Summer re-runs are popular on TV, but a repeat of last August's "yen-carry" market upheaval isn't likely on the schedule. A shift in positioning by investors is one reason.
With tariff news providing constant equity market fluctuations, the case for bonds becomes more compelling. The added uncertainty also punctuates the need for an active management strategy, which one particular Vanguard ETF offers.
In the week ending June 7th, initial jobless claims were at a seasonally adjusted level of 248,000, remaining at their highest level in eight months. This is unchanged from the previous week's figure. The latest reading was higher than the 242,000 forecast.
What's the debt ceiling? Learn how the debt ceiling works and how a default on federal debt could impact the U.S. stock market and economy.
With the world order in flux, investors can look to fortify portfolios by diversifying across global markets and capitalizing on attractive, high quality yields.
What does the ratio of unemployment claims to the civilian labor force tell us about where we are in the business cycle and recession risk?
Inflation affects everything from grocery bills to rent, making the Consumer Price Index (CPI) one of the most closely watched economic indicators. The Bureau of Labor Statistics (BLS) tracks this by categorizing spending into eight categories, each weighted by its relative importance.
Inflation rose for the first time in four months in May. According to the Bureau of Labor Statistics, the headline figure for the Consumer Price Index was at 2.4% year-over-year, up from 2.3% in April but lower than the expected 2.5% growth.
Financial institutions shouldn’t underestimate the depth of regulatory complexity coming their way. A misstep in just one area — whether it’s KYC, AML or elsewhere — could unleash severe consequences.
Transitioning away from your current firm is always a big step, but leaving a non-Broker Protocol firm comes with unique complexities — and potential legal pitfalls — if you're not fully prepared.
The global economy is continually evolving due to inflation, interest rates, and geopolitics. How could these and other factors influence the major asset classes over the coming decade?
If we lived in a world where mobile signals were visible, the sky would shimmer like a storm—layers of frequencies rolling over rooftops, crossing oceans and saturating valleys.
Stablecoins are a special flavor of cryptocurrency. Unlike Bitcoin or countless wildly traded memecoins, whose values rise and fall based on market moods, the most popular versions of these digital tokens are supposed to always be worth $1 each.
The NFIB Small Business Optimism Index increased for the first time in five months, rising to 98.8 in May. The recovery was in large part due to owners expecting better business conditions and higher sales volumes.
As we head into the second half of the year, US markets seem to be turning around, with economic data that is still coming in mixed. The major US indices were up the first three days of last week, dipping on Thursday after weaker back-to-back readings of the US labor market.
Investors nearing or in retirement who are currently defaulted into TDFs need to stop defaulting and move to safety now.
As small business clients look toward ambitious growth, advisors have the chance to offer something foundational: a term life insurance strategy that turns ambitions into a legacy.
Stablecoins and the concept of digital money represent a significant shift from the current system. While there are many risks with digital money, there is also promise.
Rebounding demand from ETF investors and resilient buying from central banks and Asia retail have propelled gold prices to fresh records north of US$3,000/oz. Find out why we believe there is more room to run.
The bill contains several tax-code changes that could affect municipal bonds, although we don't think it reduces the appeal of munis for high-income earners.
In sauna-like wooden meeting huts scattered around private capital’s annual marquee event in Berlin, executives are looking for the next hot spot.
There is a general belief that there are four big indicators that the NBER Business Cycle Dating Committee weighs heavily in their cycle identification process. This commentary focuses on one of these indicators: nonfarm employment. In May, total nonfarm payrolls increased by 139,000 while the unemployment rate remained at 4.2%.
Bouts of volatility may continue in the second half of 2025 as bond market investors navigate evolving tariff policy, U.S. government debt, and economic uncertainty.
We remain underweight most developed market stocks as US tariff policy is still unclear but are more enthusiastic about emerging market assets.
Since 2019 and the establishment of the ETF Rule, traditional active managers, armed with decades of expertise, have flocked to ETFs.
Investors may revisit international exposure in their portfolios amidst reduced market reactions to tariff announcements, uncertain U.S. policy and lagging U.S. stock performance.
The May U.S. Services Purchasing Managers' Index (PMI) from S&P Global came in at 53.7, above the 52.3 forecast. The reading marks the 28th consecutive month of expansion and was a noticeable pickup from April's 17-month low.
