Brightline has reached a deal with municipal-bond insurer Assured Guaranty Ltd. that would provide the debt-laden Florida railroad with at least $350 million in new loans if it heads into Chapter 11 bankruptcy, according to people familiar with the matter.

Advisors who build a third-quarter planning call into their process tend to see fewer IRS notices land on their clients' desks. Tax season teaches clients to think about taxes once a year. The advisors who win their trust are the ones who think about taxes all year round.

An estimated $124 trillion is expected to transfer through 2048, including about $105 trillion to heirs. We have spent a great deal of time estimating the value that will transfer from one generation to the next. However, if advisors expect to maintain the value received, we should be equally interested in whether the value we provide in exchange is evolving with it.

Billing and compensation may not be glamorous, but they're foundational. And for leadership teams, the question isn't only whether software can be built faster with AI. It's whether they want to own the budget volatility, compliance exposure, integration complexity, support responsibility, and distraction of running an internal platform this close to revenue.

There is a reasonable argument that population decline is not a catastrophe. Fewer people means less pressure on housing, energy, and food. Automation may cover some of the missing labor, and countries have absorbed demographic shifts before. Those adjustments take decades, though, and you will likely retire before they finish.

Regional lenders Truist Financial Corp. and Fifth Third Bancorp. have paused distribution of products tied to billionaire financier Mark Walter’s biggest insurance firm, according to people with knowledge of the decisions.

Not since 2006 have yields on the longest-maturity Treasuries been this high for this long, with a gaping budget deficit, another wave of corporate issuance and a potentially decisive Federal Reserve meeting set to keep investors wary of US debt in coming weeks.

T. Rowe Price Group Inc.’s chief executive officer sees tax-loss harvesting strategies as a growth area, but remains confident that its offerings won’t draw regulatory scrutiny.

An almost-vertical rally in gold-miner stocks in the past month is whetting the appetite of investors who have been whipsawed by messages from Washington policymakers.

As government bond yields across the world erupt, corporate credit has rarely looked calmer. Yet even in that market, about $1 trillion of bonds are telling a much different story.

Over seven years ago, I wrote a piece using the 1960s TV sitcom Gilligan's Island to provide a simple example of why productivity is the most important driver of economic growth. In this article, I present the next episode of Gilligan’s Island, describing what happens after the benefits of innovation stop driving economic growth.

Most of us keep a chunk of cash on hand — for rent, groceries, the occasional emergency, or simply because we haven’t gotten around to investing it yet. In the finance industry, this is called your “float.” We think the single best thing most people can do with it is own a Treasury Bill ETF — and yet almost nobody does.

The TDF industry is an oligopoly where four firms dominate more than 75% of the $5 trillion market. Competitors that are desperate for market share have turned to “managed” QDIA accounts — a gimmick masquerading as personalization.

The US plans to use its newfound assertion of control over billions of barrels of Venezuelan crude oil to refill the nation’s depleted emergency reserve, President Donald Trump said Sunday.

Anthropic PBC’s IPO is casting a long shadow over companies’ US listing plans, as they try to find room for their deals to grab attention after the Sept. 7 Labor Day holiday.

For the first time in his three months on the job, Federal Reserve Chair Kevin Warsh said the right things. In his keynote speech Friday at the Federal Reserve Bank of Kansas City’s annual central banking event in Jackson Hole, Warsh acknowledged that inflation was elevated and widespread, and had been been so for “far too long.”

Even more so than usual, Hollywood’s future is uncertain. For decades the Los Angeles economy revolved around the film industry, but now more movies and shows are filmed elsewhere, driven or lured away by high expenses or tax incentives.

Bond investors at firms including ABN AMRO Investment Solutions and Brandywine Global Investment Management are voicing skepticism about mounting speculation that Federal Reserve Chairman Kevin Warsh is poised to raise interest rates.

Nvidia Corp. is not only tightening its grip on artificial intelligence, it’s also absorbing the companies fighting to keep the industry open and decentralized. On the same day the chip giant announced quarterly revenue that had doubled and would continue rising next year, sending its shares up 7%, news broke that it has reportedly agreed to spend $13 billion on Hugging Face, a platform for open-weight AI models.

Copper is having a moment. It may be a long one. The metal has hit record highs in 2026 and is currently up 15% since the start of the year, trading above $14,300 a ton on the London Metal Exchange.

Convertible bond investors chasing exposure to the artificial intelligence boom are giving up some of the protection they would normally demand, pushing the market toward levels of risk-taking last seen during the pandemic.

A chorus of investors is urging Federal Reserve Chairman Kevin Warsh to express a strong determination to deal with high inflation to boost the long end of the Treasury market.

Most residents of rich, Western countries have relatively high earnings, but many also feel they can’t afford a reasonable lifestyle. Americans, for example, are getting richer but also more unhappy. Meanwhile Eastern Europeans, not generally known for their cheery disposition, are most satisfied with their comparatively lower income.

Kevin Warsh’s inauspicious start as chairman of the Federal Reserve has guaranteed that his speech on Friday at the central bank’s annual Jackson Hole conference will command rapt attention. He might wish it were otherwise: Investors demanding clear answers to their many questions are almost certain to come away disappointed.

