Wealth Management
Private equity’s long-standing infatuation with oil and gas appears to be cooling. In the first quarter of 2024, only five energy-focused funds reached final close, and notably, none raised over $1 billion—a stark departure from the sector’s 2014 heyday, when fundraising totals topped $78 billion globally.
Today, traditional hydrocarbons are taking a back seat as investor interest pivots toward renewable energy and broader energy transition strategies. This shift reflects growing pressure from institutional investors and ESG-conscious stakeholders who are increasingly wary of fossil fuel exposure.
The fundraising gap highlights more than just a cyclical downturn; it signals a structural change in capital priorities. With clean energy rising to the top of the private capital agenda, oil and gas funds may need to reinvent their value proposition—or risk being left behind.
Finsum: CNL Strategic Capital is focused on value creation so this might be a great opportunity to explore the latest trends in PE.
Edward Jones has expanded its separately managed account (SMA) offerings by adding 51 new strategies, bringing its total to around 120 as part of a broader effort to modernize and attract wealthier clients.
These SMAs, overseen by third-party asset managers, offer financial advisors more flexibility and personalization options, with plans to grow the lineup to 300 by year-end. Roughly 8,800 of the firm’s 20,280 brokers currently use SMAs, which appeal to higher-net-worth clients due to benefits like tax efficiency and tailored portfolios.
While Edward Jones doesn’t disclose specific SMA asset figures, about $860 billion of its $2.16 trillion in assets are held in advisory accounts. Edward Jones also introduced a proprietary SMA program last fall and continues to lower barriers for entry as SMA minimums become more accessible to a broader client base.
Finsum: These SMA offerings could be a game changer in the wealth management space.
Once viewed as a fringe asset, bitcoin is rapidly gaining traction with Fortune 500 firms, many of which are now embracing it as a legitimate component of corporate finance. Major players like Strategy (formerly MicroStrategy) and GameStop have turned to convertible notes and other financing mechanisms to amass sizable bitcoin holdings, effectively using the asset as both a store of value and a treasury strategy.
This shift has catalyzed the development of sophisticated instruments like structured notes—offering downside protection or leveraged upside—alongside Bitcoin-backed loans and custodial accounts with embedded yield features. While these tools may seem like responsible financial innovations, they walk a fine line between risk management and speculative engineering, especially as regulatory and accounting treatment remains murky.
The entrance of mainstream institutions and the approval of spot bitcoin ETFs have brought new legitimacy, but corporate treasurers still face complex questions about liquidity, governance, and portfolio fit.
Finsum: Whether bitcoin serves as a smart hedge or a risky gamble depends on each company’s capital strategy, tolerance for volatility, and long-term vision.
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Estate planning varies significantly by net worth, with high-net-worth individuals requiring complex trust-based strategies to reduce estate taxes and control asset distribution, while mass-affluent clients generally need simpler documents like wills and healthcare directives.
Because legal costs can be a barrier for these simpler needs, tech startups such as Wealth.com and Trust & Will have emerged to help financial advisors offer affordable estate planning at scale. Charles Schwab recently acquired a minority stake in Wealth.com to provide self-directed estate planning tools for its mass-affluent retail clients, potentially competing with RIAs that use Schwab as a custodian.
While this move could delay when clients feel they need to hire an advisor, many RIAs haven’t widely adopted estate planning tech due to low client usage and unclear ROI. Some advisors view Schwab’s actions as retail encroachment, but others see minimal threat since clients rarely update estate documents and often don’t view the service as highly differentiating.
Finsum: Ultimately, Schwab’s investment reflects a growing DIY market segment, raising strategic questions for advisors about how and when to compete—or collaborate—with such tools.
A shifting economic and demographic landscape is prompting financial advisors to evolve their strategies, particularly as women are set to control $34 trillion in U.S. assets by 2030. Yet, advisors currently manage a smaller share of female wealth, with many women engaging financial planners later in life.
Remote work has also changed the profession, with more advisors and clients opting for virtual meetings, while new talent is emerging in nontraditional markets. Advisors are increasingly launching independent RIA firms and exploring complex tax strategies like delayed RMD withholding to better serve clients.
Building strong, trusting relationships is now seen as more valuable to clients than investment advice alone, according to recent surveys.
Finsum: As the great wealth transfer accelerates, buying and selling books of business is also gaining importance, with success hinging on transition planning, client retention, and profitability.
Small-cap stocks have struggled in early 2025, hurt by trade tensions and economic sensitivity, but a broadening equity market may set the stage for recovery. Despite current volatility, small-caps could benefit from their domestic focus—nearly 80% of Russell 2000 revenues come from within the U.S.—which offers insulation from global trade disruptions.
Historically, small-caps have outperformed during periods when large-cap dominance fades, and current signs of market broadening echo those conditions. To navigate uncertainty, investors should favor high-quality small-cap stocks with strong fundamentals, as they tend to hold up better in downturns and outperform in recoveries.
Market timing, however, remains risky, missing just a few key months can erase most gains, making long-term commitment crucial.
Finsum: Patient investors who focus on quality and use active management may be best positioned to capture small-cap upside as market conditions evolve.