America’s holiday from history is over: Debt matters again. It is not just that the national debt is so big it cannot be ignored.
Here are some important insights and good open-ended questions to ask your clients to make sure they are thinking through life decisions.
Here is a look at real (inflation-adjusted) charts of the S&P 500, Dow 30, and Nasdaq composite since their 2000 highs. We've updated this through the May 2025 close.
As investors grapple with nagging macro uncertainty, market volatility’s likely to continue. But we also see reasons for optimism — and new opportunities.
Q1 company earnings painted a picture of corporate health as markets entered a period of trade tumult. Fundamental Equities CIO Carrie King discusses the importance of staying invested amid volatility, and outlines where there may be opportunities for long-term, fundamental investors to take advantage of market nerves to add to positions within enduring investment themes.
Most clients are relatively conservative when it comes to determining how much they can afford to spend in retirement. All things being equal, clients would generally rather die with too much money than too little.
Today I’m going to highlight some speakers who added an equity market perspective to their big-picture views. Getting both right would be much easier if more investors behaved rationally. Alas, they don’t, which is why stock prices do incomprehensible things. Fortunately, you can succeed without catching every twist and turn.
House prices are falling, and it’s no longer just a Florida and Texas story. Rising inventory across the country and still reluctant buyers mean that those looking to sell face the prospect of more competition and lower prices next spring if they don’t close on a deal soon. For buyers, holding out can mean a better price.
Personal income (excluding transfer receipts) rose 0.4% in April and is up 4.3% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) was up 0.3% month-over-month and up 2.1% year-over-year.
The National Association of Realtors® (NAR) pending home sales index fell more than expected in April, experiencing its largest monthly decrease since June 2022. The index came in at 71.3, the third lowest reading in the series' history.
Matching assets to long-term liabilities without compromising on return potential can be a challenge for insurers with long-duration liabilities.
Some of the most useful financial advice has a homespun tone, like to make hay while the sun is shining or save up for a rainy day. I recently encountered another helpful idea in that vein: Think of your house like a family member who is always sick.
Clients aren’t asking their financial advisor to be everything. They’re asking for clarity and confidence in what matters most to them. Simplifying the client experience may be the most strategic move advisors can make.
In this article, I focus on five essential age-based milestones and life events that collectively present more than 40 million advice opportunities, enabling financial advisors to showcase their care and expertise beyond traditional investment strategies.
Let’s unpack the state of the markets today, explore where opportunities lie and review several strategies to navigate the months ahead.
How do you make sure your nest egg lasts as long as you do? Figuring out a safe withdrawal rate is tricky, because life is unpredictable. Markets and inflation rise and fall, tax laws change, and political philosophies come and go.
Without proper financial guidance and planning, the end of their career could be followed by serious financial difficulties. While every athlete’s legal, tax, and financial picture is different, here are some of the topics that should be reviewed with athletes.
Existing home sales inched down in April, reaching their lowest level in seven months. According to the National Association of Realtors (NAR), existing home sales fell 0.5% from March to a seasonally adjusted annual rate of 4.00 million units in April.
Private credit firms are seeing an opportunity to finance everything from public transit systems to local utilities as the federal government and banks pull back on funding.
Selling your real estate portfolio, especially investment properties you and your family have held for years or decades, can be a complex process.
The Endowment Tax was introduced during the first Trump administration as part of the 2017 Tax Cuts and Jobs Act (TCJA).
Your financial requirements are multifaceted, necessitating strategies tailored to your specific needs. Tailored lending can be a valuable addition to a high-net-worth individual’s financial plan, helping you optimize cash flow, maximize tax efficiency and realize important estate planning goals.
Long-term interest rates have become much less predictable, and that means volatile prices for long bonds.
Amid the relentless chaos in Washington — tariffs, trade war, terminally rising deficits — at least one sensible idea has recently emerged: The federal government wants to free up more land to build homes. It’s a great ambition. The devil, as ever, will be in the details.
When CFRA’s Paige Meyer slapped a “sell” rating on UnitedHealth Group Inc. in February, she was the lone analyst out of 30 tracked by Bloomberg with a negative view of the company.
This isn’t about selling — at all. It’s about problem-solving and helping — it’s about offering an opportunity to change someone’s life. Remember, they can always say “no.”
