Today's Wealth Management Pulse
SmartAsset outlines a three‑step wealth‑building plan for early‑30s earners
Financial planners recommend that workers first capture any employer‑matched retirement contributions, then set aside 10‑20% of gross pay for savings, and finally eliminate debt with rates above roughly 10%. They also advise establishing a 3‑6‑month emergency fund in a high‑yield account to ensure liquidity.
Also developing:
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AlphaCore Puts Alternatives at the Heart of Its Strategy
AlphaCore Wealth Advisory, a La Jolla RIA managing $8.6 billion, has placed alternative investments at the core of its portfolios, allocating roughly 20‑25% of assets to private equity, real estate and infrastructure and scaling to about 30% for clients with $10 million-plus balances. The firm, founded in 2015 and recently acquiring tax‑planning specialist SPC Financial, emphasizes international exposure across public and private markets, conducts all manager due diligence in‑house, and follows a quarterly rebalancing cadence while keeping model‑driven assets under 20% of total holdings. It offers selective direct indexing and cash strategies but excludes digital assets from standard allocations. The approach targets ultra‑high‑net‑worth families seeking resilience through a diversified, alternatives‑centric portfolio.
Rethinking Trend Following: Optimal Regime-Dependent Allocation
A new paper separates regime detection from position sizing, deriving Sharpe‑optimal weights for each market state. Applying the framework to two‑ and four‑regime specifications lifts out‑of‑sample Sharpe ratios from 0.208 to 0.506 and from 0.496 to 0.628, respectively, across 18...
Millions of Americans May Qualify for Covid-Era Tax Refunds – but the Clock Is Ticking
A federal court ruled that the IRS must treat pandemic‑era filing deadlines as automatically extended, meaning penalties and interest assessed during that period may be refundable. Taxpayers have until July 10 to submit Form 843 claims covering tax years 2019‑2022, the last...
Taxes on Social Security Benefits Vary Depending on Many Factors
The Social Security program now sets full retirement age at 67, and both the timing of benefit claims and any earned income affect taxes and benefit reductions. In 2026 the earnings limit for workers under full retirement age rises to...
What Happens When a Taxpayer Dies with Passive Losses?
When a taxpayer dies holding a passive activity with suspended passive activity losses (PALs), the losses are not fully deductible. Under IRC §469(g)(2), only the portion of PALs that exceeds the step‑up in basis allowed by §1014 can be claimed...
Baby Steps
A Canadian parent wants to help her 16‑year‑old daughter start investing before she can open a TFSA. The article explains that minors can contribute to a RRSP if they have earned income and file a tax return, and that parents...
Mega Backdoor Roth: Boost Roth Savings via After‑Tax 401k
Does your 401k have an "after-tax" account? If so, you can use the Mega Backdoor Roth strategy to invest $40,000+ to a Roth account in addition to your regular contributions. It's an amazing strategy to minimize future taxes on growth for high...
Good Financial Reads: The Business Owner’s Financial Operating System
The article guides small business owners through three critical financial pillars: selecting the optimal retirement plan—SEP IRA, Solo 401(k), or SIMPLE IRA—based on income, employee count, and growth goals; avoiding costly bookkeeping errors, especially the failure to reconcile bank accounts;...
Lou Simpson: The Investor Who Ran GEICO's Portfolio and Quietly Outperformed for Decades
Lou Simpson managed GEICO’s investment portfolio from 1979 to 2010, steering a markedly higher equity allocation than typical insurers. By concentrating 35‑45% of the float in a handful of high‑quality stocks—often just 8‑15 holdings—he generated a 20.3% compound annual return,...
Northwestern Mutual's Stucky on Why Earnings Growth Overcomes Headline Risks
In this Money Life episode, host Chuck Jaffe interviews three guests: John Cole Scott, who honors the late Mark Mobius and shares his top ten emerging‑market investing lessons; Jeff Corliss, who argues that investors’ own behavioral blind spots, not market...
Use an LLC for Crypto to Protect Privacy and Taxes
Personal name XRP sales get you a standard deduction and full exposure to creditors and scrutiny. The LLC gives you anonymity, creditor protection, and actual tax strategy. Borrow against the position, generate income through DWP products, or set a limit...
