Impact of New $15M 'Permanent' Estate/Gift Tax Exemption
Wealth Management
JULY 7, 2025
Explore how the new $15 million federal estate tax exemption affects lifetime transfer planning and strategies for high-net-worth clients.
Wealth Management
JULY 7, 2025
Explore how the new $15 million federal estate tax exemption affects lifetime transfer planning and strategies for high-net-worth clients.
Calculated Risk
JULY 11, 2025
From Nick Villa at Moody's The Office Sector’s Double Whammy The ongoing challenges affecting the office sector have not only resulted in deteriorating space market fundamentals—evidenced by the record-high national office vacancy rate in the second quarter of 2025—but have also had a direct negative impact on capital market activities, including the performance of commercial mortgage-backed securities (CMBS).
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Nerd's Eye View
JULY 4, 2025
Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that Congress has passed highly anticipated tax legislation, making 'permanent' (i.e., without a scheduled sunset) the lower individual tax rates enacted as part of the 2017 Tax Cuts and Jobs Act (TCJA), increasing the estate and gift tax exemption (which was scheduled to revert to approximately $7.14 million next year) to $15 million in 2026, and raising the limit on the
Abnormal Returns
JULY 7, 2025
Podcasts Michael Batnick talks with Jason Wenk, CEO of Altruist, about the changing custody landscape. (youtube.com) Jeff Bernier talks with Larry Swedroe about the the evolving role of alternative assets like private credit and reinsurance in modern portfolios. (youtube.com) Barry Ritholtz talks with Kate Moore, chief investment officer at Citi Wealth.
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Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i
The Big Picture
JULY 4, 2025
This week, I speak with Kate Moore , chief investment officer at Citi Wealth. We discuss her extensive and diverse career, which saw her as Head of Thematic Strategy and a portfolio manager for the Global Allocation Fund at BlackRock , and stops at JP Morgan, Bank of America Merrill Lynch, Moore Capital and Morgan Stanley in senior investment positions.
A Wealth of Common Sense
JULY 13, 2025
Deutsche Bank has a chart that shows we’re looking at the worst 10 year period ever for U.S. government bonds: That doesn’t seem good. Being a market returns geek I decided to take this a step further by looking at the returns by decade for various maturities in government bonds to see how the 2020s stack up historically. Here’s the data for 5 year, 10 year and long-term (20+ years) U.S.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Calculated Risk
JULY 3, 2025
The headline jobs number in the June employment report was above expectations and April and May payrolls were revised up by 16,000 combined. The participation rate decreased, the employment population ratio was unchanged, and the unemployment rate was decreased to 4.1%. NOTE: State and local government education hiring was reported at 63.5 thousand in June (seasonally adjusted).
Nerd's Eye View
JULY 11, 2025
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that, amidst the growing number of RIAs it supervises, the Securities and Exchange Commission (SEC) is moving ahead with a potential plan to raise the $100 million regulatory assets under management threshold for SEC registration, with the regulator having talks with some state securities regulators (which would bear an increasing regulatory burden if the threshold were lifted
Abnormal Returns
JULY 1, 2025
Quant stuff A round-up of recent white papers including 'AI Beneficiaries: Investing in Second-Order Effects.' (bpsandpieces.com) Jane Street has centralized its operations on an obscure programming language. (economist.com) Private equity A look at the fundamentals of private equity-owned firms. (mailchi.mp) Why manager selection matters so much for alternatives.
The Big Picture
JULY 15, 2025
The transcript from this week’s, MiB: Richard Bernstein, CEO / CIO of RBA , 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. ~~~ This is Masters in Business with Barry Ritholtz on Bloomberg Radio Barry Ritholtz : This week on the podcast.
Speaker: Victor C. Barnes, CPA, MBA
In the climb from contributor to leader, the rules quietly change. If you’re aiming for the summit, the air gets thinner—and what got you here won’t be enough to get you to the top (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level.
Getting Your Financial Ducks In A Row
JULY 7, 2025
Photo credit: jb We’ve discussed here in the past about how it is a perfectly legal maneuver to make a non-deductible contribution to a traditional IRA and then at some point later convert the same contribution to your Roth IRA (see Is it Really Allowed? for more). If you have no other IRA accounts, this conversion to Roth can be a tax-free event, especially if there has been no growth or gains on the investments in the account.
