Everyone has an opinion on how you should run your practice. Here is how to know which suggestions are worth following.
What are some of the more unique gifts or events advisors are doing for clients?
As we know all too well, human beings are neither perfect nor consistently rational, especially when our hard-earned money is involved.
My previous webinars were sponsored by my clients. Everything was handled for me. With this one, I was entirely on my own.
Could it be that your internal eagerness to comply with your prospect’s apparent requirements conveys a subservience that dissuades them from trusting you?
I show how the best way to utilize bonds in retirement is not to rebalance between stocks and bonds in retirement, but rather to draw down on the bond side of the portfolio first and let the portfolio drift towards a greater equity allocation.
The Age of AI (And Our Human Future), by Henry Kissinger, Eric Schmidt, and Daniel Huttenlocher, is keenly relevant.
Investors should embrace a genuine long-term perspective, extending their time horizons to at least 20 to 30 years. The traditional notion of long-term investing (five to 10 years) may fall short of realizing the full benefits of long-term strategies.
Advisor Perspectives, the premier digital publisher for the financial advisory profession and a recent addition to the fast-growing VettaFi lineup of research and educational offerings, today announced that it has been ranked as the most-read electronic newsletter among financial advisors for the fifth year in a row by Erdos Media Research’s Financial Advisor Media Outlook and Usage Study (FAMOUS).
Are you curious about what a transition in the digital age truly entails? My guest, Lizzie Warner, and I will step inside the world of broker-dealer/RIA transitions and unveil the timeline and milestones of these transformations. We want this to be your gateway to making your move smoother and more accessible than ever before.
Lizzie Warner, vice president of transition and strategic acquisitions at Cambridge, shares her insights and stories from guiding countless financial advisors through this pivotal change.
Lizzie will also introduce Cambridge's complimentary resource, “Asking the Right Questions of Your Next Transition Team.”
Fiduciary duties are either unneeded or harmful, according to the opponents of the DOL rule. In their view, the finance and insurance industries have already achieved perfection.
A cash cushion is needed not just for initial startup costs but for peace of mind as you leave your firm, move clients over and reestablish revenue.
Several ex-Cantor Fitzgerald executives started a crypto lending platform with the expectation that it will serve operators of spot Bitcoin exchange-traded funds once they gain US regulatory approval.
A recent study found significant differences in how our brains process in-person meetings and Zoom calls versus in-person meetings.
I’ll share some important insights gleaned from many decades of working in the advisory profession and being both an insider and an outsider.
Here are six key trends for HNW donors to consider during your giving season conversations.
User engagement is up on LinkedIn. How can you capitalize on it? Here are six steps to cultivate a LinkedIn network.
Identifying problems is great. Identifying solutions is even better, especially when the politicians who are supposed to be solving our big problems don’t even try.
Is the work you do to make a living a job, a career, or a calling? Recognizing the difference will pay great dividends in many ways.
Fiduciary September just concluded. To generate further awareness, my organization, the Institute for the Fiduciary Standard, produced eight panels with 22 speakers.
Advisor Perspectives has announced its Venerated Voices™ awards for commentaries published in Q3 2023.
Last week, Bob attended the Insider’s Forum in San Antonio last week - a gathering of several hundred financial planners that focused on the latest research in practice management and other topics for the advisory profession.
When you see articles and posts about the Michigan Consumer Sentiment Index, ignore them.
In investing, you can have a safe present or future value, but not both!
One mark of true brilliance is the ability to make complex ideas seem simple. I think this is why so many of us fondly remember our early schoolteachers.
Successful businesses know excellent service. Giving yourself time to truly get to know your clients’ needs and then setting your business up to optimize how you serve them is key to establishing long-term relationships. If you’re working at a wirehouse, this isn’t always possible. It’s time to find the right business structure—one that gives you the freedom to work with your clients your way.
I always talk about how powerful social media is. Let me tell a story that proves it.
Many Americans believe that Gen Z is financially illiterate and uninformed. But the story is not that simple.
SECURE 2.0 contained a provision that gave favorable treatment to partial annuitization. The reason you haven’t heard about this is because those transactions cannot increase commissionable income.
As with so many other financial matters, the varying opinions around student loan debt forgiveness are more about emotions than dollars.
We can and are building much taller skyscrapers. But they are impractical money losers because so much floor space is taken up by elevators. A new book explains the interplay between size and scale, and what it means for our economy and investments.
