Fri.May 24, 2024

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Weekend Reading For Financial Planners (May 25-26)

Nerd's Eye View

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that amidst growing cybersecurity threats targeted at the finance industry, the SEC adopted final amendments to Regulation S-P that will require SEC-registered RIAs and other financial firms to develop, implement, and maintain written policies and procedures for an incident response program to detect, respond to, and recover from unauthorized access to or use of customer inform

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Friday links: finding your tribe

Abnormal Returns

Markets Why do companies do stock splits? (sherwood.news) T+1 settlement is here. (axios.com) Strategy Ian Cassel, "Time is always trying to put you out of business." (microcapclub.com) A rock, digital or not, is still just a rock. (humbledollar.com) Crypto The SEC has approved spot Ethereum ETFs. (theblock.co) It was a big week for cypto regulation.

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Durable Goods Orders Rise More Than Expected in April

Advisor Perspectives

New orders for manufactured durable goods rose more than expected in April, coming in at $284.07B. This is a 0.7% increase from the previous month and more than the expected -0.9% decline. The series is down 0.9% year-over-year (YoY). If we exclude transportation, "core" durable goods were up 0.4% from the previous month and up 1.7% from one year ago.

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Podcast links: pod shopping

Abnormal Returns

Economy Derek Thompson talks with David Leonhardt author of "Ours Was the Shining Future." (theringer.com) Ezra Klein talks with James Pethokoukis author of "The Conservative Futurist: How to Create the Sci-Fi World We Were Promised." (podcasts.apple.com) Russ Roberts talks with Nick Bostrom author of "Deep Utopia: Life and Meaning in a Solved World.

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Live Demo: How to Achieve Reconciliation Zen

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

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

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Michigan Consumer Sentiment Drops 10% in May to Six-Month Low

Advisor Perspectives

Consumer sentiment fell over 10% in May to a 6-month low according to the final report for the Michigan Consumer Sentiment Index. The index fell 8.1 points (-10.5%) to 69.1 from the April final. The latest reading was above the forecast of 67.4.

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More Trending

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Momentum Everywhere, Even Cross-Country Factor Momentum

Alpha Architect

There is strong empirical evidence demonstrating that momentum (both cross-sectional and time-series) provides information on the cross-section of returns of many risk assets and has generated alpha relative to existing asset pricing models. Momentum Everywhere, Even Cross-Country Factor Momentum was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.

Assets 64
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May Vehicle Sales Forecast: 15.8 million SAAR, Up 2% YoY

Calculated Risk

From WardsAuto: May U.S. Light-Vehicle Sales Tracking to Annualized Rate Flat with April (pay content). Brief excerpt: There is a good possibility sales end May above expectations, depending on much holiday marketing pulls in additional buyers. Second-quarter sales are pegged at a 15.9 million-unit SAAR, with volume rising 1% from the year-ago period. emphasis added Click on graph for larger image.

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The WealthStack Podcast: The Importance of a Growth Partner With Andree Mohr

Wealth Management

Integrated Partners President Andree Mohr details the benefits of having the right partner.

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Q2 GDP Tracking: 1.8% to 3.5%

Calculated Risk

From BofA: 2Q GDP tracking is down a tenth to 1.8% q/q saar. Also, we expect the second print of 1Q GDP to be revised down to 1.2% from 1.6%. [May 24th estimate] emphasis added From Goldman: We boosted our Q2 GDP tracking estimate by 0.1pp to +3.2% (qoq ar) and our domestic final sales estimate by the same amount to +2.5%. [May 24th estimate] And from the Altanta Fed: GDPNow The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2024 is 3.5 perce

Sales 60
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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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Ratings Agencies Drop Outlooks on Focus, Edelman

Wealth Management

Moody’s changed its outlook on Focus to negative, citing the firm’s “hub” strategy. Meanwhile, the agencies assigned junk ratings to Edelman’s proposed $575 million term loan.

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Watch Months-of-Supply!

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: Watch Months-of-Supply! A brief excerpt: Although inventory is well below normal levels, so are sales. I think we need to keep an eye on months-of-supply. Historically nominal prices declined when months-of-supply approached 6 months - and that is unlikely this year - but we could see months-of-supply back to 2019 levels later this year.

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Steward Partners Scoops Up $320M Merrill Team in Florida

Wealth Management

After nearly 40 years with Merrill, advisor Alicia Fuller and her team join under Steward's W2 employee model and will use Raymond James for custody.

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RecessionAlert Weekly Leading Economic Index

Advisor Perspectives

The weekly leading economic index (WLEI) is a composite for the U.S economy that draws from over 20 time-series and groups them into the following six broad categories which are then used to construct an equally weighted average. As of May 10th, the index was at 22.165, up 1.698 from the previous week, with 5 of the 6 components in expansion territory.

