The Big Picture
AUGUST 12, 2024
I’m deep in my book writing work discussing federal debt when I see a tweet that simply epitomizes the entire genre. Full disclosure: My priors on federal debt are that I don’t know where the line of too much should be drawn, but I do know that none of the terrible things we were warned about over the past 50 years due to excess debt have come to pass.
Abnormal Returns
AUGUST 10, 2024
Autos Why Americans are snapping up small cars. (axios.com) The U.S. has higher alcohol limits for drivers than other countries. (nytimes.com) How to get drivers to put down their phones. (arstechnica.com) Lighter, stronger steel would make for more efficient cars. (knowablemagazine.org) The story of Porsche. (quartr.com) Transport Air cargo rates across the Pacific are on the rise.
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Nerd's Eye View
AUGUST 16, 2024
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the Securities and Exchange Commission (SEC) announced that a total of 26 broker-dealers, investment advisers, and dually-registered firms agreed to pay combined civil penalties of almost $400 million for failing to maintain and preserve required records for "off-channel" communications, signaling the regulator's interest in cracking down on text messages and other communi
Advisor Perspectives
AUGUST 14, 2024
The Consumer Price Index for Urban Consumers (CPI-U) released for July puts the year-over-year inflation rate at 2.89%. The latest reading keeps inflation below the 3.74% average since the end of the Second World War for the 14th straight month. However, inflation remains above the 10-year moving average which is now at 2.83%.
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Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be
The Big Picture
AUGUST 11, 2024
Our story so far : Stuck at home over the pandemic, it was a perfect time to revisit a pastime of my youth – buying cheap beater cars, and turning them into something fun and worthwhile. Only this time, I have a lifetime of experience with what does and doesn’t work well, along with a somewhat more generous budget. All of this got restarted about a decade ago; I was personalizing a 2013 flood salvage-title Rubicon ; it reminded me how much fun it was to do these little projects.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Nerd's Eye View
AUGUST 12, 2024
In the modern era of financial advice, the advicer/client relationship is tightly centered on trust. And because of that foundation of trust, in an ideal advisor/client relationship, mistakes, disagreements, and concerns are surfaced quickly; action items are agreed and acted upon by everyone involved; and everyone feels aligned and accountable to their overall objectives.
A Wealth of Common Sense
AUGUST 16, 2024
I’m a neat freak, so occasionally, I clean out my office and re-organize. While doing so earlier this week I came across an old Life magazine a reader sent me a number of years ago. It’s from June 1962 and the stock market was the cover story: The pictures are fantastic. So was the lede of the story: The signs, like rumblings of an Alpine ice pack at the time of thaw, had been heard.
The Big Picture
AUGUST 10, 2024
The weekend is here! Pour yourself a mug of coffee, grab a seat outside, and get ready for our longer-form weekend reads: • The End of Spam: Robocalls and texts… your days are numbered : The industry blasting your phone with spam calls and texts is about to implode. The feds could throw a wrench into the opaque, sometimes sketchy, and incredibly lucrative lead-generator industry. ( Sherwood ) • The Well-Off People Who Can’t Spend Money : Tightwads drag around a phantom limb of poverty, no
Abnormal Returns
AUGUST 15, 2024
Business Another example of advisors getting rich while their clients underperform to the tune of billions. (bloomberg.com) Pixar bounced back with 'Inside Out 2' but you shouldn't expect a return to the company's golden age. (readtrung.com) How the U.S. fell behind in the drone business. (noahpinion.blog) How the magazine business died. (honest-broker.com) Companies Nine takeaway from six months of the Apple ($AAPL) Vision Pro.
Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius
4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor
Nerd's Eye View
AUGUST 13, 2024
Welcome everyone! Welcome to the 398th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Eric Wulff. Eric is the CEO of Marcum Wealth, an RIA based in Cleveland, Ohio, that oversees $2.5 billion in assets under management for approximately 2,700 client households. What's unique about Eric, though, is how he has built Marcum Wealth into a multi-billion-dollar firm under the umbrella of a national accounting firm, in large part by cultivating mutually beneficial rel
Calculated Risk
AUGUST 14, 2024
Here are a few measures of inflation: The first graph is the one Fed Chair Powell had mentioned when services less rent of shelter was up around 8% year-over-year. This declined and is now up 4.6% YoY. Click on graph for larger image. This graph shows the YoY price change for Services and Services less rent of shelter through July 2024. Services were up 4.9% YoY as of July 2024, down from 5.0% YoY in June.
Discipline Funds
AUGUST 16, 2024
Here are three things I think I am thinking about this weekend: 1) Three Terrible Ideas That Won’t Die. The Great Financial Crisis was wonderful because it got people interested in economics. And it was terrible in that it convinced a lot of people that mainstream economics was wrong about almost everything. This led to a revival in some heterodox ideas that the mainstream had long thrown in the dustbin.
Abnormal Returns
AUGUST 16, 2024
The biz Spotify ($SPOT) is filling up with AI-generated music. (fastcompany.com) Spotify ($SPOT) built up the market for podcasts in Latin America, but then pulled back. (restofworld.org) A list of the most powerful people in podcasting. (hollywoodreporter.com) Nate Silver Brett McKay talks with Nate Silver about his new book "On the Edge: The Art of Risking Everything.