High indebtedness has prompted a call for France to cancel part of its public liabilities. Ideas spread, so expect similarly unorthodox demands elsewhere as governments grapple with high debt, while political disruptors air increasingly unconventional policies. All those roads, however, lead to more inflation and the debauchment of financial assets.

Investors are no longer choosing between gold and Bitcoin as hedges against fiscal anxiety. They’re buying both.

A blockbuster outlook from chip darling Nvidia Corp. is providing a boost to tech stocks and lifting key equity indexes Thursday morning, adding to investor optimism about the AI cycle.

The US Army is planning to deploy small reactors to power five bases across the country, investing $2.2 billion to accelerate the Trump Administration’s efforts to boost America’s nuclear industry.

The irony is that the advisors who most need to delegate are the ones who find it hardest. You need to stop being the hero of every story. There are four reasons why, and every one of them is a story you tell yourself.

I was recently asked how to instill accountability and urgency in this next generation. Set expectations and offer guidance. Remember, this is a generation that largely grew up not speaking to other people and definitely not calling anyone.

When a typical business finds its supply chain costs have risen, it will absorb the increase to keep its customers happy. Nvidia isn’t a typical business. It enjoys gross profit margins of 75% and commands between 70% and 90% of the global market for artificial-intelligence chips.

The US economy expanded at an unrevised 1.5% pace in the second quarter, though underlying details showed stronger consumer spending and business investment than initially reported.

Vanguard, known mostly for its low-fee index funds, will add Altruist’s wealth technology and custody platform, the firm said in a statement Wednesday. It didn’t disclose terms.

The future of geothermal energy, a renewable source that has charged up conservatives and liberals alike, is being charted in a scrubby patch of sagebrush, halfway between Las Vegas and Salt Lake City.

Recent Kitces’ research found no meaningful difference in wellness between advisors who worked in a traditional office versus at home or elsewhere. What did matter was alignment: Advisors thrived when they had the flexibility to work in an environment that matched their personal preferences.

When the Electronic Numerical Integrator and Computer, or Eniac, was first built by the University of Pennsylvania for the US Army in 1946, it weighed about 30 tons and had 18,000 vacuum tubes that filled an expansive room.

Today, many clients expect their financial advisor to be involved in the estate planning process — and they’re willing to switch advisors to find one who offers this expertise, according to a July report by digital estate planning platform Trust & Will.

I wrote several years ago that the only thing you can count on the stock market to do is fluctuate, and that the wisest response is usually to do nothing. Looking less often will not change your return. It will make you far less likely to damage the return you already have.

The WealthTech market has a serious AI-washing problem. The term borrows directly from a parallel wealth management executives already understand. Just as greenwashing described investment managers who marketed ESG commitments they could not substantiate, AI washing describes technology vendors who relabel rules-based automation as artificial intelligence.

Kevin Warsh’s first major speech as chairman of the Federal Reserve has become an unexpected trial of his slimmed-down communications style.

US stocks advanced on Tuesday as technology names rallied and investors continued to prepare for Nvidia Corp. earnings and the Jackson Hole Symposium.

Treasuries gained as a decline in crude oil eased inflation concerns and the pressure on Treasury Secretary Scott Bessent, who has been moving to halt a months-long selloff that pushed the longest-dated yields to the highest in almost two decades.

The artificial intelligence trade is booming, and so is the hunt for new ways to diversify AI exposure. Traders can buy power futures, track the technology’s beneficiaries and back data-center real estate projects, alongside buying the usual haul of chipmaker shares.

Yields on 30-year US bonds broke 5% last week, a level not seen since before the Great Financial Crisis. The Treasury Department bought bonds in an attempt to lower yields. It worked — for a day, then bond yields went back up. Meanwhile, in a not-exactly-unrelated development, the US national debt just passed $40 trillion.

When portfolios become standardized, investor experience becomes standardized right along with them, even though almost nothing else about those investors is standard. Their goals, tax exposure, risk tolerances, and individual spending needs are too individualized to be captured by many models that purport to be customized.

While it is useful to analyze holdings by asset class, a portfolio-wide view can provide additional insights. Typically, the bond sleeve and the equity sleeve are seen as entirely separate. However, they usually hold unnoticed concentrations in different companies.

Amazon.com Inc.’s Andy Jassy has begun making an audacious boast during conference calls this year. Though his company remains a top Nvidia Corp. customer, it’s also one of the world’s largest makers of data center chips in its own right.

US stocks traded lower before the bell on Monday as investors prepared for a busy week of economic data and important earnings from Nvidia Corp.

The question facing advisors is no longer whether clients can hold digital assets, because many already do. It is whether the firm can explain, in writing, how each position was sized, why a particular product was chosen, and where that decision is recorded. Most firms cannot, and that gap is the exposure.

The Treasury Department could opt to draw down some of its cash pile to fund expanded buybacks of higher-yielding, older securities, CNBC reported Monday, citing two senior Treasury officials.