For many investors, retirement planning becomes most tangible at the start and end of the year. Goals are set in January, then revisited during year-end tax and financial planning discussions. But the middle of the year offers an equally valuable opportunity: a chance to evaluate progress, reassess assumptions, and make adjustments before small issues become larger challenges.
Philanthropy conversations can open the door to multigenerational planning, as clients can bring in their children to contribute to discussions of shared values and charitable goals. For advisors, that creates an opportunity to become not just a financial resource, but a trusted partner who helps clients connect wealth with purpose.
Six of the nine indexes on our world markets watch list posted year-to-date gains through June 15, 2026.
Builder confidence edged lower in June as ongoing affordability challenges continue to affect the housing market. The National Association of Home Builders (NAHB) Housing Market Index (HMI) fell 2 points from May to 35 this month, marking the 26th consecutive negative reading.
Despite everything we have seen in the economic data, which can be confusing, the US consumer has refused to crack. My friend Dr. Ed Yardeni, whom I have known since '98, has the most compelling explanation I have heard for why.
The yield on the 10-year note finished June 12, 2026 at 4.48% while the 2-year note ended at 4.09%.
For many investors, wealth management still feels segmented. Investments are handled in one meeting, taxes in another, estate planning somewhere else, and major life decisions often happen independently of all three.
May's Producer Price Index (PPI) data delivered another blow to inflation watchers, as wholesale price growth came in hotter than expected.
The May release of the Consumer Price Index for Urban Consumers (CPI-U) places the year-over-year inflation rate at 4.25%, its highest level in over three years. This keeps inflation above the post-WWII average of 3.72% for a second straight month and marks the third consecutive month that the current rate is above the 10-year moving average, which currently sits at 3.27%.
This series has been updated to include the May release of the consumer price index as the deflator and the monthly employment update. The latest hypothetical real (inflation-adjusted) annual earnings are at $54,604, down 6.1% from over 50 years ago.
Inflation affects everything from grocery bills to rent, making the Consumer Price Index (CPI) one of the most closely watched economic indicators. The Bureau of Labor Statistics (BLS) tracks this by categorizing spending into eight categories, each weighted by its relative importance.
Inflation surged to 4.2% year-over-year in May, hitting its highest level in over three years. The headline figure for the Consumer Price Index (CPI) was consistent with the forecast, driven primarily by cost increases in energy, shelter, and food.
Existing home sales reached their highest level of the year in May, rising 3.2% after a 0.7% increase in April. According to the National Association of Realtors (NAR), sales reached a seasonally adjusted annual rate of 4.17 million units, surpassing the projected 4.07 million.
The NFIB Small Business Optimism Index dropped 0.6 points to 95.3, reaching its lowest level since October 2024. The index remains below its historical average for a third straight month.
The U.S. trade deficit shrunk just over 1% in April to $55.88B after expanding nearly 3% the previous month. The latest reading barely missed the forecast of -$56.20B.
We are halfway through 2026, and the planning priorities that have defined our client work this year are in focus. Some of what we are doing is recurring: fixing compliance errors, correcting quarterly estimate miscalculations, and keeping tax positions aligned with economic reality.
May's employment report showed that 17.6% of total employed workers were part time and 82.4% of total employed workers were full-time.
Multiple jobholders accounted for 5.1% of civilian employment in May, the lowest level in ten months.
Travel on all roads and streets increased in April. The 12-month moving average was up 0.05% month-over-month and was up 1.04% year-over-year. However, if we factor in population growth, the 12-month MA of the civilian population-adjusted data (age 16-and-over) was up 0.02% month-over-month and up 0.40% year-over-year.
Vehicle sales inched up in May, coming in at a seasonally adjusted annual rate of 16.083 million units. This represents a 0.4% increase from the previous month and a 3.2% rise from one year ago.
Wealth today is more complex than ever. Investments, taxes, estate planning, insurance, and even family dynamics are deeply interconnected, and decisions in one area can have meaningful consequences in another.
Every family has a money story. It gets passed down quietly, invisibly, in the way families talk around the dinner table or on long walks together.
The 10-year Treasury yield has experienced dramatic fluctuations, ranging from a peak of 15.68% in October 1981, during the height of the Volcker era, to a historic low of 0.55% in August 2020, amidst the economic uncertainty of the pandemic. At the end of May 2026, the weekly average stood at 4.47%.
The Institute for Supply Management (ISM) manufacturing purchasing managers index (PMI) came in at 54.0 in May, marking the fastest expansion for the index since May 2022. The latest reading was higher than the 53.3 forecast and is the index's fifth straight month in expansion territory.
U.S. manufacturing hit its highest level in four years, as the S&P Global PMI climbed 0.6 points to 55.1 in May. For a second straight month, the expansion was largely driven by defensive stockpiling as companies continue bracing for supply disruptions and price hikes linked to conflict in the Middle East.
