Builder confidence inched up in January to its highest level in 9 months on hopes for economic growth and an improved regulatory environment. The National Association of Home Builders (NAHB) Housing Market Index (HMI) rose to 47 this month, up one point from December. The latest reading came was above the forecast of 45.
The latest updates on the labor market and consumer prices show President-elect Donald Trump inherits an economy where inflation is poised to return to the Federal Reserve’s target later this year.
In the week ending January 11th, initial jobless claims rose or the first time in five weeks. Initial jobless claims were at a seasonally adjusted level of 217,000, an increase of 14,000 from the previous week's figure. The latest reading was worse than the 210,000 forecast.
Amid an unsettled global economic outlook and elevated equity valuations, bond markets present attractive yields and important diversification benefits.
Use this guide to transform our 2024 Retirement Insights into action in 2025, focusing on areas of plan design, tax credits and participant engagement. Our Mike Dullaghan shares the highlights.
Although we are loath to make predictions, conditions appear to be favorable for fixed income in the coming year, and we think investors should consider adjusting their allocations accordingly.
Let's do some analysis of the Consumer Price Index, the best-known measure of inflation. The Bureau of Labor Statistics (BLS) divides all expenditures into eight categories and assigns a relative size to each. The pie chart illustrates the components of the Consumer Price Index for Urban Consumers, the CPI-U.
The median US income in 2023 was $80,610, up from $22,420 in 1984 — a 260% rise over the 39-year time frame. However, if we adjust for inflation chained in 2023 dollars, the 1984 median is $55,828, and the increase drops to 37%.
On top of the human tragedy they’re still inflicting, the Los Angeles wildfires are exposing a gap between what people thought their homes were worth and what they’ll actually get from insurance companies when those houses have been reduced to ash. Potentially thousands of homeowners are learning it won’t be nearly enough.
Inflation ticked up in December while core growth slowed. According to the Bureau of Labor Statistics, the headline figure for the Consumer Price Index rose to 2.89% year-over-year, right in line with economist expectations. Additionally, core CPI came in lower than expected, slowing to 3.2% year-over-year.
Engaging up front with four key workstreams may smooth the process of adding a solution.
We need to face the reality that we’ve chosen a system that prioritizes lower taxes over centralized health care.
Private equity wants access to Americans’ retirement accounts, and is lobbying President-elect Donald Trump’s administration to get it.
The journey from niche asset to core allocation looks set to continue.
Our commentary on household income distribution offers some fascinating insights into average U.S. household incomes, but misses the implications of age for income. In this update, we examine household income with a focus on age bracket.
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?
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 those indicators, nonfarm employment. December saw a 256,000 increase in total nonfarm payrolls and the unemployment ticked down to 4.1%.
A few months ago, the Census Bureau released its annual report on household income data for 2023. During 2023, the median (middle) average household income rose 8.0% to $80,730. Let's take a closer look at the quintile averages, which dates from 1967, along with the statistics for the top 5%.
In the week ending January 4th, initial jobless claims fell to their lowest level since February 2024. Initial jobless claims were at a seasonally adjusted level of 201,000, a decrease of 10,000 from the previous week's figure. The latest reading was better than the 214,000 forecast.
In our year ahead outlook, we unveil 5 key factors we believe offer rare certainty in these uncertain times. Discover how we’re navigating this landscape and positioning portfolios to seize opportunities and mitigate risks in the year ahead.
Our Cash Indicator methodology acts as a plan in case of an emergency. Investors should expect more equity market volatility ahead.
The December U.S. services purchasing managers' index (PMI) conducted by S&P Global came in at 56.8, the highest level since March 2022. The latest reading came in below the forecast of 58.5 but keeps the index in expansion territory for the 23rd straight month.
President-elect Donald Trump is said to be interested in the privatization of the US Postal Service, a prospect that also appeals to his DOGE project and its allies in Congress.
Three interconnected lessons from 2024 help shape our 2025 outlook.
MicroStrategy Inc. bought $101 million of Bitcoin after announcing that it would use perpetual preferred stock as well as common shares and debt to acquire more of the cryptocurrency.
