Newsletters

The US equity market posted negative returns for the quarter and underperformed both non-US developed and emerging markets.

Developed markets outside of the US posted negative returns for the quarter and outperformed US markets, but underperformed emerging markets.

US real estate investment trusts outperformed non-US REITs during the quarter.

Most higher net worth households realize income from many different sources like capital gains, interest, dividends, and pass-through income.

While there’s no optimal approach to mitigating taxes from your investments, there are repeatable strategies and techniques to help keep more of what you earn after tax.

Asset location, product selection, rebalancing approach, and tax-loss harvesting decisions can all work to reduce your applicable income taxes.

Stock and bond returns around the world were excellent in 2025.

Stock market returns have historically been negative 25% of the time. You should always be prepared for a negative year.

Our job is to keep the focus on what you can control and to keep your portfolio aligned with your plans as conditions change.

The US equity market posted positive returns for the quarter and underperformed both non-US developed and emerging markets

US real estate investment trusts underperformed non-US REITs during the quarter.

Within the US Treasury market, short-term interest rates generally decreased and long-term interest rates generally increased during the quarter.

The US equity market posted positive returns for the quarter and outperformed non-US developed markets but underperformed emerging markets.

US real estate investment trusts outperformed non-US REITs during the quarter.

During the quarter, interest rates decreased within the US Treasury market.

Generally, changes to individual taxes are positive but with limitations for higher income taxpayers in the highest brackets. Proactive tax planning will be crucial in many cases.

The estate tax exemption amount was increased tom $15 million per person, indexed to inflation starting in 2026. Wealth transfer and gifting strategies may need to be reviewed.

OBBBA expands provisions from the 2017 Tax Cuts and Jobs Act (TCJA) to favor small business owners. Business owners should consider ways to take advantage of this.