Goldman Sachs announced a partnership with Anthropic in early May, though you probably shouldn’t view it as just a cool innovation story. It is infrastructure in motion. When institutions like Goldman move, pay attention to what problem they believe they are solving.
Valid until the market close on June 30, 2026
This article provides an update on the monthly moving averages we track for the S&P 500 and the Ivy Portfolio after the close of the last business day of the month.
The Chicago Purchasing Managers’ Index surged 13.5 points in May to a four-year high of 62.7, signaling an expansion in regional business activity. This marks the largest monthly increase since 2020 and was significantly higher than the projected 50.6.
The second estimate for Q1 GDP came in at 1.62%, an acceleration from 0.48% for the Q4 final estimate. With a per-capita adjustment, the headline number is lower at 1.44%, a pickup from 0.18% for the Q4 headline number.
Real gross domestic product (GDP) is comprised of four major subcomponents. In the Q1 2026 GDP second estimate, three of the four components made positive contributions.
Inflation remains a hot topic, directly impacting everything from your grocery bill to interest rates. As of the latest data, two key inflation gauges — the Personal Consumption Expenditures (PCE) Price Index and the Consumer Price Index (CPI) — show that prices are still above the Federal Reserve's 2% target, with the core PCE at 3.3% and core CPI at 2.8%.
Personal income (excluding transfer receipts) was down 0.05% in April and was up 2.68% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) was down 0.44% month-over-month and down 1.04% year-over-year.
New home sales fell more than expected in April while the median price experienced its largest jump in seven years.
With the release of April's report on personal incomes and outlays, we can now take a closer look at "real" disposable personal income per capita. To two decimal places, disposable income per capita was up down 0.10% month-over-month. But when adjusted for inflation, real disposable income per capita was down 0.50%.
New orders for manufactured durable goods jumped 7.9% in April to $345.96B, almost twice as much as the projected 4.0% monthly growth.
The Federal Reserve’s preferred inflation gauge, the core PCE price index, climbed 3.3% year-over-year in April. This marks the highest level since November 2023 and marks a steady pickup from March's 3.2% reading. On a monthly basis, core prices rose 0.2%.
The Dallas Fed released its Texas Manufacturing Outlook Survey (TMOS) for May. The general business activity index rose 2.7 points to 0.4, indicating slower growth of manufacturing activity and stable business conditions perceptions.
The Conference Board's Consumer Confidence Index® fell for the first time in four months in May, dropping 0.7 points to 93.1. Despite the slight dip, the index came in above the forecast of 91.9.
Home prices fell for the first time in eight months in March according to the S&P Cotality Case-Shiller index, as the housing slowdown intensifies. On a seasonally adjusted basis, the national index dropped 0.2% month-over-month and was up 0.7% year-over-year, the slowest pace since June 2023.
The Federal Housing Finance Agency (FHFA) House Price Index (HPI) reached a new record high in March, rising 0.1% to 441.6.
College costs continue to rise, and for many families, education is one of the most meaningful investments they will make. Preparing for those expenses often requires planning years, sometimes decades, in advance.
Watching your children step into financial independence is one of the most rewarding and complex milestones families experience. As young adults begin earning income, managing expenses, and making major life decisions, the habits and financial knowledge they develop can shape their long-term success.
Home values continued their upward trend in April, according to the Zillow Home Value Index. However, after adjusting for inflation, real home values dropped sharply, remaining at their lowest level in over five years.
The Kansas City Fed Manufacturing Survey revealed regional activity continued to increase in May. The composite index came in at 8 this month, down slightly from 10 in April but still indicating continued expansion.
The latest Philadelphia Fed manufacturing index showed activity weakened in May, with the index sinking 27.1 points to -0.4. The latest reading marked the lowest level for the index this year and was worse than the forecast of 17.6.
Housing starts fell 2.8% in April to a seasonally adjusted annual rate of 1.465 million. The latest reading exceeded the projected 1.420 million.
AI is unlikely to replace wealth managers — at least not in the foreseeable future. But it now has the power to expose the gaps between genuine, client-first investment advice and other approaches in a way the industry has not yet seen.
Gas prices were relatively flat this week, remaining at their highest level in nearly four years. As of May 18th, weekly prices were down 1 cent for regular and were unchanged for premium.
The National Association of Realtors® (NAR) pending home sales index rose 1.4% in April to 74.8, markings its third consecutive increase and highest level since November.
For many ultra-high-net-worth families, philanthropy is not simply about giving; it is about creating meaningful, lasting impact. A thoughtfully structured family foundation can become a powerful vehicle for aligning wealth with values, supporting communities, and engaging future generations in purposeful stewardship.
Manufacturing activity grew strongly in New York State, according to the Empire State Manufacturing May survey. The diffusion index for General Business Conditions rose 8.6 points to 19.6, its highest level in over four years.
Stock markets have been hitting all-time highs and credit spreads remain low, yet higher interest rates and mounting floating-rate debt are straining lower-rated borrowers. This tension is surfacing first in leveraged loans as “quiet defaults” become more common — opening up a dynamic set of opportunities for investors specialized in stressed and distressed assets.
