Nerd's Eye View

DECEMBER 6, 2023

Over the past several years, the financial services industry has undergone a tremendous evolution in how financial advisers deliver and charge for their services. While commission-based models remain in use, fee-for-service models (including AUM, hourly, retainer, and subscription) have become increasingly popular. And because many service offerings have traditionally focused on areas like investments and securities recommendations, there has been little debate about the need to register as an a

Investing 238

Investing Investments Financial Advising Retirement Planning 238

The Big Picture

DECEMBER 6, 2023

 Investing Skill vs. Luck with Michael J. Mauboussin, Counterpoint Global (Dec 6, 2023) Is it better to be lucky or good? How much of a role does luck pay in investing? And how can you tell the difference between chance and skill? In this episode of At the Money, I speak with Michael Mauboussin. ~~~ About Michael J. Mauboussin: Michael Mauboussin is head of Consilient Research at Counterpoint Global, Morgan Stanley Investment Management.

Investing 265

Investing Investments Management 265

Abnormal Returns

DECEMBER 3, 2023

Also on the site On the end of the influential The Reformed Broker blog. (abnormalreturns.com) Top clicks this week Why market timing is so difficult. (ritholtz.com) On the Magnificent 7 vs. Other 493 narrative. (investmenttalk.co) Jason Zweig, "More than almost anyone I’ve ever known, Munger also possessed what philosophers call epistemic humility: a profound sense of how little anyone can know and how important it is to open and change your mind.

Numbers 252

Numbers Investing Investments Marketing 252

Wealth Management

DECEMBER 6, 2023

SoFi Securities, SogoTrade, M1 Finance and Open to the Public Investing will pay more than $1 million in restitution after clients were promised fees from lending securities they allegedly never received.

Clients 143

Clients Investing Investments 143

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

DECEMBER 4, 2023

Welcome to the December 2023 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors! This month's edition kicks off with the news that Black Diamond has announced the launch of its own CRM system, targeting advisors at mid-size firms who have data complexity and workflow needs greater than what more basic CRM options can accommodat

Financial Advisor 203

Financial Advisor Clients Planning Distribution 203

Abnormal Returns

DECEMBER 8, 2023

Strategy What happens after a 20% up year for the stock market? (awealthofcommonsense.com) No investor, or investment strategy, is perfect. (morningstar.com) Fund management The factor ETF space has gotten crowded. (riabiz.com) Blackrock ($BLK) is building its own AI tools. (pionline.com) Books Amy Edmondson has won the Financial Times and Schroders Business Book of the Year Award for "Right Kind of Wrong: Why Learning to Fail Can Teach Us to Thrive.

Financial Advising 239

Financial Advising Media Economy Economics 239

Carson Wealth

DECEMBER 8, 2023

By Mark N. Petersen, CPA, CFP ® , CP, Affluent Wealth Planning The holidays are upon us! That must mean it’s time to roll up my sleeves and get to work on year-end financial planning – with an emphasis on 2023 income tax. One consideration this year is that we’re two years from the expiration of the Tax Cuts and Jobs Act of 2017 (TJCA). This will mean: · Elimination of the state and local tax cap of $10,000 · The return of other itemized deductions in 2026 · Reversion of individua

Planning 143

Planning Retirement Planning Taxes Insurance 143

Nerd's Eye View

DECEMBER 8, 2023

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that a new study from research firm Cerulli has found that investors' willingness to pay for financial advice has risen over the last 15 years, with more investors reporting using a financial advisor (and a decreasing share considering themselves "self-directed"), in spite of the proliferation of DIY investing options in the internet era – which highlights the value that

Financial Planner 188

Financial Planner Numbers Clients Wealth Management 188

The Big Picture

DECEMBER 2, 2023

This week, we speak with Michael Fisch , CEO and co-founder of American Securities , a $27-billion dollar private equity firm. He is a managing member of the general partners of the American Securities Partners’ series of private equity funds and a member of the investment committee of AS Birch Grove. He was previously a partner in two private equity funds, a consultant in the Paris office of Bain & Co., and worked in the mergers and acquisitions department of Goldman Sachs.

Consulting 249

Consulting Retail Management Assets 249

Advertisement

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.

