Wealth Management
A massive structural shift is underway as advisors leave traditional brokerages for independent RIA platforms, with billion-dollar breakaway teams now commonplace and virtually no one returning to wirehouses.
The appeal starts with compensation: independent advisors often keep 60–65% of revenue versus 40–50% at big firms, while also gaining ownership, equity value, and access to record-high valuation multiples that can approach 20x EBITDA. Client demand accelerates the trend, as families increasingly prefer the transparency, personalization, and multi-custody flexibility that independent RIAs offer, features once reserved for ultra-wealthy family-office clients.
The independent channel has also matured, evolving into a landscape of large, professionally managed enterprises with advanced technology, acquisition resources, and digital onboarding able to transition billions in weeks.
Finsum: With rising valuations, regulatory tailwinds, and private capital flooding the space, independence is no longer a fringe option.
- London stands out as one of Europe’s most iconic Christmas destinations, radiating festive charm throughout the season. From the dazzling lights along Regent Street and Oxford Street to bustling holiday markets and cozy pub culture, the city embodies the spirit of Christmas in a way few places can match. Its streets, often featured in classic holiday films, come alive with music, decorations, and an unmistakable sense of wonder that draws visitors from around the world.
- Amsterdam offers another magical holiday escape, blending historic canals with sparkling lights and a warm, welcoming atmosphere. The city is especially appealing to international travelers thanks to its wide range of Christmas-themed tours offered in multiple languages, making it both festive and accessible.
- Nuremberg, Germany, remains a timeless Christmas favorite, renowned for hosting some of the oldest and most cherished holiday markets in the world. Its medieval streets overflow with handcrafted gifts, traditional treats, and the aroma of mulled wine, creating an authentic Old World holiday experience.
Finsum: Together, London, Amsterdam, and Nuremberg each offer their own distinctive version of Christmas magic, making them three of Europe’s most captivating places to celebrate the season.
Many investors today fear outliving their savings, a concern intensified by market volatility and persistent inflation, creating an opening for advisors to rethink how they deliver reliable retirement income solutions.
Although annuities can address longevity risk, outdated perceptions of high fees and complexity still discourage clients, even though modern, low-cost versions now exist. To rebuild trust, advisors must simplify the experience by focusing on outcomes such as guaranteed lifetime income, downside protection, and tax-deferred growth rather than product jargon.
Annuities also work best when integrated into a broader financial plan, balancing market exposure, liquidity needs, taxes, and estate goals instead of being presented as standalone products.
Finsum: Ultimately, transparency, clear communication, and honest comparisons will help advisors shift annuities from misunderstood products to trusted tools.
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The 401(k) system has significantly expanded retirement security, but many Americans still struggle to save due to rising living costs, shifting social norms, and limited access to plans. Looking ahead, five major trends are poised to reshape the industry: affordability pressures, new legislative and regulatory developments, increased consolidation and collaboration among providers, rapid innovation, and the rise of professional fiduciary services.
Inflation and overlapping life milestones are making it harder for mid- and lower-income workers to prioritize retirement savings, increasing the importance of tools that support better habits and financial decision-making.
Industry consolidation and wealth-retirement integration are creating more scalable, participant-focused models, while innovations like personalization, AI, CIT expansion, and retirement income solutions are transforming plan experiences.
Finsum:The growth of OCIO services and pooled employer plans is expanding fiduciary support, especially for smaller employers.
Factor investing builds portfolios using characteristics such as value, momentum, quality, volatility, or size that have historically improved returns while reducing risk. Though not new globally, long used by institutional investors, it has recently become more accessible to everyday investors through rule-based mutual funds and ETFs.
Factor investing is still a prominent strategy, with single-factor and multi-factor strategies designed to balance performance and reduce reliance on any one factor.
The approach offers transparency and lower costs compared to traditional active management, since decisions follow algorithms rather than human judgment. However, factor strategies carry risks, including the possibility that past patterns may not persist and that widespread adoption can reduce their effectiveness.
Finsum: Ultimately, factor investing is likely here to stay, and is a time tested investment strategy.’
Bitcoin has fallen under $92,000, extending its pullback from October’s record highs and raising questions about whether this is a brief correction or the start of another four-year cycle downturn.
Analysts point to last month’s $19 billion in liquidations, combined with profit-taking by long-term holders, as key drivers of the recent slide. The decline also coincides with bitcoin’s historically vulnerable post-halving window, creating what some call a “self-fulfilling prophecy” of selling pressure.
Still, firms like Bernstein argue the data supports consolidation toward a new bottom rather than the massive 60–70% drawdowns seen in past cycles. Institutional ETF adoption, supportive signals from the Trump administration, and continued large-scale.
Finsum: A break below the critical $93,000 level could also trigger a major buying opportunity for investors.