Last week I talked about the upward sloping Treasury yield curve, a welcome change from the inverted yield curve that lingered for years. The upward sloping curve means that investors are rewarded more for taking on duration.
Stephen Hemsley never fully dropped the reins when he stepped down as UnitedHealth Group Inc.’s chief executive officer eight years ago. With the health giant in crisis, he’s taking back his old job – and confronting one of the toughest turnaround tasks any executive has ever faced.
By incorporating growth CDs into a diversified retirement plan, retirees can take advantage of equity market growth, protect their lifestyle, and avoid the fear of market downturns diminishing their savings.
Recent revisions to the IMF’s World Economic Outlook reflect a sobering message: the world economy is entering a more volatile and fragmented era.
Don’t allow your middle-aged clients depending on their 401(k) plan to fool themselves. Markets can’t rescue a failure to save until it hurts. And don’t let them kid themselves that a smoother ride with bonds won’t come at the cost of increased shortfall risk.
US stocks delivered their second-best weekly gain of the year on Friday, as Big Tech fueled a rally that brought the S&P 500 Index closer to an all-time high set nearly three months ago.
Retirement. It’s a phase of life that brings with it unique challenges, particularly when it comes to healthcare. In the U.S., the average lifespan is 79 years (compared to the global average of 73 years).
While April brought further welcome news on the inflation front, underlying consumer fundamentals painted a more concerning picture.
A rushed exit from conservatorship could increase mortgage rates and worsen home affordability.
So far in 2025, markets have had plenty to absorb: the Trump administration’s tariffs, Germany’s latest investment commitments, the implications of the DeepSeek moment, and escalating military conflicts (now including one on the India-Pakistan border).
Builder confidence fell sharply in May as uncertainty stemming from elevated rates, tariffs, building costs, and the cloudy economic outlook dragged builder sentiment to its lowest level in 18 months.
Certificates of deposit (CDs) and Treasuries both can offer steady, predictable investment income—but how to decide between them? Here are five factors to help you choose.
Explore the performance journey of the S&P 500, Nasdaq, and Dow Jones since their peaks in 2000. This video analyzes how these key U.S. stock market indexes have navigated over two decades of economic shifts and technological change, revealing their distinct paths through April 2025.
To help exemplify the importance of UX, I’m breaking down a few of the most common UX myths, along with the top recommendations to avoid the pitfalls associated with them.
In the report, Portfolio Managers John Kerschner, Nick Childs, and Thomas Polus highlight three reasons why agency mortgage-backed securities (MBS) look attractive in the present environment.
There is much serious discussion about the “rule of law” today. This discussion is good and should be applied to the affective meaning of fiduciary today. Pressures from the brokerage and insurance industries over the past 20 years have effectively nullified the clear purpose of the IAA and the Supreme Court decision in 1963.
The price of Wegovy, Novo Nordisk’s blockbuster weight-loss drug, is $1,349 a month in the US; in Germany, it’s $328. The US price for Keytruda, a cancer treatment, is $191,000 a year; in Japan, it’s $44,000.
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.
In the report, Portfolio Managers Andy Acker and Dan Lyons say that despite growing policy uncertainty, plenty of healthcare companies have managed to put up big returns.
At Wednesday’s press conference, Chair Jay Powell signaled a wait-and-see approach, as the Fed keeps a close eye on inflation pressures and the job market.
The culture clash between Bitcoin enthusiasts and gold bugs is about to be played out in the world of exchange-traded funds.
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.
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.
Trend-following strategies can offer attractive, positively skewed returns, with large positive outperformance often coinciding with large equity selloffs, thereby offering tail protection.
Warren Buffett, the greatest investor of all time, will step down as chief executive officer of Berkshire Hathaway Inc. at the end of the year. The six-decade track record he leaves behind is so astonishing that mere numbers on a page don’t do it justice.
This article focuses on asset-based fees that cover both advice and investment-related costs, which is a model that I believe is best-suited for most individuals, as advisors can add value across multiple dimensions.
Results from some of the Magnificent 7 names last week reignited the AI trade. Both Meta and Microsoft reported after-the-bell on Wednesday, blowing past analyst estimates
Now that Warren Buffett, the philosopher king of modern investing, has announced that he will step down as Berkshire Hathaway Inc.’s chief executive officer at the end of the year, it’s a good time to marvel again at his career.
