The share of outstanding US consumer debt that’s in delinquency rose in the first quarter to the highest in five years, reflecting an end to the pandemic-era pause on reporting delinquent student loan payments on credit reports.
Trying to grow a stable team of advisors & retain top talent? Young advisors are seeking RIA firms offering, e.g., remote work flexibility
It can be tempting to react when someone at work criticizes you at work, but take some time to consider the issue before you do.
Commonwealth Financial Network®, a national RIA dedicated to providing financial advisors with holistic, integrated business solutions, has initiated a new partnership with Messina College, a two-year, all-residential degree program of Boston College that welcomed its first-ever class of students to the school’s Brookline Campus last summer.
The early-April announcement of a broad new round of tariffs against virtually all U.S. trading partners—followed by a pause for many of them—has triggered a tidal shift in the global economy. Uncertainty created by tariff negotiations, as well as burgeoning federal debt levels and other ongoing concerns, has far-reaching economic implications, leading us to reassess our 2025 outlook.
For my entire decades-long career in capital markets, I’ve made the case that gold is not just a shiny relic of the past, but a serious, strategic asset for modern investors. After years of pounding the table, it feels pretty good to say that the world’s central banks—and now the U.S. banking system—are finally catching up.
Chief Economist Eugenio J. Alemán discusses current economic conditions.
I’ve been writing about tariffs for a couple of months now, focusing mostly on the macroeconomic harm and the costs they impose on small businesses. Today I want to consider something else: the new risks they are adding to the financial system alongside the old risks.
Warren Buffett opened his 60th—and final as CEO—Berkshire Hathaway annual meeting with the same understated clarity that has defined his career: "This is my 60th annual meeting... I think it'll be the best yet."
Bonds and stocks falling together stirs painful memories of the 2022 inflation surge. This time, trade and tariff uncertainty is to blame, along with a dose of questioning the Fed’s independence.
China drove the surge in retail investment demand, charting the second strongest quarter on record.
Preparing for retirement involves more than finances and should include a focus on health, wellbeing and goals. Our Mike Dullaghan explains why it’s important to start preparing 10 years ahead of retirement.
The Federal Reserve held rates steady today, while emphasizing that elevated uncertainty has clouded the path forward. If, when, and how much tariff policy will change in the months to come will play a large part in dictating the next move for the Fed.
Even though Warren Buffett is 94 and decades past the average retirement age, the end of his run as CEO of Berkshire Hathaway Inc. was always going to come as a shock.
In my team, we implement a concept called ARTICA, which I created a number of years ago . ARTICA is a step-by-step process to help you deal with the difficult conversations that might otherwise feel daunting,
Sam Altman’s reputation for spin was out in full force this week in a published “letter to employees” announcing that he was abandoning plans to turn OpenAI into a for-profit company. Instead, it will “continue to be overseen and controlled” by its nonprofit board.
It was a glimpse of a very appealing future: A sleek 18-wheeler powered by Aurora Innovation Inc. trundled down Interstate 45 from Dallas to Houston last week with a trailer full of goods and a completely empty cab. At long last, autonomous trucking may have arrived.
April's employment report showed that 82.6% of total employed workers were full-time (35+ hours) and 17.4% of total employed workers were part-time (<35 hours).
With investors experiencing heightened anxiety about their financial futures, your approach can make the difference between client retention and attrition. This comprehensive guide from our senior consultants explores actionable strategies for effective client communication during market volatility.
After months of public pressure, OpenAI walked back part of its effort to create a more conventional for-profit company, but its restructuring plans still have not received the blessing of a major stakeholder: Microsoft Corp.
You’ve built your book. Refined your process. You know how to serve clients and grow your business. But what if your current firm is acting like an outdated piece of equipment? One that doesn’t match how you actually operate? One that limits what’s possible?
Lightspeed Venture Partners, one of Silicon Valley’s largest venture capital firms, has changed its regulatory status to broaden its range of investments — following similar moves by Sequoia Capital, Andreessen Horowitz and General Catalyst as they shift away from the traditional VC playbook.
Businesses may face challenges but there are also a number of tax-smart strategies that can help mitigate tax liability and enhance efficiency. Our Bill Cass discusses several tax-smart strategies to consider.
SEI® (NASDAQ:SEIC) today announced that Summit Wealth Group, a fast-growing enterprise advisor practice, has selected SEI to support the firm’s vision and evolution for strategic growth.
After the U.S. imposed substantial tariffs on China, Beijing responded with tariffs of its own and with restrictions on exports of seven rare earth minerals. The latter action will be a particular hindrance to American manufacturers.
