Wealth Management

The right level of regulation requires careful calibration.

The second quarter’s rapid recovery from April’s market volatility reminds us how powerful a systematic rules-based approach to tax management can be.

Uncertainty has not impaired overall economic performance.

A full three months since President Trump’s “Liberation Day” tariff announcements sparked panic in financial markets, macro developments have been benign. The passage of the Big Beautiful Bill has brought clarity on the fiscal outlook, but uncertainty on trade negotiations remains. Franklin Templeton Fixed Income CIO Sonal Desai explains what this means for investors going forward.

Three ETF strategies that launched in June stand out, bringing something interesting to the table for investors.

As we reach the midpoint of 2025, we reflect on the notably volatile trajectory of bond yields so far this year, considering the potential opportunity for tax-aware fixed income investors to harvest losses.

In this month’s issue, Franklin Templeton Emerging Markets Equity explains how markets in many regions are weathering US policy uncertainty and offers an upbeat assessment of Vietnam after a recent research visit.

In this article, you’ll learn how to evaluate crypto ETFs with the same rigor you apply to traditional investment products.

At the recent 2025 Morningstar Investment Conference, CEO Kunal Kapoor highlighted a growing trend that is reshaping the investment landscape.

ClearBridge Investments believes positive forces from One Big Beautiful Bill Act passage and future interest rate cuts should soon outweigh negative forces of tariff actions.

Elevated interest rates and market uncertainty make for an interesting tandem regarding getting core bond exposure. When considering yield, reinforcing a portfolio to absorb market shocks, or both, consider this active option from Vanguard: the Vanguard Core-Plus Bond ETF (VPLS).

In the latest Alternative Allocations, with guest Brian Ullsperger from Andersen, Tony Davidow examines the traditional 60/40 portfolio and how it can be expanded to include alternatives to meet clients’ needs.

Tariffs have been the dominant theme in economic policy this year. While President Trump has long held protectionist views, his administration’s approach to international commerce has been more belligerent than was seen in his first term.

This quarter might best be described as the “Big Beautiful Bounce”. Or the BBB. History has proven time and time again that markets do come back – but this was a historically quick market turnaround.

Sharp U.S. policy shift and elevated uncertainty reflect an evolution of the new macro regime. What matters: getting a grip on uncertainty by identifying its core features.

Proposed regulatory changes involving the Supplementary Leverage Ratio may have benefits for both large banks and the Treasury market.

We began the year optimistic that an environment of slowing growth, disinflation and easier monetary policy would be favorable for fixed income markets. Now at midyear, we maintain that view, while acknowledging that policy uncertainty and geopolitical risks may likely result in continued volatility.

An economy cannot subsist on services alone.

For sophisticated investors, this technical shift marks a subtle but powerful pivot in monetary mechanics. It could create demand for Treasuries, improve market liquidity, and push yields lower at a time when the economy is slowing.

In a speculative market chasing AI and high beta, this report makes the case for the steady power of compounding dividends reminding investors that, especially late in the cycle, a bird in the hand may truly be worth two in the bush.

Only a subset of subsidies will be rolled back.

Growth is expected to decelerate, but not come crashing down.

In a recent newsletter, we explored the explosive growth of ETFs and the implications for portfolio construction. In this follow-up blog post, Lauren and I wanted to take that conversation a step further—diving deeper into how advisors can navigate the ever-expanding ETF universe while staying true to their investment philosophy.

Chief Economist Eugenio J. Alemán discusses current economic conditions.

As the advisory landscape continues to evolve, one theme is increasingly clear: advisors need more flexibility to meet the diverse and growing expectations of their clients.

The Fed left rates unchanged and signaled it’s still in wait-and-see mode, even as inflation risks and policy uncertainty persist.

As tax policy discussions continue on Capitol Hill, the Senate Finance Committee recently released its version of the tax bill that would avoid the expiration of the Tax Cuts and Jobs Act (TCJA).

Former Federal Reserve Vice Chair Richard Clarida explains where yields may be headed, as well as positioning considerations for the long-run by charting the relationship between r* and term premium.

Target-date fund glide paths can be important tools for retirement planning. Advisors should focus on assumptions, transparency, and outcomes to ensure they align with participants' needs.

OBBBA sets a path for more borrowing ahead.

The US Census Bureau’s May retail sales report came in weaker than expected, with the headline measure — total nominal sales — down 0.9% on the month. It’s the largest drop in nearly two years and reflects broad-based softness across categories like autos, gas stations, and restaurants.

It’s said nothing in life is certain save death and taxes. There is also certainly an increase in investors’ appetites for nontraditional instruments like hedge funds as their wealth grows.

Raymond James Ltd enters into agreement with FNZ to accelerate its digital transformation

How do direct indexing ideas fit into a fixed income portfolio? These two powerful strategies make one compelling combination with potential tax and risk management opportunities.

Foreign demand for U.S. Treasuries remains intact.

We have seen a lack of conviction from the Federal Reserve (Fed) in previous opportunities. Last year, during the first quarter, Fed members were spooked, as inflation numbers moved higher, changing their view on the path forward regarding interest rates.

The current round of budget discussions in Washington will have a significant impact on America’s fiscal trajectory decades into the future. A key underpinning of this year’s debate has roots that go decades into the past.

When navigating the unknown, an experienced guide can ensure you don’t veer off the path to your chosen destination, can prevent you from stumbling over hazards, and ensure you have the tools you need to finish the journey safely and soundly.

This week the news is about the Israel-Iran conflict. It’s terrifyingly real for those in the crossfire, while we who are safe naturally wonder what it means for us. As investors, we think about the economic and market effects. But are we seeing signal or noise?

At Parametric, our years of experience have taught us that markets can swing up and down quickly and without warning. Since no one can time these swings, we believe it's imperative to seek both loss harvesting and benchmark tracking simultaneously.

How big data, AI and the human element can combine to better pursue consistent alpha.

New strategies, shifting flows, and innovative technologies are driving a more dynamic and diversified marketplace in fixed income ETFs.

It's important to consider non-hardship 401(k) withdrawals carefully. Our Bill Cass explains why individuals should check plan eligibility and consider asset protection and tax implications.

The U.S. economy is growing accustomed to elevated uncertainty.

We remain bullish about many of the corporate changes taking place in Japan. Toyota Group recently announced it was taking Toyota Industries private (its auto parts and forklift business) to simplify the group’s structure.

If there is something the Federal Reserve (Fed) does not want to see today, as it approaches next week’s Federal Open Market Committee (FOMC) meeting, it is a shock to oil prices.