Gold futures spiked sharply above spot prices after reports suggested the U.S. would impose unexpected tariffs on 1 kg and 100 oz bars, a major disruption for Switzerland, the global refining hub. 

These bar sizes are central to U.S. trading, and the sudden policy shift triggered short-covering and a widening of the exchange-for-physical (EFP) spread, echoing past dislocations during COVID and earlier tariff fears. The turmoil has raised doubts about the reliability of New York futures markets for price discovery, as policy volatility increasingly distorts trading signals. 

Meanwhile, the December gold contract hit a record $3,534, but analysts caution that spot prices, not futures, reflect gold’s real value. A similar drama unfolded in copper markets, where a tariff scare caused prices to soar—only to collapse when Trump reversed course. 

Finssum: Heavy trader losses, bloated U.S. inventories, and mounting questions about the integrity of U.S. commodity pricing amid tariff uncertainty are the result.

Morningstar’s latest 2025 research shows that managed accounts can significantly improve retirement outcomes for defined contribution plan participants, especially those not on track. Among 84,875 users studied, 73% were initially projected to replace less than 70% of their salary in retirement, and 65% of those increased savings after enrolling in the managed account service. 

These participants, often self-directors without target-date funds, also saw a 33% median increase in deferral rates, with 10% raising contributions enough to maximize employer matches. The service functions similarly to a robo-advisor, offering personalized recommendations based on full financial profiles and the plan’s fund menu. 

For younger users and off-track investors, Morningstar found substantial improvements in projected retirement wealth and income—up to 43% and 26%, respectively. 

Finsum: These results reinforce the value of managed accounts in driving healthier savings behavior and more prudent portfolio construction within workplace retirement plans.

The Nationwide Strategic Income Fund (NWXHX) has surpassed $1 billion in assets under management, reflecting strong investor demand and consistent outperformance. Since its 2015 inception, the fund has averaged a 6.07% annual return, 2% higher than its peer group, and earned a 5-star Morningstar rating. 

Its flexible, benchmark-agnostic strategy allows the fund to adapt to changing markets, guided by a seasoned management team with over a century of combined experience. The fund invests across fixed income sectors and can serve as a core or complementary bond holding. 

Following Amundi US’s merger with Victory Capital, the fund was renamed in June 2025 but retained its structure, management, and investment approach. As its profile rises, Nationwide emphasizes institutional-level oversight and manager selection to deliver long-term value.

Finsum: Strategic income invests across fixed income sectors and can serve as a core or complementary bond holding.

Uranium ETFs have gained traction as investor interest in clean energy and nuclear power—especially in the context of artificial intelligence’s energy demands—has grown. Although the uranium ETF market is still in its early stages, net inflows have been rising steadily, with equity-based ETFs dominating due to the lack of SEC-approved physical uranium funds. 

Major offerings like the Global X Uranium ETF (URA) and the Sprott Uranium Miners ETF (URNM) provide access to mining stocks and limited exposure to the Sprott Physical Uranium Trust (SPUT), which holds physical uranium but is structured as a closed-end trust. 

Canada remains the geographic hub for investable uranium stocks, and companies like Cameco dominate ETF holdings, while new entrants like the Roundhill and ProShares filings reflect continued market enthusiasm. 

Finsum: Until a true physical uranium ETF is approved, access remains indirect, and investors must weigh sector volatility and geopolitical risks.

For decades, private equity was the domain of ultra-wealthy investors, endowments, and pensions—but that’s rapidly changing as defined contribution (DC) plans like 401(k)s begin incorporating private market access. 

In a major shift, BlackRock and Empower are launching target-date funds that include private investments, with allocations between 5% and 20%, signaling the democratization of alternative assets for everyday retirement savers. This movement is being fueled by policy, with President Trump’s recent executive order directing agencies to support private equity and other alternatives within DC plans. 

The $12 trillion DC market is a major prize for private equity firms, who are now tailoring products to meet the liquidity and transparency requirements of retirement accounts. While private equity offers higher return potential, experts warn it also carries greater risk and limited transparency, raising concerns about suitability for all investors. 

Finsum: As public markets shrink and private companies stay private longer, including private equity in DC plans may become a necessary evolution in long-term retirement strategy.