Warren Buffett is stepping down as chief executive officer of Berkshire Hathaway Inc., the company he built alongside his later partner Charlie Munger for the past six decades.
Warren Buffett picked the final minute of his 60th shareholder meeting to drop a long-awaited announcement that was still completely surprising for his fans, most of his board and even his successor.
In investing, success is often judged by numbers—returns on investment, percentage gains, and the ability to outperform benchmarks like the S&P 500. However, some investors frequently pursue a peculiar set of “awards” without realizing the pitfalls they embody.
In this article, Russ Koesterich discusses the ongoing uncertainty around tariffs and how investors can protect their portfolios against the potential for an environment of prolonged and heighted volatility.
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.
Morgan Stanley is working on a plan to add cryptocurrency trading to its E*Trade platform, in what would be the most significant move by a major US bank to help everyday customers buy into the asset class since the Trump administration began removing regulatory barriers.
Famous gold skeptic Warren Buffett is right about the dangers of inflation when it comes to non-producing assets, but he’s never been a fan of gold. Monetary Metals has transformed gold into a productive asset by generating a yield on gold, paid in gold, proving Buffett wrong about gold and giving investors new ways to own this timeless asset.
Stable value funds can offer capital preservation and stable returns. Our Mike Dullaghan explains the key role of stable value in long-term retirement savings.
As we have written…The Era of Easy Everything is ending. Part of this involves bringing inflation back to the Federal Reserve’s target of 2.0%. We could debate that number, but the Fed is getting closer.
Insurance & Annuities
"Yen-Carry" Anniversary Nears, but Worries Fade
Summer re-runs are popular on TV, but a repeat of last August's "yen-carry" market upheaval isn't likely on the schedule. A shift in positioning by investors is one reason.
An Active Option to Ponder as Bonds Look More Compelling
With tariff news providing constant equity market fluctuations, the case for bonds becomes more compelling. The added uncertainty also punctuates the need for an active management strategy, which one particular Vanguard ETF offers.
Unemployment Claims Unchanged from Previous Week, Higher Than Expected
In the week ending June 7th, initial jobless claims were at a seasonally adjusted level of 248,000, remaining at their highest level in eight months. This is unchanged from the previous week's figure. The latest reading was higher than the 242,000 forecast.
What Is the Debt Ceiling and Why Does It Matter?
What's the debt ceiling? Learn how the debt ceiling works and how a default on federal debt could impact the U.S. stock market and economy.
The Fragmentation Era
With the world order in flux, investors can look to fortify portfolios by diversifying across global markets and capitalizing on attractive, high quality yields.
Unemployment Claims and the CLF as a Recession Indicator: May 2025
What does the ratio of unemployment claims to the civilian labor force tell us about where we are in the business cycle and recession risk?
Inside the Consumer Price Index: May 2025
Inflation affects everything from grocery bills to rent, making the Consumer Price Index (CPI) one of the most closely watched economic indicators. The Bureau of Labor Statistics (BLS) tracks this by categorizing spending into eight categories, each weighted by its relative importance.
Consumer Price Index: Inflation Rises to 2.4% in May, Lower Than Expected
Inflation rose for the first time in four months in May. According to the Bureau of Labor Statistics, the headline figure for the Consumer Price Index was at 2.4% year-over-year, up from 2.3% in April but lower than the expected 2.5% growth.
One Consumer Watchdog Loses Its Bite as Others Sharpen Their Claws
Financial institutions shouldn’t underestimate the depth of regulatory complexity coming their way. A misstep in just one area — whether it’s KYC, AML or elsewhere — could unleash severe consequences.
Navigating a Non-Protocol Transition: What Every Advisor Needs to Know Before Making a Move From a Captive Firm or Broker-Dealer
Transitioning away from your current firm is always a big step, but leaving a non-Broker Protocol firm comes with unique complexities — and potential legal pitfalls — if you're not fully prepared.
What's the 10-Year Outlook for Major Asset Classes?
The global economy is continually evolving due to inflation, interest rates, and geopolitics. How could these and other factors influence the major asset classes over the coming decade?
The Infrastructure That Lets the Future Happen
If we lived in a world where mobile signals were visible, the sky would shimmer like a storm—layers of frequencies rolling over rooftops, crossing oceans and saturating valleys.
