Sat.May 06, 2023 - Fri.May 12, 2023

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Offering Tax Preparation As A Solo Advisor: How To Attain Designations And Create A Schedule By Next Tax Season

Nerd's Eye View

Traditionally, financial advice and tax preparation have existed as 2 related, but separate, services. Besides the fact that many financial advisors don’t hold the necessary credentials (e.g., CPA, EA, or JD) to prepare tax returns and represent clients before the IRS, there has also been the impression that there is simply not enough time for one person to do both.

Taxes 242
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“Glass Half-Empty” Investors

The Big Picture

There’s an old joke about a hypochondriac who is constantly complaining to his doctor about his many numerous, mysterious ailments. The Doc runs a full battery of tests, and delivers the bad news to the patient: “ Unfortunately, everything is okay… ” And that seems to be the same way many of today’s glass half-empty investors are digesting information about the markets.

Banking 320
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Personal finance links: paying for the life you want

Abnormal Returns

Podcasts Peter Lazaroff talks with Mike Piper author of "After the Death of Your Spouse: Next Financial Steps for Surviving Spouses." (peterlazaroff.com) George Grombacher talks with Jonathan Clements about his new book "My Money Journey." (lifeblood.live) Banks Bank failures affect people who are not even customers of the bank. (thisisthetop.substack.com) Charlie wants to be a neobank for seniors.

Math 239
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Future Proof 2023: First 50 Speakers Announcement Drop

The Reformed Broker

Our first big reveal of speakers, musical acts, media, and sponsors for @FutureProofAC 2023 IS HERE Get your ticket today and join us in Huntington Beach, CA on September 10th-13th Register here: [link] pic.twitter.com/rbQR2zAGDk — The Compound (@TheCompoundNews) May 10, 2023 Today we announced the first fifty speakers who will be appearing at Future Proof Festival 2023.

Media 225
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How to Navigate Revenue and Expense Management: Competitive Insights for Financial Success

Speaker: Hilary Akhaabi, PhD - Founder, Chief Financial & Operations Officer at Go Africa Global

In the fast-paced world of corporate finance, staying ahead of the curve is crucial for sustainable growth and profitability. This exclusive webinar with leading expert Hilary Akhaabi, PhD, will teach you practical ways to navigate complex financial landscapes and enhance your company's revenue management capabilities. Whether you're aiming to refine your financial strategies or seeking innovative solutions to drive performance, this new session is for you!

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Weekend Reading For Financial Planners (May 13-14)

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 study found that clients of advisors providing comprehensive planning services are significantly more satisfied than those receiving a lower tier of service. The study also highlighted the importance of advisors taking the time to build trust with clients and to understand a client’s goals and needs, as this can not only differentiate an ad

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Tuesday links: putting bad companies out of business

Abnormal Returns

Strategy The 60/40 portfolio is flawed, but you need an alternative. (morningstar.com) Investors don't need to make snap judgments. (behaviouralinvestment.com) Finance Inside Vanguard's bond indexing money machine. (wealthmanagement.com) Why Arm Holdings is bypassing London for New York for its IPO. (cnbc.com) Venture capital Airbnb, Pinterest and Snowflake stand out as VC-backed companies from the past decade that are actually trading above their IPO values.

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Earnings Beats Everywhere You Look

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: ►Berkshire Hathaway Highlights – “Warren Buffett’s Berkshire Hathaway dumps billions of dollars of US stocks” ►IPOs – “Kenvue Stock Jumps in IPO of Former J&J Consumer-Health Busi.