Operating as a one-person shop means you’ll wear many hats, but there are common pitfalls you can avoid — and marketing strategies that can help you make the most of your time and resources.
Right now, you don’t want to burn any bridges anywhere, as you don’t know how things will unfold. Be professional and be kind. But you also have every right to set boundaries and to protect yourself!
Citadel Securities is urging the Securities and Exchange Commission’s new leadership to examine a list of what it argues are emerging and mounting risks, including opaque trading in so-called private rooms and the push by US stock markets to operate around the clock.
American leaders are now engaged in an effort to reverse the loss of manufacturing. The hope is to restore a path to prosperity for struggling regions and their residents. Tariffs are being employed liberally as a means to this end.
Private equity firms are scouring for investment opportunities in European defense, chasing the once shunned sector in an effort to benefit from a historic switch to military expansion in the region.
Five pivotal U.S. economic considerations, including tariffs, monetary policy, fiscal policy, debt overhang, and demographics, are aligning to depress economic growth for the balance of this year and into 2026.
U.S. policy uncertainty and the ebbs and flows of AI advancement are likely to stoke continued volatility in the world’s stock markets.
Tesla Inc. reported abysmal numbers for the first quarter on Tuesday evening. Naturally, Chief Executive Officer Elon Musk kicked off the call with a discussion on why he must fix America’s finances, facing down an army of alleged moochers.
A group of ETF traders are betting against a spirited rebound in the stock market, as they pay up for short positions and withdraw money from bullish strategies.
I’m not someone who believes you should let offensive things go by. Look for your opportunity and be ready!
Kestra Private Wealth Services (Kestra PWS), a registered investment adviser subsidiary of Kestra Financial, Inc., today announced it has welcomed Turas Wealth Partners (Turas), a wealth management firm led by father-son duo John and Shea Marmion, to its platform.
For financial advisors, moving to independence and an RIA means navigating a sea of decisions, including business model types and vision.
Andrew Leigh is a very good storyteller, making “How Economics Explains the World” an easy and fun read. In the hands of someone unfamiliar with basic economic reasoning, it might lead them to pursue economics further. Even if you’re farther along in your economic education, we almost always benefit from relearning things we already know, but in a new light.
In general, European countries have infused so much socialism and regulation into their economies that their economic growth has lagged behind the U.S. As a result, their GDP per capita is a third lower than in the U.S.
In nominal terms, the yellow metal set multiple new all-time highs this week, exceeding $3,300 an ounce for the first time ever on Wednesday. And on an inflation-adjusted basis, gold also notched a new record price, surpassing the longstanding record set in 1980.
LPL Financial LLC announced today that financial advisor Steve Jones of Tenacity Investment Group has joined LPL Financial’s broker-dealer, Registered Investment Advisor (RIA) and custodial platforms.
As you position your practice for long-term success, keeping on top of the latest trends and ideas is critical.
It’s always an honor for me to both attend and speak at the Barron’s conference. In thinking about this column, I am recalling many of the amazing presentations, great insights and fabulous speakers I heard.
The announcement that LPL Financial will acquire Commonwealth Financial Network marks another major shift in the wealth management landscape—and presents a pivotal career moment for Commonwealth’s nearly 2,900 financial advisors.
The reciprocal reprieve does not alter the tectonic shift in the trade outlook.
Portfolio rebalancing helps advisors uncover a new investment plan of action that aligns with a client's long-term financial milestones. It also considers how the current market will impact asset diversification.
Between raising and lowering tariffs on imported goods, President Donald Trump made time last week to sign an executive order aimed at reviving America’s “beautiful clean coal industry.”
The American consumer is tapped out. The savings buffer is gone, wage growth is declining, and credit costs are rising. Corporate America is already adjusting to this new reality, with companies issuing cautious guidance for 2025.
Commodity markets face uncertainty from tariffs, global growth risks and geopolitics, but may show resilience. Tight supply and global stimulus support a constructive long-term outlook.
Morgan Stanley’s willingness to stick it out with Elon Musk is giving its first-quarter results a healthy boost.
Many people who are not interested in seeing anything about their own behavior that is causing a problem. They either have over-developed egos, or a lack of confidence so deep it is threatening to find an area of opportunity for change.
An enduring image from 2024 will be the capture of the SpaceX booster rocket by the Mechazilla robot arms on its return to Earth.
President Donald Trump’s trade war has US stocks on track to enter their first bear market since the Covid pandemic.
Good news: Tariffs will not make the world end. American businesses will do what they do best, which is adapt. While the probability of a recession has increased, we always get through it and the best businesses thrive. Unless directly affected by tariffs, don’t change your personal plans that much.
