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Elaine Misonzhnik , Senior Editor, Investments June 23, 2025 4 Min Read Iaremenko/iStock/Thinkstock Investor interest in digital assets might be growing, but concerns about the security and regulatory uncertainty around the asset class mean that Bitcoin and crypto ETFs remain the most likely avenues for allocation.
Following the long run-up in the US equity markets since the bottom of the 2008–2009 financial crisis, many investors with taxable investment accounts have likely found themselves with high embedded gains in their portfolios. While the gains signal portfolio growth, they also create challenges for ongoing management.
The probabilities make it clear that a broad index should be the core of your portfolio; if you want to put your own spin on it, feel free to try. But the key takeaway remains this: Portfolios cannot achieve Alpha if they are not at least getting out with Beta. ~~~ Do you need help with your assets?
Third-party model portfolios had $646 billion in assets under management as of March 31—an increase of 62% since June 2023, according to Morningstar. While more than 60 asset managers have filed for dual-class share structures, many firms may never launch them, Ignites reports.
While many firms have historically relied on commission-based compensation methods – reflecting a sales-driven approach – financial advice has evolved with technological advancements and a greater focus on financial planning, with the Assets Under Management (AUM) fee emerging as the primary compensation model.
Richard Ennis, investment consulting pioneer, argues alternative investments underperform and drain billions from portfolios, contradicting Wall Street's golden age narrative.
Pete is the Director of Sustainable Investing of Earth Equity Advisors, an RIA based in Asheville, North Carolina, that oversees approximately $200 million in assets under management for 250 client households.
The Vanguard High-Yield Active ETF would trade under the ticker VGHY and invest at least 80% of its portfolio in high-yield debt, according to a Tuesday filing with the Securities and Exchange Commission. Active is 10% of ETF assets now — lots of room to grow.” trillion US exchange-traded fund arena.
He eventually became president of Merrill Lynch Asset Management, leading the division with a value-oriented approach and a focus on long-term fundamentals. He co-authored Investment Analysis and Portfolio Management , now in its fifth edition. Most investors underestimate the stress of a high-risk portfolio on the way down.
The move nearly doubles the number of institutional, no transaction fee (INTF) funds available through Schwab’s platform to approximately 2,000 from 58 asset managers. Related: Morningstar: Fee War Among Asset Managers Plateaus Previously, the program included about 1,200 funds from 25 managers.
Anjali is the Founder of FIT Advisors, an RIA based in Torrance, California (but works virtually with clients nationwide) and oversees $65 million in assets under management for 45 client households. My guest on today's podcast is Anjali Jariwala.
The banking industry reported an aggregate return on assets of 1.16 Asset Quality Metrics Remained Generally Favorable, Though Weakness in Certain Portfolios Persisted Past-due and nonaccrual (PDNA) loans, or loans that are 30 or more days past due or in nonaccrual status, fell 1 basis point from the prior quarter to 1.59
For investment management services, documenting the entire client engagement – such as onboarding, reviewing and recommending portfolio adjustments in line with collected suitability information, opening and funding accounts, conducting periodic reviews, and rebalancing – can help clearly evidence the services provided.
Answering it well requires a range of assumptions – from estimating average investment returns to understanding correlations across asset classes. These assumptions are rooted in Capital Market Assumptions (CMAs), which project how different assets might perform in the future. Read More.
The WealthStack Podcast: Unlocking Private Markets with AssetMarks Michael Kim The WealthStack Podcast: Unlocking Private Markets with AssetMarks Michael Kim AssetMarks Michael Kim unpacks how technology, education and private equity access are converging to redefine portfolio construction.
At the Money: Lessons in Allocating to Alternative Asset Classes. Investors have lots of questions when allocating to these asset classes: How much capital do you need? What percentage of your portfolio should be allocated? How should investors approach these asset classes? or more challenging.
A client reaches Coast FIRE when their retirement savings are projected to grow – without further contributions – into a portfolio large enough to support their anticipated future retirement spending needs. This creates an opportunity for financial advisors to help clients assess whether Coast FIRE is sustainable (e.g.,
youtube.com) Jeff Bernier talks with Larry Swedroe about the the evolving role of alternative assets like private credit and reinsurance in modern portfolios. Podcasts Michael Batnick talks with Jason Wenk, CEO of Altruist, about the changing custody landscape.
Below I pasted an exchange I had with Copilot about a portfolio consistent with what we often blog about. Evaluate the following investment portfolio and compare it to VBAIX. Evaluate the following investment portfolio and compare it to VBAIX. What adjustments can I make to enhance my portfolio? in QLEIX, 4.5%
It can be designed to accentuate your best features, made in a color and style that will both please you and be appropriate for the occasion in which it will be worn. The same is true of investment portfolios. A personalized portfolio enables you to consider more than just what generally works for most people.
kitces.com) Josh Brown and Nick Sapienza break down a real-life case study of couple with $3 million in assets and a desire to retire. semafor.com) The model portfolio business continues to take share. (youtube.com) Michael Kitces talks compliance with Leila Shaver, founder of My RIA Lawyer.
Innovative CPA Group, which has been doing accounting and tax work since 2017, this month launched Innovative Asset Advisors Group, an RIA focused on investment management, financial administration, tax planning and preparation, and estate and trust strategies. For me, this is a culmination of 35 years of experience,” Minopoli said.