Banking

Abnormal Returns

DECEMBER 6, 2023

Strategy Why investors may regret earning 5% on cash. (allstarcharts.com) The more room you can put between yourself and your investments, the better. (yield-to-maturity.beehiiv.com) Why investors are attracted to low probability games. (behaviouralinvestment.com) Technology Google ($GOOGL) has finally unveiled Gemini, its new AI model. (venturebeat.com) Eight charts that explain 2023 including the rise of the chatbot.

Financial Advising 238

Financial Advising Media Banking Management 238

Wealth Management

DECEMBER 8, 2023

Kaival Patel was found guilty of conspiracy to commit wire and health care fraud to pocket money raised from fraudulent compound medication prescriptions, according to the DOJ.

Medical 138

Medical 138

Nerd's Eye View

DECEMBER 5, 2023

Welcome back to the 362nd episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Jeff Brown. Jeff is the President of Stratos Private Wealth, an RIA based in San Diego, California, that oversees almost $1.5 billion in assets under management for just over 350 client households. What's unique about Jeff, though, is how his firm has developed associate advisor compensation plans and career tracks, with well-defined Level 1, Level 2, and Level 3 performance indicators of

Compensation Planning 183

Compensation Planning Planning Financial Advisor Clients 183

The Big Picture

DECEMBER 7, 2023

My morning train WFH reads: • How much should it cost to sell a house? Your real estate agent may be charging too much. Why should homebuyers and sellers pay for services they neither want nor use? It’s like being forced to pay a travel agent commission when booking a flight directly online. ( USA Today ) • Signs of a Weakening Job Market, in Five Charts : Openings and quits data could give clues to the direction of hiring and the economy. ( Wall Street Journal ) see also Pay Thousands to

Retail 238

Retail Commission Economy Accounting 238

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

Abnormal Returns

DECEMBER 5, 2023

Markets The premium for green energy stocks has evaporated. (wsj.com) The reversal in lithium prices is impressive. (ft.com) Lumber prices are flatish year-over-year. (calculatedriskblog.com) The market is pricing in the chance of multiple Fed rates cuts in 2024. (ft.com) Strategy The Fed matters for markets less than you think. (awealthofcommonsense.com) It's hard to build long term wealth with T-bills.

Financial Advising 238

Financial Advising Media Retirement Economy 238

Wealth Management

DECEMBER 6, 2023

The independent wealth management space is becoming less a friendly club and more a pitiless jungle, with big firms squeezing smaller competitors, poaching talent and where organic growth, not M&A, will drive firm value.

Wealth Management 122

Wealth Management Management 122

Advisor Perspectives

DECEMBER 8, 2023

Investing in “smart beta” was the rage in the early 2000s, as small-cap-value stocks vaulted over large-cap-growth stocks. But like all supercharged investment strategies, it didn’t last. Factors premiums have not materialized since the financial crisis. For most of the last decade, value has underperformed growth, driving the underperformance of the largest category of smart-beta strategies.

Investing 122

Investing Investments 122

The Big Picture

DECEMBER 6, 2023

The Charlie Munger Manifesto / PDF The post The Charlie Munger Manifesto (via Vishal) appeared first on The Big Picture.

Investing 286

Investing Investments 286

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

Abnormal Returns

DECEMBER 6, 2023

Podcasts Morgan Housel and Doug Boneparth discuss Charlie Munger's legacy. (open.spotify.com) Christine Benz and Jeff Ptak talk all things retirement with Dan Haylett. (morningstar.com) Retirement The case for (and against) taking Social Security early. (humbledollar.com) Why some people choose to come out of retirement. (humbledollar.com) How many more years do you have to live (on average)?

Retirement 235

Retirement Portfolio Clients Investing 235

Calculated Risk

DECEMBER 6, 2023

From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey Mortgage applications increased 2.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 1, 2023. Last week’s results include an adjustment for the observance of the Thanksgiving holiday.

Financial Market 119

Financial Market Marketing Marketing 119

Wealth Management

DECEMBER 6, 2023

New research from Edelman Financial Engines found 67% of Americans need more than $1 million to feel wealthy, while more than half say social media has negatively impacted saving.

