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One of the biggest challenges for small, independent RIA firms is that they are self-reliant with respect to designing, choosing, and implementing the systems, technology, and processes that they use. Some firm owners relish the responsibilities of building and maintaining a firm from the ground up, but others – who may be happier with simply advising and building relationships with clients – might find it more appealing to merge with or sell to a larger firm that has the resources t
The Census Bureau reports New Home Sales in May were at a seasonally adjusted annual rate (SAAR) of 763 thousand. The previous three months were revised down slightly, combined. Sales of new single‐family houses in May 2023 were at a seasonally adjusted annual rate of 763,000 , according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.
A quick note as the first half of 2023 draws to a close, shocking the locals with its intensity. Why? Because almost nobody saw this rally coming. 1 As of this moment, the indices stand appreciably higher than where they were on January 1, 2023: The NASDAQ 100 is up >38%, the S&P 500 is up ~15.5%, and the Russell 2000 small cap index is up almost 7%.
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.
Also on the site Why we all need regular doses of Vitamin O, i.e. optimism. (abnormalreturns.com) Top clicks this week Warren Buffett's advice on active vs. passive investing is clear. (monevator.com) Joshua Brown, "The thing that everyone’s talking about is not always the thing that ends up mattering." (thereformedbroker.com) What the CIA can teach investors.
Here is a graph of the year-over-year change in shelter from the CPI report and housing from the PCE report this morning, both through May 2023. CPI Shelter was up 8.0% year-over-year in May, down from 8.1% in April, and down from the cycle peak of 8.2% in March 2023. Housing (PCE) was up 8.3% YoY in May , down from 8.4% in April (April was the cycle peak).
Rising rates, falling savings, increased deficits, dubious GDP : Ever since the yield curve inverted and warnings of “imminent recession” filled the air, the Philly Fed’s map of State Coincident Indexes has provided a good real-time snapshot of the state of the economy. Friday’s release might have snuck by, but its filled with upside surprises that are worth looking at.
Rising rates, falling savings, increased deficits, dubious GDP : Ever since the yield curve inverted and warnings of “imminent recession” filled the air, the Philly Fed’s map of State Coincident Indexes has provided a good real-time snapshot of the state of the economy. Friday’s release might have snuck by, but its filled with upside surprises that are worth looking at.
Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that NAPFA has announced that it will no longer exclude advisors who receive up to $2,500 in annual trailing commissions from previous product sales, if they agree to donate that money to a non-profit organization and are otherwise fully dedicated to fee-only principles with their clients going forward.
I stopped the weekly updates of high frequency indicators at the end of 2022. Here is a mid-year look at four indicators: -- Airlines: Transportation Security Administration -- The TSA is providing daily travel numbers. This data is as of June 25th. Click on graph for larger image. This data shows the 7-day average of daily total traveler throughput from the TSA for 2019 (Light Blue), 2020 (Black), 2021 (Blue), 2022 (Orange) and 2023 (Red).
The weekend is here! Pour yourself a mug of coffee, grab a seat outside, and get ready for our longer-form weekend reads: • The Evolution of Financial Advice. To be a successful investor you need to possess a number of different traits. You need to understand how math, statistics and probabilities work. You need to understand how corporations and the global economy generally function over the long haul.
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.
Grief comes with mixed emotions. Help a client work through both their financial issues and their emotional struggles, and you’ll have a client for life.
Audio YouTube will soon allow automatic dubbing. (engadget.com) How many streams it takes an artist to earn $1,000 on different platforms. (genuineimpact.substack.com) Companies Matt Reustle talks with Tom Walsh, a portfolio manager at Baillie Gifford, about ASML Holdings ($ASML). (joincolossus.com) Benjamin Gilbert and David Rosenthal talk about the history of Porsche AG with Doug DeMuro.
Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report from economist Danielle Hale: Weekly Housing Trends View — Data Week Ending June 24, 2023 • Active inventory growth stalled completely, with for-sale homes lagging behind year ago levels for the first time in 59 weeks. As mortgage rates surged in 2022, buyers saw costs soar, and a large number of shoppers reoriented their housing plans.
All of the companies in the S&P 500 are worth $7.1 trillion in assets, accounting for close to 80% of available market capitalization on U.S. stock exchanges. Visual Capital notes: “Over the last decade, big tech names have dominated the index. The tech sector makes up over 26% , with Apple, Microsoft, and Nvidia as the top S&P 500 companies by market capitalization.
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.
One of the key steps in the financial planning process is presenting the plan to the client, which has traditionally been done as part of a single 'plan presentation' meeting that takes place once the advisor has gathered and analyzed all of the client's data. While this approach may have made sense in a time when the 'plan' itself was mostly limited to investment recommendations (which the advisor would be able to go on and implement themselves since they were managing the client's assets), fin
The DOL reported : In the week ending June 24, the advance figure for seasonally adjusted initial claims was 239,000 , a decrease of 26,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 264,000 to 265,000. The 4-week moving average was 257,500, an increase of 1,500 from the previous week's revised average.
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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.
For most financial advisory firm owners, ensuring that their business or practice is remunerative and that it can remain viable is often a key priority. And while there are many factors that help owners determine whether their firm is making enough money to profitably sustain itself, one common variable that can help them adjust their net revenue is the fee they charge to clients for financial planning services.
From the NAR: Pending Home Sales Shrunk 2.7% in May Pending home sales shrunk 2.7% in May from the previous month , according to the National Association of REALTORS®. Three U.S. regions posted monthly losses, while sales in the Northeast surged. All four regions saw year-over-year declines in transactions. “Despite sluggish pending contract signings, the housing market is resilient with approximately three offers for each listing,” said NAR Chief Economist Lawrence Yun, “The lack of housing inv
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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.
This week, we speak with Peter Borish, who is chairman and chief executive officer of Computer Trading Corporation, an investment and advisory firm. Borish was founding partner and right-hand man to Paul Tudor Jones at Tudor Investment Corporation , where he was director of research for 10 years. Borish also previously served as chief strategist for Quad Group LLC.
Altos reports that active single-family inventory was up 2.0% week-over-week. Click on graph for larger image. This inventory graph is courtesy of Altos Research. As of June 16th, inventory was at 460 thousand (7-day average), compared to 451 thousand the prior week. Year-to-date, inventory is down 6.3%. And inventory is up 13.4% from the seasonal bottom ten weeks ago.
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Welcome back to the 339th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Eric Roberge. Eric is the Founder and CEO of Beyond Your Hammock, an independent RIA based in Boston, Massachusetts, that oversees $47 million in assets under management for more than 80 client households. What's unique about Eric, though, is how, 10 years after launching his firm and enjoying strong and steady growth, he hit a capacity wall as a solo advisor and suddenly found the busines
The BLS reported on June 13th: The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 3.6 percent over the last 12 months to an index level of 298.382 (1982-84=100). For the month, the index increased 0.2 percent prior to seasonal adjustment. CPI-W is the index that is used to calculate the Cost-Of-Living Adjustments (COLA).
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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.
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