Speaker: Igli Laci, Strategic Finance Leader
In today’s competitive market, pricing is more than just a number — it’s the cornerstone of profitability. The right pricing strategy ensures that you capture the true value of your offering, paving the way for sustainable growth and long-term success. Join Igli Laci, Strategic Finance Leader, in this exclusive session where he will explore how a well-crafted pricing approach balances customer perception with business objectives, creating a powerful tool for securing both competitive advantage a
Wealth Management
AUGUST 14, 2024
According to the commission, Russell Todd Burkhalter, the CEO of Drive Planning, allegedly used new funds to pay existing investors’ returns and personal expenses, including yacht and private jet payments.
Calculated Risk
AUGUST 14, 2024
From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey Mortgage applications increased 16.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending August 9, 2024. The Market Composite Index, a measure of mortgage loan application volume, increased 16.8 percent on a seasonally adjusted basis from one week earlier.
A Wealth of Common Sense
AUGUST 13, 2024
Do you know how long we’ve been in a recession for since the end of the Great Financial Crisis? Two months. In 15 years, the U.S. economy has been in a recession for just two months! That’s roughly 1% of the time, meaning that since July 2009, the United States has avoided a recession 99% of the time.
Abnormal Returns
AUGUST 15, 2024
Companies Brian Niccol has his hands full with turning around Starbucks ($SBUX). (barrons.com) Apple ($AAPL) stock was a much bigger bargain when Buffett first purchased shares. (bloomberg.com) Why Airbus has been unable to take full advantage of Boeing's ($BA) woes. (nytimes.com) Finance It seems the SEC will approve just about any ETF these days. (ft.com) What VC returns look like in the real world.
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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.
Wealth Management
AUGUST 14, 2024
More than two dozen broker/dealers and RIAs agreed to pay a combined $392.75 million in penalties, including Raymond James, LPL, Edward Jones and Osaic, among others.
Calculated Risk
AUGUST 13, 2024
Today, in the Calculated Risk Real Estate Newsletter: Part 1: Current State of the Housing Market; Overview for mid-August 2024 A brief excerpt: This 2-part overview for mid-August provides a snapshot of the current housing market. I always focus first on inventory, since inventory usually tells the tale ! Here is a graph of new listing from Realtor.com’s J uly 2024 Monthly Housing Market Trends Report showing new listings were up 3.6% year-over-year in June.
Alpha Architect
AUGUST 16, 2024
To determine the impact of sustainable investment strategies on equity returns, Romulo Alves, Philipp Krueger, and Mathijs van Dijk analyzed the relationship between ESG ratings and global stock returns. They found very little evidence that ESG ratings were related to global stock returns over the two-decade period. The Effect of ESG Strategies on Global Equity Returns was originally published at Alpha Architect.
Abnormal Returns
AUGUST 14, 2024
Companies Mars Inc. is buying Cheez-It maker Kellanova ($K). (wsj.com) Tilray Brands ($TLRY) has acquired four craft breweries from Molson Coors ($TAP). (finance.yahoo.com) Finance How much of the work of a junior analyst can be done by AI? (ft.com) Reverse stock splits are usually a last ditch effort. (sherwood.news) Fund management Ten questions for Vanguard's new CEO Salim Ramji.
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.
Wealth Management
AUGUST 16, 2024
Neil Gilfedder, the firm’s CIO, talks about how the RIA has incorporated its co-founder’s risk-adjusted investment analysis and how it stays transparent with clients.
Calculated Risk
AUGUST 14, 2024
The BLS reported this morning: The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 2.9 percent over the last 12 months to an index level of 308.501 (1982-84=100). For the month, the index increased 0.1 percent prior to seasonal adjustment. CPI-W is the index that is used to calculate the Cost-Of-Living Adjustments (COLA).
A Wealth of Common Sense
AUGUST 15, 2024
My colleague Alex Palumbo joined us on the show this week to discuss questions about how to deploy a big chunk of cash savings, how to diversify out of company stock, benchmarking financial performance and how to think about alpha when it comes to choosing a financial advisor. Further Reading: The Holy Grail of Portfolio Management 1The S&P 500 was up 9.8% per year while the 10 year Treasury gained 4.6% annually from.
Abnormal Returns
AUGUST 13, 2024
Venture capital There is nothing normal about the distribution of angel investment returns. (blogs.cfainstitute.org) How VCs drive media coverage of their portfolio companies. (papers.ssrn.com) Research How long can stocks underperform inflation? (ofdollarsanddata.com) Retail trading frenzies can have real world impacts. (papers.ssrn.com) How much protection do individual investors need?
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Finance Transformation Myths Busted Over 75% of organizations struggle to define the right success metrics to benchmark the impact of their finance transformation investment. Whether you are just initiating your digital transformation journey or planning to pitch your next AI project to leadership, without the right metrics and a rigorous tracking process - all your efforts might go to waste!
Wealth Management
AUGUST 13, 2024
Kim Krueger of Krueger Financial Services said Commonwealth was “well-equipped” to support the firm’s business model, with the option to shift to a hybrid RIA approach later.
Calculated Risk
AUGUST 14, 2024
Today, in the Calculated Risk Real Estate Newsletter: Part 2: Current State of the Housing Market; Overview for mid-August 2024 A brief excerpt: Yesterday, in Part 1: Current State of the Housing Market; Overview for mid-August 2024 I reviewed home inventory, housing starts and sales. In Part 2, I will look at house prices, mortgage rates, rents and more.
Steve Sanduski
AUGUST 14, 2024
Guest: Erin Scannell , Chief Executive Officer of Heritage Wealth Advisors. In a Nutshell: When I talked to Erin Scannell in 2020, he was directing 50 team members, 18 advisors, and about $2 billion in AUM. Four years later, Heritage has doubled to $4 billion in AUM, and Erin is in charge of over 80 team members, including 20 advisors and a robust support team.
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