Stablecoins Bring Crypto to the Mainstream. What Could Go Wrong?
Stablecoins are a special flavor of cryptocurrency. Unlike Bitcoin or countless wildly traded memecoins, whose values rise and fall based on market moods, the most popular versions of these digital tokens are supposed to always be worth $1 each.
NFIB Small Business Survey: Optimism Recovered Slightly in May
The NFIB Small Business Optimism Index increased for the first time in five months, rising to 98.8 in May. The recovery was in large part due to owners expecting better business conditions and higher sales volumes.
Reverse Splits Start to Moderate After Hitting a Record High in Q1 2025
As we head into the second half of the year, US markets seem to be turning around, with economic data that is still coming in mixed. The major US indices were up the first three days of last week, dipping on Thursday after weaker back-to-back readings of the US labor market.
401(k) Podcast Warns Baby Boomers in Target Date Funds to Get Out
Investors nearing or in retirement who are currently defaulted into TDFs need to stop defaulting and move to safety now.
Employee of the Month: Term Life Insurance
As small business clients look toward ambitious growth, advisors have the chance to offer something foundational: a term life insurance strategy that turns ambitions into a legacy.
Stablecoins to the Treasury’s Rescue
Stablecoins and the concept of digital money represent a significant shift from the current system. While there are many risks with digital money, there is also promise.
Gold 2025 Midyear Outlook: A High(er) for Long(er) Gold Price Regime
Rebounding demand from ETF investors and resilient buying from central banks and Asia retail have propelled gold prices to fresh records north of US$3,000/oz. Find out why we believe there is more room to run.
Will the "Big Beautiful" Tax Bill Affect Munis?
The bill contains several tax-code changes that could affect municipal bonds, although we don't think it reduces the appeal of munis for high-income earners.
Apollo Eyes Germany as Private Credit’s Crush on Europe Heats Up
In sauna-like wooden meeting huts scattered around private capital’s annual marquee event in Berlin, executives are looking for the next hot spot.
The Big Four Recession Indicators: May Employment
There is a general belief that there are four big indicators that the NBER Business Cycle Dating Committee weighs heavily in their cycle identification process. This commentary focuses on one of these indicators: nonfarm employment. In May, total nonfarm payrolls increased by 139,000 while the unemployment rate remained at 4.2%.
Fixed Income Outlook: Cool and Cloudy
Bouts of volatility may continue in the second half of 2025 as bond market investors navigate evolving tariff policy, U.S. government debt, and economic uncertainty.
Barometer: Cautious on Equities as Us Flip-Flops on Tariffs
We remain underweight most developed market stocks as US tariff policy is still unclear but are more enthusiastic about emerging market assets.
Active EM ETF Offers Access to a Time-Tested Strategy
Since 2019 and the establishment of the ETF Rule, traditional active managers, armed with decades of expertise, have flocked to ETFs.
2025 Mid-Year Outlook: Global Stocks and Economy
Investors may revisit international exposure in their portfolios amidst reduced market reactions to tariff announcements, uncertain U.S. policy and lagging U.S. stock performance.
S&P Global Services PMI: Growth Strengthens in May
The May U.S. Services Purchasing Managers' Index (PMI) from S&P Global came in at 53.7, above the 52.3 forecast. The reading marks the 28th consecutive month of expansion and was a noticeable pickup from April's 17-month low.
Both Parties Need to Face Fiscal Reality
America’s holiday from history is over: Debt matters again. It is not just that the national debt is so big it cannot be ignored.
Questions to Ask Clients About Key Milestones
Here are some important insights and good open-ended questions to ask your clients to make sure they are thinking through life decisions.
The S&P 500, Dow and Nasdaq Since 2000 Highs as of May 2025
Here is a look at real (inflation-adjusted) charts of the S&P 500, Dow 30, and Nasdaq composite since their 2000 highs. We've updated this through the May 2025 close.
The Unbearable Burden of Waiting and Seeing
As investors grapple with nagging macro uncertainty, market volatility’s likely to continue. But we also see reasons for optimism — and new opportunities.