We hope you enjoy the latest Newsletter from Harold Evensky.
Deride the tactics of car salespeople all you wish, but their primary sales tool shows just how much brokers pay their employers.
Improve your own and your firm’s productivity by sidestepping these top five hybrid work mistakes.
To widen your audience, deepen client bonds, and carve out a strong market presence, a webinar strategy is your ticket to success.
I’m finding it hard to reconcile this.
For financial advisors, an appreciation of these changes fosters more profound empathy with older clients and fine-tunes their strategies.
Your prospects often don’t tell you everything you need to know to assess the depths of their problems, because they can’t articulate the context behind their surface-level description of their issues.
Have you ever wondered why your closing ratio on seminar attendees rarely exceeds 40%?
Today, I am going to do something that I've never done. I am going to start a two-part series describing what is in my personal portfolio and why. Let me start by offering two caveats: This letter is in the “do as I say and not as I do” category.
Oil has entered a new uptrend after finally breaking out from nearly a year-long bottom formation. Support from OPEC+, notably Saudi Arabia’s one million barrel per day production cut for the remainder of the year, has been a major driver of the rally.
On August 25, Massachusetts’ highest court shocked the investment world by unanimously ruling against Robinhood and for the state’s fiduciary rule. Robinhood must change its ways to remain in business.
Supply chains are realigning, to China's dismay.
What’s going on with the markets and the economy? Long-term Treasury yields are up substantially since last Fall while the stock market, after a big rally, has stumbled so far this month. Meanwhile, the real economy appears to continue to chug along – even accelerating!
With the Fed’s tightening on monetary policy and the constant threat of a recession looming, policymakers and advisors are closely monitoring economic indicators because the data can ultimately impact business decisions and financial markets.
The role of the human psychological cycle in driving stock and bond prices is well understood and pre-dates behavioural economics. There are elements that suggest we may be going through another period of ‘irrational exuberance’ as several long-term investors seem stuck in the mindset that ‘There Is No Alternative’ (TINA) to US equities.
Equity traders reeling from the market’s worst stretch since February face some pivotal events in the days ahead, and a closely watched speech by Federal Reserve Chair Jerome Powell may not even be the biggest test of all.
Halfway through the third quarter, the economy is looking surprisingly strong. A tracker from the Atlanta branch of the Federal Reserve has real gross domestic product growth, based on the limited data we've gotten so far, tracking at 5.8%, which would be the fastest for a non-pandemic quarter in 20 years.
While economic growth drives corporate earnings, remember that the S&P 500 is not a replica of the U.S. economy.
Approval of a spot bitcoin exchange traded fund in the U.S. is one of the most widely anticipated and delayed events in the roughly three-decade history of the ETF industry.
Readers of this publication know the costs of an investment product reduce the net return and consider cost as an important criterion for selecting investments to make up client portfolios. But how do advisors define costs, and how important is cost reduction compared to other portfolio objectives?
Financial journalism has a problem. Apart from a few writers such as Michael Lewis, it is essentially bought and paid for by the financial industry itself – especially, investment management.
We expect inflation and rates to remain higher than the last decade. We favor tech within growth and cyclicals within value.
European banks are rightly being criticized for failing to pass on interest-rate increases to customers. But is it any wonder they’re so unafraid of losing business? Compared to their US counterparts, European financial institutions often face less competition from alternative cash-like investments.
Return to office mandates are growing, but workers are hesitant to give up flexibility.
How good are you at motivating your staff? Are they growing and learning? Are they consistently progressing?
Signs of slowing price pressures and wage growth have generated a lot of excitement about a soft landing for the US economy, where inflation glides back toward 2% without a painful recession.
As the 2023 earnings per share (EPS) recession narrative grows louder into the second half of the year, we expect the market to shift to discounting an EPS rebound. The best opportunities look to be in more economically sensitive and value sectors, which have been hit particularly hard this year.
Federal Reserve officials at their policy meeting in July largely remained concerned that inflation would fail to recede and that further interest-rate increases would be needed. At the same time, cracks in that consensus were also becoming more apparent.
For this edition of Bull vs. Bear, Elle Caruso and Karrie Gordon discuss the likelihood of continued strong returns for semiconductor ETFs.
Foreign stocks are again competitive with their domestic counterparts. Here are four ways to gain exposure.
There aren’t many bullion investors who haven’t thought about using their stash to buy groceries one day.
Here are two suggestions that can save you money or time, especially if content marketing is part of your strategy.
