Parkwoods Wealth Partners LLC has recently launched a new platform aiming to support registered investment advisors (RIAs) with their growth and succession planning. The platform has integrated its first partner, FMF&E Wealth Management, a Syracuse-based RIA managing approximately $358 million in assets. 

Founded by industry experts including Al Sears and Ed Edwin, who have deep connections with Dimensional Fund Advisors (DFA), and Chris Gardner, formerly of FMF&E, Parkwoods plans to scale nationally. The firm is designed to help advisors maintain their independence while benefiting from centralized services like compliance and trading. 

This model provides a pathway for long-term continuity and succession, focusing on maintaining professional autonomy. Parkwoods is actively looking to partner with RIAs that value evidence-based investing and a client-focused approach.

Finsum: Leveraging all the tools at your disposal can allow you to optimize your succession plan. 

Determining when to opt for direct indexing over ETFs depends on specific client situations, as outlined in Dr. Stephanie Lo's recent research for NDVR. She suggests that direct indexing may offer advantages only under certain conditions, particularly when considering after-tax returns over the long term. 

The key factors involve embedded capital gains in an existing ETF portfolio; transitioning to direct indexing may trigger immediate tax liabilities that could outweigh the benefits of tax-loss harvesting. However, for new investors starting from cash, direct indexing might be more advantageous, assuming the fees are competitive and the investment horizon is long enough. 

The decision also hinges on the investor's tax profile, inheritance plans, and desire for portfolio customization or specific exposures, such as building around a concentrated position. Advisors should assess each client's goals, costs, and preferences to determine if direct indexing aligns better with their investment strategy than traditional ETFs.

Finsum: As with all strategies you need determine if the tax alpha is really the advantage promised but in some cases the returns can be great. 

Modern wine bars are shifting away from strict dining etiquette, embracing a more relaxed and exploratory approach. When sampling wines by the glass, it’s courteous to limit your tastings to around three options to avoid overburdening the staff.

 If a bottle seems off, promptly communicate with the server, as minor flaws may become noticeable only after some time. Generally, ordering a bottle is more cost-effective than several glasses, providing better value for your money. 

Tipping remains consistent at around 20%, regardless of whether you’re at a counter or table service. Bringing your own bottle is usually discouraged, but if done, ensure you adhere to house rules, such as purchasing a bottle from their list and covering any corkage fees

Finsum: The wine world can be overwhelming so these tips can help you feel more comfortable in the complex environment.

By 2040, adults retirement age are expected to make up 22% of the U.S. population, creating new investment opportunities in sectors catering to an aging demographic. One promising area is medical outpatient buildings (MOBs), which are increasingly in demand as healthcare systems shift toward outpatient care to provide more flexible services. 

A notable example is KKR & Co.'s partnership with Healthcare Realty Trust, which has already committed nearly $500 million to acquire and develop MOB properties. 

While Healthcare Realty Trust has faced challenges, including tenant bankruptcies, it has made strides in improving its financial stability and expanding its portfolio. With favorable demographic trends and a focus on outpatient facilities, the company may have a strong runway for future growth despite current market volatility.

Finsum: This is innovative thinking and could prove a useful way to invest in healthcare.

The interval fund market has seen notable growth in the first half of 2024, with net assets reaching $86.4 billion, a jump of nearly 11% since the first quarter, according to Robert A. Stanger & Co. Similarly, Morningstar reports that 100 interval funds manage approximately $80.7 billion, highlighting a rising trend fueled by RIAs. 

XA Investments adds that there are currently 110 interval funds managing $101.6 billion, with expectations to see up to 255 funds and $175 billion in net assets by the end of the year. The sector has rebounded from last year’s challenges in real estate-focused funds, now propelled by increased interest in credit and private equity strategies. 

Cliffwater LLC has emerged as a leader, managing nearly a quarter of the market's assets, with its private credit interval funds raising $4.9 billion so far this year. Meanwhile, infrastructure-focused interval funds are also seeing increased investor attention, contributing to a broader market expansion.

Finsum: It’s clear this is a new trend for RIAs and that they are seeing something in interval funds that their clients need.