The most attractive conversion opportunities appear when income temporarily drops. Early retirement before Social Security and RMDs begin is the classic window. Sabbaticals, business transition years, the gap after a company sale, years with unusually low K-1 or bonus income. These are all potential openings.
Nominal retail sales were up 0.49% month-over-month and up 4.87% year-over-year in April. However, after adjusting for inflation, real retail sales were down 0.15% month-over-month and up 1.05% year-over-year.
According to the Census Bureau’s Advance Retail Sales Report, consumer spending climbed for the third consecutive month in April. While headline sales rose 0.5% (as expected), this marked a deceleration from March’s 1.6% surge, with much of the gain driven by higher prices at the pump.
The College for Financial Planning is a degree-granting institution offering various financial certification programs. It provides graduate degree, non-degree and continuing professional education programs for students. Founded in 1972, today it is part of Kaplan Financial and has trained over 165,000 professionals.
Total U.S. household debt climbed to a record $18.79 trillion in Q1 2026, a modest 0.1% ($18 billion) increase from the previous quarter. The overall rise was driven by increases across a handful of categories, specifically mortgage and auto loan balances.
Once clients’ taxes are filed, most assume the story is over for another year. For many, filing season ends with relief, frustration, or confusion — a refund that feels arbitrary, a payment that stings, or little clarity about what to do differently next time. That’s where you, as the advisor, can step in.
Scalable personalization means saving time while not sacrificing the “secret sauce” that is unique to your practice. Time savings can come from scaling portfolio construction via model portfolios or direct indexing, adding tools or talent to complement strengths, and using technology like AI.
For business owners, your company is more than an asset; it’s your livelihood, your legacy, and often your largest source of wealth. Yet too many owners delay succession planning until it’s urgent, limiting options and potentially eroding value. A well-structured exit isn’t a last-minute decision; it’s a multi-year strategy.
Artificial intelligence unknowns are creating stress in the market, and we don’t see that ending any time soon. For long-term investors, these stressors can create opportunities.
Opening a 529 plan is a tax-advantaged way to set aside money for college. The money you contribute can grow tax-deferred and qualified withdrawals are tax-free.
For many investors, wealth is about more than financial outcomes. It represents values, aspirations, family priorities, and a desire for a meaningful future. Aligning your investments with personal purpose means that your financial strategy reflects not only what you want to achieve financially but also the priorities that guide your life and legacy.
It’s no secret that college is expensive. And alongside mounting costs come almost as many strategies for mitigating them. When you need money to pay for college expenses, tapping your Roth IRA is one option you might consider.
Every year, hundreds of thousands of life insurance policies lapse or are surrendered for cash. The policyholders walk away with whatever the carrier offers. Their advisors sign off. Their attorneys see nothing. And nobody asks the obvious question. Could this policy have sold for more?
The Census Bureau released its latest quarterly report for Q1 2026 showing the latest homeownership rate is at 65.3%.
Fifth district manufacturing activity increased in April according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index rose three points points to 3, marking the highest level for the index in 20 months. This month's reading was above the forecast of 2.
For ultra-high-net-worth individuals and families, wealth brings opportunity, but also extraordinary complexity. Multi-generational estate planning, concentrated equity positions, private investments, tax-efficient strategies, philanthropic structures, and family governance decisions all intersect in ways that demand thoughtful oversight.
The problem is not digitization itself. Many of these tools deliver real value, from better intake and modeling to clearer client visualization, and for straightforward situations, a DIY approach may be entirely appropriate. The risk arises when convenience begins to substitute for accountable legal judgment in matters that are anything but simple.
Every prospect is different. They have different interests, different decision timelines, and different levels of engagement. Treating them all the same because your CRM can't segment effectively is leaving money on the table.
The long-term care confidence gap is the difference between understanding the importance of a risk and consistently addressing it with clients. Advisors know, but they do not always say. The gap isn’t about intelligence or professionalism; it’s about the difference between technical knowledge and conversational leadership.
Early in my financial planning career, if a client told me they had a terminal diagnosis, every alarm in my head would go off. Before the meeting was over, I would have a to-do list that was three pages long.
The leading cause of recurring tax-time friction is simple: HNW households rely on a roster of professionals who communicate inconsistently, if at all.
While every market downturn is unique, history offers a crucial lens for understanding recovery. This chart series provides a comprehensive overlay of the Four Bad Bears in U.S. history since the 1929 peak, comparing their recovery paths through the S&P 500's close on March 31, 2026.
If you’re not sure what direct indexing means, you’re not alone. Even after the recent growth, direct indexing remains relatively unknown. As our risk review team never fails to remind us, you can’t invest directly in an index. So what exactly is direct indexing?
Your financial requirements are multifaceted, necessitating strategies tailored to your specific needs. Tailored lending can be a valuable addition to a high-net-worth individual’s financial plan, helping you optimize cash flow, maximize tax efficiency and realize important estate planning goals.
