Today's Wealth Management Pulse
Asian families shift inheritance from land to equity portfolios
A slowdown in real‑estate values and tighter credit are prompting wealthy Asian families to move away from traditional property inheritance toward diversified financial assets, with parents like South Korea’s Choi Nam‑joon gifting shares of Samsung Electronics to their children for long‑term growth.
How to Build a Portfolio when Bonds Fail to Buffer Stocks
The long‑standing hedge of bonds against equities is losing its effectiveness as rising interest rates and flattening yield curves push bond returns lower and push equity‑bond correlation to historic highs. Investors are seeing bonds provide little downside protection for stock portfolios, especially in a low‑yield environment. The article outlines alternative strategies—such as inflation‑linked bonds, short‑duration exposure, and real‑asset allocations—to restore diversification. It warns against abandoning bonds entirely, recommending a nuanced, multi‑asset approach.
Tuesday Links: Finding Great Ideas
Amazon announced a $1.5 billion acquisition of Globalstar to bolster its low‑Earth‑orbit satellite internet network and simultaneously expanded its automotive marketplace with several new car brands. Across energy markets, Asian economies are grappling with record‑high oil prices while diesel spikes threaten...
Vanguard AI Moves Advisors From Assistance to Augmentation
Vanguard's Three-Phase AI Strategy: From Efficiency to Autonomy Phase 1 (Assisting): AI handles repetitive tasks, surfaces data Phase 2 (Augmenting): AI generates insights, recommendations, scenario analysis—current deployment Phase 3 (Acting): AI executes decisions autonomously within guardrails—future state Current tool = Phase 2. Practical features:...
Washington’s Capital Gains Tax Charitable Deduction Has a Hidden Catch
Washington’s capital gains tax offers a charitable deduction, but it only applies when the donation is made to a “qualified organization” that is principally directed and managed within the state. The rule diverges from federal law, which merely requires 501(c)(3)...
Emergency Funds Losing Value: Shift to High‑Yield Savings to Preserve Your Safety Net
Traditional savings accounts are delivering sub‑0.5% returns, causing emergency funds to lose purchasing power. Financial advisors recommend transferring cash to high‑yield online accounts that pay around 4% APY, a ten‑fold increase that can add $200‑$800 annually for a typical three‑to‑six‑month...
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What Is the Generation-Skipping Transfer Tax (GSTT) and Who Pays?
The generation‑skipping transfer tax (GSTT) is a federal levy that applies when property is gifted or bequeathed to a beneficiary at least 37½ years younger than the donor, typically a grandchild. Introduced in 1976, the GSTT closes a loophole that...
13 Investment Must Reads For This Week (April 14, 2026)
Buffer ETFs have crossed $87 billion in assets under management, with 26 new products debuting in the past three months, reflecting aggressive product diversification. Meanwhile, U.S. mutual funds posted a negative 2.8% total return in Q1, driven by a 5.6% March...
Where to Find Long-Term Investment Opportunities in Energy
Stacey Morris of VettaFi argues that long‑term energy investing should focus on infrastructure and baseload power rather than short‑term oil price swings. Midstream ETFs such as AMLP and ENFR provide fee‑based exposure to North American LNG, propane and butane exports...
Currency: The Hidden Alpha in International ETFs
International equity ETFs have finally eclipsed U.S. funds in net inflows, a shift not seen since early 2023, driven by stronger earnings abroad and a weakening dollar. The MSCI EAFE index delivered a 24% local‑currency gain in 2025, which swelled...
176-Year-Old Bank Stock Pays Warren Buffett $576M in Annual Dividends
Warren Buffett’s Berkshire Hathaway owns 151.6 million American Express shares, a 22.1% stake that generates about $576 million in annual dividend income. The credit‑card giant’s dividend per share rose to $3.80, a 16% increase year‑over‑year, while its payout ratio sits at roughly...
