rose again, on par with the yearly gains we saw last week.

Sales 354
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Orion Advisor Academy Debuts

Wealth Management

The new, on-demand learning platform is based on the work of Dr. Daniel Crosby, the wealthtech company’s chief behavioral officer.

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You upgrade everything else. Why not your close process?

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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10 Friday AM Reads

The Big Picture

My end-of-week morning train WFH reads: • The Fed alone cannot bring inflation down : Management of demand is not efficient in dealing with supply-driven price rises: fiscal policy must play its part.art ( Financial Times ) • When a savings account is very risky : Compound Banc pays an eye-popping 7% on deposits — or at least things that look and feel a lot like deposits.

Medical 283
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Thursday links: keeping things simple

Abnormal Returns

Markets Higher for longer, has put pressure on bond yields in February. (morningstar.com) It's easy to forget how bad 2022 was for retirement account investors. (cnbc.com) Strategy Not everyone is giving up on the crypto markets. (wsj.com) Why you are unlikely to profit off the next big thematic investment theme. (savantwealth.com) Housing Conor Sen, "Why would anyone want to pay off a $300,000 loan at 3% when they can invest essentially risk-free at 5% or more?

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Vehicle Sales Forecast: Vehicle Sales to be up Year-over-year in February

Calculated Risk

From WardsAuto: U.S. Light-Vehicle Sales, Inventory Continue Upward Climb in February (pay content). Brief excerpt: With inventory expected to record big gains by the end of the first quarter, consumers could be on the verge of seeing an easing up in pricing through a combination of greater availability of more affordable vehicles and increased incentives, especially when the industry gets into the spring selling season. emphasis added Click on graph for larger image.

Sales 352
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Pimco-Owned Office Landlord Defaults on $1.7 Billion Mortgage

Wealth Management

The buildings — in San Francisco, New York, Boston and Jersey City, New Jersey — are owned by Columbia Property Trust.

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Your Accounting Expertise Will Only Get You So Far: What Really Matters

Speaker: Victor C. Barnes, CPA, MBA

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.

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MiB: Tim Buckley, Vanguard’s CEO

The Big Picture

 This week, we speak with Tim Buckley , who is chairman and chief executive officer of Vanguard. Buckley has been with Vanguard for 32 years and has been CEO for the past 5. Previously, he was chief investment officer and chief information officer, overseeing the company’s internally managed stock, bond, and money market portfolios as well as its investment research and methodology.

Assets 284
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Kitces & Carl Ep 106: Sharing ‘Real’ Examples Of Your Work To Show The Value Of Financial Planning

Nerd's Eye View

The increasing popularity of financial planning has led to a growing awareness of how important managing finances and planning for the future can be. Despite its growing popularity, though, financial planning remains a relatively mysterious concept for many people who don’t understand how financial advisors actually provide value. For most financial advisors today, a website is a critical tool that allows them to market their services and communicate their fees to potential clients.

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New Home Sales at 670,000 Annual Rate in January

Calculated Risk

The Census Bureau reports New Home Sales in January were at a seasonally adjusted annual rate (SAAR) of 670 thousand. The previous three months were revised down, combined. Sales of new single‐family houses in January 2023 were at a seasonally adjusted annual rate of 670,000 , according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

Sales 351
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Coming Soon to Your State: A Millionaire’s Tax

Wealth Management

Massachusetts recently approved a new 4% tax on state residents with annual income over $1 million. Many states could follow.

Taxes 279
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How To Overcome Change Fatigue In Finance With Neuroscience-Backed Strategies

Speaker: Kim Beynon, CPA, CGMA, PMP

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.

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Transcript: Tim Buckley, Vanguard’s CEO

The Big Picture

 Transcript: Tim Buckley, Vanguard’s CEO The transcript from this week’s, MiB: Tim Buckley, Vanguard’s CEO , is below. You can stream and download our full conversation, including any podcast extras, on iTunes , Spotify , Stitcher , Google , YouTube , and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~ ANNOUNCER: This is Masters in Business with Barry Ritholtz on Bloomberg Radio.

