Cresset, a $60 billion RIA, has secured a $150 million minority investment from Constellation Wealth Capital, an alternative asset manager specializing in long-term investments in wealth management firms and multi-family offices. Constellation now holds less than a 10% equity stake, with employees and clients retaining majority ownership, ensuring the firm's alignment with client priorities. 

The funds will support Cresset’s efforts to enhance its platform, technology, and talent recruitment initiatives. Karl Heckenberg, president of Constellation, praised Cresset’s commitment to client success and shared their "100-year vision" for sustained growth and innovation.

 Cresset’s co-founder, Avy Stein, described the investment as a strong endorsement of the firm’s business model and growth strategy. He also welcomed the Constellation partnership as a way to further transform how clients experience wealth management.

Finsum: This investment into technology is a reflection of the growing importance of innovation in advisors decision making processes. 

Dividend ETFs are an excellent way to generate passive income, as they typically hold portfolios of income-generating investments, allowing investors to avoid active portfolio management. 

• The Schwab U.S. Dividend Equity ETF (SCHD) offers exposure to 100 high-yielding, dividend-paying stocks with strong financials, boasting a 3.6% yield that surpasses the S&P 500’s average. 
• The JPMorgan Equity Premium Income ETF (JEPI) combines a defensive equity portfolio with an options overlay strategy, delivering a remarkable 8% yield driven by monthly income distributions and market volatility. 
• Meanwhile, the Vanguard Real Estate ETF (VNQ) provides effortless access to the commercial real estate market by investing in over 150 REITs, such as Prologis, which offers a 3.5% yield and impressive dividend growth.

These ETFs offer a diverse range of income opportunities, from dividend-focused equity to real estate and innovative option strategies. Their reliable and growing yields make them ideal choices for anyone seeking consistent passive income. 

Finsum: Dividend ETFs By investing in dividend ETFs, you can enjoy both steady cash flow and long-term financial growth.

In a striking twist, the Biden administration’s final week coincided with the best stock market performance since Trump’s re-election, fueled by a bond market rally following unexpectedly mild inflation data. The S&P 500 surged nearly 3%, just shy of the 6000 mark, while the Dow posted its strongest week in months, aided by a sharp decline in 10-year Treasury yields. 

Despite this upbeat sendoff, Biden’s term closes with a mixed economic legacy: robust job creation and stock market gains were offset by a historic drop in real disposable income and surging national debt. The inflation respite behind the rally may not indicate lasting relief, as core inflation remains stubbornly stalled near 3.3%. 

Rising crude oil and gasoline prices threaten to reignite inflationary pressures, potentially complicating the Federal Reserve’s path toward rate cuts. As the market shifts focus to Trump’s fiscal policy, investors brace for more stimulative measures that could push long-term Treasury yields past 5%, setting the stage for new challenges in both equity and bond markets.

Finsum: The most recent Fed minutes suggest a strong concern over taming inflation in the new administration so keep those inflation strategies handy. 

The box office saw indie films continue to make waves, led by “The Brutalist,” which expanded to 338 screens and earned $1.98 million over three days and $2.4 million for the holiday frame. The three-hour-plus epic has impressed with strong Imax sales and a total gross of $5.86 million, building momentum as Oscar nominations near. 

Meanwhile, Robert Eggers’ “Nosferatu” added $4.3 million to its $89.4 million domestic total, and Timothée Chalamet’s “A Complete Unknown” collected $3.8 million, reaching a $57.6 million cume.

A24’s “Babygirl,” starring Nicole Kidman, continues its steady climb with $2 million this weekend, bringing its total to $25.4 million. Other contenders like “The Substance” and Sean Baker’s “Anora” saw notable expansions. As the race to the Oscars heats up, indies are proving they can compete with the heavyweights, offering audiences a rich variety of standout cinematic experiences.

Finsum: While long, The Brutalist is a call back to an American cinema tradition in the vein of The Godfather or There Will be Blood.

World Liberty Financial (WLF), a crypto project linked to Donald Trump, announced it raised $1 billion in token sales, while the newly launched $TRUMP memecoin soared to a $10 billion market valuation as Trump assumed his second term. 

Promising to usher in a "golden age" for cryptocurrencies, Trump has positioned himself as a pro-crypto leader, contrasting the regulatory stance of the previous administration. Launched two months before the election, WLF and its tokens, including $TRUMP and Melania Trump's $MELANIA coin, have sparked both excitement and ethical concerns.

The $TRUMP coin’s meteoric rise, briefly peaking at $74.59, highlights the speculative fervor in the market, though experts warn of potential legal and financial pitfalls. Critics argue these ventures blur the lines between political influence and speculative assets, raising red flags about conflicts of interest and regulatory oversight. 