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Nontaxable Dividends: What It Means, How It Works
Nontaxable dividends are payouts from mutual funds or regulated investment companies that invest in tax‑exempt securities, most commonly municipal bonds. Because the underlying interest is federally tax‑free—and often state‑free for residents—it passes through to shareholders as exempt‑interest dividends. Investors receive...
A Silent Tax Threat May Be Lurking in Your Portfolio
Investors often overlook asset location—the practice of placing investments in the most tax‑efficient account type. A Motley Fool Money discussion highlighted that holding tax‑inefficient assets like bond funds in taxable brokerage accounts can erode returns, while Roth and traditional retirement...
What Tax-Time Mistakes Reveal About Hidden Planning Gaps for High-Net-Worth Investors
Tax season exposes coordination gaps among high‑net‑worth investors, where fragmented advice leads to last‑minute decisions on retirement contributions, crypto gains, and charitable gifts. The root cause is siloed professionals—tax advisors, estate attorneys, and financial planners—who lack shared visibility into each...
UHNW Families Rebalancing Portfolios Amid Iran Fallout, Spelling Opportunity for Advisors
Ultra‑high‑net‑worth families are shifting 15‑20% of their holdings as the Iran conflict disrupts oil markets and fuels inflation and currency volatility. deVere Group reports a surge in its Family Office division, with clients rebalancing assets, jurisdictions, and governance structures. The...
Oakmark Equity and Income Fund’s Q1 2026 Investor Letter
Oakmark Funds, managed by Harris Associates, released the Oakmark Equity and Income Fund’s Q1 2026 investor letter. The fund held 56.1% equities, 40.2% fixed‑income and 3.7% cash. In the quarter the equity segment fell 5.16% versus a 4.33% decline in the...
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FINANCIAL WELLNESS COACH: How to Prepare Your Investment Portfolio for Retirement Income
Kenny Meiring advises anyone three years from retirement to evaluate whether a living annuity or a life annuity best fits their income needs. A life annuity typically offers about a third more monthly income for a 65‑year‑old but locks in...
Higher Bracket only Taxes Income Within that Range
I know someone who declined a promo because he thought the increase would push him into a higher tax bracket and make all his income taxed at that rate. In reality, only the income within the new tax bracket is taxed...
Start Early, Invest Patiently, Let Time Build Wealth
Building wealth starts with thinking ahead. What you invest in today will shape your future. Instead of focusing on quick wins, remember that success often comes from steady, patient moves that add up & the earlier you start, the more...
Citibank Launches AI-Driven Wealth Tool, Sparking Privacy and Compliance Debate
Citibank has introduced an AI‑powered advisory feature for its wealth‑management customers, offering real‑time portfolio insights and automated note‑taking. The rollout has triggered immediate scrutiny from regulators and privacy advocates over data usage, model transparency and compliance risks. The bank says...
Elmwood Boosts Stake in Goldman Sachs S&P 500 Premium Income ETF to $6.34 M
Elmwood Wealth Management filed a 13F on April 9, 2026 showing it bought 48,851 shares of the Goldman Sachs S&P 500 Premium Income ETF, lifting the position to $6.34 million. The move brings the ETF to 1.75% of Elmwood’s reportable assets, underscoring growing institutional...
Question Time: Diversify Away From Tech (VIDEO)
The latest Alhambra Research video urges investors to scale back tech holdings. It notes that the tech‑heavy Nasdaq has slipped roughly 15% this year as interest rates rise. The analysts highlight that diversified, multi‑asset portfolios have delivered better risk‑adjusted returns....
Ask a Chief Product Officer: What's Driving Annuity Innovation Today
Retail annuity sales in the United States topped $460 billion in 2025, marking the fourth consecutive record year, as market volatility, longer lifespans, and the erosion of traditional pensions fuel demand for guaranteed income. Providers are responding with hybrid products that...