In a year of unpleasant surprises from China's economy, here's a development we should have foreseen: The central bank lowered interest rates. With growth disappointing and prices declining, Tuesday's easing from the People's Bank of China ought to have been a no-brainer.
Investors are the least pessimistic on stocks since February of last year, before the Federal Reserve began one of the most aggressive tightening cycles in decades, according to Bank of America Corp.’s latest global survey of fund managers.
It’s been an interesting first half of the year. Markets performed very well in the face of continued Fed tightening, calls for an imminent recession, a regional banking crisis, debt ceiling debate, and drama around an 11th-hour deal to avoid a default on U.S. debt.
Wars cost money, and throughout history, countries have borrowed to fight them. There are plenty of examples of wars bankrupting countries, but the US was so dominant in the 1940s that at the end of World War II, its debt only cost about 1.8% of GDP to service.
Investors are bailing out of the biggest exchange-traded fund devoted to Treasuries at the fastest pace since markets were hammered during the early months of the pandemic.
Unpacking the details of last week’s consumer price index report, the news was good: Inflationary pressure continues to slowly subside, while an economic “soft landing” — in which the Federal Reserve is able to stabilize prices without causing a recession — is starting to look more realistic.
Some couples may have what can be termed "faux" financial intimacy, where there is no tension or conflict because they avoid talking about money.
IUL is a popular investment, thanks to aggressive marketing. Before your clients succumb to high-pressure sales tactics, here’s a cautionary tale based on another lifetime purchase decision – buying an engagement ring.
The old playbook of selling emerging-market bonds when Treasury yields spike is being upended by the positive dynamics favoring developing-nation debt.
For the years following the Lehman crisis, the Fed put was the norm. Exceptionally loose monetary policy ensured risk assets had a safety net. But central banks were unable to rehabilitate the real economy while governments kept their belts tight.
Will the economy roll into a formal recession, or is a recovery underway? It's a close call.
Ten stocks have dominated US equity market gains for most of this year. But the rest of the market may be waking up. That’s good news for active managers who seek to tap diversified sources of long-term returns that can withstand challenging macroeconomic conditions.
Investors hammered Chinese assets and those of developing nations relying on its sustained growth a day after US President Joe Biden described the country’s economic woes as a “ticking time bomb.”
It could take just a 1% move in the S&P 500 — up or down — every day for a week for the rally in US stocks to come under significant pressure.
In 1949, the list of the country’s most affluent metropolitan areas was dominated by Midwestern industrial cities.
A key measure of US consumer prices rose only modestly for a second month, bolstering hopes that the Federal Reserve can tame inflation without sparking a recession.
The common currency has not led to common outcomes.
Twenty years ago, the answer to this question was obvious. Wirehouses had better technology compared to any other firm or affiliation model.
The reaction to Fitch Ratings’ recent downgrading of US government debt was more revealing than the announcement itself. Citing concerns about America’s long-term fiscal position and the risk that Washington’s political dysfunction could make matters worse, the company marked US debt down from AAA to AA+.
Bitcoin may be closer to bursting out of a period of unusually low volatility if chart patterns and the token’s history are any guide.
Investors are taking fright at commercial real estate risks in Sweden. But we think the situation is less threatening than feared.
Investors often conclude that they would have performed better by simply investing in the S&P 500 index rather than a well-diversified portfolio.
Advisors are increasingly turning to OCIOs to differentiate their firms, increase profitability and scale their businesses through gained efficiencies.
Berkshire Hathaway Inc. jumped to a record high after its Saturday earnings report showed an operating profit for the second quarter that exceeded Wall Street expectations.
Bulging sales of US Treasuries are about to deliver a major test of investor demand and determine whether a selloff has room to run, as the market braces for the biggest round of refunding auctions since last year.
Despite some improvements in corporate health, Global Macro Strategist Craig Burelle shares why he thinks companies are likely to experience more pain in the months to come.
Earnings season has thus far been a mixed bag, and despite a notable increase in the beat rate, the market is rightfully shifting focus to guidance for the rest of the year.
RIA Independence
Some Advisors Don’t Know What They Are Doing
Everyone has an opinion on how you should run your practice. Here is how to know which suggestions are worth following.
New and Creative Ideas for Holiday Gifts
What are some of the more unique gifts or events advisors are doing for clients?
Coaching Clients to Take Your Advice
As we know all too well, human beings are neither perfect nor consistently rational, especially when our hard-earned money is involved.