To most people, black gold means oil, the substance that helped build the modern world while causing the climate crisis. But a new treasure on the market is getting prospectors excited, not least for the role it could play in fixing the problem fossil fuels created.
U.S. indexes suffered their worst day since the pandemic, hurt by Trump's massive tariffs that sparked recession fears. Almost every sector fell, with retailers and tech hard hit.
Runway AI Inc. has raised $308 million in a new round of funding that more than doubles the company’s valuation — a sign of investor enthusiasm for startups building artificial intelligence software that can generate videos.
Investors face new challenges as their wealth grows. So it’s a good thing that direct indexing is designed to fit their allocations just the way they are.
In this column, I’ll share some marketing secrets I’ve seen work well, whether you are trying to do lead gen or whether you are in a “finals” situation competing against other advisors, or whether you are talking with a prospect in your office.
On Monday, OpenAI announced $40 billion in new financing, the largest funding round in history, and one that nearly doubled the artificial intelligence company’s valuation to $300 billion.
Investors often debate the merits of value versus growth investing, but when it comes to developed international equities, the conversation isn't static; it moves in cycles.
It’s not just America and Europe that fear the competitive threat from Chinese clean technology. China itself is scared.
EQT AB has raised €21.5 billion ($23.2 billion) for its latest infrastructure fund — a sum a top executive for the Swedish investment firm says underscores how the energy sector’s funding needs trump an uncertain market for deals.
US President Donald Trump’s focus on “reciprocal tariffs,” rather than balanced trade, does not suggest that his administration intends to use tariffs strategically to cut the country’s chronic trade deficit. But Democrats must stop dismissing outright a policy tool that they themselves embraced under Biden.
The global economy is undergoing an unprecedented wave of industrial and infrastructure expansion, driving relentless demand for commodities across energy, metals and agriculture.
The parallels between the AI narrative driving the current market and the dot-com bubble of a quarter century ago raise important concerns for investors.
The Chicago Fed's National Activity Index is a monthly indicator designed to gauge overall economic activity and related inflationary pressure. It is a composite of 85 monthly indicators across four broad categories. The CFNAI is a forward-looking indicator that suggests how the economy will likely look in the near term and has been called one of the "most important and overlooked economic numbers". The index is constructed so a zero value for the index indicates that the national economy is expanding at its historical trend (average) rate of growth. Negative values indicate below-average growth, and positive values indicate above-average growth.
As policy uncertainty grows, we consider how tariffs and other government actions might impact inflation, interest rates, and market sentiment.
Life’s challenges often force us to become more present, to experience each moment fully. In doing so, I discovered the importance of celebrating small victories – not just the major milestones, but the everyday wins that mark progress.
I suspect many people yawned when the popular online brokerage Robinhood Markets Inc. announced it will offer sports and other prediction market derivatives, starting with betting on the NCAA March Madness basketball games.
Emerging markets offer the potential for long-term diversified investment returns but they can endure challenging periods of volatility and uncertainty. Head of Portfolio Strategy David Dali maps out the issues to consider when constructing and managing a portfolio for emerging markets.
Despite NVIDIA’s stock flashing a bearish “death cross”—its 50-day moving average slipped below the 200-day moving average for the first time since January 2023—the energy at the conference was electrifying. Every major industry was represented, from health care to defense, signaling that artificial intelligence (AI) is expanding at a white-knuckle clip.
With only eight trading days left in the first quarter, M&A announcements are set to come in at their lowest level since Q2 2020.
The Federal Reserve held rates steady today, but downgraded the outlook for economic growth in the year ahead. Policy changes in Washington, looming tariffs, and a cautious consumer have made “uncertainty” the new favorite word in the Fed’s vocabulary.
Elon Musk’s social network X has raised close to $1 billion in new equity from investors, according to people with knowledge of the matter — a deal that gives the company a valuation in line with when Musk took it private in 2022.
I’ve spent much of my career coaching and providing learning opportunities for those professionals who want to improve. This week I had an experience that moved me to write a column about the difficulty in opening one’s self up to being willing to be coached, and of making behavioral change.
Microsoft Corp., the biggest backer of Sam Altman’s OpenAI, and BlackRock Inc., which has an executive on the artificial intelligence startup’s board, are joining forces with one of its chief rivals.
Cathie Wood’s Ark Investment Management LLC is cutting its stake in Meta Platforms Inc. for the first time in around a year, the latest sign of a downturn in fortunes for big US tech stocks.
Customization is an integral part of direct indexing. The technology behind it can make or break the experience for clients and advisors alike. We dive into the features and functions that make the best tools.
