Pave Finance, Inc. (“Pave”), the next-generation wealth management platform, has today announced its integration with Fidelity, one of the world’s largest registered investment advisory custodians and retail brokerage firms.
The rise of AI follows a fundamentally different competitive logic than earlier technological revolutions. With massive capital requirements, high operating expenses, low switching costs, and intensifying regulatory scrutiny, success will depend less on scale and more on financial resilience and political influence.
Amplify ETFs had an impressive year in 2025, outperforming the broader market in both asset growth rate and performance across its thematic and income-oriented suites.
It was a volatile week in financial markets, largely driven by geopolitical developments. Last weekend, the U.S. administration proposed new tariffs on several European countries linked to tensions around Greenland.
Healthcare stocks were rattled by US policy uncertainty in 2025. But signs of resilience have surfaced as the sector reaffirms its defensive strengths and growth potential, sparking a shift in investor sentiment.
According to what has been announced so far, the government plans to restrict future purchases of single-family homes by large institutional investors. It would not force them to sell homes they already own, nor would it affect individual buyers or small landlords.
As we enter 2026, the U.S. economic momentum continues based on the foundation of a solid private sector with fiscal and monetary policies also contributing to growth. As we refine our global asset allocation, we maintain a diversified overweight stance on U.S. equities despite relatively high valuations.
The dollar is in no danger of losing its status as the primary global reserve currency, but de-dollarization is chipping away at its dominance. It’s clear we’re moving toward a “multipolar” world where several currencies, along with gold, are making up a growing share of global reserves.
Recent acquisition deals highlight asset managers’ race to capture the booming demand for model portfolios and outsourced investment solutions.
Year-end S&P 500 price targets implicitly assume continuity and fail to recognize volatility and macro forces that affect markets throughout any given year.
Economists have company when it comes to being upbeat. The consensus economic outlook has led to optimism from analysts, who are forecasting strong earnings growth.
As we begin 2026, I want to address a sector that experienced one of the most dramatic fundamental disruptions in recent years: managed healthcare. Historically, the largest managed healthcare companies have been among the most consistent earnings growers in the market. However, in 2025, many of these companies “hit a wall,” suffering unprecedented declines in operating earnings.
Janus Henderson Group, a leading global asset manager, today announced it has entered into a definitive agreement to acquire 100% of Richard Bernstein Advisors (“RBA”), a research-driven, macro multi-asset investment manager. The acquisition positions Janus Henderson as a leading model portfolio and separately managed account (SMA) provider.
Financial stress often shows up in the bond market well before it becomes visible elsewhere. Equity markets can remain calm while pressure quietly builds underneath the surface.
The whole world may be talking about AI nonstop right now, but that doesn’t mean other tech segments are falling off. Some are actually outperforming. Blockchain ETF BLOK, for example, has significantly outperformed its ETF Database Category average over the last year.
Investors were thrown another tariff curveball, with the U.S. administration declaring that unless a deal for the U.S. to acquire Greenland can be reached, a 10% tariff will be imposed on eight European countries (Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands and Finland) effective Feb. 1.
When investors think about risk in equity portfolios, the usual suspects come to mind: market risk, sector risk or maybe even macroeconomic risk. But lurking beneath the surface is a less obvious, often underestimated threat—style and factor risk.
Each spring, investors in individual publicly traded companies get a chance to voice their opinions as the companies whose stock they own prepare for their annual shareholders’ meetings.
In the investment business, it’s common to address not only what occurred during the past twelve months but also to provide an assessment of future prospects.
LPL Financial LLC announced today that financial advisors Jeffrey J. Wilson, CFP®, and Michael Sadowski, CFP®, of Wilson Peak Wealth Management Inc. have joined LPL Financial’s broker-dealer and Registered Investment Advisor (RIA) platform and will be leveraging Private Advisor Group’s infrastructure for the next stage of their growth.
Looking ahead to 2026, Franklin Templeton Fixed Income Municipal Bond Director Ben Barber says there are a few key factors that will likely shape the municipal bond market.
With 2025 in the books, it will be a difficult year to top for fixed income exchange-traded funds (ETFs), but Morningstar is predicting more excitement to come. That should keep fixed income investors fixated on what new developments the space brings this year.
Our view from the portfolio management desk is that there seems to be a concurrent affordability crisis in the public stock markets as well. The biggest names appear to be “priced for perfection” at this moment.
2025 will go down as another year of record-breaking achievements for exchange-traded funds (ETFs). Among the past year’s highlights was a record number of mutual funds converting to ETFs, as noted by Ben Johnson, Morningstar Head of Client Solutions, via a LinkedIn post.
