Category: Analysis

Analysis

Reverse Engineering the Met’s Bobby Bonilla Deal

Market Expert Jul 2, 2026

Funny story: I was supposed to have Bobby Bonilla on Masters in Business, but it did not come to pass.1 That was a shame, because Bobby Bonilla Day is a fascinating cautionary tale about hubris, fraud, misunderstanding risk, and all sorts of other amusing and fun BeFi issues. I went deep down the rabbit… Read More The post Reverse Engineering the Met’s Bobby Bonilla Deal appeared first on The Big Picture.

Analysis

Private Fund Due Diligence: A Checklist For Reviewing Governing Documents And Operational Controls

Market Expert Jul 2, 2026

For most of our history, the domain of the financial advisor has been helping clients to invest their savings in publicly traded stocks and bonds that create opportunities for long-term growth, in order to achieve clients' retirement and other savings goals. While the particular vehicles have changed over time – from individual securities, to mutualRead More... The post Private Fund Due Diligence: A Checklist For Reviewing Governing Documents And Operational Controls first appeared on Kitces.com.

Analysis

Transcript: Carl Richards on Sketching Wealth Strategy

Market Expert Jul 1, 2026

The transcript from this week’s MiB: Carl Richards on Sketching Wealth Strategy, is below. You can stream and download our full conversation, including any podcast extras, on Apple Podcasts, Spotify, YouTube (video), YouTube (audio), and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~ Carl… Read More The post Transcript: Carl Richards on Sketching Wealth Strategy appeared first on The Big Picture.

Analysis

Stablecoin Crash?!

Market Expert Jun 30, 2026

Cointelegraph: “Decentralized finance platform Abracadabra said Wednesday that it launched emergency measures after its crypto-collateralized stablecoin, Magic Internet Money (MIM), fell 50% below its $1 peg.” I have spent a lot of time vacillating between being Blockchain-Curious and Crypto-Skeptical. As an exercise, let’s consider the pros- and cons- of Stablecoins, and whether there… Read More The post Stablecoin Crash?! appeared first on The Big Picture.

Analysis

How I Built A Custom AI Agent For My RIA – And What It’s Changing About How We Work

Market Expert Jun 30, 2026

One of the biggest challenges in scaling up an advisory firm beyond the founder is figuring out how to ensure that all the new and future team members of the firm will deliver advice consistent with the founder's approach. Historically, this has meant training advisors largely through osmosis; associate advisors were expected to be partRead More... The post How I Built A Custom AI Agent For My RIA – And What It’s Changing About How We Work first appeared on Kitces.com.

Analysis

Lessons Learned From Building A $60B Advisory Enterprise: #FASuccess Ep 496 With Shannon Eusey

Market Expert Jun 30, 2026

Welcome everyone! Welcome to the 496th episode of the Financial Advisor Success Podcast! My guest on today's podcast is Shannon Eusey. Shannon is the chairman and co-founder of Beacon Pointe Advisors, an RIA based in Newport Beach, California, that oversees $62 billion in assets under management for 25,000 client households. What's unique about Shannon, though,Read More... The post Lessons Learned From Building A $60B Advisory Enterprise: #FASuccess Ep 496 With Shannon Eusey first appeared on Kitces.com.

Analysis

Comedy Is Hot

Market Expert Jun 29, 2026

So I’m looking through the midyear issue of “Pollstar” and there’s a chart for “Venues With Capacities Of 5,000 Or Less.” Now if you’re a dedicated follower of the main “Pollstar chart (if not fashion), you know it tends to be dominated by the usual suspects, mostly acts with years under their belts, playing… Read More The post Comedy Is Hot appeared first on The Big Picture.

Analysis

MiB: Carl Richards on Sketching Wealth Strategy

Market Expert Jun 28, 2026

This week, I speak with Carl Richards, author of “Your Money: Reimagining Wealth in Simple Sketches“. They discuss Carl’s unlikely start in finance and building his own firm. Carl also breaks down how one sketch helped him translate wealth management and become a New York Times columnist. We discuss how his career… Read More The post MiB: Carl Richards on Sketching Wealth Strategy appeared first on The Big Picture.

Analysis

Stablecoin Crash?

Market Expert Jun 27, 2026

Analysis

Weekend Reading For Financial Planners (June 27–28)

Market Expert Jun 27, 2026

Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that a recent study from The Ensemble Practice finds that while surveyed advisory firms posted profit margins in excess of 38% for fiscal year 2025 (a figure up nearly 15 percentage points over the past decade),Read More... The post Weekend Reading For Financial Planners (June 27–28) first appeared on Kitces.com.

