Sat.Apr 27, 2024 - Fri.May 03, 2024

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1958 BMW 507 Series II Roadster

The Big Picture

In the northeast, Spring has fully sprung. Temps are expected to kiss 80 today, and after a mild winter, we have been enjoying abundant sunshine. The daffodils and tulips are up, the magnolias are blooming, and the pear and cherry trees are explosions of colors! All of that blue sky beckons us to hop in a roadster to enjoy the open road. My first high HP car was a BMW convertible, but the open-top car that set the standard was the 507.

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Top clicks this week on Abnormal Returns

Abnormal Returns

Top clicks this week You likely don't need a long-term bond fund. (wsj.com) Allan Sloan, "Don’t fall in love with your money fund." (barrons.com) Good luck trying to dial risk up and down at the right times. (collabfund.com) At what age do we say people are 'old'? (scienceblog.com) What are to make of the big, and persistent, valuation disparities between large and small caps.

Valuation 258
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How Advisors Can Work With Attorneys To Drive Better Estate Planning Outcomes For Clients

Nerd's Eye View

Financial advisors add value for their clients not only by helping them grow their wealth, but also by working with them to create a plan for how to use it. While much of this process may focus on the client's own lifetime planning needs (e.g., helping them develop a retirement income plan), it often also addresses the client's goals for their wealth after their death.

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Chicago PMI Falls to 17-Month Low

Advisor Perspectives

The latest Chicago Purchasing Manager's Index (Chicago Business Barometer) fell to 37.9 in April from 41.4 in March. This is the fifth straight monthly decline and the lowest level for the index since November 2022. The latest reading is worse than the 44.9 forecast and keeps the index in contraction territory for a fifth consecutive month.

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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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MiB: Joanne Bradford, Domain Money

The Big Picture

She was previously president of Honey, where she orchestrated the company’s sale to PayPal Holdings Inc. for $4 billion. She has been named one of Ad Age’s 100 Most Influential Women in Advertising. She previously held executive leadership positions at Microsoft, Yahoo!, Pinterest, SoFi, Demand Media. BusinessWeek nd the San Francisco Chronicle.

More Trending

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How To Register And Remain Registered With The SEC As An Internet Investment Adviser

Nerd's Eye View

A little over 20 years ago, when the Internet was still just a few years into gaining widespread use, the SEC understood its potential to transform how financial advisory firms conducted business with the ability to deliver advice digitally, lowering the barriers to serve clients across the country. However, the challenge for firms that wanted to use their websites to advise clients, but didn't otherwise qualify for SEC registration, was that they would ostensibly need to register in all 50 stat

Investing 232
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30 Years of Financial Market Returns

A Wealth of Common Sense

A colleague recently asked me to run the 30 year annual returns for U.S. stocks, bonds and cash. He just wanted the returns. I couldn’t help but slice and dice the numbers and overanalyze the data because that’s what we do here. Let’s dig in. First the annual return numbers for the S&P 500, 10 year treasuries and 3 month T-bills over the 30 years ending in 2023: Some thoughts about these numbers: St.

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10 Weekend Reads

The Big Picture

The weekend is here! Pour yourself a mug of coffee, grab a seat outside, and get ready for our longer-form weekend reads: • We might be closer to changing course on climate change than we realized : Greenhouse gas emissions might have already peaked. Now they need to fall — fast. ( Vox ) • Tesla Is Not the Next Ford. It’s the Next Con Ed. Elon Musk’s EV empire is crumbling.

Banking 173
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Tuesday links: controlling what you can control

Abnormal Returns

Strategy Widen your investing lens. (awealthofcommonsense.com) The best investors are running their own race. (klementoninvesting.substack.com) Walmart Walmart ($WMT) is launching a new in-house brand, 'bettergoods.' (axios.com) Walmart ($WMT) is getting out of the health clinic business. (retaildive.com) Eli Lilly Eli Lilly ($LLY) is selling a lot of weight loss drugs.

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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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Weekend Reading For Financial Planners (May 4-5)

Nerd's Eye View

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that a recent study indicates that nearly a third of advisors in the independent broker-dealer channel have considered transitioning to the RIA channel during the past year as they seek higher payouts and not just "independence" but greater autonomy over how they run their businesses and serve their clients.

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10 Years From Now

A Wealth of Common Sense

It feels like we’re in a weird place from the perspective of the economy and financial assets. Housing prices seem too high. Consumer prices seem too high. Stock prices seem too high. Government debt seems too high. I understand why people are worried. These things are cyclical and the lines can’t go up and to the right forever. Bear markets, financial crises, recessions, etc. are features we cannot do away wi.

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FHFA House Price Index Rebounds in February to New High

Advisor Perspectives

The Federal Housing Finance Agency (FHFA) house price index (HPI) rebounded to 423.0 in February, a new all-time high. U.S. house prices increased by 1.2% from the previous month and are up 7.0% from one year ago. After adjusting for inflation, the real index was up 0.8% month-over-month and up 5.1% year-over-year.

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Adviser links: communication skills

Abnormal Returns

Podcasts Ben Johnson and Julie Willoughby talk with Jen Abate, Head of Financial Institutions Group at Lazard Asset Management (morningstar.com) Cameron Passmore and Benjamin Felix talk with Meir Statman author of the new book "A Wealth of Well-Being: A Holistic Approach to Behavioral Finance." (rationalreminder.libsyn.com) The biz Goldman Sachs ($GS) is getting out of the robo-business by selling its Marcus Invest to Betterment.