Engineering 114

Engineering Media 114

The Big Picture

DECEMBER 6, 2023

My mid-week morning plane reads: • The Fed Matters Less Than You Think : Listen, I’m not saying the Fed’s rate hikes had no bearing on inflation. It certainly helped slow hot sectors of the economy like the housing market. But their actions have mattered far less than you think during this bizarre pandemic-induced economic cycle. ( A Wealth of Common Sense ) • The Takeaways Two Years After ‘Transitory’ Timed Out : Whether or not you choose to use that word, price pressures weren’t permanent. ( F

Economy 208

Economy Economics Investing Investments 208

Advertisement

All accounting teams know what it is like to dread the inevitable month-end scaries. If there was a way to feel less burdened and maybe even a little enthusiastic to work on your month-end close and reconciliation process, would you do it? No, don't answer that, of course you would! Automate your month-end close process by up to 40% with SkyStem's ART and see how much more alive you feel!

Accounting

Abnormal Returns

DECEMBER 5, 2023

Active management Active investing has a tax problem. (alphaarchitect.com) Why the active management space may be bigger than currently measured. (papers.ssrn.com) Replication Managed futures strategies are ripe for replication. (caia.org) How to replicate fund performance using index and smart beta funds. (insights.finominal.com) Factors What happened to the momentum effect?

Portfolio Management 229

Portfolio Management Assets Taxes Management 229

Calculated Risk

DECEMBER 8, 2023

The headline jobs number in the November employment report was at expectations, however employment for the previous two months was revised down by 35,000, combined. The participation rate and the employment population ratio both increased, and the unemployment rate decreased to 3.7%. Leisure and hospitality gained 40 thousand jobs in November. At the beginning of the pandemic, in March and April of 2020, leisure and hospitality lost 8.2 million jobs, and are now down 158 thousand jobs since Febr

Retail 117

Retail Numbers Economics Manufacturing 117

Wealth Management

DECEMBER 7, 2023

Firms ranging from Morgan Stanley and Raymond James to LPL Financial and Cetera Financial Group decried state regulators’ proposals, but non-profit law clinics representing small investors said NASAA was on the right track.

113

113

The Big Picture

DECEMBER 5, 2023

The transcript from this week’s, MiB: Michael Fisch, American Securities , is below. You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~ 00:00:00 [Speaker Changed] This is Masters in business with Barry Ritholtz on Bloomberg Radio. 00:00:07 [Barry Ritholtz] This week on the podcast, I have an extra special guest.

Management 173

Management Investing Investments Numbers 173

Advertisement

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.

Banking

Abnormal Returns

DECEMBER 2, 2023

Tesla Who is the audience for the Tesla ($TSLA) Cybertruck? (ritholtz.com) The Tesla ($TSLA) Cybertruck is no favor to the environment. (wired.com) EVs Now is a good time to buy an EV. (bloomberg.com) Why do EV range estimates vary so much? (wsj.com) Which EVs charge the fastest? (arstechnica.com) A look at the growing Formula E circuit. (wsj.com) Transport How e-bikes and scooters reduce carbon emissions more effectively than EVs.

Financial Advising 217

Financial Advising Media Transportation Food 217

Calculated Risk

DECEMBER 4, 2023

Today, in the Calculated Risk Real Estate Newsletter: IICE (Black Knight) Mortgage Monitor: "Home prices continued sending mixed signals in October" A brief excerpt: And on Florida inventory: Florida has experienced some of the largest inventory gains in recent months • In fact, six of the nine markets seeing the strongest inventory growth over the past three months – Palm Bay (+22pp), Lakeland (+21pp), Tampa (+19pp), Cape Coral (+18pp), North Port (+16pp) and Orlando (+14pp) – are located in th

Sales 115

Sales Marketing Marketing 115

A Wealth of Common Sense

DECEMBER 3, 2023

After Charlie Munger passed away this week, I went looking through an old post I wrote about his investing principles from a decade ago. There was a table I recreated that showed the annual returns from the Munger Partnership, which was the fund he ran before joining Buffett at Berkshire Hathaway for good: The results are spectacular but look at how volatile his returns were.

Investing 116

Investing Investments 116