Bitcoin for Everyday Investors: How to Think About Risk, Timing, and Size
The article frames Bitcoin as a high‑risk, high‑volatility satellite asset rather than a core holding. It advises investors to assess personal risk tolerance, use structured entry such as dollar‑cost averaging, and size the position so a steep drawdown won’t jeopardize...
LPL Financial Hits $2.3 Trillion in Client Assets, Sets Record Q1 2026
LPL Financial announced total client assets of $2.3 trillion for Q1 2026, driven by $21 billion of organic net new assets and a 4% annualized growth rate. The firm posted adjusted earnings of $5.60 per share, a 9% year‑over‑year rise, while revenue...
The Top Business Succession Questions Trusts and Estates Lawyers Wish You Asked Your Clients
Canada’s aging business owners are asset‑rich but cash‑poor, creating urgent succession challenges. Trusts and estates lawyers warn that without early questions about ownership, control, trusts and AI‑generated documents, families often face costly litigation. The article outlines four practical questions non‑specialist...
View From The Hill: Albanese Sensitive on One Tax Reform that Won’t Be in the Budget
Prime Minister Anthony Albanese pushed back on calls to index income‑tax brackets in the May 12 budget, saying the reform is not a priority. Economists warn that without indexation, inflation‑driven “bracket creep” could lift the average tax rate from 22.8% to...
Position Sizing
Dean outlines a judgment‑driven approach to position sizing, emphasizing that it’s the single biggest driver of portfolio outcomes. He recommends starting with 5‑10% of capital for an initial idea, using 2‑3% “half‑positions” for basket components, and scaling up or down...
Ask the Tax Editor, May 1: 10-Year Rule for Inherited IRAs
The 2019 SECURE Act eliminated the lifetime stretch for most non‑spousal inherited IRAs, imposing a 10‑year distribution window. Beneficiaries must fully withdraw the account by the end of the tenth year, with annual required minimum distributions (RMDs) only if the...
T. Rowe Price Q1 2026 AUM Hits $1.71 Trillion, Earnings Rise 13%
T. Rowe Price posted first‑quarter 2026 results showing assets under management climb 9.6% to $1.71 trillion and adjusted earnings per share rise 13% to $2.52. The firm posted $562 million of adjusted profit on $1.86 billion of revenue, while still grappling with $13.7 billion...
Mason & Associates Cuts $5.7M Stake in Pacer Cash Cows Growth ETF
Mason & Associates Inc sold 161,704 shares of the Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG) for an estimated $5.67 million, cutting its position to 88,667 shares worth $2.91 million. The move shrinks the ETF’s share of Mason’s U.S....
Madison Wealth Partners Puts $27 Million Into VictoryShares Core Plus Bond ETF
Madison Wealth Partners added 1.23 million shares of the VictoryShares Core Plus Bond ETF (UBND), a $27 million purchase that lifts its holding to 5.6% of its reportable assets. The move underscores a strategic shift toward fixed‑income stability as investors grapple with...
Weigh Home Upgrade vs Investing: Choose Financially
You’re 42, Corporate Executive, Chicago. $650k income. Married, 3 kids, 1 on the way. $1.8M retirement, $600k brokerage. You can: Upgrade to a $2.5M home OR Stay put and invest the difference What do you do?
We’re New Yorkers With $3.8M. We Plan to Retire in South Carolina, but My Wife Worries We Will Regret It.
A New York couple with $3.8 million retirement savings is weighing a move to South Carolina, where a $1.3 million home could be sold and a comparable property bought for about $600 k, freeing roughly $700 k in equity. New York’s top income tax...
Did Andrew Make a Mistake in Preventing His Mom From Buying Annuities?
Andrew stopped his 64‑year‑old mother from moving $300,000 into a traditional annuity after learning the product’s drawbacks. The article outlines how annuities lock up capital, provide no inflation protection, and end income at death, while also noting research that guaranteed...
3 Balanced Mutual Funds With Strong Upside Potential
Balanced mutual funds combine equities and bonds to reduce portfolio volatility while aiming for higher returns than pure fixed‑income products. Three Zacks‑ranked funds—Payson Total Return, Virtus Duff & Phelps Real Asset Fund, and Vanguard Wellington Investor—each earned a Strong Buy rating...