Investing 222
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#FA Success Ep 332: Transitioning From (A Father’s) Commissions-Based Practice To Fee-Based Planning As A G2 Advisor, With Liz Hand

Nerd's Eye View

Welcome back to the 332nd episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Liz Hand. Liz is the co-owner of Pleasant Wealth, a hybrid advisory firm based in Canton, Ohio that oversees $146 million in assets under management for 522 client households. What's unique about Liz, though, is how she and her brother have taken ownership of what was originally their father’s broad commission-based practice with more than 1,500 clients, and have managed the balance

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10 Monday AM Reads

The Big Picture

My back-to-work morning train WFH reads: • How Sam Bankman-Fried Peddled a Story Everyone Wanted to Believe : In an excerpt from his upcoming book, Axios’s Brady Dale explores “what we think we know” about Sam Bankman-Fried, FTX, and the crypto industry. ( Institutional Investor ) • Where to Invest in Real Estate Now : Four experts offer timely ideas on where — and whether — to invest in this messy market. ( Bloomberg ) • 2023 World Changing Ideas Awards : Fast Company’s annual World Changing Id

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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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Adviser links: a fundamental misalignment

Abnormal Returns

Podcasts Michael Kitces talks with Jake Northrup, Founder of Experience Your Wealth, about scaling his practice. (kitces.com) David Armstrong talks with Larry Swedroe of Buckingham Strategic Wealth about how he talks with advisers about investing topics. (wealthmanagement.com) Daniel Crosby talks with Michael Thomas Jr. about building 'financial empathy.

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This Week on TRB

The Reformed Broker

And if you haven’t subscribed yet, don’t wait. Check it out below or wherever fine podcasts are played. . The post This Week on TRB appeared first on The Reformed Broker.

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Instead Of Asking “Why”, Try “What Else” To Get Clients To Open Up About Goals

Nerd's Eye View

In meetings with current and prospective clients, asking follow-up questions can be a valuable tool for uncovering information about the client’s underlying values, goals, and motivations… and for deepening the personal connection that drives the advisor-client relationship. But while it’s one thing to know that it’s good to ask questions, it’s another thing to know which questions to ask to make the client feel comfortable enough to open up and discuss the personal

Clients 219
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Podcast: Rit Angles

The Big Picture

I had a very fun conversation with my friend Roben Farzad about the business of culture, the culture of business, media and technology, markets and politics, Hollywood, the economy, investing and so much more. “I’m Roben Farzad, my guest this week is esteemed polymath and Wall Street watcher Barry Ritholtz on bank failures and human nature remote work surprising relationship to productivity Twitter under Elon Musk and markets seeking new leadership and lots more do stay with us.

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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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Thursday links: starting with the end in mind

Abnormal Returns

Markets What's the best asset to hold during a recession? (morningstar.com) If you invest in stocks there are going to be extended periods of poor performance. (bestinterest.blog) Companies Disney+ ($DIS) shed 4 million subscribers in Q1. (variety.com) How fast is Starbucks ($SBUX) growing outside the U.S.? (investmenttalk.co) What Google ($GOOGL) has going on in AI.

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Clips From Today’s Halftime Report

The Reformed Broker

Final Trades: Berkshire, Devon Energy & CRISPR Therapeutics from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.

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Why You Should Stop Asking “Why” – And Ask “What Else” To Get Clients To Open Up About Goals

Nerd's Eye View

In meetings with current and prospective clients, asking follow-up questions can be a valuable tool for uncovering information about the client’s underlying values, goals, and motivations… and for deepening the personal connection that drives the advisor-client relationship. But while it’s one thing to know that it’s good to ask questions, it’s another thing to know which questions to ask to make the client feel comfortable enough to open up and discuss the personal

Clients 185
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Register Now for Future Proof 2023!

The Big Picture

SAVE THE DATE: Future Proof 2023, September 10-13 We hosted the first Future Proof conference last year, and it was quite delightful (see all of the reviews here ). This year, we are upping the ante, with more guests speakers, more live podcast recordings, and more fun! I think for RIAs, it is the most important conference event of the year, as do others ( Best Conference Experience for 2023 ).

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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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Sunday links: killing bad ideas

Abnormal Returns

Strategy The case for international diversification is still solid. (humbledollar.com) Concentrated portfolios come with a lot of psychological stress. (awealthofcommonsense.com) Good luck trying to identify skilled investment managers with any certainty. (fortunesandfrictions.com) Berkshire Hathaway Everything that went down at the Berkshire Hathaway ($BRK.A) annual meeting.