Head of research at VettaFi, Todd Rosenbluth interviews Neil Bage, the co-founder of Shaping Wealth about his upcoming workshop "Building a human-centric wealth culture" at the Exchange conference.
Banks needed the right version of Donald Trump to justify their high-flying stock prices. They got the wrong one. The US president’s chaotic and aggressive performance during his first few weeks in the White House has shocked companies, put investment plans and deals on hold and threatens to drag the economy into recession.
Google parent Alphabet Inc. agreed to acquire cybersecurity firm Wiz Inc. for $32 billion in cash, reaching a deal less than a year after initial negotiations fell apart because the cloud-computing startup wanted to stay independent.
For years, Federal Reserve meetings have been the main event on Wall Street as the central bank fought to contain runaway inflation.
The share of US workers making a direct transition from one employer to another has slid near a four-year low, according to the latest data from the Federal Reserve Bank of Philadelphia, pointing to a weakening labor market.
Recent economic data has been all over the map. Consumer confidence sank this month to the lowest level since November 2022, yet the labor market remains strong, with historically low unemployment and rising wages.
Cinthia Murphy, TMX VettaFi Investment Strategist interviews retirement expert and author of "Your Best Financial Life," Anne Lester. Anne will be hosting "Retirement: Communicating with (B)oomers to Gen(Z)," an engaging and exciting workshop at the Exchange conference in Las Vegas.
The 60/40 portfolio, where 60% is invested in stocks and 40% in bonds, is the initial starting point for many portfolios. The exact asset mix is often adjusted based on an investor’s time horizon, risk tolerance, and financial goals, but the simple, proportional stock-bond combination is what is often considered a “balanced” portfolio.
Global investment themes are shifting toward infrastructure, cybersecurity and energy expansion as demand outpaces supply in key sectors.
The EV shakeout is underway. When the dust settles, only a few players will remain. Many more will be relegated to the scrapyard of failed ambitions.
When clients are scared, you want to be there for them and respond to their concerns. However, if you don’t pause from time-to-time to make sure you are responding in the most effective ways, you will find yourself continually frustrated and even possibly resentful of the interruption.
Financial Advisor Transition
Student Loans Drive US Delinquency Rate to Highest Since 2020
The share of outstanding US consumer debt that’s in delinquency rose in the first quarter to the highest in five years, reflecting an end to the pandemic-era pause on reporting delinquent student loan payments on credit reports.
Want to Build a Strong Advisor Team? 3 Ways to Retain Top Talent
Trying to grow a stable team of advisors & retain top talent? Young advisors are seeking RIA firms offering, e.g., remote work flexibility
Take a Breath When Unfairly Criticized
It can be tempting to react when someone at work criticizes you at work, but take some time to consider the issue before you do.
Commonwealth Partners with Messina College, Creating Career Paths for First-Generation College Students
Commonwealth Financial Network®, a national RIA dedicated to providing financial advisors with holistic, integrated business solutions, has initiated a new partnership with Messina College, a two-year, all-residential degree program of Boston College that welcomed its first-ever class of students to the school’s Brookline Campus last summer.
Active Fixed Income Perspectives Q2 2025: Risks to Realities
The early-April announcement of a broad new round of tariffs against virtually all U.S. trading partners—followed by a pause for many of them—has triggered a tidal shift in the global economy. Uncertainty created by tariff negotiations, as well as burgeoning federal debt levels and other ongoing concerns, has far-reaching economic implications, leading us to reassess our 2025 outlook.
Basel III Makes It Official: Gold Is Money Again
For my entire decades-long career in capital markets, I’ve made the case that gold is not just a shiny relic of the past, but a serious, strategic asset for modern investors. After years of pounding the table, it feels pretty good to say that the world’s central banks—and now the U.S. banking system—are finally catching up.
The Federal Reserve Reserves the Right to Change Its Mind
Chief Economist Eugenio J. Alemán discusses current economic conditions.
Tension in the Sandpile
I’ve been writing about tariffs for a couple of months now, focusing mostly on the macroeconomic harm and the costs they impose on small businesses. Today I want to consider something else: the new risks they are adding to the financial system alongside the old risks.
Buffett Steps Back, His Insights Remain
Warren Buffett opened his 60th—and final as CEO—Berkshire Hathaway annual meeting with the same understated clarity that has defined his career: "This is my 60th annual meeting... I think it'll be the best yet."
You Can Run, But You Can’t Hedge
Bonds and stocks falling together stirs painful memories of the 2022 inflation surge. This time, trade and tariff uncertainty is to blame, along with a dose of questioning the Fed’s independence.
Global Gold Bar and Coin Demand Rose in Q1 But Not in the U.S.
China drove the surge in retail investment demand, charting the second strongest quarter on record.