Analysis

When Clients Would Rather Feel More Financially Successful Than Take Action To BE More Successful: Kitces & Carl 193

Market Expert Jun 26, 2026

Helping clients become more financially successful is a multi-faceted process, but much of it ultimately comes down to implementation. The challenge is that for clients (and advisors themselves!), "implementation" is more than 'just' point-and-go, where a direction is determined, then everyone executes perfectly. Instead, motivating clients towards action requires multiple steps of goal-setting, then dissectingRead More... The post When Clients Would Rather Feel More Financially Successful Than Take Action To BE More Successful: Kitces & Carl 193 first appeared on Kitces.com.

Analysis

At The Money: Do Agricultural Commodities Belong in Your Portfolio?

Market Expert Jun 25, 2026

At The Money: Do Agricultural Commodities Belong in Your Portfolio?, with Sal Gilbertie, Teucrium (June 24, 2026) Looking for a non-correlated trading vehicle that is also a hedge against inflation? Perhaps Agricultural ETFs are a potential for your portfolio. Full transcript below. ~~~ About this week’s guest: Sal Gilbertie began trading agricultural and… Read More The post At The Money: Do Agricultural Commodities Belong in Your Portfolio? appeared first on The Big Picture.

Analysis

Transcript: Seth Klarman, The Baupost Group

Market Expert Jun 24, 2026

The transcript from this week’s MiB: Seth Klarman, The Baupost Group, is below. You can stream and download our full conversation, including any podcast extras, on Apple Podcasts, Spotify, YouTube (video), YouTube (audio), and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~ MASTERS… Read More The post Transcript: Seth Klarman, The Baupost Group appeared first on The Big Picture.

Analysis

The (Unexpected) Registration Responsibilities When Engaging In Paid Referrals

Market Expert Jun 24, 2026

As part of a broader marketing strategy, RIAs might work with "solicitors" or "promoters" (e.g., accountants, online advisor matching platforms, and compensated bloggers) who refer prospective clients in exchange for compensation. While the SEC's Marketing Rule sets forth rules requiring RIAs to disclose their compensation arrangements with any paid promoters and the potential conflicts theyRead More... The post The (Unexpected) Registration Responsibilities When Engaging In Paid Referrals first appeared on Kitces.com.

Analysis

Scaling To $3.5M Of (Flat-Fee) Revenue By Leaning Into A Unique Retirement Income Approach: #FASuccess Ep 495 With Bradley Clark

Market Expert Jun 24, 2026

Welcome everyone! Welcome to the 495th episode of the Financial Advisor Success Podcast! My guest on today's podcast is Bradley Clark. Bradley is the founder of Clark Asset Management, an RIA that operates remotely and oversees $1.6 billion in assets under management for 340 client households. What's unique about Bradley, though, is how he hasRead More... The post Scaling To $3.5M Of (Flat-Fee) Revenue By Leaning Into A Unique Retirement Income Approach: #FASuccess Ep 495 With Bradley Clark first appeared on Kitces.com.

Analysis

Euphoria Has Taken Over The Markets — ft. Barry Ritholtz

Market Expert Jun 23, 2026

I had fun talking with Scott and Ed about the market’s reaction to the SpaceX IPO, including whether the valuation is justified, and why I pay attention to the company’s float. We also discuss why I find the comparisons to the dot-com bubble misguided, what to make of the circular deals in the… Read More The post Euphoria Has Taken Over The Markets — ft. Barry Ritholtz appeared first on The Big Picture.

Analysis

Real Equity, Real Buy-In: A Practical Framework For Offering Equity Ownership

Market Expert Jun 23, 2026

Many financial advisory firms start out with a single founder – in part because, early on, the founder might also be the only employee. Over time, as the firm grows in terms of clients, revenue, and team members, the founder may consider opening up ownership opportunities to employees, whether to reward key team members, fosterRead More... The post Real Equity, Real Buy-In: A Practical Framework For Offering Equity Ownership first appeared on Kitces.com.

Analysis

Epic Road Trip

Market Expert Jun 22, 2026

This past Spring, I had about 6 weeks of mad travel. Especially so, for someone who isn’t much of a road warrior. But my travels were nothing compared to my buddy Marshall’s. My spring fling looked something like this: -Grand Cayman (5 days; last minute getaway from NY winter) -FutureProof Miami -La Jolla,… Read More The post Epic Road Trip appeared first on The Big Picture.