Three Areas of Focus as U.S. Earnings Strength Continues
Q1 company earnings painted a picture of corporate health as markets entered a period of trade tumult. Fundamental Equities CIO Carrie King discusses the importance of staying invested amid volatility, and outlines where there may be opportunities for long-term, fundamental investors to take advantage of market nerves to add to positions within enduring investment themes.
Use the Funded Status Metric & A ‘Surplus Bucket’ to Increase Spending in Retirement
Most clients are relatively conservative when it comes to determining how much they can afford to spend in retirement. All things being equal, clients would generally rather die with too much money than too little.
Bullish Highlights
Today I’m going to highlight some speakers who added an equity market perspective to their big-picture views. Getting both right would be much easier if more investors behaved rationally. Alas, they don’t, which is why stock prices do incomprehensible things. Fortunately, you can succeed without catching every twist and turn.
A Soft Housing Market Isn’t Just a Florida and Texas Story Now
House prices are falling, and it’s no longer just a Florida and Texas story. Rising inventory across the country and still reluctant buyers mean that those looking to sell face the prospect of more competition and lower prices next spring if they don’t close on a deal soon. For buyers, holding out can mean a better price.
The Big Four Recession Indicators: Real Personal Income Up 0.3% in April
Personal income (excluding transfer receipts) rose 0.4% in April and is up 4.3% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) was up 0.3% month-over-month and up 2.1% year-over-year.
Pending Home Sales Sink 6.3% in April
The National Association of Realtors® (NAR) pending home sales index fell more than expected in April, experiencing its largest monthly decrease since June 2022. The index came in at 71.3, the third lowest reading in the series' history.
Renewable Energy and Insurers: Tailor Made?
Matching assets to long-term liabilities without compromising on return potential can be a challenge for insurers with long-duration liabilities.
Housing Reforms On The Horizon?
Some of the most useful financial advice has a homespun tone, like to make hay while the sun is shining or save up for a rainy day. I recently encountered another helpful idea in that vein: Think of your house like a family member who is always sick.
Beyond Service Expansion: Why Better Client Communication Drives Growth
Clients aren’t asking their financial advisor to be everything. They’re asking for clarity and confidence in what matters most to them. Simplifying the client experience may be the most strategic move advisors can make.
40 Million Opportunities to Lead With Advice
In this article, I focus on five essential age-based milestones and life events that collectively present more than 40 million advice opportunities, enabling financial advisors to showcase their care and expertise beyond traditional investment strategies.
First Do No Harm: Strategies for Investing in a Turbulent Market
Let’s unpack the state of the markets today, explore where opportunities lie and review several strategies to navigate the months ahead.
Making Your Nest Egg Last As Long As You Do
How do you make sure your nest egg lasts as long as you do? Figuring out a safe withdrawal rate is tricky, because life is unpredictable. Markets and inflation rise and fall, tax laws change, and political philosophies come and go.
Wealth Planning in a League of Its Own: Guidance for Professional Athletes
Without proper financial guidance and planning, the end of their career could be followed by serious financial difficulties. While every athlete’s legal, tax, and financial picture is different, here are some of the topics that should be reviewed with athletes.
Existing Home Sales Inch Down 0.5% in April
Existing home sales inched down in April, reaching their lowest level in seven months. According to the National Association of Realtors (NAR), existing home sales fell 0.5% from March to a seasonally adjusted annual rate of 4.00 million units in April.
Private Credit Eyes Gap in US Infrastructure as Federal Funding Dips
Private credit firms are seeing an opportunity to finance everything from public transit systems to local utilities as the federal government and banks pull back on funding.
What Comes After the Sale? Turning Real Estate Liquidity Into a Long-Term Wealth Strategy
Selling your real estate portfolio, especially investment properties you and your family have held for years or decades, can be a complex process.
The Endowment Tax: Thoughts and Considerations for Investors
The Endowment Tax was introduced during the first Trump administration as part of the 2017 Tax Cuts and Jobs Act (TCJA).
Tailored Lending: A Strategic Tool for Sophisticated Individuals
Your financial requirements are multifaceted, necessitating strategies tailored to your specific needs. Tailored lending can be a valuable addition to a high-net-worth individual’s financial plan, helping you optimize cash flow, maximize tax efficiency and realize important estate planning goals.
Scared of Long Bonds? Get Used to Them
Long-term interest rates have become much less predictable, and that means volatile prices for long bonds.