The Home Stretch: Seven Essential Steps For Pre-retirees
Preparing for retirement involves more than finances and should include a focus on health, wellbeing and goals. Our Mike Dullaghan explains why it’s important to start preparing 10 years ahead of retirement.
Awaiting Further Clarity
The Federal Reserve held rates steady today, while emphasizing that elevated uncertainty has clouded the path forward. If, when, and how much tariff policy will change in the months to come will play a large part in dictating the next move for the Fed.
How Buffett Became the Accidental Model for Smart Succession
Even though Warren Buffett is 94 and decades past the average retirement age, the end of his run as CEO of Berkshire Hathaway Inc. was always going to come as a shock.
Dealing With Bullying Coworkers and Micromanaging Bosses 101
In my team, we implement a concept called ARTICA, which I created a number of years ago . ARTICA is a step-by-step process to help you deal with the difficult conversations that might otherwise feel daunting,
OpenAI Can't Have Its Money Both Ways
Sam Altman’s reputation for spin was out in full force this week in a published “letter to employees” announcing that he was abandoning plans to turn OpenAI into a for-profit company. Instead, it will “continue to be overseen and controlled” by its nonprofit board.
Welcome the Driverless Trucks
It was a glimpse of a very appealing future: A sleek 18-wheeler powered by Aurora Innovation Inc. trundled down Interstate 45 from Dallas to Houston last week with a trailer full of goods and a completely empty cab. At long last, autonomous trucking may have arrived.
A Closer Look at Full-time and Part-time Employment: April 2025
April's employment report showed that 82.6% of total employed workers were full-time (35+ hours) and 17.4% of total employed workers were part-time (<35 hours).
Client Communication Strategies During Market Volatility
With investors experiencing heightened anxiety about their financial futures, your approach can make the difference between client retention and attrition. This comprehensive guide from our senior consultants explores actionable strategies for effective client communication during market volatility.
Microsoft Is Key Holdout for OpenAI Restructuring Plan
After months of public pressure, OpenAI walked back part of its effort to create a more conventional for-profit company, but its restructuring plans still have not received the blessing of a major stakeholder: Microsoft Corp.
Does Your Practice Need a Torpedo Bat?
You’ve built your book. Refined your process. You know how to serve clients and grow your business. But what if your current firm is acting like an outdated piece of equipment? One that doesn’t match how you actually operate? One that limits what’s possible?
Lightspeed is Latest Firm to Shift Away From Classic VC Model
Lightspeed Venture Partners, one of Silicon Valley’s largest venture capital firms, has changed its regulatory status to broaden its range of investments — following similar moves by Sequoia Capital, Andreessen Horowitz and General Catalyst as they shift away from the traditional VC playbook.
Key Tax Planning Strategies for Business Owners
Businesses may face challenges but there are also a number of tax-smart strategies that can help mitigate tax liability and enhance efficiency. Our Bill Cass discusses several tax-smart strategies to consider.
Summit Wealth Group Launches RIA, SEI Powers Evolved Business Model
SEI® (NASDAQ:SEIC) today announced that Summit Wealth Group, a fast-growing enterprise advisor practice, has selected SEI to support the firm’s vision and evolution for strategic growth.
Rare Earth Restrictions
After the U.S. imposed substantial tariffs on China, Beijing responded with tariffs of its own and with restrictions on exports of seven rare earth minerals. The latter action will be a particular hindrance to American manufacturers.
3 Marketing Tips for Advisors Starting Their Own Firm
Operating as a one-person shop means you’ll wear many hats, but there are common pitfalls you can avoid — and marketing strategies that can help you make the most of your time and resources.
Communicating Through Layoff Woes and Onboarding Surprises
Right now, you don’t want to burn any bridges anywhere, as you don’t know how things will unfold. Be professional and be kind. But you also have every right to set boundaries and to protect yourself!
Citadel Securities Warns SEC That Private Rooms, 24-Hour Trading Are Emerging Risks
Citadel Securities is urging the Securities and Exchange Commission’s new leadership to examine a list of what it argues are emerging and mounting risks, including opaque trading in so-called private rooms and the push by US stock markets to operate around the clock.
The Trials and Tribulations of Trade
American leaders are now engaged in an effort to reverse the loss of manufacturing. The hope is to restore a path to prosperity for struggling regions and their residents. Tariffs are being employed liberally as a means to this end.
Private Equity Firms Target Defense Assets Once Seen as Toxic
Private equity firms are scouring for investment opportunities in European defense, chasing the once shunned sector in an effort to benefit from a historic switch to military expansion in the region.