My Webinar Experience: How I Avoided the Big Mistakes
My previous webinars were sponsored by my clients. Everything was handled for me. With this one, I was entirely on my own.
Don’t Let Your Prospects Tell You What to Do
Could it be that your internal eagerness to comply with your prospect’s apparent requirements conveys a subservience that dissuades them from trusting you?
How Rebalancing Thwarts Achieving Retirement Goals
I show how the best way to utilize bonds in retirement is not to rebalance between stocks and bonds in retirement, but rather to draw down on the bond side of the portfolio first and let the portfolio drift towards a greater equity allocation.
Henry Kissinger on the Promise and Threats of AI
The Age of AI (And Our Human Future), by Henry Kissinger, Eric Schmidt, and Daniel Huttenlocher, is keenly relevant.
Breaking the Chains of Time
Investors should embrace a genuine long-term perspective, extending their time horizons to at least 20 to 30 years. The traditional notion of long-term investing (five to 10 years) may fall short of realizing the full benefits of long-term strategies.
VettaFi’s Advisor Perspectives Named Most Read E-Newsletter for Financial Advisors for Fifth Consecutive Year by Erdos Media Research
Advisor Perspectives, the premier digital publisher for the financial advisory profession and a recent addition to the fast-growing VettaFi lineup of research and educational offerings, today announced that it has been ranked as the most-read electronic newsletter among financial advisors for the fifth year in a row by Erdos Media Research’s Financial Advisor Media Outlook and Usage Study (FAMOUS).
The Insider's Guide to Transition
Are you curious about what a transition in the digital age truly entails? My guest, Lizzie Warner, and I will step inside the world of broker-dealer/RIA transitions and unveil the timeline and milestones of these transformations. We want this to be your gateway to making your move smoother and more accessible than ever before.
Lizzie Warner, vice president of transition and strategic acquisitions at Cambridge, shares her insights and stories from guiding countless financial advisors through this pivotal change.
Lizzie will also introduce Cambridge's complimentary resource, “Asking the Right Questions of Your Next Transition Team.”
Securities Industry to DOL on Fiduciary: We’re Perfect, Leave us Alone
Fiduciary duties are either unneeded or harmful, according to the opponents of the DOL rule. In their view, the finance and insurance industries have already achieved perfection.
Ask Brad: How Much Cash Do You Need to Transition to an RIA?
A cash cushion is needed not just for initial startup costs but for peace of mind as you leave your firm, move clients over and reestablish revenue.
Ex-Cantor Executives Start Lending Platform for Anticipated Spot Bitcoin ETFs
Several ex-Cantor Fitzgerald executives started a crypto lending platform with the expectation that it will serve operators of spot Bitcoin exchange-traded funds once they gain US regulatory approval.
How to Improve Zoom Engagement
A recent study found significant differences in how our brains process in-person meetings and Zoom calls versus in-person meetings.
A Birthday Reflection – Five Life Lessons
I’ll share some important insights gleaned from many decades of working in the advisory profession and being both an insider and an outsider.
New Insights on High-Net-Worth Philanthropy
Here are six key trends for HNW donors to consider during your giving season conversations.
Building and Engaging Your LinkedIn Network
User engagement is up on LinkedIn. How can you capitalize on it? Here are six steps to cultivate a LinkedIn network.
Debt Scores
Identifying problems is great. Identifying solutions is even better, especially when the politicians who are supposed to be solving our big problems don’t even try.
Financial Life Planning: A Job, a Career, or a Calling?
Is the work you do to make a living a job, a career, or a calling? Recognizing the difference will pay great dividends in many ways.
Fiduciary Advice in the Age of “No Guardrails”
Fiduciary September just concluded. To generate further awareness, my organization, the Institute for the Fiduciary Standard, produced eight panels with 22 speakers.
Venerated Voices™ Q3 2023 Rankings
Advisor Perspectives has announced its Venerated Voices™ awards for commentaries published in Q3 2023.
A Bit About Bob
Last week, Bob attended the Insider’s Forum in San Antonio last week - a gathering of several hundred financial planners that focused on the latest research in practice management and other topics for the advisory profession.
Consumer Sentiment Doesn’t Matter
When you see articles and posts about the Michigan Consumer Sentiment Index, ignore them.
Long-Horizon Investing, Part 3: The Riskiness of "Low-Risk" Assets
In investing, you can have a safe present or future value, but not both!
