The world’s wealthiest families are navigating some significant changes—from economic uncertainty to generational shifts to digital transformation. And when it comes to adapting to these challenges, Europe is setting the pace. According to insights from the Quintet Ipsos Wealth Study, European wealth firms are leaning into sustainability, personalization, and preparing for the massive wealth transfers on the horizon. For U.S. wealth managers, these trends provide valuable insights to address rising client expectations and building a business that stands the test of time. Shifting Toward Sustainability European investors are leading the charge in sustainable investing, with 72% of high-net-worth individuals putting…

In what has become an annual bonanza of philanthropic largesse, billionaire MacKenzie Scott recently announced that she gave $2 billion to 199 nonprofit organizations in 2024. Scott has now donated an eye-popping $19.2 billion to more than 2,500 organizations in the five years since she signed the Giving Pledge and vowed to give away her wealth “until the safe is empty.” (Note: The Giving Pledge is a client of Fireside Strategy.) The magnitude of Scott’s generosity had already put her in the top five of Forbes’ list of the most philanthropic billionaires in the United States, trailing only Warren Buffett,…

Deciding how and when to withdraw from your retirement accounts is one of the most critical financial decisions you’ll make in retirement. The sequence you choose can significantly impact your overall tax burden, the longevity of your portfolio, and your ability to meet long-term goals. Let’s break down the best approach to strategically access your retirement funds. 1. Use Taxable Accounts First Start with your taxable brokerage and savings accounts. These accounts offer the most flexibility and often have the least tax impact on withdrawals: Why: Withdrawals from taxable accounts are typically taxed at capital gains rates, which are lower…

As we look toward 2025, the stock market presents a mixed bag of optimism and caution. While many analysts foresee continued growth, others predict potential setbacks. Could this be the moment to diversify into alternative investments like artwork and collectibles? And if so, what are the planning implications of owning artwork and collectibles? Stock Market Forecasts for 2025 While some analysts predict strong stock market performance, others suggest a more cautious outlook. Barry Bannister, Stifel’s Chief Investment Strategist, anticipates the S&P 500 closing 2025 in the mid-5,000 range, citing persistent inflation and slower GDP growth. Bannister forecasts GDP growth slowing…

The Federal Reserve meets on Wednesday, and last week’s hotter inflation data made the rate cut decision a bit more complicated. Meanwhile, economic data remains resilient, with the most recent estimate of fourth-quarter GDP growth from the Atlanta Federal Reserve at 3.3%. Consumer inflation (CPI) ticked up to 2.7% year-over-year from 2.6% in October, consistent with expectations. Producer inflation (PPI) was above consensus at 3.0%, up from 2.6% previously. In both cases, inflation has remained sticky and above the 2% level. The Case Against A December Fed Rate Cut Recent headline CPI readings have been accelerating, with the three-month annualized…

According to recent reports, the number of people living to age 100 is expected to quadruple over the next 30 years. This statistic signals a significant shift, emphasizing the need to view the future differently than in the past. The Mental Shift One of the most profound impacts of longer, healthier lives is the need to reframe perceptions of aging. Historically, being in one’s 50s or 60s was associated with slowing down. Today, people in that age group are active, healthier, and, in many ways, redefining what it means to grow older. This disconnect stems from outdated mental benchmarks. For…

Below the 200-day moving average is an alarm bell for those investors who keep an eye on price charts. It’s a good signal that the direction has changed, longer-term, from up to down. This is true not just for stocks but for bonds, oil, gold, currencies and, in general, any asset that can be charted. Other elements of price movement play a role in decision-making about buys and sells, but this one is a solid indicator of issues, whatever they may be. A drop below the 50-day moving average is a shorter-term signal but below the 200-day takes a lot…

The recent 2024 HSBC Global Entrepreneurial Wealth Report offers a detailed exploration of the complex world of entrepreneurs, particularly their struggles with family dynamics and succession planning. It paints a vivid picture of the multifaceted challenges entrepreneurs face while navigating their dual identities as business leaders and family members. Entrepreneurs’ Challenges: Family and Succession The report reveals that succession planning is one of the most significant hurdles for entrepreneurs. An overwhelming majority—66%—lack a formal exit strategy or succession plan. This is often due to the emotional difficulty of letting go of their business, combined with the day-to-day pressures of managing…

The tragic shooting of a Brian Thompson, the UnitedHealthcare CEO, on December 4, 2024, have prompted security advisors to rethink security considerations for corporate executives. For estate planning advisors, they must reconsider the intersection of security with estate and tax planning. For ultra-high-net-worth (UHNW) families, personal security has always been a priority. However, today’s environment demands a more integrated approach that aligns protection with tax efficiency and succession planning. A recent analysis by Baker McKenzie highlights an often-overlooked opportunity: properly structured corporate security programs can provide tax-advantaged protection that extends beyond the executive to family members. This creates an opening…

Many investors wonder: do I need a financial advisor, or should I do it myself? Figuring out if you should hire a financial advisor or manage your own investments is a big decision. And make no mistake: not everyone needs an ongoing relationship with a financial planner. Here are a few signs that you may need a financial advisor and how to find the right one. You May Need A Financial Advisor If You Don’t Have Time To Do It Yourself Even if you have the skills to manage your own investments and financial matters, do you have the time?…