Quarterly Review and Outlook
Five pivotal U.S. economic considerations, including tariffs, monetary policy, fiscal policy, debt overhang, and demographics, are aligning to depress economic growth for the balance of this year and into 2026.
Equity Market Outlook
U.S. policy uncertainty and the ebbs and flows of AI advancement are likely to stoke continued volatility in the world’s stock markets.
Tesla’s Cure for Musk’s Missteps Is More Musk
Tesla Inc. reported abysmal numbers for the first quarter on Tuesday evening. Naturally, Chief Executive Officer Elon Musk kicked off the call with a discussion on why he must fix America’s finances, facing down an army of alleged moochers.
Bearish ETF Alarms Blare After a $373 Million Short Bet
A group of ETF traders are betting against a spirited rebound in the stock market, as they pay up for short positions and withdraw money from bullish strategies.
Take Well-Timed Action for the Biggest Impact
I’m not someone who believes you should let offensive things go by. Look for your opportunity and be ready!
Turas Wealth Partners Joins Kestra Private Wealth Services To Further Focus on Client Experience
Kestra Private Wealth Services (Kestra PWS), a registered investment adviser subsidiary of Kestra Financial, Inc., today announced it has welcomed Turas Wealth Partners (Turas), a wealth management firm led by father-son duo John and Shea Marmion, to its platform.
3 Considerations for Advisors Branching Out to an RIA
For financial advisors, moving to independence and an RIA means navigating a sea of decisions, including business model types and vision.
Is Economics About Everything? A Review of ‘How Economics Explains the World'
Andrew Leigh is a very good storyteller, making “How Economics Explains the World” an easy and fun read. In the hands of someone unfamiliar with basic economic reasoning, it might lead them to pursue economics further. Even if you’re farther along in your economic education, we almost always benefit from relearning things we already know, but in a new light.
Europe Can’t Hide Behind America Anymore
In general, European countries have infused so much socialism and regulation into their economies that their economic growth has lagged behind the U.S. As a result, their GDP per capita is a third lower than in the U.S.
Analysts See Gold at $4,000 as Faith in the U.S. Dollar Tumbles
In nominal terms, the yellow metal set multiple new all-time highs this week, exceeding $3,300 an ounce for the first time ever on Wednesday. And on an inflation-adjusted basis, gold also notched a new record price, surpassing the longstanding record set in 1980.
LPL Financial Welcomes Tenacity Investment Group
LPL Financial LLC announced today that financial advisor Steve Jones of Tenacity Investment Group has joined LPL Financial’s broker-dealer, Registered Investment Advisor (RIA) and custodial platforms.
The Importance of Staying Up to Date on Practice Management
As you position your practice for long-term success, keeping on top of the latest trends and ideas is critical.
Key Conference Takeaways on Being a Better Manager
It’s always an honor for me to both attend and speak at the Barron’s conference. In thinking about this column, I am recalling many of the amazing presentations, great insights and fabulous speakers I heard.
Commonwealth Advisors On The Power Play In LPL Acquisition
The announcement that LPL Financial will acquire Commonwealth Financial Network marks another major shift in the wealth management landscape—and presents a pivotal career moment for Commonwealth’s nearly 2,900 financial advisors.
A Week of Whiplash
The reciprocal reprieve does not alter the tectonic shift in the trade outlook.
How Advisors Can Assist Clients in Rebalancing Their Portfolio Over Time
Portfolio rebalancing helps advisors uncover a new investment plan of action that aligns with a client's long-term financial milestones. It also considers how the current market will impact asset diversification.
Trump’s Coal Comeback Could Face a Brutal Economic Reality
Between raising and lowering tariffs on imported goods, President Donald Trump made time last week to sign an executive order aimed at reviving America’s “beautiful clean coal industry.”
The Consumer is Tapping Out
The American consumer is tapped out. The savings buffer is gone, wage growth is declining, and credit costs are rising. Corporate America is already adjusting to this new reality, with companies issuing cautious guidance for 2025.
Navigating Resource Equities in a Shifting Macro Landscape
Commodity markets face uncertainty from tariffs, global growth risks and geopolitics, but may show resilience. Tight supply and global stimulus support a constructive long-term outlook.
Elon Musk Hands Morgan Stanley Earnings Boost With X Debt Sale
Morgan Stanley’s willingness to stick it out with Elon Musk is giving its first-quarter results a healthy boost.
When the News You Must Deliver Is Unwelcome
Many people who are not interested in seeing anything about their own behavior that is causing a problem. They either have over-developed egos, or a lack of confidence so deep it is threatening to find an area of opportunity for change.
2025 Global Market Outlook: The Mechazilla Moment
An enduring image from 2024 will be the capture of the SpaceX booster rocket by the Mechazilla robot arms on its return to Earth.
