Nerd's Eye View

OCTOBER 23, 2023

Many financial advisors take pride in the comprehensive nature of the advice they provide to clients and use the variety of services offered as a point of differentiation between themselves and other types of advisors. Though, at some point, covering a large number of financial planning topics can eat into an advisor's time, which is problematic if clients won't pay substantially more to receive that more comprehensive advice.

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The Big Picture

OCTOBER 23, 2023

The chart in this morning’s reads shows what it is going to cost to fund the interest payments on the federal debt. It’s gone vertical as rates have moved from effectively 0 to over 5%. When rates were zero all of corporate America refinanced, lowering the cost of their debt to historically low levels. Households did the same; today 61% of homeowners with a mortgage are paying 4% or less in interest.

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Government Economics Taxes Budgeting 328

The Reformed Broker

OCTOBER 24, 2023

Conservatory at Biltmore, by Ann Vasilik via Our State There are four million households in North Carolina. Approximately half of those households (1.922 million) are comprised of a married male and female with children. Another half million are a female head of household with kids. There’s 180,000 or so male-led homes with children and then 1.4 million non-family households.

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Abnormal Returns

OCTOBER 21, 2023

EVs The case for plug-in hybrid vehicles, i.e. PHEVs. (ritholtz.com) Tesla ($TSLA) prices are down some 25% year-over-year. (axios.com) States are taxing EVs to make up for lost gas tax revenue. (washingtonpost.com) Big cities have unique challenging providing EV charging support. (politico.com) How much do EV batteries cost? (visualcapitalist.com) Transport Fatality rates for the youngest drivers have fallen over the past 20 years.

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Financial Advising Insurance Media Transportation 263

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

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

Accounting

Nerd's Eye View

OCTOBER 25, 2023

There is a general understanding that investment advisers have a fiduciary relationship with their clients – in other words, that they are required to act in the client's best interests. But although this concept makes sense in the abstract, it isn't always clear what an adviser needs to do to fulfill their fiduciary duty in real-life situations.

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Fiduciary Duty Commission Clients Accounting 208

The Reformed Broker

OCTOBER 27, 2023

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Rick Brink, and Downtown Josh Brown discuss inflation, what constitutes a recession, monetary policy, going long duration, the biggest risks to the market, and 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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Abnormal Returns

OCTOBER 27, 2023

Economy Barry Ritholtz talks with Bethany McLean, co-author of "The Big Fail: What the Pandemic Revealed About Who America Protects and Who It Leaves." (ritholtz.com) Eric Golden talks 'greedflation' and more with Samuel Rines who is the managing director of Corbu LLC. (joincolossus.com) Venture capital Rick Buhrman and Paul Buser talk with Ho Nam who is the co-founder of Altos Ventures.

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Nerd's Eye View

OCTOBER 27, 2023

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the shift in financial advice from pure investment management to comprehensive financial planning continues, with more individuals becoming CFP professionals than CFAs in the past few years as consumers increasing the diversity of their financial goals.

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Financial Planner Financial Advice Financial Advisor Tax Planning 203

The Big Picture

OCTOBER 27, 2023

Since the Great Financial Crisis in 2008-09, the income portion of portfolios has been almost an afterthought. Your checking and savings accounts earned less than 30bps; so too did the cash sitting in your brokerage account. Equities did well, averaging ~14% during the 2010s, but Bonds, not so much. For the decade1 from 2012 to 2022, 10-year Treasuries yielded less than 3% and averaged closer to 2%.

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Portfolio Government Wealth Management Taxes 141

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Banking

The Reformed Broker

OCTOBER 24, 2023

Join Downtown Josh Brown and Michael Batnick for another round of What Are Your Thoughts? On this week’s episode, Josh and Michael discuss the biggest topics in investing and finance, including: ►Small Caps are F*cked – “But as with everything, there is more to the story…” ►Chevron Buys Hess – Second major domestic oil deal in a month after Exxon agreed to buy Pioneer.

