Health Savings Accounts offer Americans a tax-free way to save for medical expenses. Now, some are using them to trade stocks — and dabble in risky bets they wouldn't touch in their 401(k) or brokerage accounts.
Municipal bonds posted their best month since 2023. See how high-yield muni ETFs help advisors capitalize on the municipal market recovery.
The broad markets experienced volatility in the 3rd quarter with concerns over the impact of energy prices on inflation as well as CapEx spending by hyperscaler companies in the AI space driving technology stocks. The price of WTI Crude oil rallied sharply during the quarter by nearly 30%.
Last year, U.S. charitable giving hit a record $617.20 billion, according to Giving USA. That’s the first time it’s ever topped $600 billion. Individuals gave $394.2 billion of that, foundations gave $117.15 billion, bequests added $62.19 billion and corporations contributed $43.67 billion.
Insurance-licensed RIAs grew fastest as fee-only firms’ asset share fell to 34%, though fiduciary clients report higher satisfaction.
In this article, Russ Koesterich discusses how tech strength is hiding broader market weakness, as higher rates begin to weigh on rate-sensitive sectors.
We see a reason for advisors to evaluate the support surrounding the strategy. Questions about onboarding existing holdings, applying restrictions, monitoring tax budgets and managing ongoing trading belong with the implementation provider. Understanding exposures and portfolio fit is where our consultation team can help.
Tokenization has taken hold in money market funds, leaving ETFs room to grow, while Cerulli eyes private markets as the long-term prize.
Headlines are popping up left and right about how high the 10-year Treasury yield has risen. While investors make decisions about what is the “right” longer-term cost of government debt, many journalists focus on single-factor ways of viewing it.
In 1954, golfer Tommy Bolt won the inaugural Rubber City Open at Firestone Country Club in Akron. Four years later, he returned to Akron as the reigning US Open champion, where in the third round he was paired with an 18-year-old amateur making his tour debut.
Investment performance is often measured by what a portfolio earns. But for investors with substantial assets across taxable, tax-deferred, and tax-free accounts, what they keep after taxes can be just as important.
Rising interest rates can affect more than investment portfolios. Explore how changing IRS interest rates may influence several estate, charitable and tax-planning strategies.
If you only looked at the price of gold in September, you’d be forgiven for believing the bull market had run out of steam. The yellow metal fell 6.3% during the month, and some in the financial press were quick to say it had failed as a safe haven.
September’s fixed income sell-off marked a watershed moment for muni bond markets, delivering the steepest drawdown since the 2008 Great Financial Crisis. As benchmark yields spiked, prices across muni ETFs fell in tandem, and the volatility has not let up. This week, both 10-year and 30-year Treasury yields climbed to their highest levels since 2002.
Today, we’re going to look at a lot of various data points and analysis, that when taken together give us a much clearer picture of the total world.
Munis can fund local power, grid, water and wastewater infrastructure; most AI campus capital will be financed in non-municipal markets.
Explore how muni bond ETFs and targeted state funds can provide tax-efficient yields and strategic flexibility heading into 2027.
The Securities and Exchange Commission is proposing a series of moves to help expand retail investor access to private markets, so more individuals can access private equity, early-stage startups and other assets.
Before evaluating whether a long-short strategy belongs in a portfolio, we think it helps to understand what's actually happening under the hood. Let's start at the beginning.
Northern Trust Asset Management will move six mutual funds with $33 billion in assets into ETFs in early 2027, its first such conversions.
Second-quarter earnings were strong, particularly in technology, but crowded ownership often determined whether good news was rewarded. The selloff in semiconductors arguably reflected crowded positioning and concerns surrounding the sustainability of the earnings boom. The net result: multiples compressed while earnings revisions held up.
This week, there are a few things that we need to pay attention to: the large move in interest rates and what it means (and more importantly, what it doesn’t mean!); and the constant barrage of doom and gloom on energy and AI. Let’s jump in.
Investment bubbles are inherently dangerous beasts. Like a natural Ponzi scheme, an investment bubble needs to draw in ever larger amounts of capital to keep it going. Nothing attracts capital like apparent success, so an inflating bubble that is creating fortunes for those who got in early will inevitably draw in capital. Unfortunately, this means the amount of money lost when the bubble bursts can outstrip the gains created on its way up.
Cathie Wood is putting one of her investment funds on the blockchain for the first time, deepening her ties to the growing world of tokenized assets as Wall Street experiments with a new financial infrastructure.