The U.S. middle market has hit $25 trillion. Discover why Cerulli says the advisor shortage and shifting demographics make early engagement a necessity.
Industry experts at Exchange 2026 explored why only a quarter of advisors have formal succession planning in place and what it takes to execute well.
A signed will does not guarantee a smooth transfer of wealth. Families can do everything “right” on paper and still hit a wall the moment someone dies because the assets they need to gather and transfer are behind logins, devices, and two-factor authentication.
When we think of the U.S. government's finances, we often focus on the massive debt. But what about the assets? What does Uncle Sam actually own, and which asset is the largest?
How much wealthier are Americans since the Great Recession? While a look at the headlines shows a staggering 211% increase in household net worth since 2009, adjusting for inflation tells a much different story.
Engaging with client family members may seem tricky, but it can start with simple questions to the client first. In fact, asking your client about the personalities and desires of their loved ones may be a way of deepening your understanding of your client’s financial needs.
Understanding how traditional RIA growth models have evolved is essential for advisors making deliberate decisions about the structure, scale, and long-term direction of their firms.
For families with loved ones who have special needs, tomorrow often arrives sooner than expected. Many families instinctively plan for today: therapies, education, medical care, and navigating government benefits.
January is a time to revisit financial plans, make changes, and ensure objectives are being met. This review isn’t about exposing bad financial plans, but instead finding what is outdated and revising.
A guide to helping HNW investors align tax efficiency with philanthropy, retirement strategy, and multi-generational wealth transfer planning.
From real estate to multi-generational planning, learn the key strategies high-net-worth individuals use to maximize wealth and legacy.
Adding tax management services to your practice calls for more than an assessment of potential revenues and client interest. Tax management introduces new compliance demands and sometimes complex business management needs that might not be right for every firm.
For years, affluent families planned under the assumption that the federal estate and gift tax exemption would “sunset,” forcing a return to lower thresholds and triggering a race against time. That urgency has shifted.
An unintended consequence of the brutal bear market in Bitcoin has been to focus the blockchain industry’s attention where it is most needed: real-world assets.
Estate Planning
A Midyear Retirement Readiness Check
For many investors, retirement planning becomes most tangible at the start and end of the year. Goals are set in January, then revisited during year-end tax and financial planning discussions. But the middle of the year offers an equally valuable opportunity: a chance to evaluate progress, reassess assumptions, and make adjustments before small issues become larger challenges.
When Clients Ask About Their Tax Bill, the Answer Might Be Philanthropy
Philanthropy conversations can open the door to multigenerational planning, as clients can bring in their children to contribute to discussions of shared values and charitable goals. For advisors, that creates an opportunity to become not just a financial resource, but a trusted partner who helps clients connect wealth with purpose.
World Markets Watchlist: June 15, 2026
Six of the nine indexes on our world markets watch list posted year-to-date gains through June 15, 2026.
NAHB Housing Market Index: Affordability Challenges Continue
Builder confidence edged lower in June as ongoing affordability challenges continue to affect the housing market. The National Association of Home Builders (NAHB) Housing Market Index (HMI) fell 2 points from May to 35 this month, marking the 26th consecutive negative reading.
The G-Shaped Economy
Despite everything we have seen in the economic data, which can be confusing, the US consumer has refused to crack. My friend Dr. Ed Yardeni, whom I have known since '98, has the most compelling explanation I have heard for why.
Treasury Yields Snapshot: June 12, 2026
The yield on the 10-year note finished June 12, 2026 at 4.48% while the 2-year note ended at 4.09%.
The Hidden Cost of Financial Fragmentation: Why Investment Decisions Cannot Happen in Isolation
For many investors, wealth management still feels segmented. Investments are handled in one meeting, taxes in another, estate planning somewhere else, and major life decisions often happen independently of all three.
Producer Price Index: Wholesale Inflation Hits Highest Level Since November 2022
May's Producer Price Index (PPI) data delivered another blow to inflation watchers, as wholesale price growth came in hotter than expected.
Inflation Since 1872: A Long-Term Look at the CPI
The May release of the Consumer Price Index for Urban Consumers (CPI-U) places the year-over-year inflation rate at 4.25%, its highest level in over three years. This keeps inflation above the post-WWII average of 3.72% for a second straight month and marks the third consecutive month that the current rate is above the 10-year moving average, which currently sits at 3.27%.
Real Middle Class Wages: May 2026
This series has been updated to include the May release of the consumer price index as the deflator and the monthly employment update. The latest hypothetical real (inflation-adjusted) annual earnings are at $54,604, down 6.1% from over 50 years ago.
Inside the Consumer Price Index: May 2026
Inflation affects everything from grocery bills to rent, making the Consumer Price Index (CPI) one of the most closely watched economic indicators. The Bureau of Labor Statistics (BLS) tracks this by categorizing spending into eight categories, each weighted by its relative importance.