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Investing Investments Marketing Marketing 152

Abnormal Returns

OCTOBER 26, 2023

Markets Why aren't stocks down more? (theirrelevantinvestor.com) The stock-bond correlation does one thing: it changes. (fa-mag.com) Stocks outperform bonds over the long run, but not every year or even decade. (bestinterest.blog) 60/40 portfolios Where the valuation of the 60/40 portfolio stands. (morningstar.com) Why the 60/40 portfolio endures. (demystifyingmarkets.com) Strategy On the importance of being able to sit on your hands.

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Financial Advising Valuation Portfolio Economy 235

Nerd's Eye View

OCTOBER 24, 2023

Welcome everyone! Welcome to the 356th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Sarah-Catherine Gutierrez. Sarah-Catherine is the founder of Aptus Financial, a fee-only financial planning firm based in Little Rock, Arkansas, that is approaching $2M in revenue and works with over 480 client households. What's unique about Sarah-Catherine, though, is that despite the common industry belief that the only way to build and scale a firm is through AUM, she has

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Financial Advisor Financial Planning Planning Fee Only 184

The Big Picture

OCTOBER 26, 2023

Earlier this year, I gave my first presentation since the pandemic began. I discussed all of the many ways we hurt ourselves financially, specifically, the focus was on the 3 biggest mistakes high net-worth people make. I got lots of good feedback about the presentation, but my favorite note from someone in the room was: “ Thanks for identifying these issues, but how do I navigate them ?

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Taxes Investing Investments 141

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.

Financial Advice

The Reformed Broker

OCTOBER 24, 2023

Final Trades: Wynn, McDonald’s & more from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.

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Abnormal Returns

OCTOBER 25, 2023

Podcasts Peter Lazaroff talks with Hal Hershfield author of "Your Future Self: How to Make Tomorrow Better Today." (peterlazaroff.com) Robin Powell and Abraham Okusanya talk with Victor Haghani co-author of "The Missing Billionaires: A Guide to Better Financial Decisions." (evidenceinvestor.com) Morgan Housel on the flaws that compound over time. (open.spotify.com) Retirement Jim Dahle, "For you to run out of money, two “bad” things have to happen: crummy returns AND a long life.

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Retirement Budgeting Planning Accounting 230

Carson Wealth

OCTOBER 23, 2023

A late week sell-off saw stocks barely break their early October lows, with the S&P 500 now down 7.9% from the late-July peak. Although the weakness the past few months hasn’t been fun for investors, it is important to note that stocks are still up more than 10% for the year and a fourth-quarter rally is still expected. October volatility continued, but a major late-October low could be forming.

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Marketing Marketing Economy Retail 143

The Big Picture

OCTOBER 21, 2023

The weekend is here! Pour yourself a mug of pumpkin spiced latte, grab a seat by the window, and get ready for our longer-form weekend reads: • Brazil Is Embracing the Crisis That Everyone Else Wants to Avoid; Offers Venezuelans Jobs in Growing Migrant Crisis : Latin America’s largest economy is linking newcomers with jobs, while its neighbors and the US struggle with a migration surge that shows no signs of slowing. ( Bloomberg ) • After The Human : The increasingly symbiotic relationship betwe

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Numbers Economy 141

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.

Financial Planning

A Wealth of Common Sense

OCTOBER 22, 2023

Every three years the Federal Reserve puts out a report that summarizes the changes to family finances in the United States. I know averages, aggregates, medians and such never tell the entire story but directionally this stuff can be helpful in terms of understanding where things stand. Let’s dig in. Real median net worth for U.S. households was up a stunning 37% from 2019-2022.

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Abnormal Returns

OCTOBER 27, 2023

Bonds The bond market is doing the Fed's work for it. (ft.com) The bond market touches just about everything. (nytimes.com) Strategy A big way how the stock market has changed over time. (awealthofcommonsense.com) Successful stock investing is about knowing when you are wrong as early as possible. (microcapclub.com) Hedge funds aren't the cure for market volatility.