The Big Cycle
One mark of true brilliance is the ability to make complex ideas seem simple. I think this is why so many of us fondly remember our early schoolteachers.
How to Deliver an Indispensable Client Experience Through Independence
Successful businesses know excellent service. Giving yourself time to truly get to know your clients’ needs and then setting your business up to optimize how you serve them is key to establishing long-term relationships. If you’re working at a wirehouse, this isn’t always possible. It’s time to find the right business structure—one that gives you the freedom to work with your clients your way.
Lessons From a Lost Wedding Ring
I always talk about how powerful social media is. Let me tell a story that proves it.
Gen Z and Personal Finance: Perspectives of Someone Who Was Only Six in 2008
Many Americans believe that Gen Z is financially illiterate and uninformed. But the story is not that simple.
The Mystery Behind SECURE 2.0 and Partial Annuitization
SECURE 2.0 contained a provision that gave favorable treatment to partial annuitization. The reason you haven’t heard about this is because those transactions cannot increase commissionable income.
Feelings about Student Loan Forgiveness are Complicated
As with so many other financial matters, the varying opinions around student loan debt forgiveness are more about emotions than dollars.
Why Are Elephants So Smart and Buildings So Short?
We can and are building much taller skyscrapers. But they are impractical money losers because so much floor space is taken up by elevators. A new book explains the interplay between size and scale, and what it means for our economy and investments.
Newsletter - September 2023
We hope you enjoy the latest Newsletter from Harold Evensky.
Ask Brad: What Can a Wirehouse Broker Learn from a Car Salesperson?
Deride the tactics of car salespeople all you wish, but their primary sales tool shows just how much brokers pay their employers.
The Top Five Hybrid Work Mistakes
Improve your own and your firm’s productivity by sidestepping these top five hybrid work mistakes.
Boost Client Engagement and Growth with Webinars
To widen your audience, deepen client bonds, and carve out a strong market presence, a webinar strategy is your ticket to success.
I Hired My Sons. It Isn’t Working
I’m finding it hard to reconcile this.
Tailoring Advice for the Elderly Brain
For financial advisors, an appreciation of these changes fosters more profound empathy with older clients and fine-tunes their strategies.
Be Politely Skeptical with Prospects
Your prospects often don’t tell you everything you need to know to assess the depths of their problems, because they can’t articulate the context behind their surface-level description of their issues.
How Pre-Screening Avoids “Plate Lickers” at Seminars
Have you ever wondered why your closing ratio on seminar attendees rarely exceeds 40%?
What's in My Personal Portfolio?
Today, I am going to do something that I've never done. I am going to start a two-part series describing what is in my personal portfolio and why. Let me start by offering two caveats: This letter is in the “do as I say and not as I do” category.
Breaking Down the Breakout in Oil
Oil has entered a new uptrend after finally breaking out from nearly a year-long bottom formation. Support from OPEC+, notably Saudi Arabia’s one million barrel per day production cut for the remainder of the year, has been a major driver of the rally.
Massachusetts Scores a Victory for Fiduciary Advice
On August 25, Massachusetts’ highest court shocked the investment world by unanimously ruling against Robinhood and for the state’s fiduciary rule. Robinhood must change its ways to remain in business.
Reshoring Is Real
Supply chains are realigning, to China's dismay.
Where is the Economy?
What’s going on with the markets and the economy? Long-term Treasury yields are up substantially since last Fall while the stock market, after a big rally, has stumbled so far this month. Meanwhile, the real economy appears to continue to chug along – even accelerating!
Assessing the Recession Risk: Interpreting Key Economic Indicators
With the Fed’s tightening on monetary policy and the constant threat of a recession looming, policymakers and advisors are closely monitoring economic indicators because the data can ultimately impact business decisions and financial markets.
Rethinking TINA: The Emerging Eight
The role of the human psychological cycle in driving stock and bond prices is well
understood and pre-dates behavioural economics. There are elements that suggest we may
be going through another period of ‘irrational exuberance’ as several long-term investors
seem stuck in the mindset that ‘There Is No Alternative’ (TINA) to US equities.
Bruised Stocks Face Week Full of Tests, From Nvidia to Powell
Equity traders reeling from the market’s worst stretch since February face some pivotal events in the days ahead, and a closely watched speech by Federal Reserve Chair Jerome Powell may not even be the biggest test of all.
The US Economy Can't Sustain Its Red-Hot Pace, Right?