Finsum: Despite skepticism, the launch has fueled a broader rally in cryptocurrency markets, with Bitcoin hitting record highs amid optimism about Trump’s crypto-friendly policies.

A key advantage of a 401(k) is its generous contribution limits, which allow workers under 50 to save up to $23,500 in 2025, not including any employer match. Those 50 and older can save even more, with a standard limit of $31,000. 

Thanks to a recent SECURE 2.0 Act update, workers aged 60 to 63 can contribute an additional $11,250 as a catch-up, bringing their total contribution limit to $34,750 for 2025. This higher limit, tied to inflation, could increase further in the future but reverts to $7,500 once participants turn 64.

Maximizing contributions is most beneficial for high earners looking to reduce taxable income while saving for retirement, but even smaller contributions can significantly impact long-term savings. 

Finsum: Advisors and investors should stay informed about future 401(k) changes to make the most of their retirement savings opportunities.

The NFC and AFC championship games are set, with the Eagles hosting the Commanders and the Bills facing the Chiefs for a spot in Super Bowl LIX. These matchups highlight intriguing storylines, from the Eagles' dominant roster depth to the Commanders’ reliance on rookie quarterback Jayden Daniels' exceptional play. 

Philadelphia's defense and Saquon Barkley’s consistency against Washington make them a tough opponent, but the Commanders’ opportunistic defense and run game could swing the odds in their favor.

Meanwhile, the Bills, led by Josh Allen, have shown resilience in close games, while the Chiefs will lean on Patrick Mahomes and their big-play threats, like Travis Kelce, to secure another Super Bowl appearance. In the AFC, Buffalo’s overall offensive efficiency gives them an edge, but Kansas City’s experience and home-field advantage cannot be underestimated. 

Finsum: Both games promise drama as teams vie for NFL’s ultimate prize, inclement weather could prove for a throwback championship weekend. 

Amid ongoing market volatility, technology stocks centered on AI, cloud computing, 5G, and IoT continue to gain traction, offering long-term growth potential. Small and mid-sized companies like UiPath Inc., Five9 Inc., and Innodata Inc. are drawing attention with strong revenue growth and recent positive earnings estimate revisions. 

Despite challenges stemming from concerns over high valuations and Federal Reserve policy shifts, the tech sector remains buoyed by relentless innovation and adaptability. Investors are particularly interested in companies providing automation platforms, intelligent cloud solutions, and advanced AI-driven data services. 

For example, UiPath has introduced generative AI features tailored to business needs, Five9 focuses on enhancing customer engagement through its cloud contact center platform, and Innodata supports Big Tech with AI data engineering services. 

Finsum: While the AI battle will happen at scale these companies could prove to be fruitful growers in the AI age.

Donald Trump's proposed tariffs are already unsettling global markets, with steep duties on imports from China, Canada, Mexico, and elsewhere threatening to disrupt trade flows and spark retaliatory measures. 

China, facing tariffs as high as 60%, is grappling with a weakened yuan and struggling stock markets, with analysts forecasting further currency declines to cushion exporters. In Europe, the euro faces pressure from trade uncertainty and weakening Chinese demand, with the potential for parity with the dollar amid economic concerns and tariff impacts.

The European auto sector is particularly vulnerable, with shares swinging sharply on tariff news and broader economic weaknesses prolonging market underperformance. Canada’s currency has also dropped significantly amid threats of tariffs and a turbulent political climate, while Mexico’s peso remains volatile, reflecting ongoing risks tied to U.S. trade policies. 

Finsum: These developments underscore the widespread economic uncertainty and market fragility as Trump’s trade agenda looms.

ETFs are generally more tax-efficient than mutual funds, potentially making them a better vehicle for delivering alpha in taxable accounts. Active ETFs combine the adaptability of active management with the tax advantages of ETFs, as only 16% of active ETFs have distributed capital gains in the past five years, compared to 53% of active mutual funds. 

The ability to defer capital gains through in-kind redemptions can significantly reduce tax costs, allowing for better compounding of returns over time. Tax efficiency plays a critical role, especially in strategies like active equities, where minimizing taxable distributions has a notable impact on performance. 

Evaluating active ETFs involves assessing the manager’s skill, the market’s alpha opportunities, and the investor's ability to select and stick with quality managers. Incorporating active ETFs into a portfolio requires careful consideration of the fund's exposure, risk profile, costs, and long-term performance.

Finsum: Thinking of tax as alpha is really the correct quantitative approach that gives a holistic view of your portfolio.