Consumer Price Index: Inflation at 4.2% in May
Inflation surged to 4.2% year-over-year in May, hitting its highest level in over three years. The headline figure for the Consumer Price Index (CPI) was consistent with the forecast, driven primarily by cost increases in energy, shelter, and food.
Existing Home Sales Reach Highest Level of 2026
Existing home sales reached their highest level of the year in May, rising 3.2% after a 0.7% increase in April. According to the National Association of Realtors (NAR), sales reached a seasonally adjusted annual rate of 4.17 million units, surpassing the projected 4.07 million.
NFIB Small Business Survey: Lowest Level Since October 2024
The NFIB Small Business Optimism Index dropped 0.6 points to 95.3, reaching its lowest level since October 2024. The index remains below its historical average for a third straight month.
Trade Deficit Shrinks 1% in April
The U.S. trade deficit shrunk just over 1% in April to $55.88B after expanding nearly 3% the previous month. The latest reading barely missed the forecast of -$56.20B.
Mid-Year 2026: 9 Tax Planning Strategies We Are Working On With Clients Right Now
We are halfway through 2026, and the planning priorities that have defined our client work this year are in focus. Some of what we are doing is recurring: fixing compliance errors, correcting quarterly estimate miscalculations, and keeping tax positions aligned with economic reality.
A Closer Look at Full-time and Part-time Employment: May 2026
May's employment report showed that 17.6% of total employed workers were part time and 82.4% of total employed workers were full-time.
Multiple Jobholders Account for 5.1% of Workers in May 2026
Multiple jobholders accounted for 5.1% of civilian employment in May, the lowest level in ten months.
America's Driving Habits: April 2026
Travel on all roads and streets increased in April. The 12-month moving average was up 0.05% month-over-month and was up 1.04% year-over-year. However, if we factor in population growth, the 12-month MA of the civilian population-adjusted data (age 16-and-over) was up 0.02% month-over-month and up 0.40% year-over-year.
Vehicle Sales Inch Up 0.4% in May
Vehicle sales inched up in May, coming in at a seasonally adjusted annual rate of 16.083 million units. This represents a 0.4% increase from the previous month and a 3.2% rise from one year ago.
The Value of an Integrated Wealth Strategy
Wealth today is more complex than ever. Investments, taxes, estate planning, insurance, and even family dynamics are deeply interconnected, and decisions in one area can have meaningful consequences in another.
How to Pass Down Your Values Along with Your Wealth
Every family has a money story. It gets passed down quietly, invisibly, in the way families talk around the dinner table or on long walks together.
10-Year Treasury Yield Long-Term Perspective: May 2026
The 10-year Treasury yield has experienced dramatic fluctuations, ranging from a peak of 15.68% in October 1981, during the height of the Volcker era, to a historic low of 0.55% in August 2020, amidst the economic uncertainty of the pandemic. At the end of May 2026, the weekly average stood at 4.47%.
ISM Manufacturing PMI: Highest Level Since May 2022
The Institute for Supply Management (ISM) manufacturing purchasing managers index (PMI) came in at 54.0 in May, marking the fastest expansion for the index since May 2022. The latest reading was higher than the 53.3 forecast and is the index's fifth straight month in expansion territory.
S&P Global US Manufacturing PMI™: Highest Level Since May 2022
U.S. manufacturing hit its highest level in four years, as the S&P Global PMI climbed 0.6 points to 55.1 in May. For a second straight month, the expansion was largely driven by defensive stockpiling as companies continue bracing for supply disruptions and price hikes linked to conflict in the Middle East.
Goldman Sachs Didn't Partner With Anthropic to Write Better Emails
Goldman Sachs announced a partnership with Anthropic in early May, though you probably shouldn’t view it as just a cool innovation story. It is infrastructure in motion. When institutions like Goldman move, pay attention to what problem they believe they are solving.
Moving Averages of the Ivy Portfolio and S&P 500: May 2026
Valid until the market close on June 30, 2026
This article provides an update on the monthly moving averages we track for the S&P 500 and the Ivy Portfolio after the close of the last business day of the month.
Chicago PMI Surges to 4-Year High
The Chicago Purchasing Managers’ Index surged 13.5 points in May to a four-year high of 62.7, signaling an expansion in regional business activity. This marks the largest monthly increase since 2020 and was significantly higher than the projected 50.6.
GDP Per Capita: Q1 2026 Second Estimate
The second estimate for Q1 GDP came in at 1.62%, an acceleration from 0.48% for the Q4 final estimate. With a per-capita adjustment, the headline number is lower at 1.44%, a pickup from 0.18% for the Q4 headline number.
An Inside Look at the Q1 2026 GDP Second Estimate
Real gross domestic product (GDP) is comprised of four major subcomponents. In the Q1 2026 GDP second estimate, three of the four components made positive contributions.