Modern Portfolio Theory (MPT) has long served as a foundational framework for asset allocation and portfolio construction. Can Modern Portfolio Theory Still Teach Us Any Lessons Today? This concept remains influential in both academic finance and practical investment management.
Most of these gains in Treasury and Agency MBS assets were funded with increases in very short duration interest-bearing Federal Reserve liabilities, mainly deposits of depository institutions (reserves) and Reverse Repos. After all, Treasury notes close to maturity are by their nature short maturity assets!)
We discuss: – The limitations of dividend-focused investing strategies – Asset allocation insights from the Talmud – A different perspective on the Fed’s recent performance – Meb’s view on wealth as a means to freedom – The case for significant trend following allocation in portfolios – The question Meb (..)
But 20 years is a long time and most of us aren’t disciplined to let our assets sit around for 20 years because we live our lives in the present. It’s a long-term instrument that exacerbates that asset-liability mismatch in our lives. Of course, you can build multi-assetportfolios many different ways.
Investors should consider this when they create a portfolio. It should contain enough risk assets—primarily stocks—to benefit from the expansion of the economy and gains in corporate earnings. And, we never know when that Boulder, which disrupts everything, will come along. However, it should not be so risky as to be problematic.
Also in industry news this week: Why the announced acquisition of RIA custodian TradePMR by retail brokerage firm Robinhood could prove to be a boon for RIAs on TradePMR's platform, who could receive a wave of referrals from Robinhood's massive base of next-generation retail clients How Morningstar is cutting the "Medalist Ratings" of thousands of (..)
For many financial advisors, a core part of the retirement planning process involves simulating whether the client's assets will last through retirement. It's about developing a dynamic spending plan (e.g.,
Nina is a partner of Stratos CA, a hybrid advisory firm affiliated with Stratos Wealth Partners and based in Los Angeles, California, that oversees approximately $500 million in assets under management for 300 client households.
The aggregate return-on-assets ratio (ROA) increased 3 basis points to 1.12 Asset Quality Metrics Remained Generally Favorable, Though Weakness in Certain Portfolios Persisted Past-due and nonaccrual (PDNA) loans, or loans 30 or more days past due or in nonaccrual status, increased 7 basis points from the prior quarter to 1.60
See also Lazy Portfolios rolling returns. Plus bonds down 15% – the first double-digit drop for both asset classes in 4 decades. I am not necessarily claiming a regime change is upon us; rather, it is a reminder of what happens when secular trends in markets reverse.
I wanted to have a little more fun with portfolio construction comprised of ETFs that " no one should use." Below, leverages up the Permanent Portfolio. Portfolio 1 just levers up the stocks, gold and bonds. Portfolios 1 and 2 lagged VBAIX over the backtested period but were quite a ways ahead of the PRPFX mutual fund.
She explains the importance of matching your assets to your future liabilities, and why liquidity and quality are so important. Peneva joined Swiss Re in 2017, becoming co-head of client solutions & analytics, before being named Group Chief Investment Office and member of the Group Executive Comittee in 2023.
If you own 10,000 shares, you receive $40,000 in dividend income (before taxes) and have a portfolio currently worth $2M. You’ll receive the same $40,000 in dividend income and the value of your portfolio drops to $1.5M. Dividend paying stocks and funds can be a great addition to a portfolio.
The report suggests this might be due in part to increased RIA valuations and the assumption of some firm founders that next-generation employees won't be financially able to buy out the firm from them, though additional data indicates that many firms don't have career paths in place that could help next-generation advisors envision their path to firm (..)
This week, I speak with Christine Phillpotts , Portfolio Manager for Ariel Investment s emerging markets value strategies. Previously, she spent 10 years at AllianceBernstein as Portfolio Manager and Senior Research analyst in emerging markets. She also worked as JPMorgan Asset Management equity research associate for US Tech.
Because of these differences, stocks and bonds accomplish different things in an asset allocation. Bond Basics: How Bonds Work and Reasons to Add Bonds to Your Portfolio Stock vs bond historical returns by calendar year Investors dont hold bonds to outperform stocks over the long run. Morgan Asset Management.
Let's dig in some more on Permanent Portfolio quadrant style. AQR Multi-Asset (AQRIX) used to be called Risk Parity and it also does some quadranty stuff. I would say, that if the United States Sovereign Wealth Fund ETF that I made up is best performer in a portfolio, then maybe things in the world aren't going so well.
Um, and he’ll proudly say I only spend 2% of my portfolio per year, whatever the value is. Portfolio’s, high watermark to think, well, if it’s here, I never wanna see it go lower. So we’re talking about spending in retirement and, but we have yet to talk about drawing down portfolios. You can get, uh, a.
Barron's had a very quick look at the recent popularity of private assets to try to figure out whether investors should wade into the space. Another snippet from Barron's was the suggestion from Thad Davis of Aureus Asset Management to allocate 7% of a portfolio to private credit to get a 7% spread over SOFR which works out to 11-12%.
trillion in assets. finfluential.substack.com) A review of "The Behavioral Portfolio: Managing Portfolios and Investor Behavior in a Complex Economy" by Phillip Toews. (investmentnews.com) JPMorgan Chase ($JPM) has launched a solo 401(k) solution. citywire.com) Charles Schwab ($SCHW) is done fighting crypto.
Investors have lots of questions when allocating to this trading asset class, including how much capital do you need? What percentage of your portfolio should be allocated? Chasing that performance has led the hedge fund space to swell to over 5 trillion in assets today, with forecasts topping 13 trillion globally by 2032.
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