Wealth Management
JULY 8, 2025
BlackRock made another move to bolster its private market capabilities with the acquisition of net lease real estate firm ElmTree Funds. Private investment platform Linqto, which promised access to pre-IPO firms, filed for bankruptcy amid SEC scrutiny of its practices. These are among the investment must-reads we found this week for financial advisors.
Calculated Risk
JULY 9, 2025
Today, in the Calculated Risk Real Estate Newsletter: Part 1: Current State of the Housing Market; Overview for mid-July 2025 A brief excerpt: This 2-part overview for mid-July provides a snapshot of the current housing market. The key stories for existing homes are that inventory is increasing sharply, and sales are essentially flat compared to last year (and sales in 2024 were the lowest since 1995).
Nerd's Eye View
JULY 9, 2025
Financial planning meetings often fall into categories like "Fix Meetings" (where there is an urgent problem that both the advisor and client want to address), 'Fine Meetings' (where everything is on track and the advisor provides reinforcement), or 'Flourish Meetings' (where clients are thriving and the focus is on expanding possibilities). However, another type of meeting occurs when the client isn't in crisis but has clearly drifted off track (e.g., spending more than planned, which could lea
Speaker: Kim Beynon, CPA, CGMA, PMP
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
Abnormal Returns
JULY 2, 2025
Podcasts Peter Lazaroff talks with Barry Ritholtz about his new book "How NOT to Invest." (peterlazaroff.com) Peter Mallouk talks the science of happiness with Jonathan Clements. (creativeplanning.com) Ben Carlson talks with Scott Rick, author of "Tightwads & Spendthrifts," to explore the psychology of spending (youtube.com) Rick Ferri talks with Phil DeMuth, author of "The Tax-Smart Donor.
The Big Picture
JULY 5, 2025
The weekend is here! Pour yourself a mug of Colombia Tolima Los Brasiles Peaberry Organic coffee, grab a seat outside, and get ready for our longer-form weekend reads: • JPMorgan’s Risky, 5-Day Dash to Help Warner Bros. Split in Two : Offering creditors a deal that would leave them with billions less than they were owed, despite the notes having an investment-grade rating.
Trade Brains
JULY 13, 2025
The Piotroski Score is a financial tool that assesses a company’s financial strength on a scale of 0 to 9, with higher scores reflecting better performance. Commonly used by value investors, it helps identify financially sound investment opportunities. A lower score suggests weaker financial health and may signal higher investment risk. Financially strong stocks represent companies with solid financial fundamentals, including consistent revenue, profits, healthy cash flow, and strong market posi
Wealth Management
JULY 1, 2025
More than a dozen asset managers have updated regulatory filings to drop accredited investor restrictions in the wake of a recent SEC decision, reports FundFire. Despite the recent rush to private markets, venture capital has struggled compared to other asset classes, according to PitchBook. These are among the investment must-reads we found this week for financial advisors.
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Where are top advisors focusing in 2025? AcquireUp’s 2025 Industry Index reveals it all. Based on insights from 200+ financial professionals nationwide, discover why 74% say seminars and referrals deliver the best ROI, how automation is helping advisors scale faster, and why only 8% are tapping into niche marketing (a major growth opportunity!). Whether you're refining your client acquisition strategy or scaling your practice, this report gives you the real-world data, benchmarks, and action ste
Calculated Risk
JULY 9, 2025
Different views on possible rate cuts (see paragraph 2). From the Fed: Minutes of the Federal Open Market Committee, June 17–18, 2025. Excerpt: In considering the outlook for monetary policy, participants generally agreed that, with economic growth and the labor market still solid and current monetary policy moderately or modestly restrictive, the Committee was well positioned to wait for more clarity on the outlook for inflation and economic activity.
Nerd's Eye View
JULY 10, 2025
As the financial advice profession has matured, behavioral finance has become an increasingly important element of modern advice. This holistic approach to financial advice, often referred to as life planning, focuses on helping the advisor understand the client’s financial history, deep-seated goals, and overall relationship with money, which can allow for more targeted and comprehensive advice.