Two Measures of Inflation: April 2026
Inflation remains a hot topic, directly impacting everything from your grocery bill to interest rates. As of the latest data, two key inflation gauges — the Personal Consumption Expenditures (PCE) Price Index and the Consumer Price Index (CPI) — show that prices are still above the Federal Reserve's 2% target, with the core PCE at 3.3% and core CPI at 2.8%.
The Big Four Recession Indicators: Real Personal Income
Personal income (excluding transfer receipts) was down 0.05% in April and was up 2.68% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) was down 0.44% month-over-month and down 1.04% year-over-year.
New Home Sales Fall 6% in April as Median Price Surges
New home sales fell more than expected in April while the median price experienced its largest jump in seven years.
Real Disposable Income Per Capita Down 0.5% in April
With the release of April's report on personal incomes and outlays, we can now take a closer look at "real" disposable personal income per capita. To two decimal places, disposable income per capita was up down 0.10% month-over-month. But when adjusted for inflation, real disposable income per capita was down 0.50%.
Durable Goods Orders Jump 7.9% in April, More Than Expected
New orders for manufactured durable goods jumped 7.9% in April to $345.96B, almost twice as much as the projected 4.0% monthly growth.
Core PCE Inflation at 3.3% in April, Highest Level Since 2023
The Federal Reserve’s preferred inflation gauge, the core PCE price index, climbed 3.3% year-over-year in April. This marks the highest level since November 2023 and marks a steady pickup from March's 3.2% reading. On a monthly basis, core prices rose 0.2%.
Dallas Fed Manufacturing: Slower Growth in May
The Dallas Fed released its Texas Manufacturing Outlook Survey (TMOS) for May. The general business activity index rose 2.7 points to 0.4, indicating slower growth of manufacturing activity and stable business conditions perceptions.
Consumer Confidence Dipped in May as Inflation Intensifies
The Conference Board's Consumer Confidence Index® fell for the first time in four months in May, dropping 0.7 points to 93.1. Despite the slight dip, the index came in above the forecast of 91.9.
S&P Cotality Case-Shiller Index: Housing Slowdown Intensifies
Home prices fell for the first time in eight months in March according to the S&P Cotality Case-Shiller index, as the housing slowdown intensifies. On a seasonally adjusted basis, the national index dropped 0.2% month-over-month and was up 0.7% year-over-year, the slowest pace since June 2023.
FHFA House Price Index Reaches New Record High in March
The Federal Housing Finance Agency (FHFA) House Price Index (HPI) reached a new record high in March, rising 0.1% to 441.6.
How 529 Plans Can Help Fund Your Family’s Future
College costs continue to rise, and for many families, education is one of the most meaningful investments they will make. Preparing for those expenses often requires planning years, sometimes decades, in advance.
Graduation Season and Financial Independence: Helping Young Adults Build a Strong Financial Start
Watching your children step into financial independence is one of the most rewarding and complex milestones families experience. As young adults begin earning income, managing expenses, and making major life decisions, the habits and financial knowledge they develop can shape their long-term success.
Zillow Home Value Index: "Real" Home Values Drop Sharply
Home values continued their upward trend in April, according to the Zillow Home Value Index. However, after adjusting for inflation, real home values dropped sharply, remaining at their lowest level in over five years.
Kansas City Fed Manufacturing Index: Activity Continued to Increase in May
The Kansas City Fed Manufacturing Survey revealed regional activity continued to increase in May. The composite index came in at 8 this month, down slightly from 10 in April but still indicating continued expansion.
Philadelphia Fed Manufacturing Index: Lowest Level of 2026
The latest Philadelphia Fed manufacturing index showed activity weakened in May, with the index sinking 27.1 points to -0.4. The latest reading marked the lowest level for the index this year and was worse than the forecast of 17.6.
Housing Starts Fall 2.8% in April, Higher Than Expected
Housing starts fell 2.8% in April to a seasonally adjusted annual rate of 1.465 million. The latest reading exceeded the projected 1.420 million.
AI Might Finally Level the Playing Field for Advisors, Brokers
AI is unlikely to replace wealth managers — at least not in the foreseeable future. But it now has the power to expose the gaps between genuine, client-first investment advice and other approaches in a way the industry has not yet seen.
Gas Prices Cross the $4 Mark in Nearly Every State
Gas prices were relatively flat this week, remaining at their highest level in nearly four years. As of May 18th, weekly prices were down 1 cent for regular and were unchanged for premium.
Pending Home Sales Up for Third Straight Month
The National Association of Realtors® (NAR) pending home sales index rose 1.4% in April to 74.8, markings its third consecutive increase and highest level since November.
Structuring a Family Foundation That Endures
For many ultra-high-net-worth families, philanthropy is not simply about giving; it is about creating meaningful, lasting impact. A thoughtfully structured family foundation can become a powerful vehicle for aligning wealth with values, supporting communities, and engaging future generations in purposeful stewardship.
Empire State Manufacturing Survey: Highest Level in Four Years
Manufacturing activity grew strongly in New York State, according to the Empire State Manufacturing May survey. The diffusion index for General Business Conditions rose 8.6 points to 19.6, its highest level in over four years.
