Sat.Aug 24, 2024 - Fri.Aug 30, 2024

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Monday links: easily digestible narratives

Abnormal Returns

Strategy Why pessimism sells on Wall Street. (optimisticallie.com) You can't just lock in money market rates. (obliviousinvestor.com) Finance Building a better global market index. (ft.com) The big index fund managers have a problem on their hands. (humbledollar.com) Ukraine How Ukraine successfully invaded Kursk. (ig.ft.com) How Ukraine defeated Russia in the Black Sea.

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Why Held-Away Asset Management Technology Is Being Scrutinized By State Regulators (And How Advisors Can Compliantly Manage Clients’ 401(k) Assets)

Nerd's Eye View

Historically, advisors haven't had many avenues to manage clients' 401(k) plan accounts, since unlike traditional custodial investment accounts, advisors generally lack discretionary trading authority in employer-sponsored retirement plans. Which wasn't necessarily a big issue back when most clients hired advisors after they had already retired and were able to roll over their employer plans into an IRA managed by the advisor; but as advisors have increasingly taken on working-age clients (and t

Assets 214
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Financial Voices I Ignore

A Wealth of Common Sense

The firehose of information we’re afforded these days is a double-edged sword. There is an abundance of news, analysis, charts and opinions but it can all be overwhelming if you don’t have an effective filter in place. When it comes to finance I have some filters to help understand which types of sources and people to safely ignore. These are the types of financial voices and data I immediately ignore: Pricing.

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Redtail Founder, Orion Tech Exec Brian McLaughlin Steps Down

Wealth Management

After more than 20 years in the wealthtech business, Orion's president of advisor technology says he's taking a break from the industry. He’ll stay on as an advisor to Orion’s CEO for the rest of this year.

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If It Aint Broke, Don’t Fix It: A Dangerous Mindset

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

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Top clicks this week on Abnormal Returns

Abnormal Returns

Top clicks this week 15 sure-fire ways to lose money in the markets. (awealthofcommonsense.com) Successful investors have a long time horizon. (awealthofcommonsense.com) Stop paying attention to stuff that doesn't matter. (behaviouralinvestment.com) What do you get when you buy a share of Berkshire Hathaway ($BRK.B)? (sherwood.news) It's not your imagination, market moves are getting faster.

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More Trending

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How Do You Decide to “Graduate” a Client?

Advisor Perspectives

As tough as financial advisors claim to be, we still get nervous about “firing” clients, too. When we say “graduate,” that is our delicate way of handling an uncomfortable situation. It’s a cheap, but effective way to massage the misgivings that we have about terminating client relationships.

Clients 116
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FINRA Fines Raymond James $1.9M Over Client Complaint Reporting

Wealth Management

According to the settlement letter, the brokerage regulator argued Raymond James didn’t properly check that personnel were filling out forms to ensure that written customer complaints were submitted to FINRA quarterly.

Clients 113
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Personal finance links: the market canopy

Abnormal Returns

Podcasts Peter Lazaroff on why you don't have to pick stocks to be successful. (peterlazaroff.com) Barry Ritholtz talks with Prof. Aswath Damodaran about the lifecycle of companies. (ritholtz.com) Khe Hy talks with Rachel Feintzeig about the ins and outs of taking a sabbatical. (youtube.com) Retirement How to plan for retirement. (humbledollar.com) The case against downsizing in retirement.

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Weekend Reading For Financial Planners (August 31–September 1)

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 benchmarking study suggests that a number of RIAs are looking to move 'upmarket' and work with wealthier clients by expanding their service menu to include family office services, investment banking, and/or trust services.

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4 Things Great Companies Do to Improve Cash Flow

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

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From Man vs. Machine to Man + Machine: The Art and AI of Stock Analyses

Alpha Architect

An AI analyst trained to digest corporate disclosures, industry trends, and macroeconomic indicators surpasses most analysts in stock return predictions. AI wins when information is transparent but voluminous. Humans provide significant incremental value in “Man + Machine,” which also substantially reduces extreme errors. From Man vs. Machine to Man + Machine: The Art and AI of Stock Analyses was originally published at Alpha Architect.

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The Diamond Podcast for Advisors: Marketing Tips from a CMO

Wealth Management

Gordon “Gordy” Abel from Dynasty Financial Partners offers perspectives on why marketing matters, how to create and leverage a brand, the key aspects of an effective value proposition and more.

Marketing 111
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Podcast links: the business of AI

Abnormal Returns

The biz It's not your imagination. Podcasts are running more ads. (wsj.com) The Kelce brothers just signed a big deal for their podcast with Amazon's ($AMZN) Wondery. (variety.com) How Apple ($AAPL) has fumbled its lead in podcasting. (spyglass.org) Economy Cameron Passmore and Benjamin Felix talk with Kyla Scanlon, author of "In This Economy?: How Money & Markets Really Work.

Economy 210
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8-Step “Agile Change” Framework For Smaller Firms To Communicate And Implement Organizational Change

Nerd's Eye View

For most of its history, the financial advice industry has been very slow to change. Over the last 50 years, even the most substantial changes to occur – such as the movement away from commissions and towards fee-based compensation, and the shift from an investment-centric approach to more holistic financial planning – have taken place over decades and, in many cases, are still ongoing.