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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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#FA Success Ep 383: Leveraging YouTube Videos To Organically Grow 9X To $750M In Just 5 Years, With Troy Sharpe

Nerd's Eye View

Welcome everyone! Welcome to the 383rd episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Troy Sharpe. Troy is the Founder and CEO of Oak Harvest Financial Group, an RIA based in Houston, Texas, that oversees approximately $750 million in assets under management for about 1,000 client households. What's unique about Troy, though, is how his firm's emphasis on driving organic growth through a multi-pronged marketing strategy, including a radio show, in-person semina

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Comments on April Employment Report

Calculated Risk

The headline jobs number in the April employment report was below expectations, and February and March payrolls were revised down by 22,000 combined. The employment population ratio decreased, and the unemployment rate increased to 3.9%. Construction employment increased 9 thousand and is now 604 thousand above the pre-pandemic level. Manufacturing employment increased 8 thousand and is now 181 thousand above the pre-pandemic level.

Numbers 121
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RecessionAlert Weekly Leading Economic Index

Advisor Perspectives

The weekly leading economic index (WLEI) is a composite for the U.S economy that draws from over 20 time-series and groups them into the following six broad categories which are then used to construct an equally weighted average. As of April 19th, the index was at 17.434, down 4.427 from the previous week, with 5 of the 6 components in expansion territory.

Economics 118
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Friday links: writing as a skill

Abnormal Returns

Berkshire Hathaway Is Berkshire's energy business still a growth engine moving forward? (bloomberg.com) You can't talk Berkshire without talking about Apple ($AAPL). (wsj.com) Why Berkshire Hathaway ($BRK.A) should buy Boeing ($BA). (bloomberg.com) Finance Regional banks are embracing their boring side. (bloomberg.com) SVB is selling its venture capital arm.

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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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FTC Non-Compete Ban Could Impact Wirehouses and Banks More Than RIAs

Wealth Management

The Federal Trade Commission's move to outlaw these clauses in contracts could affect millions of Americans. But litigation against the ban is already in motion.

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Case-Shiller: National House Price Index Up 6.4% year-over-year in February

Calculated Risk

S&P/Case-Shiller released the monthly Home Price Indices for February ("February" is a 3-month average of December, January and February closing prices). This release includes prices for 20 individual cities, two composite indices (for 10 cities and 20 cities) and the monthly National index. From S&P S&P CoreLogic Case-Shiller Index’s Upward Trend Persists in February 2024 The S&P CoreLogic Case-Shiller U.S.

Assets 122
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What to Tell Clients in a Nasty Election Cycle

Advisor Perspectives

The article to which this “Concerned American” refers was about investing in low-cost diversified index funds and U.S. Treasury instruments, such as TIPS. It wasn’t about politics, nor was I even thinking of the election as I wrote the piece.

Clients 117
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Personal finance links: working longer

Abnormal Returns

Podcasts Christine Benz and Amy Arnott talk with Meir Statman author of "A Wealth of Well-Being: A Holistic Approach to Behavioral Finance." (morningstar.com) Justin Carbonneau and Jack Forehand talk with Jared Dillian author of "No Worries: How to Live a Stress-Free Financial Life." (youtube.com) Peter Lazaroff talks with Sara Gelsheimer, Senior Wealth Manager at Plancorp, about the unique planning needs for women who are primary breadwinners.

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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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Alternatives Remain Off the Menu for 401(k) Plan Managers

Wealth Management

While corporate pension plans have adopted alternative investment options, such as private equity and credit, 401(k) plan managers face big obstacles to accessing the space, Cerulli survey shows.

Planning 117
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Realtor.com Reports Active Inventory Up 33.3% YoY; New Listings Up 10.4% YoY

Calculated Risk

What this means: On a weekly basis, Realtor.com reports the year-over-year change in active inventory and new listings. On a monthly basis, they report total inventory. For April, Realtor.com reported inventory was up 30.4% YoY, but still down almost 36% compared to April 2017 to 2019 levels. Now - on a weekly basis - inventory is up 33.3% YoY. Realtor.com has monthly and weekly data on the existing home market.

Sales 117
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Consumer Confidence Falls to Lowest Level Since July 2022

Advisor Perspectives

The Conference Board's Consumer Confidence Index® fell to its lowest level since July 2022. The index retreated to 97.0 this month from March's downwardly revised 103.1. This month's reading was lower than expected, falling short of the 104.0 forecast.

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Sunday links: return expectations

Abnormal Returns

Markets Why the stock market usually goes up. (humbledollar.com) How stocks, bonds and cash have performed over the past 30 years. (awealthofcommonsense.com) Average returns hide a lot along the way. (tker.co) Companies A look at Berkshire Hathaway ($BRK.A) stock on the eve of its first shareholder meeting without Charlie Munger. (barrons.com) The cloud computing business is so big that small shifts in market share matter a lot.

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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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FINRA Fines TD Ameritrade $600K for Missing 'Red Flags' in Options Trading Applications

Wealth Management

The brokerage regulator argued the firm’s automated process for approving options traders on its self-directed platform missed instances where clients submitted applications with conflicting information.

Clients 117
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Comments on February House Prices, FHFA: House Prices Up 7.0% YoY

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: Case-Shiller: National House Price Index Up 6.4% year-over-year in February; FHFA: House Prices Increased in February, up 7.0% YoY Excerpt: S&P/Case-Shiller released the monthly Home Price Indices for February ("February" is a 3-month average of December, January and February closing prices).

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ISM Manufacturing Index Moves Back into Contraction Territory in April

Advisor Perspectives

The Institute for Supply Management (ISM) manufacturing purchasing managers index (PMI) fell to 49.2 in April from 50.3 in March. The latest figures draws the index back into contraction territory after expanding for one month. The April reading was below the forecast of 50.0.