Artificial intelligence is advancing at a stunning, and perhaps uncontrolled speed. Last week, Evan Hubinger, the Alignment Science Lead at the AI company Anthropic estimated a greater than 10% chance that AI could eliminate humanity within a decade. Jakub Pachocki, Chief Scientist at OpenAI, recently observed 'The core problem in AI research is that of alignment - getting the AI to ‘try to do the right thing’ by human standards…
A spinout from the family office for the billionaire owners of US construction giant Michels Corp. is expanding its public equities strategy with a fund focused on US infrastructure.
The 2026 U.S. midterms are rapidly approaching, with major implications. Muni bonds, in particular, may be impacted.
ETFs are increasingly breaking down the wall between public and private markets. Asset managers are finding ways to “ETF-ize” private equity and pre-IPO holdings — giving retail investors liquid, fractional access to growth opportunities historically restricted to institutional and accredited buyers. As companies stay private longer, the most explosive growth phases of high-profile startups often occur off public exchanges.
Demand for fixed income ETFs hit a historic high-water mark in September. Investors and advisors turned to fixed income ETFs at a record-breaking pace, driving 2026 net inflows of $446 billion past all-time levels with months to spare. The massive tide of capital arrives at a critical juncture.
ETF share classes represent a structural innovation that combines the benefits of mutual funds and exchange-traded funds (ETFs) within a single pooled portfolio. This evolution expands investor choice, offering both ETF and mutual fund shares under a unified investment strategy.
In this article, Russ Koesterich argues that momentum remains supported by strong earnings growth, making the factor attractive despite market risks.
Elevated interest rates have investors scrambling for yield, and munis have been ready to answer the call with tax-exempt income.
LPL Research analyzes rising U.S. debt, Treasury yields, and fiscal trends, highlighting implications for markets and investors.
The U.S. ETF market reached $16.4 trillion in AUM in August 2026, driven by record product launches and a defensive shift to Treasuries.
If you look deeply into a speculative bubble, you can already see the collapse. If you look deeply into a market collapse, you can already see the bull market. The road up and the road down are the very same road. Even so, aside from knowing that our investment position presently requires a safety net regardless of shorter-term conditions – we have utterly no opinions, preferences, or scenarios about the market outlook even a month or a quarter from now.
In this article, Russ Koesterich explains how strong fundamentals have supported stocks, but rising bond yields may soon begin to challenge market valuations.
The recent IPO of SpaceX and the anticipated IPOs of Anthropic and OpenAI are focusing attention on how to invest following a liquidity event. Here, we discuss several important decision points.
Treasury’s pivot toward long-bond buybacks gives duration buyers their first clear green light in months — and the November midterms may add a second leg.
Investors are used to a swirling mass of scary headlines and geopolitical and monetary risk. Yen carry trade and yield concerns, however, may have some feeling of trepidation. Despite those risks, equities continue to appeal.
Markets are largely reducing expectations for a near-term U.S. Federal Reserve (Fed) rate hike, and we agree. July’s weak jobs report, the underwhelming retail sales report, and continued softening of the monthly inflation figures give the Fed room to stay patient in the coming months.
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.
On the first few trading days of every month, America’s paychecks hit the stock market. Most 401(k) contributions now default into index-tracking funds, which buy the same stocks in the same proportions whatever the price.
Morningstar's study, Mind the Gap 2026 reveals a 1.2% return gap. Learn how financial advisors can use automation to protect client wealth.
High-yield municipal bonds are one of the best performing asset classes this year but that doesn't mean we think all investors should consider adding them to their portfolio.
Hedged equity as a liquid alternative uses an options-based equity strategy — specifically Swan Global Investments’ Defined Risk Strategy (DRS), in continuous operation since 1997 — as a permanent alternatives allocation that stays invested in the equity market while actively managing downside risk through LEAPS put options
There is no one-size-fits-all approach to choosing between individual bonds and bond funds. The choice depends on an investor’s goals, time horizon, risk tolerance, need for predictable income, and available assets.
We provide research and advice on asset allocation, the selection and weighting of various investment categories. Subject to internal review and governance, our recommendations guide the investment decisions in our family of mutual funds and institutional client portfolios.
San Juan, the economic hub of Puerto Rico, triggered a rush for its $121 million muni-bond sale this week, as investors seized a rare opportunity to get exposure to island.
Investors remain cautious despite bullish positioning, as rotations curb speculation while record margin debt and high equity allocations raise longer-term risks.
In this article, Russ Koesterich explains how the recent market rotation has pressured tech stocks while creating an attractive long-term buying opportunity.