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Pricing for Profit: How to Set, Negotiate, and Succeed

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

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Why People Don’t Save Enough For Retirement

A Wealth of Common Sense

Household net worth is at all-time highs. Housing prices are at all-time highs. The stock market is near all-time highs. But not everyone is feeling great about their finances. Here’s a look at average retirement balances by age along with the share of each cohort who feels like they’re on the right track for retirement: The good news is confidence tends to increase as you age.

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New Ensemble Practice Study: ‘We Have a Growth Problem’

Wealth Management

Advisory firms grew 5.7% last year, according to a new study by The Ensemble Practice. It’s a wakeup call for firms to make marketing a vital function.

Marketing 119
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Sunday links: the stories we like

Abnormal Returns

Strategy Another star manager, another disaster for investors. (awealthofcommonsense.com) Just because something is an index fund doesn't mean its a good investment. (wsj.com) Most market arguments are because of differing time frames. (tker.co) Why you likely don't need to focus on dividend paying stocks. (humbledollar.com) Companies Complexity is killing Starbucks ($SBUX).

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#FASuccess Ep 400: Sizing Up Versus Scaling Up To Build An Enduring Advisory Business, With Mark Tibergien

Nerd's Eye View

Welcome everyone! Welcome to the 400th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Mark Tibergien. Mark is the former CEO of Pershing Advisor Solutions, a former Principal with Moss Adams Consulting, and is a longtime practice management consultant and thought leader in the financial advisory industry. What's unique about Mark, though, is how, over the course of a 50-year career in financial services, he has seen firsthand the evolution of the financial advi

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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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Gasoline Prices Fall to 6-Month Low

Advisor Perspectives

Gas prices fell to their lowest level in 6 months this past week. As of August 26th, the price of regular and premium gas decreased 7 cents and 5 cents from the previous week, respectively. The WTIC end-of-day spot price for crude oil closed at $77.42, up 5.1% from last week.

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Anticipation for Rate Cuts, Strong Q2 Performance Fuel a REIT Rally

Wealth Management

After a sluggish first six months of 2023, publicly-traded REIT total returns are up more than 10% in the third quarter and by double-digits year-to-date.

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Research links: superior insights

Abnormal Returns

Quant stuff Just how much financial analysis can AI already do? (sparklinecapital.com) A look at three different backtesting methodologies. (papers.ssrn.com) Index funds On the performance of stocks kicked out of major indices. (researchaffiliates.com) Why do index funds change benchmarks? (morningstar.com) Private equity A look at the dispersion in private fund returns.

Valuation 210
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Rich vs. Wealthy

A Wealth of Common Sense

Finance definitions are tough to pin down because money is often in the eye of the beholder. The goalposts are always moving as you age and mature, and tastes change. Your perception of wealth can be impacted by: How you were raised. The wealth and material possessions of your peers. Your lifestyle. Your contentment with what you have. How your circumstances change over time.

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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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PCE Inflation Rises 2.5% in July, Less Than Expected

Advisor Perspectives

The BEA's Personal Income and Outlays report revealed inflation remained at its lowest level since early 2021. The PCE price index, the Fed's favored measure of inflation, was up 2.5% year-over-year, just below the forecasted 2.6% growth. On a monthly basis, PCE inflation was up 0.2% from June, as expected.

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Eight Investment Must Reads for This Week

Wealth Management

Options strategies are increasingly being packaged into SMAs, reports FundFire. The outcome of the U.S. elections has cast some uncertainty on the future of private infrastructure funds. These are among the investment must reads we found this week for wealth advisors.

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Adviser links: after-tax returns

Abnormal Returns

Podcasts Jill Schlesinger talks with Blair duQuesnay of RWM about her path as a financial adviser. (youtube.com) Michael Kitces talks with Kelli Kiemle, Managing Director of Growth and Client Experience of Halbert Hargrove, about maintaining culture across a remote firm. (kitces.com) Matt Zeigler talks with Eben Burr of Toews Asset Management about his unique path through the industry.

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Timing the Stock Market Using Valuations

A Wealth of Common Sense

A reader asks: My asset allocation has been pretty conservative since the market run-up in 2020. My basic thesis is that the market is overvalued, and the only way I can keep myself in equities at all is to have a 60/40 stock/bond allocation. One thing I like about having the 60/40 split is that it gives me the option of changing to a more aggressive allocation if stock valuations fall.

Valuation 101
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Benchmarking ROI with Forrester: Measuring the Success of Finance Transformation

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!

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The Big Four Recession Indicators: Real Personal Income Up 0.2% in July

Advisor Perspectives

Personal income ( excluding transfer receipts ) rose 0.32% in July and is up 4.1% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) was up 0.16% month-over-month and up 1.6% year-over-year.

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$7.5B Americana Adds Managing Partner to International Unit

Wealth Management

Javier Altimari, a former senior director and portfolio manager at Oppenheimer & Co., will be instrumental in building out Americana Partners International, the RIA’s new division serving international UHNW clients.

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Wednesday links: knowing the market

Abnormal Returns

Markets The Fed's balance sheet continues to shrink. (sherwood.news) Money is flowing into the iShares 20+ Year Treasury Bond ETF ($TLT). (ft.com) The rise of Nvidia ($NVDA) is simply unprecedented. (sherwood.news) Companies Is any media companies actually investable? (hollywoodreporter.com) Will Japanese customers abide a takeover of 7-Eleven? (washingtonpost.com) Lego is still crushing it.

Marketing 190