S&P 500 Is Heading for a Bear Market as Tariffs Hit Everything
President Donald Trump’s trade war has US stocks on track to enter their first bear market since the Covid pandemic.
The Tariff Recession?
Good news: Tariffs will not make the world end. American businesses will do what they do best, which is adapt. While the probability of a recession has increased, we always get through it and the best businesses thrive. Unless directly affected by tariffs, don’t change your personal plans that much.
The New 'Black Gold' Needs More Bulls
To most people, black gold means oil, the substance that helped build the modern world while causing the climate crisis. But a new treasure on the market is getting prospectors excited, not least for the role it could play in fixing the problem fossil fuels created.
Tariffs Trigger Worst Session Since 2020
U.S. indexes suffered their worst day since the pandemic, hurt by Trump's massive tariffs that sparked recession fears. Almost every sector fell, with retailers and tech hard hit.
AI Video Startup Runway Valued at $3 Billion in Funding Round
Runway AI Inc. has raised $308 million in a new round of funding that more than doubles the company’s valuation — a sign of investor enthusiasm for startups building artificial intelligence software that can generate videos.
How to Fit Direct Indexing into a Client’s Current Portfolio
Investors face new challenges as their wealth grows. So it’s a good thing that direct indexing is designed to fit their allocations just the way they are.
Make Yourself Stand Out to Close the Sale
In this column, I’ll share some marketing secrets I’ve seen work well, whether you are trying to do lead gen or whether you are in a “finals” situation competing against other advisors, or whether you are talking with a prospect in your office.
OpenAI Shows Too Much Money Can Be a Real Thing
On Monday, OpenAI announced $40 billion in new financing, the largest funding round in history, and one that nearly doubled the artificial intelligence company’s valuation to $300 billion.
The Rhythm of Style: Value vs. Growth in Developed International Markets—Part 1
Investors often debate the merits of value versus growth investing, but when it comes to developed international equities, the conversation isn't static; it moves in cycles.
It’s Not Just America Trying to Halt Clean Energy
It’s not just America and Europe that fear the competitive threat from Chinese clean technology. China itself is scared.
EQT Raises €21.5 Billion for Its Latest Infrastructure Fund
EQT AB has raised €21.5 billion ($23.2 billion) for its latest infrastructure fund — a sum a top executive for the Swedish investment firm says underscores how the energy sector’s funding needs trump an uncertain market for deals.
What Trump’s Tariff Critics Are Getting Wrong
US President Donald Trump’s focus on “reciprocal tariffs,” rather than balanced trade, does not suggest that his administration intends to use tariffs strategically to cut the country’s chronic trade deficit. But Democrats must stop dismissing outright a policy tool that they themselves embraced under Biden.
A World Under Construction
The global economy is undergoing an unprecedented wave of industrial and infrastructure expansion, driving relentless demand for commodities across energy, metals and agriculture.
The AI Boom vs. the Dot-Com Bubble: Have We Seen This Movie Before?
The parallels between the AI narrative driving the current market and the dot-com bubble of a quarter century ago raise important concerns for investors.
Chicago Fed National Activity Index: February 2025
The Chicago Fed's National Activity Index is a monthly indicator designed to gauge overall economic activity and related inflationary pressure. It is a composite of 85 monthly indicators across four broad categories. The CFNAI is a forward-looking indicator that suggests how the economy will likely look in the near term and has been called one of the "most important and overlooked economic numbers". The index is constructed so a zero value for the index indicates that the national economy is expanding at its historical trend (average) rate of growth. Negative values indicate below-average growth, and positive values indicate above-average growth.
Tariff Tantrum
As policy uncertainty grows, we consider how tariffs and other government actions might impact inflation, interest rates, and market sentiment.
Lessons on Rebuilding After Catastrophe
Life’s challenges often force us to become more present, to experience each moment fully. In doing so, I discovered the importance of celebrating small victories – not just the major milestones, but the everyday wins that mark progress.
Gambling Is No Longer Investing’s Evil Twin
I suspect many people yawned when the popular online brokerage Robinhood Markets Inc. announced it will offer sports and other prediction market derivatives, starting with betting on the NCAA March Madness basketball games.
The Investment Portfolio Approach
Emerging markets offer the potential for long-term diversified investment returns but they can endure challenging periods of volatility and uncertainty. Head of Portfolio Strategy David Dali maps out the issues to consider when constructing and managing a portfolio for emerging markets.