Tech Provider Targets Growing Crypto Demand Among Advisors, Clients
Broadridge Financial Solutions has launched a digital‑asset platform for Canadian wealth‑management firms, allowing them to integrate cryptocurrencies and tokenized assets alongside traditional investments. The solution consolidates trading, custody, servicing, communications and compliance into a single infrastructure, supporting both advisor‑led and...
Invest $300‑$1500/Month, Grow
Investing takes time and time will pass regardless. So why not build wealth in the meantime? Here’s how much you could have in 20 years depending on how much you invest: $300/month = $206,190 $500/month = $343,650 $700/month = $481,110 $1K / month = $687,300 $1.5K/...
3 Technology Mutual Funds to Buy as the Sector Rebounds After a Slow Start
The technology sector, hampered by rising bond yields, interest‑rate uncertainty, and geopolitical tensions, posted weak returns early in 2026, dragging down tech‑focused ETFs such as XLK. Recent earnings clarity, more attractive valuations, and expectations of stabilising rates have sparked a...
3 Portfolio Fixes to Make Now for 100-Year-Plus Lifespans
Medical breakthroughs and AI‑driven therapies are extending average lifespans toward 100 years or more, forcing wealth managers to rethink traditional retirement planning that assumes a 90‑year horizon. Toews Asset Management’s Eben Burr argues that longer health spans demand higher, more...
UK Chancellor to Review Double Taxation Rules in Bid to Attract Expats
UK Chancellor Rachel Reeves announced a review of the UK‑US double taxation rules that currently force American earners to pay tax in both countries after moving to Britain. The move follows the 2025 abolition of the non‑dom regime, which left...
Did AI Kill Coast FIRE?
Coast FIRE lets people quit high‑pay jobs, keep a modest side hustle, and rely on portfolio growth to fund retirement. The rise of generative AI threatens that side‑income by automating many white‑collar gig tasks, as seen in the recent 50%...
Private Trust Company Design Considerations for Family Wealth Planning
In this episode, ACTEC Fellow Elise McGee explains the key design considerations for private trust companies (PTCs) used by ultra‑high‑net‑worth families. She clarifies why a PTC should be separate from a family office, outlines regulatory choices between regulated and unregulated jurisdictions,...
Morningstar: 60/40 Model Beats Diversified Portfolios Over the Long Term
Morningstar’s 2026 Diversification Landscape report finds that while diversified portfolios outperformed the traditional 60/40 mix in 2025, the classic allocation delivered higher risk‑adjusted returns over 10‑ and 20‑year horizons. The test diversified portfolio, which added international stocks, multiple bond segments...
Goldman Sachs Posts Record Q1 Profit as Equities Surge, Wealth Management Inflows Hit $62B
Goldman Sachs delivered $5.6 billion in net earnings for Q1 2026, driven by a record $5.3 billion equities segment and $62 billion of net inflows into its Asset & Wealth Management business. The surge in equities revenue helped offset a $4 billion FICC shortfall, underscoring...
Firms Deliver Consistent Retirement Advice without Formal CRP, Research Finds
A recent NextWealth study, sponsored by Brooks Macdonald, found that while only 56% of advisory firms have a formal Centralised Retirement Proposition (CRP), a majority already employ its core elements. Over 80% assess retirement risk consistently, 79% maintain a regular review...
Grab These 3 Energy Mutual Funds for Marvelous Returns
Oil mutual funds are gaining attention as global energy demand rebounds and oil prices stay resilient despite volatility. Geopolitical tensions, OPEC+ production cuts, and under‑investment in new projects have created a supply‑demand imbalance that benefits the sector. Zacks highlights three...
One Good Call?
A financial advisor demonstrated the value of active macro management during the 2022 bond market crash by moving a client’s portfolio into ultra‑short duration bonds and cash, thereby avoiding a 13% drawdown. The firm later rotated back into short‑ and...
Charlotte Davey: Planning in the Age of the ‘Great Wealth Transfer’
The UK‑centric "great wealth transfer" will move roughly £5.5 trn (about $7 trn) of assets between generations by 2050. Younger investors are already active – over 90% use paid advice and nearly half of Gen Z and Millennials invested in the past year....