‘The Numbers Don’t Lie’: If I Had Invested My Social Security in the S&P 500 I’d Have $4 Million. Is...
An 64‑year‑old retiree calculated that if his Social Security contributions had been invested in the S&P 500, his account would now exceed $4 million, allowing a $30,000‑per‑month withdrawal. The article explains that Social Security funds are instead placed in special‑issue Treasury securities,...
Buy 2 North Square Mutual Funds for Balanced Returns
North Square Investments, a multi‑boutique asset‑management platform, recommends two of its mutual funds for long‑term investors. The Spectrum Alpha Fund (ORIGX) focuses on U.S. small‑cap equities and has posted a 14.5% annualized return over both three‑ and five‑year periods with...
SEI and Carlyle Deepen Partnership to Broaden Private Markets Access in Wealth and Retirement
SEI and The Carlyle Group have deepened their strategic partnership to broaden private‑market access for wealth and retirement investors. The enhanced collaboration will deliver scalable private‑market solutions, including model portfolios and tools tailored for financial advisers and defined‑contribution platforms. By...
5 Things Warren Buffett Says To Never Invest In or Buy (Avoid at All Costs)
Warren Buffett’s investment doctrine is defined by five categories he refuses to touch: businesses outside his circle of competence, cheap mediocre firms, non‑productive assets such as gold, cryptocurrencies, and hype‑driven IPOs. He argues that capital preservation comes first, and only...
7 Things You Must Sacrifice If You Want to Be Rich One Day, According to Charlie Munger
Charlie Munger argues that real wealth comes from disciplined sacrifices rather than luck or raw intelligence. He lists seven habits to abandon—envy, herd mentality, constant action, ego, self‑pity, convenience, and comfort—each of which silently erodes capital and focus. By eliminating...
New Strategy Aims to Enhance Upside Return Capture Relative to Buffer Funds
GammaRoad Capital Partners has launched the MarketVector‑GammaRoad U.S. Equity Strategy Index, a rules‑based approach that dynamically allocates between the S&P 500 and U.S. Treasury bills. Unlike traditional buffer ETFs that cap upside by selling call options, the strategy can increase equity...
The Evolution of Passive Investing
Passive investing has shifted from simple market‑cap index funds to a sophisticated toolbox of factor‑based and equal‑weight products. Evelyn Partners’ Lead Portfolio Manager Dan Caps describes an "active‑passive" model that layers low‑cost index tracking with tactical asset allocation and style...
The Quiet Reality Many Families Face when Parents Age
UHNW families traditionally focus on wealth, estate and succession planning, often overlooking live‑in care for aging parents. Access Care, a UK‑based concierge agency founded in 1994, helps households proactively match self‑employed carers with families, ensuring support integrates discreetly into the...
Looking for Best Equity MFs to Invest for 3 Years? Check These 6 Funds with over 27% Returns
ET Online highlights six Indian equity mutual funds that have delivered over 27% cumulative returns in the past three years. Bandhan Small Cap Fund tops the list with a 30.72% gain, managing roughly ₹20,129 crore (≈ $2.4 billion) and a five‑star rating. The other...
The Universal Worry: Can We Afford Our Children’s Future?
Parents across Canada are increasingly worried about affording their children’s post‑secondary education. While 73% have opened a Registered Education Savings Plan (RESP) and 74% know about the Canada Education Savings Grant, only 33% feel confident they can fully fund tuition,...
RI Allocations Poised to Climb as Investor Demand Outpaces Advisor Action
The Responsible Investment Association’s 2026 Investor Opinion Survey shows that 47% of Canadian investors who already hold responsible investments intend to increase their allocations, while another 47% will maintain current levels. Overall interest remains steady at 67%, with a notable...
Canada Launches $25 B CAD Sovereign Wealth Fund for Retail Investors
Canada's finance ministry announced the Canada Strong Fund, a $25 billion CAD sovereign wealth fund seeded over three years, with a retail investment product that promises capital protection. The move expands sovereign‑wealth‑type exposure to everyday Canadians and will reshape advisory strategies.