‘Quiet Defaults’ Are Driving a More Compelling Backdrop for Opportunistic Credit
Stock markets have been hitting all-time highs and credit spreads remain low, yet higher interest rates and mounting floating-rate debt are straining lower-rated borrowers. This tension is surfacing first in leveraged loans as “quiet defaults” become more common — opening up a dynamic set of opportunities for investors specialized in stressed and distressed assets.
Roth Conversion Strategy for High Earners: When It Makes Sense and When It Does Not
The most attractive conversion opportunities appear when income temporarily drops. Early retirement before Social Security and RMDs begin is the classic window. Sabbaticals, business transition years, the gap after a company sale, years with unusually low K-1 or bonus income. These are all potential openings.
The Big Four Recession Indicators: Real Retail Sales
Nominal retail sales were up 0.49% month-over-month and up 4.87% year-over-year in April. However, after adjusting for inflation, real retail sales were down 0.15% month-over-month and up 1.05% year-over-year.
Retail Sales: Consumer Spending Rises for Third Straight Month
According to the Census Bureau’s Advance Retail Sales Report, consumer spending climbed for the third consecutive month in April. While headline sales rose 0.5% (as expected), this marked a deceleration from March’s 1.6% surge, with much of the gain driven by higher prices at the pump.
What Is The College for Financial Planning?
The College for Financial Planning is a degree-granting institution offering various financial certification programs. It provides graduate degree, non-degree and continuing professional education programs for students. Founded in 1972, today it is part of Kaplan Financial and has trained over 165,000 professionals.
Household Debt Rises to $18.79 Trillion in Q1 2026
Total U.S. household debt climbed to a record $18.79 trillion in Q1 2026, a modest 0.1% ($18 billion) increase from the previous quarter. The overall rise was driven by increases across a handful of categories, specifically mortgage and auto loan balances.
Tax Return Filed? Help Clients Start Planning for Next Year Now
Once clients’ taxes are filed, most assume the story is over for another year. For many, filing season ends with relief, frustration, or confusion — a refund that feels arbitrary, a payment that stings, or little clarity about what to do differently next time. That’s where you, as the advisor, can step in.
Setting Up Your Practice for Scaled Growth
Scalable personalization means saving time while not sacrificing the “secret sauce” that is unique to your practice. Time savings can come from scaling portfolio construction via model portfolios or direct indexing, adding tools or talent to complement strengths, and using technology like AI.
The Business Owner’s Succession Timeline: Planning Your Exit, Step by Step
For business owners, your company is more than an asset; it’s your livelihood, your legacy, and often your largest source of wealth. Yet too many owners delay succession planning until it’s urgent, limiting options and potentially eroding value. A well-structured exit isn’t a last-minute decision; it’s a multi-year strategy.
AI: The Good, the Bad and the Ugly
Artificial intelligence unknowns are creating stress in the market, and we don’t see that ending any time soon. For long-term investors, these stressors can create opportunities.
529 Plan Tax Deductions for Every State
Opening a 529 plan is a tax-advantaged way to set aside money for college. The money you contribute can grow tax-deferred and qualified withdrawals are tax-free.
Aligning Investments with Your Personal Purpose
For many investors, wealth is about more than financial outcomes. It represents values, aspirations, family priorities, and a desire for a meaningful future. Aligning your investments with personal purpose means that your financial strategy reflects not only what you want to achieve financially but also the priorities that guide your life and legacy.
Pros and Cons of Using a Roth IRA to Pay for College
It’s no secret that college is expensive. And alongside mounting costs come almost as many strategies for mitigating them. When you need money to pay for college expenses, tapping your Roth IRA is one option you might consider.
The Fiduciary Question Nobody Is Asking About Life Insurance
Every year, hundreds of thousands of life insurance policies lapse or are surrendered for cash. The policyholders walk away with whatever the carrier offers. Their advisors sign off. Their attorneys see nothing. And nobody asks the obvious question. Could this policy have sold for more?
Home Ownership Rate at 65.3% in Q1 2026
The Census Bureau released its latest quarterly report for Q1 2026 showing the latest homeownership rate is at 65.3%.
Richmond Manufacturing Index Reaches 20-Month High
Fifth district manufacturing activity increased in April according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index rose three points points to 3, marking the highest level for the index in 20 months. This month's reading was above the forecast of 2.
Financial Literacy at the Highest Level: Why Education Still Matters for the Ultra-Wealthy
For ultra-high-net-worth individuals and families, wealth brings opportunity, but also extraordinary complexity. Multi-generational estate planning, concentrated equity positions, private investments, tax-efficient strategies, philanthropic structures, and family governance decisions all intersect in ways that demand thoughtful oversight.