A Building Boom on Federal Land? It Just Might Work
Amid the relentless chaos in Washington — tariffs, trade war, terminally rising deficits — at least one sensible idea has recently emerged: The federal government wants to free up more land to build homes. It’s a great ambition. The devil, as ever, will be in the details.
UnitedHealth Plunge Stunned Wall Street. One Analyst Saw It Coming
When CFRA’s Paige Meyer slapped a “sell” rating on UnitedHealth Group Inc. in February, she was the lone analyst out of 30 tracked by Bloomberg with a negative view of the company.
It Isn’t Selling. It’s Solving.
This isn’t about selling — at all. It’s about problem-solving and helping — it’s about offering an opportunity to change someone’s life. Remember, they can always say “no.”
Growing U.S. Debt – Trouble Ahead?
Last week I talked about the upward sloping Treasury yield curve, a welcome change from the inverted yield curve that lingered for years. The upward sloping curve means that investors are rewarded more for taking on duration.
The Man Who Built UnitedHealth Into an Industry Giant Now Has to Turn It Around
Stephen Hemsley never fully dropped the reins when he stepped down as UnitedHealth Group Inc.’s chief executive officer eight years ago. With the health giant in crisis, he’s taking back his old job – and confronting one of the toughest turnaround tasks any executive has ever faced.
Growth CDs: Access Stock Market Appreciation With FDIC Protection
By incorporating growth CDs into a diversified retirement plan, retirees can take advantage of equity market growth, protect their lifestyle, and avoid the fear of market downturns diminishing their savings.
Navigating the World of Tariffs: More Uncertainty, Slower Growth, & Investment Opportunities
Recent revisions to the IMF’s World Economic Outlook reflect a sobering message: the world economy is entering a more volatile and fragmented era.
A 401(k) in Every Pot? The Glidepath to Nowhere
Don’t allow your middle-aged clients depending on their 401(k) plan to fool themselves. Markets can’t rescue a failure to save until it hurts. And don’t let them kid themselves that a smoother ride with bonds won’t come at the cost of increased shortfall risk.
S&P 500 Notches Weekly Gain on Big Tech Strength, Trade Optimism
US stocks delivered their second-best weekly gain of the year on Friday, as Big Tech fueled a rally that brought the S&P 500 Index closer to an all-time high set nearly three months ago.
Hidden Healthcare Costs: Understanding Financial Security for Retirees
Retirement. It’s a phase of life that brings with it unique challenges, particularly when it comes to healthcare. In the U.S., the average lifespan is 79 years (compared to the global average of 73 years).
Weekly Economic Snapshot: Inflation Relief Meets Consumer Woes
While April brought further welcome news on the inflation front, underlying consumer fundamentals painted a more concerning picture.
The Future of the GSEs: Do No Harm
A rushed exit from conservatorship could increase mortgage rates and worsen home affordability.
India’s Power Play
So far in 2025, markets have had plenty to absorb: the Trump administration’s tariffs, Germany’s latest investment commitments, the implications of the DeepSeek moment, and escalating military conflicts (now including one on the India-Pakistan border).
NAHB Housing Market Index: Growing Uncertainty Drags Down Builder Confidence
Builder confidence fell sharply in May as uncertainty stemming from elevated rates, tariffs, building costs, and the cloudy economic outlook dragged builder sentiment to its lowest level in 18 months.
CD or Treasury? Five Factors to Consider
Certificates of deposit (CDs) and Treasuries both can offer steady, predictable investment income—but how to decide between them? Here are five factors to help you choose.
The S&P 500, Dow and Nasdaq Since Their 2000 Highs as of April 2025
Explore the performance journey of the S&P 500, Nasdaq, and Dow Jones since their peaks in 2000. This video analyzes how these key U.S. stock market indexes have navigated over two decades of economic shifts and technological change, revealing their distinct paths through April 2025.
4 Common Myths of Website User Experience
To help exemplify the importance of UX, I’m breaking down a few of the most common UX myths, along with the top recommendations to avoid the pitfalls associated with them.
Indicators Flashing Green for Agency MBS
In the report, Portfolio Managers John Kerschner, Nick Childs, and Thomas Polus highlight three reasons why agency mortgage-backed securities (MBS) look attractive in the present environment.