Clients 274
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Form ADV Part 1: Common Missteps And Best Practices For RIAs

Nerd's Eye View

As a document required to be filed by all registered investment advisers, Form ADV is (at least in theory) a standardized description of each RIA’s services, fees, and business practices, presented in a series of four forms (Part 1, Part 2A, Part 2B, and Part 3) each comprised of a set of underlying sections. As the thinking goes, requiring each firm to file Form ADV with the SEC and/or state regulators (and making it available to the general public) gives investors a way to compare differ

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AIA: Architecture Billings "Continue to Contract" in January

Calculated Risk

Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE) investment. From the AIA: Architectural billings continue to contract in 2023 Fewer architecture firms report declining billings in January compared to billing activity in December, according to a new report today from The American Institute of Architects (AIA). AIA’s Architecture Billings Index (ABI) score for January was 49.3 * compared to 48.4 in December (any score below 50 indicates a decline in firm bill

Investing 340
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Fed’s Jefferson, Mester Say Inflation May Persist, Ease Slowly

Wealth Management

Federal Reserve officials said the inflation in the US is resulting from a complex set of unprecedented conditions, and that it may take time to decelerate.

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2025 Industry Index: How Top Advisors Are Scaling Smarter (and Faster) This Year

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

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Has Housing Bottomed?

Pragmatic Capitalism

There was a glimmer of hope in the housing data from January.

Economy 196
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The trouble with Google

The Reformed Broker

One of the biggest stories in the markets so far this year is the $100 billion in lost market cap ripped out of Alphabet’s stock when it became apparent that the search giant was going to be under siege by Microsoft’s push into AI. How did such a successful, innovative business like this suddenly find itself in this position? Maybe it wasn’t so sudden.

Marketing 190
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Black Knight: Mortgage Delinquencies Decreased in January

Calculated Risk

From Black Knight: Black Knight’s First Look at January 2023 Mortgage Data: Expanded and Enhanced Market Data Shows Mortgage Delinquency Improvement Across the Board in January, Uptick in Foreclosure Starts • J anuary performance data showed a slight decrease (-10 basis points) in the national delinquency rate month-over-month , which is now down 15.1% year over year • Foreclosure starts saw a fourth straight increase, but remain 37% below pre-pandemic levels ; active foreclosures are up 20% sin

Numbers 336
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America’s Wealth is On the Move

Wealth Management

The affluent are seeking out new investment opportunities domestically and abroad.

Investing 279
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Live Demo - Supercharge your Month End Close

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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Has Housing Bottomed?

Pragmatic Capitalism

There was a glimmer of hope in the housing data from January.

Economy 189
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Trade-Offs in The Economy, Markets & Life

A Wealth of Common Sense

Three thoughts on the trade-offs involved in the economy, markets and life: 1. There is no such thing as a perfect economy. This was the general environment for the 2010s: Low GDP growth Low inflation Stagnating wages A slow labor market High(ish) unemployment rate 0% interest rates A booming stock market This is the post-pandemic 2020s (so far): Higher GDP growth Higher wage growth Higher inflation A booming labor mar.

Economy 145
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Real Estate Newsletter Articles this Week: "Near Record Number of Housing Units Under Construction"

Calculated Risk

At the Calculated Risk Real Estate Newsletter this week: • 3rd Look at Local Housing Markets in January Lawler: Early Read on Existing Home Sales in January • January Housing Starts: Near Record Number of Housing Units Under Construction • Current State of the Housing Market: Overview for mid-February • Update: Some "Good News" for Homebuilders • 2nd Look at Local Housing Markets in January This is usually published 4 to 6 times a week and provides more in-depth analysis of the housing market.

Numbers 255
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Tax Considerations Relating to Debt for Distressed CRE Owners

Wealth Management

In addition to analyzing the economics of a distressed position, real estate owners must consider the tax implications of the various outcomes surrounding debt. In the worst-case scenario of a foreclosure, not only can an owner lose a property, but also be subject to income tax on phantom income.

Taxes 278
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The New Way Remote Finance Teams Are Protecting Accuracy And Building Resilience In A Cyber-Threatened World

Speaker: Cheryl J. Muldrew-McMurtry

Remote finance teams are rewriting how the back-office runs—and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats have become more than just “growing pains”. They’re now liabilities. The challenge isn’t just team distribution, but building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.