Enrollees in Medicare Advantage may end up paying steep costs for specialty care that doesn't meet their healthcare needs, advisors shared.
Caryl Falvey shares retirement-conversation insights from MIT Agelabs and MassMutual Strategic Distributors.
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 December 2024 close.
Although the general public might not pay much attention to such price swings, they still leave a serious impact on global trade and investment.
When Jaguar’s “copy nothing” brand reboot hit late last year, one self-styled car enthusiast replied on X: “What the actual hell is this.” Jaguar’s response: “The future.”
The clouds that hung over the financial-technology industry in 2024 appear to be clearing as interest-rate cuts, recoveries in fintech stocks and promises of a looser regulatory environment in the second Trump administration paint a more promising outlook for startups.
I expect three major innovation cycles to dramatically affect our world in the next decade, with impacts comparable to steam engines, electricity, automobiles, and even the internet. Every new invention helps us explore even further.
We look back on six themes that defined another eventful year.
Annuities can provide a guaranteed lifetime income stream in retirement, no matter how long you live. They thrive under high interest rate environments and are currently offering the highest payouts seen in years.
Financial loss is one of the most common secondary losses. The death of a family breadwinner can bring crushing financial uncertainty. Even when the deceased was not the primary earner, grief can derail financial stability.
A rude surprise could be in store for the millions of Americans who get health coverage through the Affordable Care Act. If Congress doesn’t act next year, enhanced premium subsidies will expire by December, causing enrollees’ payments to increase by more than 75% on average.
Bond traders have rarely suffered so much from a Federal Reserve easing cycle. Now they fear 2025 threatens more of the same.
Start the new year right by reviewing and revamping your financial plan.
Personal income (excluding transfer receipts) rose 0.4% in November and is up 4.6% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) was up 0.2% month-over-month and up 2.1% year-over-year.
Private credit firms want more than corporate lending. The largest are laying the groundwork to finance everything from auto loans and residential mortgages to chip manufacturing and data centers in an effort to swell the size of the market by the trillions.
The Conference Board Leading Economic Index (LEI) increased slightly in November. The index rose 0.3% from the previous month to 99.7 after eight consecutive monthly declines.
Why cyclical leadership in equities could continue into 2025.
Brent Olson and Thomas Ross, fixed income portfolio managers, believe that high yield bonds offer comfortable driving for now, but investors might need to negotiate more difficult terrain later in 2025.
The U.S. economy is experiencing a remarkable period of economic stabilization and growth
Xi Jinping and Donald Trump's bromance could be rekindled in 2025, if both sides play their cards right.
We all know someone who has passed away without their affairs in order. As financial advisors, we have a responsibility to ensure that this doesn’t happen to our clients.
Double-digit increases in rates are common. I’m definitely feeling the pain, as I suspect you are. So here are a few things I do to help my clients save some money.
Joel Liu, J.D. Head of Advanced Sales MassMutual Strategic Distributors, discusses the impending wealth transfer.
Portfolio managers and market strategists from Payden & Rygel review the opportunities and risks ahead for four bond market sectors: high yield, emerging markets, global bonds and low duration securities.
Our outlook on the 11 S&P 500 equity sectors.
The surprise nomination of Robert F. Kennedy Jr. to head healthcare policy in the U.S. caused substantial volatility in November. But despite heightened uncertainty, the sector’s long-term outlook appears intact, say Portfolio Managers Andy Acker and Dan Lyons – giving investors a potential opportunity to invest at attractive valuations.
Waiting until 67 or 70 may not feel like the best choice in the moment. Yet the extra income could mean more freedom from financial stress and more ability to enjoy your later years with peace of mind.
A resilient US economy and deepening geopolitical tensions around the world are making asset managers rethink their expectations for a weaker dollar.
Whether you want to buy or rent, finding an affordable, comfortable home can be extremely difficult, if not impossible.
Our Cash Indicator methodology acts as a plan in case of an emergency. This is analogous to the multiple safety systems in a modern automobile, which includes an airbag. Importantly, each of these systems work together to potentially help smooth the ride.
