The Latest Developments in Direct Indexing
Direct indexing is the most powerful trend sweeping through the advisory profession. When done right, it lets clients build low-cost, tax-efficient, and highly customized portfolios. Those portfolios can track a broad market index or implement a factor-based strategy. They can follow an ESG or sustainability mandate. Here to discuss the latest developments in the direct indexing world are two members of Envestnet’s management team.
The CFP Board is Confusing and Misleading Consumers
The CFP Board has strayed from its mission of improving life for the consumer. Instead, it is generating as much confusion as possible for the furthering of its own interests. Make no mistake – transparency is not on its agenda. This is a massive disservice to the public.
US Retirement Legislation And Regulation Bulletin: Third Quarter 2022
On August 16th, President Joe Biden signed the Inflation Reduction Act into law, ending months of uncertainty over whether congressional Democrats would ever reach agreement on a compromise budget reconciliation bill.
Now Comes the Hard Part
Surveying the current condition of the financial markets, we presently observe a combination of still historically-extreme valuations, rising yet still only normalizing interest rates, measurably inadequate risk-premiums in both equities and bonds, and ragged, unfavorable market internals, suggesting continued risk-aversion among investors.
Real Disposable Income Per Capita Creeps Up in August
With the release of this morning's report on August's Personal Incomes and Outlays, we can now take a closer look at "Real" Disposable Personal Income Per Capita. At two decimal places, the nominal 0.33% month-over-month change in disposable income comes to 0.05% when we adjust for inflation. This is generally a decrease from last month's 0.31% nominal and 0.42% real change. The year-over-year metrics are 1.19% nominal and -4.76% real.
The Big Four: Real Personal Income in August
Personal Income (excluding Transfer Receipts) in August rose 0.35% and is up 6.8% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, Real Personal Income (excluding Transfer Receipts) MoM was up 0.07%. The real number is up 0.6% year-over-year.