How To Avoid The Pain of Estimated Tax Payments in Retirement #301
In episode 301 of Retire with Ryan, host Ryan Morrissey explains why underpayment penalties for estimated taxes are soaring—$1.3 billion in 2024, triple the 2021 amount—and how retirees can avoid them. He outlines the IRS’s safe‑harbor rules (paying 90% of the...
Tax Write-Offs that Canadians Often Get Wrong
Canadians frequently claim expenses that the Canada Revenue Agency does not allow. The article debunks several myths, noting that safety‑deposit‑box fees were eliminated in 2013, RESP contributions are not deductible, mortgage interest only qualifies when the loan funds an investment...
Small Fees Turn $10k Into $180k Difference
This chart shows the growth of $10k over 50 years with a 7% return vs a 7% return minus a 2% fee (high AUM, fees, etc) Difference is ~$180k on just $10k initial investment Please pay attention to fees
Cliff Asness on Diversification: The Real Risk Investors Miss
Cliff Asness and AQR argue that a recent positive stock‑bond correlation is not a cure for diversification problems. The report warns investors against swapping bonds for assets that merely track equities, such as private credit, leveraged equity products, or Bitcoin....
Choose Early Curiosity Over Waiting for Proof
A bias I've never been able to break is finding the energy/enthusiasm to do work on companies multiple people are already talking about publicly. It's probably hurt me over the years. But I do think a big part of this...
Battery Prices Keep Dropping, Reshaping Portfolio Strategies
🆓 Tuesday links: finding great ideas, overdiversifying your portfolio, and declining battery prices. https://t.co/QGbSHqpwzA chart: https://t.co/X0xCKyP5KB https://t.co/vgLndjI4h8
Quantum Market Set to 10x by 2035, Stocks Cheap
McKinsey estimates quantum computing market to grow ~10x by 2035 Quantum computing stocks were crushed during the recent selloff and the risk/reward now looks good. https://t.co/Bgr7oW49kB
Use $JOJO to Complement Bonds During Spread Expansions
$JOJO is a complement, not a replacement. Add it alongside your core bond allocation for tactical credit rotation. When spreads blow out, you'll want this in the portfolio. https://t.co/xlY97itNk2
Optimal Return Stacking Requires Defined Base, Objective, Constraints
One question I get all the time with return stacking is, "what does the optimal stack look like?" Without constraints, it's an intractable question. What's our base? What's our objective? What are our constraints? We explore this in a new blog...
Asset Types
It's an honor to contribute to our team's annual survey of diversification and correlations. Here, @AmyCArnott1 calls out which asset types bring something to the diversification party and which don't deliver. Her piece includes a link to the full paper....
April 14 Tactical Update: New Portfolio Tweaks Unveiled
(PREMIUM) "Tactical Update: April 14, 2026 - All The Trimmings..." Tuesday A.M. portfolio tweaks... via The Lyons Share https://t.co/imbOEcrTTV https://t.co/cMdMjNVjrm
Best Returns Follow Market Lows, Invest Through Fear
Every time the market feels the worst, it’s the beginning of something better. Since 1949, the S&P 500 has returned +38% on average in the year after bear market lows. The hardest time to invest is when the biggest opportunities appear. https://t.co/EQJa1ErbAB
Big Tech Valuations
Big Tech NTM PE near COVID-crash + '22 bear mkt lows The risk/reward is favourable. AI + software stocks are like coiled springs https://t.co/zDyYRJ2Sdv
Pay Yourself First: $500 Monthly Boosts Finances
Consistently depositing $500 a month into your trading account will transform your finances. Learn to pay yourself first.
Rich's Disciplined Microcap Strategy Ranks Top 1%
Rich doesn't do many interviews. He brings a very disciplined approach to microcap/smallcap and ranks in the top 1% of all US equity strategies since inception. Worth a listen.