Historical trends are being permanently broken in real time as mega forces, like the rise of artificial intelligence (AI), transform economies.
With year-end looming, consider taking action now to determine if annual gifts make sense. Our Bill Cass shares useful strategies to consider for estate planning.
Quite a few observers have described the dramatic fall of the Barnier government in France not just as a political crisis but also an economic and financial crisis.
While the economy helped President Trump win a second term, it also created expectations that could prove difficult to meet.
Assets in money market funds reached an all-time high of $7 trillion this past month. Now that rates are moving lower, money market yields may not be as attractive to many investors and assets may gradually leave money funds.
In this article, Beverly Flaxington gives advice on how to navigate organizing events for staff and clients.
By understanding annuities, debunking myths, and staying on top of tax implications, you can offer your clients the financial stability they crave. Regular reviews, proactive communication, and continuous education are the keys to success.
The $1.8 trillion federal budget deficit in the fiscal year that ended in September was the third biggest ever in dollar terms, trailing only the pandemic deficits of the 2020 and 2021 fiscal years. As a share of gross domestic product, a better gauge for historical comparisons, it was, at 6.4%, the biggest ever outside of a large war or global crisis.
The trend is your friend. Or, in Larry Fink’s case, your primary acquisition tickbox.
The decision of whether to generate lifetime income with an annuity should be made on its own merits, e.g., as part of a holistic, goals-based investing process. In those cases where annuitized income is deemed beneficial, though, this article has illustrated why the purchase of a qualified annuity from IRA assets may be more attractive than you might expect.
BlackRock Inc. agreed to buy HPS Investment Partners in an all-stock deal valued at roughly $12 billion, a purchase that will propel the world’s largest asset manager into the highest ranks of private credit.
Expectations for solid corporate earnings drove our U.S. and Japanese equity overweights this year. They have delivered, showing that fundamentals are key. Earnings strength could matter more to equity investors in 2025 over valuations.
Trump's election win spurred market optimism, driving rallies in equities, crypto, and cyclical sector.
You're interested in investing in municipal bonds, but which type—general obligation or revenue—is best for you? We break it down.
We are prone to animal analogies when describing disorderly situations: like herding cats, like a barrel full of monkeys, like a dog’s breakfast.
Credit investors squeezed by the tightest spreads in almost 20 years are opting for bare-bones strategies, creating a boom for Europe’s fixed-maturity funds.
On whole, EM growth has been resilient, while inflation has fallen closer to normal levels.
For most of the last fifty years, fixed income investing has been characterized by owning some combination of Municipals, Corporates, Treasuries and Agency Mortgage-Backed Securities.
Don’t let your clients lose sight of their goals in financial complexity. Give them the clarity and simplicity they crave with a one-page plan that’s tailored to their unique needs.
Some retirees say they could have planned better for lifetime income—helpful insight for current participants.
Take a moment to understand a few recent breakthroughs in medicine and explore a few ways to get actionable exposure to them with ETFs.
It is important for savers to understand guaranteed and non-guaranteed options when looking at retirement solutions offered within a 401(k) plan. Our Mike Dullaghan shares the highlights and talks about the need for personalized strategies.
The world’s biggest private credit managers are turning to an obscure investment product to help raise billions from deep-pocketed insurance companies, testing the limits of industry safeguards meant to curb risk.
Top financial professionals have a clear understanding of their unique strengths and are able to convey them to clients. To set yourself up for success, distinguish yourself in the market through specialized expertise and tailored client services.
Don’t wait for financial symptoms to show up. Annual financial checkups can help maintain your current financial fitness and support your long-term financial wellbeing.
Municipal bonds broke their winning streak in October, posting negative total returns alongside broader fixed income assets.
Following a tense presidential election, equity markets roared to record highs – the S&P 500 put on its best weekly showing in over a year.