Halfway through the third quarter, the economy is looking surprisingly strong. A tracker from the Atlanta branch of the Federal Reserve has real gross domestic product growth, based on the limited data we've gotten so far, tracking at 5.8%, which would be the fastest for a non-pandemic quarter in 20 years.
Five Key Takeaways From Q2 Earnings Season
While economic growth drives corporate earnings, remember that the S&P 500 is not a replica of the U.S. economy.
Experts Still Projecting Big Bitcoin Rally on ETF Approval
Approval of a spot bitcoin exchange traded fund in the U.S. is one of the most widely anticipated and delayed events in the roughly three-decade history of the ETF industry.
Why Minimizing the Costs of Investment Products Must be a Priority
Readers of this publication know the costs of an investment product reduce the net return and consider cost as an important criterion for selecting investments to make up client portfolios. But how do advisors define costs, and how important is cost reduction compared to other portfolio objectives?
Financial Journalism Fails its Readers
Financial journalism has a problem. Apart from a few writers such as Michael Lewis, it is essentially bought and paid for by the financial industry itself – especially, investment management.
Higher for Longer: Adapting Stock Selection for Higher Inflation/Rates
We expect inflation and rates to remain higher than the last decade. We favor tech within growth and cyclicals within value.
European Banks Aren't Helping Your Savings
European banks are rightly being criticized for failing to pass on interest-rate increases to customers. But is it any wonder they’re so unafraid of losing business? Compared to their US counterparts, European financial institutions often face less competition from alternative cash-like investments.
The Great Remote Work Debate
Return to office mandates are growing, but workers are hesitant to give up flexibility.
How to Develop Superstars
How good are you at motivating your staff? Are they growing and learning? Are they consistently progressing?
UPS Drivers Deliver a Message to the Federal Reserve
Signs of slowing price pressures and wage growth have generated a lot of excitement about a soft landing for the US economy, where inflation glides back toward 2% without a painful recession.
Large Cap Value Outlook for Q3 2023
As the 2023 earnings per share (EPS) recession narrative grows louder into the second half of the year, we expect the market to shift to discounting an EPS rebound. The best opportunities look to be in more economically sensitive and value sectors, which have been hit particularly hard this year.
Fed Saw ‘Significant’ Inflation Risk That May Merit More Hikes
Federal Reserve officials at their policy meeting in July largely remained concerned that inflation would fail to recede and that further interest-rate increases would be needed. At the same time, cracks in that consensus were also becoming more apparent.
Bull vs. Bear: Can Semiconductor ETFs Maintain Their Return Trajectory?
For this edition of Bull vs. Bear, Elle Caruso and Karrie Gordon discuss the likelihood of continued strong returns for semiconductor ETFs.
4 Ways to Invest Internationally
Foreign stocks are again competitive with their domestic counterparts. Here are four ways to gain exposure.
Can Gold and Silver Ever Return to Circulation?
There aren’t many bullion investors who haven’t thought about using their stash to buy groceries one day.
Turbo-Charge Your Content Marketing with AI
Here are two suggestions that can save you money or time, especially if content marketing is part of your strategy.
The China Surprise We Should Have Seen Coming
In a year of unpleasant surprises from China's economy, here's a development we should have foreseen: The central bank lowered interest rates. With growth disappointing and prices declining, Tuesday's easing from the People's Bank of China ought to have been a no-brainer.
Investors Least Bearish on Stocks Since Pre-Fed Hikes, BofA Says
Investors are the least pessimistic on stocks since February of last year, before the Federal Reserve began one of the most aggressive tightening cycles in decades, according to Bank of America Corp.’s latest global survey of fund managers.
Navigating Market Uncertainties
It’s been an interesting first half of the year. Markets performed very well in the face of continued Fed tightening, calls for an imminent recession, a regional banking crisis, debt ceiling debate, and drama around an 11th-hour deal to avoid a default on U.S. debt.
An Age of Fiscal Limits
Wars cost money, and throughout history, countries have borrowed to fight them. There are plenty of examples of wars bankrupting countries, but the US was so dominant in the 1940s that at the end of World War II, its debt only cost about 1.8% of GDP to service.
Biggest Treasury ETF Sees Largest Exodus Since 2020 Meltdown
Investors are bailing out of the biggest exchange-traded fund devoted to Treasuries at the fastest pace since markets were hammered during the early months of the pandemic.