AI Agents Are the Next Big Thing, Says NVIDIA’s Jensen Huang
Despite NVIDIA’s stock flashing a bearish “death cross”—its 50-day moving average slipped below the 200-day moving average for the first time since January 2023—the energy at the conference was electrifying. Every major industry was represented, from health care to defense, signaling that artificial intelligence (AI) is expanding at a white-knuckle clip.
Economic Headwinds Chill M&A Deals
With only eight trading days left in the first quarter, M&A announcements are set to come in at their lowest level since Q2 2020.
Uncertain
The Federal Reserve held rates steady today, but downgraded the outlook for economic growth in the year ahead. Policy changes in Washington, looming tariffs, and a cautious consumer have made “uncertainty” the new favorite word in the Fed’s vocabulary.
Elon Musk’s X Raises Almost $1 Billion in New Equity Funding
Elon Musk’s social network X has raised close to $1 billion in new equity from investors, according to people with knowledge of the matter — a deal that gives the company a valuation in line with when Musk took it private in 2022.
The Painful Experience of Being Coached
I’ve spent much of my career coaching and providing learning opportunities for those professionals who want to improve. This week I had an experience that moved me to write a column about the difficulty in opening one’s self up to being willing to be coached, and of making behavioral change.
Musk’s xAI Startup Joins Microsoft-BlackRock $30 Billion AI Fund
Microsoft Corp., the biggest backer of Sam Altman’s OpenAI, and BlackRock Inc., which has an executive on the artificial intelligence startup’s board, are joining forces with one of its chief rivals.
Cathie Wood Sells Meta Shares for First Time in Nearly a Year
Cathie Wood’s Ark Investment Management LLC is cutting its stake in Meta Platforms Inc. for the first time in around a year, the latest sign of a downturn in fortunes for big US tech stocks.
How to Put the Power of Direct Indexing at Your Fingertips
Customization is an integral part of direct indexing. The technology behind it can make or break the experience for clients and advisors alike. We dive into the features and functions that make the best tools.
The Road to Exchange: Featuring Neil Bage
Head of research at VettaFi, Todd Rosenbluth interviews Neil Bage, the co-founder of Shaping Wealth about his upcoming workshop "Building a human-centric wealth culture" at the Exchange conference.
Investment Bankers Finally Start to Take Trump Literally
Banks needed the right version of Donald Trump to justify their high-flying stock prices. They got the wrong one. The US president’s chaotic and aggressive performance during his first few weeks in the White House has shocked companies, put investment plans and deals on hold and threatens to drag the economy into recession.
Google Agrees to Buy Cloud Security Firm Wiz for $32 Billion
Google parent Alphabet Inc. agreed to acquire cybersecurity firm Wiz Inc. for $32 billion in cash, reaching a deal less than a year after initial negotiations fell apart because the cloud-computing startup wanted to stay independent.
Fed Day Takes on New Meaning in Stock Market Transfixed by Trump
For years, Federal Reserve meetings have been the main event on Wall Street as the central bank fought to contain runaway inflation.
Direct Job Switches Near Four-Year Low in Sign of Weak US Market
The share of US workers making a direct transition from one employer to another has slid near a four-year low, according to the latest data from the Federal Reserve Bank of Philadelphia, pointing to a weakening labor market.
Gold Smashes Through $3,000 as Recession Fears Mount
Recent economic data has been all over the map. Consumer confidence sank this month to the lowest level since November 2022, yet the labor market remains strong, with historically low unemployment and rising wages.
The Road to Exchange: Featuring Anne Lester
Cinthia Murphy, TMX VettaFi Investment Strategist interviews retirement expert and author of "Your Best Financial Life," Anne Lester. Anne will be hosting "Retirement: Communicating with (B)oomers to Gen(Z)," an engaging and exciting workshop at the Exchange conference in Las Vegas.
Rebuilding Resilience in 60/40 Portfolios
The 60/40 portfolio, where 60% is invested in stocks and 40% in bonds, is the initial starting point for many portfolios. The exact asset mix is often adjusted based on an investor’s time horizon, risk tolerance, and financial goals, but the simple, proportional stock-bond combination is what is often considered a “balanced” portfolio.
From AI to Infrastructure: The 10 Investment Themes Defining the Next Five Years
Global investment themes are shifting toward infrastructure, cybersecurity and energy expansion as demand outpaces supply in key sectors.
The EV Shakeout
The EV shakeout is underway. When the dust settles, only a few players will remain. Many more will be relegated to the scrapyard of failed ambitions.
Taking Care of Yourself – and Your Clients – When Markets Are Volatile
When clients are scared, you want to be there for them and respond to their concerns. However, if you don’t pause from time-to-time to make sure you are responding in the most effective ways, you will find yourself continually frustrated and even possibly resentful of the interruption.