President-elect Donald Trump pledged last month to eliminate “the Double Taxation of overseas Americans.” Never mind the clumsy wording — taxes on US citizens working abroad aren’t excessive so much as excessively complicated — this is one campaign promise that may actually be fulfilled, given the Republican control of both houses of Congress. That would be a good thing not only for those Americans but also for America.
Warren Buffett created Berkshire Hathaway Inc.’s Class B shares almost 30 years ago to stymie money managers who sought to split the high-priced conglomerate’s stock.
For DC plan sponsors, developing a short list of income solutions is a good first step.
The US Federal Reserve and its chair, Jerome Powell, are rightly choosing not to act on any assumptions about what Donald Trump might do as president. That said, if he follows through on his more extreme campaign promises, they’ll struggle to contain the economic consequences — a problem that equity investors ignore at their peril.
Let's keep our client meetings focused and manageable. By doing so, we not only respect their time and attention but also increase the likelihood of them taking the necessary steps to achieve their financial goals.
Despite being the generations with the most knowledge, experience and potential resources, many are still unsure about their financial future.
Retirement plan savers looking to mitigate the risk of higher taxes in the future may benefit from making after-tax contributions to employer plans, which may be transferred to Roth accounts. Our Bill Cass details a “mega backdoor” Roth strategy.
If you’re unfamiliar with synthetic risk transfers, there’s a chance you’ll hear all about them when the next financial crisis hits. They’re the latest way for big banks to game rules designed to safeguard the system, and they’re growing fast. So far, regulators seem all but oblivious.
Insurance & Annuities
NAHB Housing Market Index: Builder Confidence Inches to 9-Month High in January
Builder confidence inched up in January to its highest level in 9 months on hopes for economic growth and an improved regulatory environment. The National Association of Home Builders (NAHB) Housing Market Index (HMI) rose to 47 this month, up one point from December. The latest reading came was above the forecast of 45.
The Inflation Genie Is Moving to the White House
The latest updates on the labor market and consumer prices show President-elect Donald Trump inherits an economy where inflation is poised to return to the Federal Reserve’s target later this year.
Unemployment Claims Up 14K, Worse Than Expected
In the week ending January 11th, initial jobless claims rose or the first time in five weeks. Initial jobless claims were at a seasonally adjusted level of 217,000, an increase of 14,000 from the previous week's figure. The latest reading was worse than the 210,000 forecast.
Uncertainty Is Certain
Amid an unsettled global economic outlook and elevated equity valuations, bond markets present attractive yields and important diversification benefits.
Transforming 2024 Insights Into 2025 Action
Use this guide to transform our 2024 Retirement Insights into action in 2025, focusing on areas of plan design, tax credits and participant engagement. Our Mike Dullaghan shares the highlights.
Strategic Income Outlook: Magic 8-Ball Says, “Cannot Predict Now”
Although we are loath to make predictions, conditions appear to be favorable for fixed income in the coming year, and we think investors should consider adjusting their allocations accordingly.
Inside the Consumer Price Index: December 2024
Let's do some analysis of the Consumer Price Index, the best-known measure of inflation. The Bureau of Labor Statistics (BLS) divides all expenditures into eight categories and assigns a relative size to each. The pie chart illustrates the components of the Consumer Price Index for Urban Consumers, the CPI-U.
Median Household Income by State: 2023 Update
The median US income in 2023 was $80,610, up from $22,420 in 1984 — a 260% rise over the 39-year time frame. However, if we adjust for inflation chained in 2023 dollars, the 1984 median is $55,828, and the increase drops to 37%.
The $2 Trillion Home Insurance Nightmare Is Getting Even Worse
On top of the human tragedy they’re still inflicting, the Los Angeles wildfires are exposing a gap between what people thought their homes were worth and what they’ll actually get from insurance companies when those houses have been reduced to ash. Potentially thousands of homeowners are learning it won’t be nearly enough.
Consumer Price Index: Inflation Ticks Up to 2.9% in December
Inflation ticked up in December while core growth slowed. According to the Bureau of Labor Statistics, the headline figure for the Consumer Price Index rose to 2.89% year-over-year, right in line with economist expectations. Additionally, core CPI came in lower than expected, slowing to 3.2% year-over-year.
