Sat.Oct 28, 2023 - Fri.Nov 03, 2023

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Effective Implementation Of A Backdoor Roth Strategy: Detailed Nuances, IRS Form 8606 (And When It’s Even Worth Doing)

Nerd's Eye View

There are many tax planning strategies that allow financial advisors to demonstrate the ongoing value they provide to clients in exchange for the fees they charge. Part of this value is understanding the detailed nuances that make a strategy effective and implementing it correctly, avoiding issues with the IRS down the line. For instance, while backdoor Roth conversions are a well-known strategy, many individuals have either missed the opportunity to use it and/or implemented it incorrectly R

Taxes 235
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What Do World War II & Covid Have in Common?

The Big Picture

We just experienced the strongest economic recovery since the end of World War II Source: Irrelevant Investor Light posting as I’m getting ready for some travel, but this chart is so amazing. It’s hard not to look at the two biggest recovery outliers: The post-WW2 era, and the post-Covid Era. The parallels are pretty strong, especially when it comes to both the Labor market and the Inflation surges.

Economics 284
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Personal finance links: cheat days

Abnormal Returns

Podcast Noah Kagan talks with Morgan Housel author of "Same as Ever: A Guide to What Never Changes." (noahkagan.com) Peter Lazaroff on how to research a firm using it's Form ADV. (peterlazaroff.com) Khe Hy talks with Sarah Chappell about the challenges of walking away from good money. (podcasts.apple.com) Dan Haylett talks with Mike Drak about better retirement lifestyle design.

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This Week on TRB

The Reformed Broker

ALERT: Michael, Barry, Ben and about twenty of our most highly skilled advisor / client service superstars are coming to North Carolina from November 6th through 8th to meet with clients and celebrate our new branch office in downtown Charlotte. I’ll be there too, of course. If you’d like to chat with us about your financial plan and portfolio in-person and you’re within driving distance of CLT, hit us u.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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The 10 Best Financial Advisor Conferences To Attend In 2024

Nerd's Eye View

After several years of turmoil caused by the pandemic, financial advisor conferences seem to have found a "new [post-pandemic] normal", with events once again growing (some already surpassing their pre-pandemic highs). But that's not to say that the conference landscape was not altered by the pandemic; instead, the pandemic appears to have served as a catalyst that accelerated trends that were already underway, such that financial advisor conferences today look substantively different than they

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Research links: value traps

Abnormal Returns

Factors Why corporate bond factor research is more challenging. (papers.ssrn.com) Why do stocks with high idiosyncratic volatility underperform? (alphaarchitect.com) Momentum Fund investors are momentum chasers. (klementoninvesting.substack.com) Momentum in the sports betting markets. (papers.ssrn.com) Research Do stocks really become less risky over the long run?

Investing 277
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The AI Moment Comes to Wall Street

The Reformed Broker

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Eric Jackson, and Downtown Josh Brown discuss the market’s strong start to November, using AI and machine learning to find alpha, the magnificent 7, fintech stocks, the court ruling impacting real estate stocks, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!

Marketing 161
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Weekend Reading For Financial Planners (November 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 the Department of Labor this week released its long-awaited "retirement security rule", its latest effort to curb conflicts of interest around retirement savings recommendations. Among other measures, the proposal would amend the current 5-part test that determines fiduciary status for retirement accounts by defining as a fiduciary act a one-time recommendation to roll fun

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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: • Kanye and Adidas: Money, Misconduct and the Price of Appeasement : A year ago, after producing hundreds of shoe styles and billions of dollars together, Adidas broke with Kanye West as he made antisemitic and other offensive public comments.

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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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Top clicks this week on Abnormal Returns

Abnormal Returns

Top clicks this week A big regime shift has happened in the economy and financial markets. (ritholtz.com) The bond market bear market is pretty epic. (mrzepczynski.blogspot.com) Byron Wien's 20 rules for investing and life. (ritholtz.com) Why aren't stocks down more? (theirrelevantinvestor.com) Remember the guy who forgot the password for a hard drive with 7,002 Bitcoin on it?

Valuation 266
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Stop Crying and Buy Bonds

The Reformed Broker

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: ►4th Quarter Rally? – Positive economic surprises say we are due for a Q4 meltup. ►Great News – American wealth hitting new highs. ►Effective Interest Rates – “This increased cost of capital is.

Economics 161
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#FA Success Ep 357: Building A High-Tech High-Touch Advisory Firm With The Modern Advisor Tech Stack, With Jon Henderson

Nerd's Eye View

Welcome back to the 357th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Jon Henderson. Jon is the Founder and CIO for Echo45 Advisors, an independent RIA based in Walnut Creek, California, that oversees $163 million in assets under management for more than 180 client households. What's unique about Jon, though, is how he has carefully vetted and curated his advisor tech stack of third-party software to provide a strong "high-tech" client experience… and

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Bubble Risk in City Property Markets?

The Big Picture

Buoyed by low interest rates for the last decade, many property markets have seen substantial price growth since 2010. Experts warned that real estate bubbles—in which the price of assets moved up far beyond their intrinsic value—were forming. The UBS Global Real Estate Bubble Index analyzes the real estate market of 25 major cities across the globe and assigns them a score between -0.5 to 2.0 to convey bubble risk.

Marketing 261
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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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Friday links: scary headlines

Abnormal Returns

Markets There are always scary headlines in the stock market. (awealthofcommonsense.com) One week doth not a bond bull market make. (allstarcharts.com) Crypto SBF found guilty on all counts. (coindesk.com) So much for everyone who said SBF wouldn't be indicted and/or convicted. (lefsetz.com) Companies Six Flags ($SIX) and Cedar Fair ($FUN) are merging.