The Accountability Gap in Estate Planning
The problem is not digitization itself. Many of these tools deliver real value, from better intake and modeling to clearer client visualization, and for straightforward situations, a DIY approach may be entirely appropriate. The risk arises when convenience begins to substitute for accountable legal judgment in matters that are anything but simple.
Why You Can't Segment Your Prospects (And Why That Means You're Treating Everyone the Same)
Every prospect is different. They have different interests, different decision timelines, and different levels of engagement. Treating them all the same because your CRM can't segment effectively is leaving money on the table.
The Advisor’s LTC Confidence Gap: Knowing vs. Saying
The long-term care confidence gap is the difference between understanding the importance of a risk and consistently addressing it with clients. Advisors know, but they do not always say. The gap isn’t about intelligence or professionalism; it’s about the difference between technical knowledge and conversational leadership.
Facing the Financial and Emotional Pain of a Terminal Illness
Early in my financial planning career, if a client told me they had a terminal diagnosis, every alarm in my head would go off. Before the meeting was over, I would have a to-do list that was three pages long.
What Tax-Time Mistakes Reveal About Hidden Planning Gaps for High-Net-Worth Investors
The leading cause of recurring tax-time friction is simple: HNW households rely on a roster of professionals who communicate inconsistently, if at all.
The Four Bad Bears: A Century of Market Recovery
While every market downturn is unique, history offers a crucial lens for understanding recovery. This chart series provides a comprehensive overlay of the Four Bad Bears in U.S. history since the 1929 peak, comparing their recovery paths through the S&P 500's close on March 31, 2026.
What is Direct Indexing? Exploring Tax‑Efficient Customization
If you’re not sure what direct indexing means, you’re not alone. Even after the recent growth, direct indexing remains relatively unknown. As our risk review team never fails to remind us, you can’t invest directly in an index. So what exactly is direct indexing?
A Strategic Tool for Sophisticated Individuals
Your financial requirements are multifaceted, necessitating strategies tailored to your specific needs. Tailored lending can be a valuable addition to a high-net-worth individual’s financial plan, helping you optimize cash flow, maximize tax efficiency and realize important estate planning goals.
Cerulli Cites Growth Opportunity in Mass-Affluent Middle Market
The U.S. middle market has hit $25 trillion. Discover why Cerulli says the advisor shortage and shifting demographics make early engagement a necessity.
Why Few Advisors Plan for Succession
Industry experts at Exchange 2026 explored why only a quarter of advisors have formal succession planning in place and what it takes to execute well.
In Today’s Digital World, a Valid Will Simply Isn’t Enough
A signed will does not guarantee a smooth transfer of wealth. Families can do everything “right” on paper and still hit a wall the moment someone dies because the assets they need to gather and transfer are behind logins, devices, and two-factor authentication.
The Fed's Financial Accounts: What Are Uncle Sam's Largest Assets?
When we think of the U.S. government's finances, we often focus on the massive debt. But what about the assets? What does Uncle Sam actually own, and which asset is the largest?
Household Net Worth Q4 2025: The "Real" Story
How much wealthier are Americans since the Great Recession? While a look at the headlines shows a staggering 211% increase in household net worth since 2009, adjusting for inflation tells a much different story.
Build Your Practice by Building the Whole Family Relationship
Engaging with client family members may seem tricky, but it can start with simple questions to the client first. In fact, asking your client about the personalities and desires of their loved ones may be a way of deepening your understanding of your client’s financial needs.
The Evolution of RIA Growth Models Over the Past Decade
Understanding how traditional RIA growth models have evolved is essential for advisors making deliberate decisions about the structure, scale, and long-term direction of their firms.
When Siblings Become Successors: Preparing Future Caregivers and Trustees
For families with loved ones who have special needs, tomorrow often arrives sooner than expected. Many families instinctively plan for today: therapies, education, medical care, and navigating government benefits.
High Net Worth Financial Planning: 10 Strategic Priorities for 2026
January is a time to revisit financial plans, make changes, and ensure objectives are being met. This review isn’t about exposing bad financial plans, but instead finding what is outdated and revising.
Tactical Philanthropy & Legacy Planning for HNW Investors
A guide to helping HNW investors align tax efficiency with philanthropy, retirement strategy, and multi-generational wealth transfer planning.
Tax Strategies Every High-Net-Worth Advisor Should Know
From real estate to multi-generational planning, learn the key strategies high-net-worth individuals use to maximize wealth and legacy.
Should Your Practice Offer Tax Management Services?
Adding tax management services to your practice calls for more than an assessment of potential revenues and client interest. Tax management introduces new compliance demands and sometimes complex business management needs that might not be right for every firm.
The Next Generation of Wealth Transfer: 2026 Readiness
For years, affluent families planned under the assumption that the federal estate and gift tax exemption would “sunset,” forcing a return to lower thresholds and triggering a race against time. That urgency has shifted.
Ditch the Bitcoin Illusion and Tokenize Real Assets
An unintended consequence of the brutal bear market in Bitcoin has been to focus the blockchain industry’s attention where it is most needed: real-world assets.