Early Groundwork Is Key for Implementing Lifetime Income Solutions
Engaging up front with four key workstreams may smooth the process of adding a solution.
The Missing Piece in America’s Healthcare Debate
We need to face the reality that we’ve chosen a system that prioritizes lower taxes over centralized health care.
Private Equity Does Not Belong in Your 401(k)
Private equity wants access to Americans’ retirement accounts, and is lobbying President-elect Donald Trump’s administration to get it.
Private Credit Outlook: Expanding the Universe
The journey from niche asset to core allocation looks set to continue.
Median Household Incomes by Age Bracket: 1967-2023
Our commentary on household income distribution offers some fascinating insights into average U.S. household incomes, but misses the implications of age for income. In this update, we examine household income with a focus on age bracket.
Unemployment Claims as a Recession Indicator: December 2024
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?
The Big Four Recession Indicators: December 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 those indicators, nonfarm employment. December saw a 256,000 increase in total nonfarm payrolls and the unemployment ticked down to 4.1%.
U.S. Household Incomes: A 50+ Year Perspective
A few months ago, the Census Bureau released its annual report on household income data for 2023. During 2023, the median (middle) average household income rose 8.0% to $80,730. Let's take a closer look at the quintile averages, which dates from 1967, along with the statistics for the top 5%.
Unemployment Claims Drop to 11-Month Low
In the week ending January 4th, initial jobless claims fell to their lowest level since February 2024. Initial jobless claims were at a seasonally adjusted level of 201,000, a decrease of 10,000 from the previous week's figure. The latest reading was better than the 214,000 forecast.
2025 Year Ahead: Certainties for an Uncertain World
In our year ahead outlook, we unveil 5 key factors we believe offer rare certainty in these uncertain times. Discover how we’re navigating this landscape and positioning portfolios to seize opportunities and mitigate risks in the year ahead.
The January 25 Dashboard: Our 3 Layers of Risk Management
Our Cash Indicator methodology acts as a plan in case of an emergency. Investors should expect more equity market volatility ahead.
S&P Global Services PMI: Reaches 33-Month High in December
The December U.S. services purchasing managers' index (PMI) conducted by S&P Global came in at 56.8, the highest level since March 2022. The latest reading came in below the forecast of 58.5 but keeps the index in expansion territory for the 23rd straight month.
Privatize the USPS? Not in an Era of Crony Capitalism
President-elect Donald Trump is said to be interested in the privatization of the US Postal Service, a prospect that also appeals to his DOGE project and its allies in Congress.
Three Investment Lessons From 2024
Three interconnected lessons from 2024 help shape our 2025 outlook.
MicroStrategy Buys Bitcoin After Adding Preferred Offering
MicroStrategy Inc. bought $101 million of Bitcoin after announcing that it would use perpetual preferred stock as well as common shares and debt to acquire more of the cryptocurrency.
Ignore Concerns About Medicare Advantage at Your Peril
Enrollees in Medicare Advantage may end up paying steep costs for specialty care that doesn't meet their healthcare needs, advisors shared.
Why Words Matter in Client Conversations About Retirement
Caryl Falvey shares retirement-conversation insights from MIT Agelabs and MassMutual Strategic Distributors.
The S&P 500, Dow and Nasdaq Since 2000 Highs as of December 2024
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 December 2024 close.
How Climate Volatility Is Redefining Commodity Markets
Although the general public might not pay much attention to such price swings, they still leave a serious impact on global trade and investment.
A ‘Made in China’ Crisis Awaits Big Auto
When Jaguar’s “copy nothing” brand reboot hit late last year, one self-styled car enthusiast replied on X: “What the actual hell is this.” Jaguar’s response: “The future.”
Regulation, Deals and Crypto: Fintech Themes to Watch in 2025
The clouds that hung over the financial-technology industry in 2024 appear to be clearing as interest-rate cuts, recoveries in fintech stocks and promises of a looser regulatory environment in the second Trump administration paint a more promising outlook for startups.