Abnormal Returns
JULY 14, 2025
Podcasts Michael Kitces talks with James Conole, founder of Root Financial, about attracting clients who have engaged with his educational YouTube videos. (kitces.com) Michael Batnick talks tech overload with Kyle Van Pelt, CEO of MileMarker. (youtube.com) Meb Faber talks with Sara Naison-Tarajano, Global Head of Private Wealth Management Capital Markets and Goldman Sachs Apex.
The Big Picture
JULY 4, 2025
My 3 (4?) day weekend WFB reads: • For ‘Jaws’ fans, there is no bigger island than Martha’s Vineyard. Fifty years after the release of the summer blockbuster, many visitors won’t go in the water. ( Washington Post ) • The dollar’s recent decline is not about ‘safe haven’ status : Confidence in the dollar system had a bad shock in April, after the president’s absurd Rose Garden performance on “liberation day”.
Speaker: Claire Grosjean, Global Finance & Operations Executive
Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.
Alpha Architect
JULY 3, 2025
If you’re a factor investor, there will come a time where you will have to choose between mom and dad: Should you combine or separate your factor exposures? And make no mistake: You will have to make a decision! While there’s no right answer, the way you structure your portfolio can have significant implications for returns, costs, and even your own behavior as an investor.
Wealth Management
JULY 2, 2025
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Calculated Risk
JULY 14, 2025
From Matthew Graham at Mortgage News Daily: Mortgage Rates Just a Hair Higher Ahead of Important Inflation Report Today's movement in mortgage rates, in and of itself, is barely worth mentioning. The average lender remains close enough to Friday's levels but is technically just a hair higher. That fact is offset by the counterpoint that most of the past two months saw higher rates.
Nerd's Eye View
JULY 8, 2025
Welcome everyone! Welcome to the 445th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is James Conole. James is the founder of Root Financial, an RIA based in Encinitas, California, that oversees $1.3 billion in assets under management for 630 client households. What's unique about James, though, is how his firm has experienced massive growth (expecting to grow its revenue from $4.6 million to more than $10 million in 2025 alone) thanks in part by attracting clien
Speaker: David Worrell, CFO, Author & Speaker
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
Abnormal Returns
JULY 6, 2025
Also on the site this week. Newer, cheaper, better isn't always. (abnormalreturns.com) Make sure you stay on top of everything on Abnormal Returns. Sign up for our (free) daily e-mail newsletter. (abnormalreturns.com) Are you a financial advisor? Sign up for our (free) weekly advisor-focused newsletter. (newsletter.abnormalreturns.com) Top clicks this week Most investors don't understand the yield on option strategy ETFs.
The Big Picture
JULY 5, 2025
Good conversation with Sammy Azzous: Barry blends behavioral finance with data analysis to uncover some of the most common (and costly) investing mistakes — and how to steer clear of them. Tune in for actionable takeaways on failing better, managing market noise, and navigating the world of financial “experts.” Plus, Barry explains why the childhood advice “Don’t take candy from strangers” also holds true for grown-up investors.
Million Dollar Round Table (MDRT)
JULY 10, 2025
By Kennedy Sumarlie, AWP Running out of prospects is a common concern for many financial advisors. It’s an issue we must face and take action on now if we want to have future clients. One way to address this is to ask existing clients for new contacts. For this to work well, though, we must go about it effectively. One of my good friends, Arvita Mersilia , a six-year MDRT member and Court of the Table member, asks for at least three recommendations from her clients when she delivers the insuranc
Wealth Management
JULY 9, 2025
Modern Wealth’s fourth deal of 2025, and 17th since its founding in 2023, adds a firm in its home state and bolsters a workplace retirement plan division launched last year via acquisition.
Speaker: Erroll Amacker
Automation is transforming finance but without strong financial oversight it can introduce more risk than reward. From missed discrepancies to strained vendor relationships, accounts payable automation needs a human touch to deliver lasting value. This session is your playbook to get automation right. We’ll explore how to balance speed with control, boost decision-making through human-machine collaboration, and unlock ROI with fewer errors, stronger fraud prevention, and smoother operations.
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