LPL Financial’s new Advisor Growth Study (AGS) analyzed six years of data from more than 14,000 advisory practices to uncover the behaviors that drive consistent, sustainable growth. Using supervised machine learning and explainable AI, LPL developed the Advisor Growth Index, a diagnostic tool that benchmarks advisor performance across client acquisition, development, and retention. 

The research found that firms demonstrating even two of the four core growth habits outperformed peers by fivefold. These high-growth advisors build a strong foundation by focusing on scalable operations and long-term clients, with a balanced client age mix under 60 and fewer than 35% in decumulation. 

They also segment clients strategically, prioritizing service to those with high assets or complex needs, while maintaining deep engagement with existing relationships to strengthen retention and generational continuity. 

Finsum: Data-driven client acquisition, leveraging M&A, digital marketing, and centers of influence, can help grow new client assets.

Large-cap blend funds, core holdings that mirror the U.S. stock market, have posted strong results, returning 15.84% over the past year, 22.50% annually over three years, and 14.81% over five. Morningstar data identified 15 standout funds with top-quartile returns across one-, three-, and five-year periods, including American Funds Fundamental Investors, AQR Large Cap Multi-Style Fund, and Vanguard 500 Index Fund. 

The American Funds Fundamental Investors fund rose 23% in the past year, boosted by global exposure and a refreshed management team, while The Investment Company of America fund gained 22.25% with a balanced focus on dividend growth and capital appreciation. 

AQR’s Large Cap Multi-Style Fund outperformed its peers with a 23.52% annual gain, leveraging value, momentum, and quality factors to manage market sensitivity efficiently. 

Finsum: These funds demonstrate that disciplined diversification, data-driven strategy, and cost efficiency continue to drive superior long-term performance.

Coinbase Asset Management and Apollo have partnered to launch tokenized credit products, combining Apollo’s private credit expertise with Coinbase’s blockchain infrastructure to introduce new stablecoin-backed strategies in 2026. Their initiatives follow the GENIUS Act, which established the first U.S. federal framework for stablecoins and is expected to drive the market to $3 trillion by 2030. 

Meanwhile, fund managers such as Hamilton Lane and Laser Digital have begun tokenizing credit funds via KAIO, a protocol purpose-built for institutional-grade onchain assets, with over $200 million already tokenized. KAIO, backed by Nomura, recently integrated with the Sei blockchain to provide fast, compliant access to funds like Hamilton Lane’s senior credit platform and BlackRock’s ICS US Dollar Liquidity Fund. 

In a related move, Securitize announced plans to go public through a merger with Cantor Equity Partners II, valuing the company at $1.25 billion and positioning it at the forefront of a $19 trillion market for real-world asset tokenization.

Finsum: Demand for tokenized assets is rising sharply, with Broadridge reporting that while only 15% of asset managers currently offer tokenized funds, 41% plan to do so soon.

The SEC’s pending approval of dual share classes marks a major turning point for ETFs, allowing mutual funds and ETFs to share the same underlying portfolio. Dimensional Fund Advisors, which has long pursued this exemption, is expected to be the first mover once operational logistics are in place. 

Industry leaders say investors will benefit from the ability to convert between mutual fund and ETF shares without triggering taxes or transaction costs, though custodians must update systems to enable this functionality. 

Firms like F/m Investments are preparing to launch mutual fund versions of existing ETFs to expand into retirement markets, while others, such as Touchstone Investments, anticipate a slower rollout due to operational hurdles 

Finsum: Fund boards will play a critical oversight role, ensuring proper governance, investor education, and alignment between fund structures as this transformation unfolds.

Assets in European active ETFs have more than doubled in two years to reach €62.4 billion, though they still make up only 2.6% of Europe’s total ETF market—far behind the 10.2% share in the U.S., signaling early-stage adoption. Investor interest is rising, with €13.4 billion in inflows so far in 2025 following €18.4 billion in 2024, yet active ETFs still represent just 6% of total European ETF flows. 

JP Morgan continues to dominate with a 56% market share, followed by Fidelity and Pimco, while new players like HSBC, Avantis, and Goldman Sachs are intensifying competition and pushing fees lower. 

Equity offerings are mostly “shy-active”, benchmark-aware strategies seeking modest outperformance, while fixed-income active ETFs have quietly excelled, expanding into complex areas like CLOs and mortgage-backed securities with strong early results. 

Finsum: Overall, Europe’s active ETF market is maturing rapidly, blending innovation, cost competitiveness.