Live Free and Don't Die
I expect three major innovation cycles to dramatically affect our world in the next decade, with impacts comparable to steam engines, electricity, automobiles, and even the internet. Every new invention helps us explore even further.
Reflections on 2024
We look back on six themes that defined another eventful year.
The Popular Rise of Lifetime Income on Annuities
Annuities can provide a guaranteed lifetime income stream in retirement, no matter how long you live. They thrive under high interest rate environments and are currently offering the highest payouts seen in years.
How Grief’s Emotional Impact Is Compounded by Secondary Financial Loss
Financial loss is one of the most common secondary losses. The death of a family breadwinner can bring crushing financial uncertainty. Even when the deceased was not the primary earner, grief can derail financial stability.
Obamacare Is More Popular and Costlier Than Ever
A rude surprise could be in store for the millions of Americans who get health coverage through the Affordable Care Act. If Congress doesn’t act next year, enhanced premium subsidies will expire by December, causing enrollees’ payments to increase by more than 75% on average.
Bond Traders Face 2025 Amid Most Agonizing Easing in Decades
Bond traders have rarely suffered so much from a Federal Reserve easing cycle. Now they fear 2025 threatens more of the same.
Financial Resolutions for 2025
Start the new year right by reviewing and revamping your financial plan.
The Big Four Recession Indicators: Real Personal Income Up 0.2% in November
Personal income (excluding transfer receipts) rose 0.4% in November and is up 4.6% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) was up 0.2% month-over-month and up 2.1% year-over-year.
Private Credit Plots Expansion in Bid for $40 Trillion Prize
Private credit firms want more than corporate lending. The largest are laying the groundwork to finance everything from auto loans and residential mortgages to chip manufacturing and data centers in an effort to swell the size of the market by the trillions.
CB Leading Economic Index: Small Rise in November
The Conference Board Leading Economic Index (LEI) increased slightly in November. The index rose 0.3% from the previous month to 99.7 after eight consecutive monthly declines.
Economic Resilience Supports Cyclical Rally
Why cyclical leadership in equities could continue into 2025.
High Yield Bonds Outlook: Taking the Scenic Route in 2025
Brent Olson and Thomas Ross, fixed income portfolio managers, believe that high yield bonds offer comfortable driving for now, but investors might need to negotiate more difficult terrain later in 2025.
The Beat Goes On
The U.S. economy is experiencing a remarkable period of economic stabilization and growth
The Trump-Xi Bromance Has a Chance in 2025
Xi Jinping and Donald Trump's bromance could be rekindled in 2025, if both sides play their cards right.
My Uncle’s Early Death Hit Our Family Hard: A Case for Estate Planning
We all know someone who has passed away without their affairs in order. As financial advisors, we have a responsibility to ensure that this doesn’t happen to our clients.
Help Clients Save Money on Property and Casualty Insurance
Double-digit increases in rates are common. I’m definitely feeling the pain, as I suspect you are. So here are a few things I do to help my clients save some money.
Adapting to Seismic Shifts in Financial Services
Joel Liu, J.D. Head of Advanced Sales MassMutual Strategic Distributors, discusses the impending wealth transfer.
What’s Ahead for Fixed Income in 2025?
Portfolio managers and market strategists from Payden & Rygel review the opportunities and risks ahead for four bond market sectors: high yield, emerging markets, global bonds and low duration securities.
Sector Views: Monthly Stock Sector Outlook
Our outlook on the 11 S&P 500 equity sectors.
Despite Political Headwinds, Healthcare Stocks Stay Anchored to Innovation
The surprise nomination of Robert F. Kennedy Jr. to head healthcare policy in the U.S. caused substantial volatility in November. But despite heightened uncertainty, the sector’s long-term outlook appears intact, say Portfolio Managers Andy Acker and Dan Lyons – giving investors a potential opportunity to invest at attractive valuations.
The $182,000 Social Security Mistake That Could Limit Your Retirement
Waiting until 67 or 70 may not feel like the best choice in the moment. Yet the extra income could mean more freedom from financial stress and more ability to enjoy your later years with peace of mind.