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Medicare Time – Now What? Things to Know as You Start Out

Carson Wealth

By Matt Lewis, CLTC ® , Vice President, Insurance You’re turning 65 this year and Medicare is on your mind. Medicare is a subset of Social Security and run by the Social Security Administration. In my experience, it may be almost as complicated as the Internal Revenue Code! With that said, let’s answer some common questions about Medicare to help you get started.

Insurance 143
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Kitces & Carl Ep 124: When Clients Evolve Out Of Your Niche Specialization Should You Stay Or Go (Or Not)

Nerd's Eye View

Many financial advisors have found that serving a client niche not only helps them run a more efficient firm (as they work with clients facing similar planning issues), but also attracts more new clients (as they are able to offer a unique value proposition for clients within the niche). Notably, though, while certain clients are likely to stay within the niche throughout their lives (e.g., retired clients tend to remain retired until their deaths), other clients might 'evolve' out of the niche

Clients 170
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Presentation: Navigating Financial Disasters

The Big Picture

As promised, here is my presentation “ Navigating Financial Disasters ” from today at the Orlando Money Show… The post Presentation: Navigating Financial Disasters appeared first on The Big Picture.

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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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Monday links: asset allocation magic

Abnormal Returns

Strategy There's nothing magic about asset allocation. (obliviousinvestor.com) Do stocks really become less risky over the long run? (morningstar.com) Companies Google ($GOOGL) is investing $2 billion in AI player Anthropic. (axios.com) Pharmaceutical companies are getting out to the consumer product business. (wsj.com) Fidelity has further marked down the value of their stake in Twitter.

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Another Rep Challenges FINRA’s Constitutionality

Wealth Management

Former rep Sidney Lebental is citing FINRA’s legal sparring match with Alpine Securities to halt disciplinary proceedings against him. Meanwhile, FINRA has responded to Alpine’s allegations.

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Case-Shiller: National House Price Index Up 2.6% year-over-year in August; New all-time High

Calculated Risk

S&P/Case-Shiller released the monthly Home Price Indices for August ("August" is a 3-month average of June, July and August 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 Continues to Trend Upward in August Click on graph for larger image.

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MiB: Michael Carmen, Co-Head, Private Investments, Wellington Management

The Big Picture

This week, we speak with Michael Carmen , co-head of private investments at Wellington Management Co. LLP, which has more than $1 trillion in assets under management. Carmen, who manages the diversified late-stage growth equity business, previously managed institutional portfolios in the multi-cap growth style. He has written papers on topics concerning investment trends in late-stage growth and small-cap equity portfolios and is a chartered financial analyst.

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Finding “The One:” The Ultimate Guide to Selecting Financial Software

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

As finance and accounting practitioners, you are expected to complete daily operations as well as to manage next generation tools and resources to support a business that is growing in complexity. Having the right software can be critical in juggling and meeting those high expectations. The path to the right software, however, is paved with challenging decisions.

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Longform links: bandwidth depletion

Abnormal Returns

Books An excerpt from "The Fund: Ray Dalio, Bridgewater Associates and the Unraveling of a Wall Street Legend" by Rob Copeland. (nytimes.com) An excerpt from "The Dissident: Alexey Navalny, Profile of a Political Prisoner" by David M. Herszenhorn. (politico.com) Private equity The private equity industry controls a growing portion of the American economy.

Media 256
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Using Technology To Become A ‘Cyborg’ Advisor

Wealth Management

“Technology is not going to replace advisors, but advisors who do embrace technology are going to replace advisors who don’t,” said David Karr, chairman of Equitable Advisors.

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Comments on October Employment Report

Calculated Risk

The headline jobs number in the October employment report was below expectations, and employment for the previous two months was revised down by 101,000, combined. The participation rate and the employment population ratio both decreased, and the unemployment rate increased to 3.9%. Leisure and hospitality gained 19 thousand jobs in October. At the beginning of the pandemic, in March and April of 2020, leisure and hospitality lost 8.2 million jobs, and are now down 223 thousand jobs since Februa

Retail 131
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10 Thursday AM Reads

The Big Picture

My morning train reads: • The Economy Is Great. Why Are Americans in Such a Rotten Mood? Lingering inflation can’t explain all of the unhappiness; maybe it is referred pain from the wider world. ( Wall Street Journal ) • The Bond Market, a Sleeping Giant, Awakes : Soaring interest rates have the power to alter the direction of the economy and command the attention of Washington, our columnist says. ( New York Times ) see also World’s Safest Market Becomes a Magnet for Big Investors : US governme

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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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Podcast links: an abundance mindset

Abnormal Returns

Economy Kyla Scanlon talks with Derek Thompson about how to rally people to an abundance mindset. (youtube.com) Derek Thompson talks with Conor Sen about the housing recession. (open.spotify.com) Business Patrick O'Shaughnessy talks with Palmer Luckey, founder of Anduril Industries. (joincolossus.com) Alex Kantrowitz talks with Tekedra Mawakana is the Co-CEO at Waymo.

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DOL Unveils Details On Latest Fiduciary Rule Proposal

Wealth Management

President Biden will announce the proposed rule Tuesday afternoon. It will include amendments concerning rollover recommendations, according to administration officials.

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Realtor.com Reports Weekly New Listings UP 5.6% YoY; Active Inventory Down 1.0% YoY

Calculated Risk

Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report: Weekly Housing Trends View — Data Week Ending Oct 28, 2023 • Active inventory declined, with for-sale homes lagging behind year ago levels by 1.0%. For 19 straight weeks, the number of homes available for sale has registered below that of the previous year. • New listings–a measure of sellers putting homes up for sale–were up this week, by 5.6% from one year ago.

Sales 126