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ChatCPI

The Reformed Broker

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Dion Rabouin, and Downtown Josh Brown discuss inflation, the Fed, the labor market, Robinhood earnings, the advent of 24/7 trading, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods! Listen here: Apple podcasts Spotify podcasts Google podcasts Everywhere else!

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YoY Measures of Inflation: Services, Goods and Shelter

Calculated Risk

Here a few measures of inflation: The first graph is the one Fed Chair Powell has been mentioning. Click on graph for larger image. This graph shows the YoY price change for Services and Services less rent of shelter through March 2023. Services were up 6.8% YoY as of April 2023, down from 7.2% YoY in March. Services less rent of shelter was up 5.2% YoY in April, down from 6.1% YoY in March.

Food 145
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The Case For International Diversification

A Wealth of Common Sense

The United States makes up nearly 60% of the global stock market by market capitalization: The dominance of American stocks over the rest of the world wasn’t just a 20th-century phenomenon either. The performance over the past decade and change shows U.S. stocks winning hands down over our foreign counterparts: Many investors look at these numbers and wonder: What’s the point of owning international stocks i.

Numbers 135
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Putting the ‘Tech’ in Spend Management Techniques

Speaker: Wayne Spivak, President and CFO of SBA * Consulting Ltd., Industry Writer, Public Speaker

If you’re lost in the world of spend management needs and your GAP analysis is lacking perspective on the future state of your business performance, listen up! With the advancement of technology, the implementation of spend management best practices and concrete GAP analyses is more streamlined and accessible than ever before. And while this may sound like great news for you and your clients, it won’t be worthwhile unless you have the latest techniques to back up your ambitions!

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Podcast links: the new venture landscape

Abnormal Returns

The biz A sign of ad weakness for top-end podcasts. (semafor.com) Podcast advertising is growing quickly, just slower than expected. (hollywoodreporter.com) Venture capital Howard Lindzon talks with Jeff Richards of GGV Capital about positioning for the new venture landscape. (howardlindzon.com) LibertyRPF talks with Jim O'Shaugnessy about what he sees for O’Shaughnessy Ventures.

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Clips From Today’s Halftime Report

The Reformed Broker

Final Trades: P&G, Terreno Realty, Toast & more from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.

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Fed Survey: Banks reported Tighter Standards, Weaker Demand for All Loan Types

Calculated Risk

From the Federal Reserve: The April 2023 Senior Loan Officer Opinion Survey on Bank Lending Practices The April 2023 Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS) addressed changes in the standards and terms on, and demand for, bank loans to businesses and households over the past three months, which generally correspond to the first quarter of 2023.

Banking 145
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NFIB Small Business Survey: Optimism Drops to 10-Year Low

Advisor Perspectives

The headline number for April dropped to its lowest level since January 2013, coming in at 89.0, down 1.1 from the previous month and below the Investing.com forecast of 89.6. April's reading remains below the series average of 98.2 for the 16th consecutive month. The index is at the 5th percentile in this series.

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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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Monday links: timing and luck

Abnormal Returns

Markets Small cap stocks have given up their relative gains over the past few years. (allstarcharts.com) One-year out S&P 500 earning estimates have stopped going down. (axios.com) Strategy Investor sentiment is out of whack with reality. (ritholtz.com) Why AI is unlikely to turn you into a stock picking genius. (bloomberg.com) Companies Energy companies are sitting on a growing pile of cash.

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The Housing Market Lottery

A Wealth of Common Sense

Financial success comes from some combination of hard work, discipline, patience and luck. That last piece is usually the biggest wild card. If you started investing in the early-1980s, you experienced 20 years’ worth of phenomenal returns from both stocks and bonds. If you started investing in the early-1960s, you experienced 20 years’ worth of rising rates and inflation which led to muted stock and bond retu.

Marketing 128
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Weekly Initial Unemployment Claims increase to 264,000

Calculated Risk

The DOL reported : In the week ending May 6, the advance figure for seasonally adjusted initial claims was 264,000 , an increase of 22,000 from the previous week's unrevised level of 242,000. This is the highest level for initial claims since October 30, 2021 when it was 264,000. The 4-week moving average was 245,250, an increase of 6,000 from the previous week's unrevised average of 239,250.

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