Dollar Optimism Is Spreading From Hedge Funds to Asset Managers
A resilient US economy and deepening geopolitical tensions around the world are making asset managers rethink their expectations for a weaker dollar.
Homes for Christmas
Whether you want to buy or rent, finding an affordable, comfortable home can be extremely difficult, if not impossible.
The December 2024 Dashboard: Our Three Layers of Risk Management
Our Cash Indicator methodology acts as a plan in case of an emergency. This is analogous to the multiple safety systems in a modern automobile, which includes an airbag. Importantly, each of these systems work together to potentially help smooth the ride.
2025 Investment Outlook: Building the Transformation
Historical trends are being permanently broken in real time as mega forces, like the rise of artificial intelligence (AI), transform economies.
Year-End Estate Planning: Strategies for Maximizing Tax Benefits and Legacy Planning
With year-end looming, consider taking action now to determine if annual gifts make sense. Our Bill Cass shares useful strategies to consider for estate planning.
This Is Not France’s "Truss" Moment
Quite a few observers have described the dramatic fall of the Barnier government in France not just as a political crisis but also an economic and financial crisis.
Monthly Global Economic Report
While the economy helped President Trump win a second term, it also created expectations that could prove difficult to meet.
Rethinking Cash
Assets in money market funds reached an all-time high of $7 trillion this past month. Now that rates are moving lower, money market yields may not be as attractive to many investors and assets may gradually leave money funds.
How to Navigate Organizing Events for Staff & Clients
In this article, Beverly Flaxington gives advice on how to navigate organizing events for staff and clients.
Annuities 101: A Financial Advisor's Guide to Understanding and Utilizing Annuities
By understanding annuities, debunking myths, and staying on top of tax implications, you can offer your clients the financial stability they crave. Regular reviews, proactive communication, and continuous education are the keys to success.
Health-Care Spending Is Sinking the Federal Budget
The $1.8 trillion federal budget deficit in the fiscal year that ended in September was the third biggest ever in dollar terms, trailing only the pandemic deficits of the 2020 and 2021 fiscal years. As a share of gross domestic product, a better gauge for historical comparisons, it was, at 6.4%, the biggest ever outside of a large war or global crisis.
BlackRock Pays $12 Billion to Catch Up in Private Credit
The trend is your friend. Or, in Larry Fink’s case, your primary acquisition tickbox.
Annuities in an IRA? A Surprising RMD Advantage for FIAs or VAs
The decision of whether to generate lifetime income with an annuity should be made on its own merits, e.g., as part of a holistic, goals-based investing process. In those cases where annuitized income is deemed beneficial, though, this article has illustrated why the purchase of a qualified annuity from IRA assets may be more attractive than you might expect.
BlackRock Buys Credit Firm HPS in $12 Billion All-Stock Deal
BlackRock Inc. agreed to buy HPS Investment Partners in an all-stock deal valued at roughly $12 billion, a purchase that will propel the world’s largest asset manager into the highest ranks of private credit.
Uneven Earnings Call for Granularity
Expectations for solid corporate earnings drove our U.S. and Japanese equity overweights this year. They have delivered, showing that fundamentals are key. Earnings strength could matter more to equity investors in 2025 over valuations.
BUZZ Investing: Election Sparks 'Trump Trade' Rally
Trump's election win spurred market optimism, driving rallies in equities, crypto, and cyclical sector.
Choosing Municipal Bonds: GO or Revenue?
You're interested in investing in municipal bonds, but which type—general obligation or revenue—is best for you? We break it down.
Chaotic Commitments at COP29
We are prone to animal analogies when describing disorderly situations: like herding cats, like a barrel full of monkeys, like a dog’s breakfast.
In Hot Credit Market, Simple Fixed-Maturity Funds Are Booming
Credit investors squeezed by the tightest spreads in almost 20 years are opting for bare-bones strategies, creating a boom for Europe’s fixed-maturity funds.
Emerging Market Debt Outlook for 2025
On whole, EM growth has been resilient, while inflation has fallen closer to normal levels.