The Hands Off Our Social Security Act, introduced in July by Reps. Melanie Stansbury and John Larson, would require congressional approval before the Social Security Administration (SSA) can make changes to benefits or services. The bill aims to protect SSA operations by blocking unauthorized data use, privatization efforts, workforce reductions, and office closures. 

Supporters, including Social Security Works and the National Committee to Preserve Social Security and Medicare, say the bill is a response to Trump-era staffing cuts and service barriers. 

Critics point to Treasury Secretary Scott Bessent’s recent comments about "Trump accounts" as evidence of ongoing privatization attempts, though he later claimed they would supplement—not replace—guaranteed benefits. Policy strategist Greg Valliere says such proposals have little legislative chance but reflect real pressure on both parties to address looming Social Security insolvency. 

Finsum: Keeping your clients abreast of the latest news in retirement, is a good way to build a trusting relationship. 

Annuities, once sidelined as overly complex or narrowly useful, are now experiencing a surge in demand as investors prioritize stability, protection, and predictable income in a volatile economic landscape. This shift is driven by pre-retirees and retirees rethinking traditional equity-focused strategies and seeking solutions that mitigate risks like sequence-of-returns. 

Fixed and fixed indexed annuities, in particular, offer competitive yields, downside protection, and guaranteed income, features especially appealing to mass-affluent households with limited pension coverage. 

The Great Wealth Transfer is also fueling interest, as boomers explore annuities not just for income but for legacy planning as well. Meanwhile, advances in digital tools and platforms have made annuities more transparent, accessible, and easier to incorporate into holistic financial plans. 

Finsum: Even as interest rates fluctuate, annuities are expected to remain a core solution for those seeking long-term financial confidence over short-term market gains.

Starting your own registered investment advisory (RIA) firm can be a rewarding move, especially amid a booming millennial client base and the $124 trillion wealth transfer underway. Advisors should begin by clarifying their personal and professional goals, then build a strong support team, including legal, compliance, tax, and marketing professionals, to ensure a smooth transition. 

It’s also essential to prioritize time wisely, balancing firm operations with client service and determining whether to outsource areas like investment management. Crafting an efficient tech stack is another foundational step, with core platforms for custody, CRM, portfolio management, and financial planning needed to streamline operations. 

Transitioning clients to the new firm must be handled carefully, ideally with legal guidance and a clear plan for targeting the ideal clientele. 

Finsum: With strategic planning and the right infrastructure, advisors can build scalable, client-centric RIAs ready to serve a changing generation of investors.

The July jobs report showed nonfarm payrolls rising by just 73,000, with major downward revisions to previous months, signaling that the U.S. economy may be slowing more sharply than expected. This has fueled recession concerns, especially as three-month average job gains dropped to just 35,000 and consumer spending, the key driver of GDP, remains tepid. 

Economists point to Trump-era tariffs and weakening labor market data as contributing factors, with some suggesting we may be on the brink of a recession, though GDP still rose 3% in Q2 due to import timing. 

Market reactions were swift: the Fed is now widely expected to cut rates in September, while stocks wavered amid political backlash and uncertain economic signals. Despite the White House expressing confidence, housing and manufacturing data continue to falter, and experts warn of potential consumer pullback. 

Finsum: While some remain optimistic about a soft landing, the outlook is increasingly clouded by high inflation, policy risk, and weakening employment trends.

KKR and Capital Group have announced plans to launch a hybrid investment fund, Capital Group KKR U.S. Equity+, giving investors access to both private and public equities. Slated for early 2026 pending regulatory approval, the interval fund will allocate 60% to publicly traded stocks and the remainder to private companies, with low investment minimums to increase accessibility. 

As private firms remain off public markets longer, the new fund aims to meet rising demand for diversified exposure and the potential outsized returns from private markets. Interval funds like this offer limited liquidity, allowing redemptions only during set periods, balancing investor access with long-term investing goals. 

The partnership builds on an earlier collaboration between KKR and Capital Group, which launched blended credit funds in April that have already attracted $100 million in assets. 

Finsum: With this new venture, investors can their stake in the growing trend of democratizing alternative investments for a broader investor base.