Beating Inflation Might Still Need Higher Rates
Unpacking the details of last week’s consumer price index report, the news was good: Inflationary pressure continues to slowly subside, while an economic “soft landing” — in which the Federal Reserve is able to stabilize prices without causing a recession — is starting to look more realistic.
Do Clients Suffer from “Faux” Financial Intimacy?
Some couples may have what can be termed "faux" financial intimacy, where there is no tension or conflict because they avoid talking about money.
What Insurance Agents Don’t Tell You About Indexed Universal Life (IUL)
IUL is a popular investment, thanks to aggressive marketing. Before your clients succumb to high-pressure sales tactics, here’s a cautionary tale based on another lifetime purchase decision – buying an engagement ring.
Emerging Bonds Disrupt Playbook by Rallying as Treasuries Swoon
The old playbook of selling emerging-market bonds when Treasury yields spike is being upended by the positive dynamics favoring developing-nation debt.
The Growing Apprehension of the Inflating Fiscal Put
For the years following the Lehman crisis, the Fed put was the norm. Exceptionally loose monetary policy ensured risk assets had a safety net. But central banks were unable to rehabilitate the real economy while governments kept their belts tight.
Schwab Market Perspective: On the Line
Will the economy roll into a formal recession, or is a recovery underway? It's a close call.
Broader Horizons? More Stocks Help Fuel US Market Gains
Ten stocks have dominated US equity market gains for most of this year. But the rest of the market may be waking up. That’s good news for active managers who seek to tap diversified sources of long-term returns that can withstand challenging macroeconomic conditions.
Emerging Markets Cap Week of Selling Everything With China Link
Investors hammered Chinese assets and those of developing nations relying on its sustained growth a day after US President Joe Biden described the country’s economic woes as a “ticking time bomb.”
A Week of 1% Moves on the S&P 500 Could Trigger Forced Selling
It could take just a 1% move in the S&P 500 — up or down — every day for a week for the rally in US stocks to come under significant pressure.
Income Ladder Is Difficult to Climb for US Metro Areas
In 1949, the list of the country’s most affluent metropolitan areas was dominated by Midwestern industrial cities.
US Core CPI Posts Smallest Back-to-Back Increases in Two Years
A key measure of US consumer prices rose only modestly for a second month, bolstering hopes that the Federal Reserve can tame inflation without sparking a recession.
Economic Divergence in Europe
The common currency has not led to common outcomes.
Ask Brad: Do Broker/Dealers or RIAs Have Better Technology?
Twenty years ago, the answer to this question was obvious. Wirehouses had better technology compared to any other firm or affiliation model.
Maybe Fitch Had a Point After All?
The reaction to Fitch Ratings’ recent downgrading of US government debt was more revealing than the announcement itself. Citing concerns about America’s long-term fiscal position and the risk that Washington’s political dysfunction could make matters worse, the company marked US debt down from AAA to AA+.
Bitcoin Flashes Signals of Possible Spike in Volatility After Historic Lull
Bitcoin may be closer to bursting out of a period of unusually low volatility if chart patterns and the token’s history are any guide.
Will Sweden’s Woes Shake Europe’s Real Estate Markets?
Investors are taking fright at commercial real estate risks in Sweden. But we think the situation is less threatening than feared.
The Ups And Downs Of The S&P 500
Investors often conclude that they would have performed better by simply investing in the S&P 500 index rather than a well-diversified portfolio.
Partnering With an Insourced CIO Can Serve as a Launchpad for Growth
Advisors are increasingly turning to OCIOs to differentiate their firms, increase profitability and scale their businesses through gained efficiencies.
Buffett’s Berkshire Rallies to Record High on Earnings Beat
Berkshire Hathaway Inc. jumped to a record high after its Saturday earnings report showed an operating profit for the second quarter that exceeded Wall Street expectations.
Treasury Auction Deluge Set to Test Investors’ Appetite for Debt
Bulging sales of US Treasuries are about to deliver a major test of investor demand and determine whether a selloff has room to run, as the market braces for the biggest round of refunding auctions since last year.
Corporate Health: Signs of Improvement, but Vulnerabilities Remain
Despite some improvements in corporate health, Global Macro Strategist Craig Burelle shares why he thinks companies are likely to experience more pain in the months to come.
Don't Let Me Down: An Earnings Season Update
Earnings season has thus far been a mixed bag, and despite a notable increase in the beat rate, the market is rightfully shifting focus to guidance for the rest of the year.