CLO Default Rates Are Significantly Lower Than Corporate Default Rates
For most of the last fifty years, fixed income investing has been characterized by owning some combination of Municipals, Corporates, Treasuries and Agency Mortgage-Backed Securities.
79 Questions to Ask When Building a One-Page Plan
Don’t let your clients lose sight of their goals in financial complexity. Give them the clarity and simplicity they crave with a one-page plan that’s tailored to their unique needs.
Lifetime-Income Lessons from Retirees Can Move the Needle for DC Plans
Some retirees say they could have planned better for lifetime income—helpful insight for current participants.
Disruptive Theme of the Week: Breakthroughs in Medicine
Take a moment to understand a few recent breakthroughs in medicine and explore a few ways to get actionable exposure to them with ETFs.
What Retirement Plan Advisors Need to Know About In-Plan Retirement Income Solutions
It is important for savers to understand guaranteed and non-guaranteed options when looking at retirement solutions offered within a 401(k) plan. Our Mike Dullaghan shares the highlights and talks about the need for personalized strategies.
Backdoor Private Credit Funds Are Luring Billions From Insurers
The world’s biggest private credit managers are turning to an obscure investment product to help raise billions from deep-pocketed insurance companies, testing the limits of industry safeguards meant to curb risk.
What Top Financial Professionals Are Doing to Succeed
Top financial professionals have a clear understanding of their unique strengths and are able to convey them to clients. To set yourself up for success, distinguish yourself in the market through specialized expertise and tailored client services.
The Value of an Annual Financial Checkup
Don’t wait for financial symptoms to show up. Annual financial checkups can help maintain your current financial fitness and support your long-term financial wellbeing.
Active Management Will Drive Muni Returns in 2024
Municipal bonds broke their winning streak in October, posting negative total returns alongside broader fixed income assets.
The Post-Election Flood Into ETFs
Following a tense presidential election, equity markets roared to record highs – the S&P 500 put on its best weekly showing in over a year.
Trump Is Right: Expat Taxes Are Too Complicated
President-elect Donald Trump pledged last month to eliminate “the Double Taxation of overseas Americans.” Never mind the clumsy wording — taxes on US citizens working abroad aren’t excessive so much as excessively complicated — this is one campaign promise that may actually be fulfilled, given the Republican control of both houses of Congress. That would be a good thing not only for those Americans but also for America.
Buffett’s Berkshire Is Being Packaged Into a Leveraged ETF
Warren Buffett created Berkshire Hathaway Inc.’s Class B shares almost 30 years ago to stymie money managers who sought to split the high-priced conglomerate’s stock.
Four Questions to Narrow the Field of Retirement Income Solutions
For DC plan sponsors, developing a short list of income solutions is a good first step.
Powell Doesn’t Fear Trump. He Also Can’t Contain Him
The US Federal Reserve and its chair, Jerome Powell, are rightly choosing not to act on any assumptions about what Donald Trump might do as president. That said, if he follows through on his more extreme campaign promises, they’ll struggle to contain the economic consequences — a problem that equity investors ignore at their peril.
Mastering Client Meetings: How to Avoid Overwhelm and Deliver Massive Value
Let's keep our client meetings focused and manageable. By doing so, we not only respect their time and attention but also increase the likelihood of them taking the necessary steps to achieve their financial goals.
Are Boomers and Gen Xers Financially Ready for Retirement?
Despite being the generations with the most knowledge, experience and potential resources, many are still unsure about their financial future.
Turning After-Tax Plan Contributions Into Tax-Free Retirement Income
Retirement plan savers looking to mitigate the risk of higher taxes in the future may benefit from making after-tax contributions to employer plans, which may be transferred to Roth accounts. Our Bill Cass details a “mega backdoor” Roth strategy.
Banks’ New Trick Could Mean Trouble for Everyone
If you’re unfamiliar with synthetic risk transfers, there’s a chance you’ll hear all about them when the next financial crisis hits. They’re the latest way for big banks to game rules designed to safeguard the system, and they’re growing fast. So far, regulators seem all but oblivious.