U.S. fourth-quarter earnings season began with major banks reporting results that were generally stronger than expected. Most large banks beat earnings forecasts, with many also exceeding revenue expectations, reinforcing our view that the U.S. economy remains in a healthy state.
Investors have reaped the benefits of good market conditions in many of the recent years. These periods are ideal for wealth accumulation.
The key point, in our view, is that this combination of shocks is not likely to be an isolated occurrence in 2026 or beyond.
Despite the broadening-out call in early 2024, narrow market breadth persisted through 2025. In 2025, around one-third of S&P 500 constituents beat the overall Index, but more than 60% are outperforming year to date in 2026.
Residential mortgage loans offer insurers a combination of yield, diversification, capital efficiency and liquidity that we think is difficult to replicate elsewhere in private credit. In a market shaped by structural housing undersupply, strong borrower credit and expanding non-agency issuance, we believe residential mortgages present a timely and scalable opportunity.
As the new year begins, one market theme is already attracting plenty of attention, and that is the dispersion and broadening out in the stock market that has occurred during the first two weeks of trading.
Greenland has reemerged as a center of geopolitical attention. Its location midway between Washington and Moscow, combined with its position along maritime routes linking the Arctic and Atlantic Oceans, has long made it a focal point for trade.
Geopolitical tensions have escalated following President Trump’s renewed intent to acquire Greenland. Franklin Templeton Institute’s Kim Catechis explores the implications.
It was a sea of red to kick off the holiday-shortened trading week yesterday. President Trump’s ambition to annex part or all of Greenland drew backlash from European leaders.
In the last 10-plus years, investors have grown accustomed to Japanese financial assets lagging their global counterparts.
Seven hundred billion dollars. That’s the figure being floated as the potential price tag for acquiring Greenland, according to recent reporting. Call me skeptical, but I don’t think anyone’s cutting a $700 billion check anytime soon. For comparison’s sake, that’s more than half of the Defense Department’s entire 2024 budget.
GMO has posted a new 7-Year asset class forecast as of December 31, 2025.
2026 is coming out of the gate quickly. In just the first two weeks, we’ve seen a flurry of headlines – rapid-fire policy proposals, legal uncertainties, and fast-moving geopolitical developments – all with the potential to influence the economy and financial markets.
Despite a fair amount of news and histrionics in the fourth quarter, stock and bond returns were relatively modest. The S&P 500 posted a moderate rise of about 2.5% and the TLT bond ETF lost about 1%.
Markets pushed to new highs again last week as investors looked past headline inflation noise and focused on improving breadth beneath the surface.
Several dynamics have converged to drive silver higher, including spillover effects from the gold bull market, steady industrial demand, surging investment demand, inflation, and geopolitical uncertainty. However, one factor is the key driver – there isn’t enough metal.
We are in the midst of a tech-led investment boom supporting what some think is a transformational technology. The annualized pace of U.S. productivity growth was 5% in the third quarter of last year, well above the long-term average.
After rising to its highest level in four years during the last quarter of 2024, the Late Earnings Report Index, our proprietary measure of CEO uncertainty, has now recorded five consecutive quarterly readings below the historical benchmark as companies prepare to report their Q4 results.
The MSCI Emerging Markets index rallied more than 30% in U.S. dollar terms, easily outpacing the S&P 500 and other developed market benchmarks. And many are expecting that broader outperformance to continue in 2026 – thanks to a combination of macro developments, valuations and AI exposure.
The champagne has gone flat. After months of planning the great breakaway, signing independence paperwork, and celebrating freedom from wirehouse constraints, newly minted registered investment advisors (RIA) owners face a sobering reality. They've traded a boss for a back-office burden that's quietly strangling their growth.
AI productivity gains will demand active solutions, not government gifts. Skill development, apprenticeships, employer-based training, wage insurance, and mobility support. These tools address displacement directly, while UBI does not.
Today, we continue my 2026 economic and market forecast. Last week, I described our current environment as The Bipolar Economy, and noted that the real goal here isn’t to tell you what will happen. It’s to help you know what could happen so you can be prepared.
Despite the influx of tariff revenue, the federal government continues to run a massive budget deficit. The December budget shortfall came in at $144.75 billion, a record for the month. That was 68 percent higher than December 2024.
The U.S. and global economy remain on solid footing. We don’t believe recent geopolitical developments pose a systemic risk to markets at this time
We expect another generally good year for bond returns this year, but even the best-laid plans can go awry when circumstances change. Here are four risks to our outlook.
For investors navigating an uncertain macro landscape, avoiding the wrong narratives may matter more than predicting the right numbers.