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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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Sigachi Industries: Fueling Pharma Growth with High-Quality MCC

Trade Brains

We all know that the pharmaceutical industry is a complex ecosystem where countless components converge to produce life – saving medicines. A reliable supply of these components is fundamental for the smooth functioning of this industry, impacting everything from development timelines to patient access to meditation. Here’s where Sigachi industries play a major role through their production of Microcrystalline Cellulose (MCC).

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401(k) Real Chat: Saumen Chattppadhyay

Wealth Management

Retirement industry thought leaders answer three probing questions on critical issues, providing an open, honest and candid dialogue.

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What Is New and Sexy in the Income-Protection and Disability Insurance Space?

NAIFA Advisor Today

May is Disability Insurance Awareness Month. To mark the occasion, Advisor Today is please to bring you this article by the DI Geek, himself, Corey Anderson. Opinions expressed are those of the author.

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Fed’s Inflation Debate Shifts to How Much Goods Prices Can Drop

Advisor Perspectives

As Federal Reserve officials stare down the last mile in their campaign against inflation, one key question is becoming increasingly central to the debate: Will goods prices continue to fall?

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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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How do I time my sales pitch to get it right?

Sara Grillo

Timing a sales pitch is a work of art. Question from a follower: “I never know when to actually tell the prospect what I do, during the sales meeting. What’s the best time?” Don’t just mutter it in a ho-hum way. Steer the conversation into an emotional high and then WHAM drop the pitch. Take this action TODAY: (listening part) The beginning of the meeting should be where you let the prospect talk, asking guiding questions that probe deeper into what they need, their psycholog

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The New Dream Job Is Working for … the Government?

Advisor Perspectives

One of the best parts of being a young college graduate, and naïve to the grim realities of the working world, is being deluded about how great your career will be. Maybe you’ll found the next Nvidia, or win the Nobel Prize in your field, or start a charity that will make the world a better place.

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“How do I create a marketing calendar?”

Sara Grillo

Question from a subscriber: “ How do I create a marketing calendar for each segment of your client base (ie, boomer and gen x business owners, near retirees, recent retirees)? “ The most effective content you could create for someone comes from what is most relevant to them. Relevance comes from analyzing real world interactions that you have with your clients, and what you taught them.

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JPMorgan Hunts for Private Credit Firm to Grow in Hot Sector

Advisor Perspectives

JPMorgan Chase & Co. is on the hunt to buy a private credit firm to augment its $3.6 trillion asset management arm, as the biggest US bank makes more inroads into Wall Street’s buzziest sector.

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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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“How do I communicate everything I do?”

Sara Grillo

Question from a subscriber: “How do I create a unified message about the extraordinarily wide spectrum of things I do well?” Here is how to communicate what you do, when talking to a prospect or lead. I can not state it any more clearly than this: If you communicate more than three points , it comes off as a mish mosh , and there is no point to saying anything at all.

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Identifying AI Opportunities in Healthcare

Advisor Perspectives

Andy Acker and Research Analyst Tim McCarty discuss how artificial intelligence has enormous potential to improve healthcare delivery across the globe and point to some practical applications that could benefit patients – and investors – in the near term.

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How to avoid burning a bridge when you want to do business with a friend

Sara Grillo

Question from a subscriber: “How do I convert a casual friend to a prospect without burning the relationship?” The easiest thing – ask them if they want to receive your email newsletter. Make sure there is a logical reason why, other than so you can show them you are a financial advisor. The email newsletter had better be a wow, wow, super wow.

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On My Mind: The Twin Roots of Rising Rates

Advisor Perspectives

Franklin Templeton Fixed Income CIO Sonal Desai discusses why rising investment and persistently loose US fiscal policy are simultaneously pushing in the direction of higher long-term real interest rates.

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The Blueprint for a Customer-Centric Digital Lending Experience

Creating a winning digital lending experience requires plenty of focus on the needs of customers and more. Biz2X Chief Product Officer Aaron Traub covers everything from how to create such an experience, areas to hone in on, pitfalls to avoid, and plenty more in this insightful article. Discover how to utilize new technology without alienating existing customers, what to emphasize when working on your platform, and how to utilize the data at your disposal while not becoming overly reliant on it.

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SEC Adopts Updated Cybersecurity Rules

Wealth Management

On the same day the 24-year-old updates to Regulation S-P were announced, Interactive Brokers reported a customer data breach.

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Why I Steer Clear of Tech Dividend Stocks

Advisor Perspectives

Some of the biggest names in tech started paying dividends this year. This includes Alphabet (GOOG), Meta Platforms (META), Salesforce (CRM), and Booking Holdings (BKNG).

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How to save on financial advisor fees?

Sara Grillo

Financial advisor fees can be reduced – here are some ways. Don’t get suckered out of your hard-earned money! But before we get to the blog… Look, there are alot of schmucks out there hawking crap products disguised as financial advice. Don’t be fooled! Please subscribe to my newsletter to receive updates that raise awareness of consumer financial issues.