Fiduciary & Compensation
There is much serious discussion about the “rule of law” today. This discussion is good and should be applied to the affective meaning of fiduciary today. Pressures from the brokerage and insurance industries over the past 20 years have effectively nullified the clear purpose of the IAA and the Supreme Court decision in 1963.
How to Cut US Drug Prices Without Hurting Innovation
The price of Wegovy, Novo Nordisk’s blockbuster weight-loss drug, is $1,349 a month in the US; in Germany, it’s $328. The US price for Keytruda, a cancer treatment, is $191,000 a year; in Japan, it’s $44,000.
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.
A Gameplan for Healthcare Investing Amid Policy Uncertainty
In the report, Portfolio Managers Andy Acker and Dan Lyons say that despite growing policy uncertainty, plenty of healthcare companies have managed to put up big returns.
Increased Risks to Both Sides of the Dual Mandate
At Wednesday’s press conference, Chair Jay Powell signaled a wait-and-see approach, as the Fed keeps a close eye on inflation pressures and the job market.
Wall Street Brings the Bitcoin-Versus-Gold Clash to ETF Masses
The culture clash between Bitcoin enthusiasts and gold bugs is about to be played out in the world of exchange-traded funds.
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.
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.
Walking the Tightrope: Trend Following’s Tricky Tradeoffs
Trend-following strategies can offer attractive, positively skewed returns, with large positive outperformance often coinciding with large equity selloffs, thereby offering tail protection.
Buffett’s Astonishing Track Record in Five Charts
Warren Buffett, the greatest investor of all time, will step down as chief executive officer of Berkshire Hathaway Inc. at the end of the year. The six-decade track record he leaves behind is so astonishing that mere numbers on a page don’t do it justice.
The Hidden Cost in Investing: Negative Compounding & the Opportunity Cost of Fees
This article focuses on asset-based fees that cover both advice and investment-related costs, which is a model that I believe is best-suited for most individuals, as advisors can add value across multiple dimensions.
Big Tech Breathes Life into Q1 Earnings
Results from some of the Magnificent 7 names last week reignited the AI trade. Both Meta and Microsoft reported after-the-bell on Wednesday, blowing past analyst estimates
Warren Buffett, Investing’s Philosopher King
Now that Warren Buffett, the philosopher king of modern investing, has announced that he will step down as Berkshire Hathaway Inc.’s chief executive officer at the end of the year, it’s a good time to marvel again at his career.
Warren Buffett Caps a Career Built on Humility
Warren Buffett is stepping down as chief executive officer of Berkshire Hathaway Inc., the company he built alongside his later partner Charlie Munger for the past six decades.
Buffett Hands Successor a Giant Cash Pile and Many Questions
Warren Buffett picked the final minute of his 60th shareholder meeting to drop a long-awaited announcement that was still completely surprising for his fans, most of his board and even his successor.
The Awards You Never Get When Investing
In investing, success is often judged by numbers—returns on investment, percentage gains, and the ability to outperform benchmarks like the S&P 500. However, some investors frequently pursue a peculiar set of “awards” without realizing the pitfalls they embody.
Aim to Keep Risk Modest and Quality High
In this article, Russ Koesterich discusses the ongoing uncertainty around tariffs and how investors can protect their portfolios against the potential for an environment of prolonged and heighted volatility.
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.
Morgan Stanley Plans to Offer Crypto Trading to E*Trade Clients
Morgan Stanley is working on a plan to add cryptocurrency trading to its E*Trade platform, in what would be the most significant move by a major US bank to help everyday customers buy into the asset class since the Trump administration began removing regulatory barriers.
Warren Buffett Is Wrong About Gold
Famous gold skeptic Warren Buffett is right about the dangers of inflation when it comes to non-producing assets, but he’s never been a fan of gold. Monetary Metals has transformed gold into a productive asset by generating a yield on gold, paid in gold, proving Buffett wrong about gold and giving investors new ways to own this timeless asset.
Why Stable Value is Critical in Retirement Plan Menus
Stable value funds can offer capital preservation and stable returns. Our Mike Dullaghan explains the key role of stable value in long-term retirement savings.
Don't Watch "Cash on the Sidelines"
As we have written…The Era of Easy Everything is ending. Part of this involves bringing inflation back to the Federal Reserve’s target of 2.0%. We could debate that number, but the Fed is getting closer.