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Media Financial Advising Economy Numbers 226

The Irrelevant Investor

OCTOBER 27, 2023

You cannot be online and think things are getting better. Let me show you one example. This was on the front page of The Wall Street Journal yesterday. Instead of a headline like “U.S. Economy Grows at Fastest Pace in Two Years,” they wrote: “U.S. Economy’s Summer Surge May Not Last” And below it, “There are warning signs underlying the eye-popping numbers.” Charlie Munger once.

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Economy Numbers 129

Calculated Risk

OCTOBER 26, 2023

From CoreLogic: US Serious Mortgage Delinquency Rate Drops to All-Time Low in August • The share of U.S. borrowers who were in serious mortgage delinquency (90 days or more late on payments) dropped to 0.9% in August, the lowest recorded since January 1999. • The overall national mortgage delinquency rate (30 days or more late) was at 2.6% in August, also a historic low. • The U.S. foreclosure rate held steady at 0.3% in August, unchanged since early 2022. • Only Idaho and Utah saw slight annual

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Marketing Marketing 126

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Accounting

A Wealth of Common Sense

OCTOBER 27, 2023

Here’s something Henry Blodget wrote about notorious stock market bear John Hussman: Every historical indicator Hussman is looking at is suggesting that the stock market is wildly overvalued and headed for a period of lousy returns. How lousy? John Hussman thinks there’s a good chance the stock market will soon crash 40-50 percent. And even if the market doesn’t crash, Hussman thinks stocks are priced to.

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Marketing Marketing 131

Abnormal Returns

OCTOBER 25, 2023

Strategy A big regime shift has happened in the economy and financial markets. (ritholtz.com) Rapid company growth comes with its own risks. (onveston.substack.com) Not all share buybacks are created equal. (investmenttalk.co) Finance Poor recent performance has put the IPO market back on ice. (finance.yahoo.com) Banks are still sitting on the Twitter debt they underwrote.

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Portfolio Financial Advising Economy Media 226

Advisor Perspectives

OCTOBER 25, 2023

In the fiscal year that just ended, the US government borrowed $1.7 trillion, more than 6% of gross domestic product. Bear in mind, that was with an economy running hot, with high inflation and more than full employment.

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Government Economy 122

NAIFA Advisor Today

OCTOBER 23, 2023

NAIFA is proud to announce that John A. Davidson , LUTCF, FSS, President and CEO of Davidson Insurance & Financial Services , Inc., in Thousand Oaks, CA, is the 2023 recipient of NAIFA’s Terry Headley Lifetime Defender Award.

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Financial Services Insurance 119

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Banking

A Wealth of Common Sense

OCTOBER 26, 2023

Further Reading: Do Valuations Even Matter For the Stock Market? 1I would argue real estate would be a close second on this list from an inflation hedge perspective but the long run returns are much harder to calculate when you include things like ancillary costs, mortgage rates, refinancing, leverage, etc. 2And this is real since stocks are a real asset.

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Marketing Marketing Valuation Assets 120

Abnormal Returns

OCTOBER 24, 2023

Markets Money market funds are gorging on T-bills. (ft.com) The markets are not expecting further Fed rate hikes. (capitalspectator.com) Strategy A history of the pandemic era stock market boom (and bust). (morningstar.com) Is gold a good investment? Meh. (monevator.com) Crypto Blackrock ($BLK) is all ready to go with a spot Bitcoin ETF. (etf.com) Grayscale is teaming up with FTSE Russell on crypto indices.

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Financial Advising Economy Media Numbers 221

Advisor Perspectives

OCTOBER 27, 2023

Personal income ( excluding transfer receipts ) rose 0.4% in September and is up 5.1% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) was up 0.1% month-over-month and 1.6% year-over-year.

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