U.S. Treasury Lifts Series I Bond Rate to 4.26% Through Oct. 2026
The U.S. Treasury announced a 4.26% annual composite rate for newly purchased Series I savings bonds, effective May 1 through Oct. 31 2026. The increase, driven by a 3.34% variable inflation component and a steady 0.90% fixed portion, revives interest in the government‑backed,...
Fidelity Launches Four Active‑Enhanced Small‑ and Mid‑Cap ETFs, Expanding $149B ETF Suite
Fidelity Investments rolled out four actively managed, factor‑based small‑ and mid‑cap ETFs, priced at 0.23%–0.28% expense ratios. The launch lifts Fidelity’s ETF count to 81 with $149 billion in assets, reflecting growing advisor demand for active‑ETF solutions.
Trump Signs Order to Launch TrumpIRA.gov, Offering up to $1,000 Match for Low‑income Savers
President Donald Trump signed an executive order establishing TrumpIRA.gov, a government‑run marketplace that will let workers without employer retirement plans open low‑cost IRAs. Eligible single filers earning up to $20,500 will receive a 50% contribution match up to $1,000, with...
Better Access, Better Quality for Individual Investors, Says StepStone Group
StepStone Group announced that its Private Wealth division is extending institutional‑quality private‑market access to individual investors, particularly high‑net‑worth clients. The firm highlighted new due‑diligence tools, lower minimum commitments and a streamlined onboarding process. Executives Brett Schlemovitz and Miguel Sosa said...
The Nevada Advantage: Strategic Trust and Tax Planning for the Modern Family Business
The article outlines why Nevada has become a premier trust jurisdiction for high‑net‑worth family businesses. It highlights Nevada’s tax neutrality—no state income, capital gains, estate or GST taxes—combined with flexible statutes such as decanting and directed trusts. Dynasty trusts can...
Lawyers Warn AI Estate‑Planning Advice Risks Privilege and Accuracy for Wealthy Clients
Lawyers serving high‑net‑worth individuals are raising alarms that AI chatbots used for estate‑planning and tax advice can breach attorney‑client privilege and deliver faulty recommendations. The warning comes as clients increasingly turn to tools like ChatGPT and Claude, prompting firms to...
ABLEnow Teams with Wounded Warriors Podcast to Boost Veteran ABLE Account Awareness
ABLEnow, the nation’s largest independent ABLE savings program, has partnered with the Wounded Warriors in Action Podcast to inform veterans and families about expanded ABLE account eligibility beginning in 2026. The collaboration aims to protect benefits like SSI and Medicaid...
Biggest Month Yet: Index Funds Thrive, Stay Invested
Almost 8 years of sharing our net worth growth and investing journey on social media. And this April was one of the biggest months we've had. The S&P and Nasdaq just had their best months since 2020. ...
0.2% Tax Generates $115M, Yet Home Tax Minimal
Let's assume there are 3500 worth $5MM, 2000 worth $10MM, and 1000 worth $20MM. 0.2% tax and you raise $115MM. The $5MM second home pays $10k, which is less than their annual real estate taxes (roughly $50-70k for...
Position Sizing Drives 70‑80% of Trading Success
"What I actually learned is that position sizing is probably 70 to 80 percent of the equation. It's not just about being right or wrong, it's about how much you make when you're right." — Stanley Druckenmiller https://t.co/S37S7hSPet
Buffett's Top Five Investments to Never Make
5 Things Warren Buffett Says To Never Invest In Or Buy (Avoid At All Costs) https://t.co/TWBI5722Bk
Munger's 7 Sacrifices Required for Future Wealth
7 Things You Must Sacrifice If You Want To Be Rich One Day, According To Charlie Munger https://t.co/VKcCbrv3um
Turn Your IRA Into a Tax‑Efficient Legacy Vehicle
Your IRA was built for retirement… but is it optimized for wealth transfer? At ARH Global Advisors LLC, we design sophisticated strategies for high-net-worth individuals using premier solutions, including John Hancock life insurance products, to transform taxable assets into tax-efficient legacy...
Pro Strategies to Identify Winning Investments
For most investors, a well-diversified portfolio of funds will do the trick. But if you want to try to identify winners like the pros on Wall Street, there are steps you can take. https://t.co/6RP6PY8ebH