At the ETFs Summit hosted by S&P Dow Jones and the Mexican Stock Exchange, industry leaders predicted that active ETFs will continue growing rapidly, drawing market share not only from mutual funds but increasingly from structured notes. Structured notes—once prized for their customization—are losing ground as active ETFs replicate similar strategies with added liquidity, transparency, and without the counterparty risk inherent in notes. 

Retrocession fees no longer necessary, ETFs provide institutional-class access with real-time pricing, something structured notes cannot offer. While structured notes often come with hidden complexities and limited tradability, active ETFs deliver the same exposure with the ease of public market trading and daily liquidity. 

This shift is part of a larger industry trend: of 600 ETFs launched last year, 400 were actively managed, signaling innovation is now happening more through ETFs than through complex structured products. 

Finsum: As ETFs expand their reach across asset classes, including private credit and crypto, their dominance over less liquid, opaque vehicles like structured notes seems increasingly likely.

Estate planning is often overlooked or treated as an afterthought, crammed into the final moments of client meetings, if it’s offered at all. Yet nearly all investors, especially younger ones, now expect their advisors to include estate and tax planning as core parts of a holistic financial strategy. 

As trillions of dollars shift between generations, advisors who avoid these conversations risk irrelevance and client attrition. A modern, effective approach to estate planning requires more than good intentions, it demands scalable technology, family-inclusive strategies, and clear, repeatable processes. 

Platforms that visualize beneficiary summaries, tax impact, and legacy goals not only make these conversations easier but also more meaningful and professional. 

Finsum: In today’s competitive advisory landscape, firms that prioritize thoughtful estate planning will be the ones that grow, retain assets, and lead the next era of wealth management.

Clients often face unexpected personal setbacks, and advisors should be prepared to offer support without overstepping. Asking thoughtful, respectful questions during reviews can help uncover early warning signs, such as increased withdrawals or halted contributions. 

If something feels off, gently probing with intuitive questions that may reveal issues like family medical concerns or caregiving challenges. When a problem surfaces, framing it with empathy and context, like noting how common it is, can make clients feel less isolated and more receptive. 

It is crucial to gauge whether the client welcomes involvement or views it as intrusive; their response should guide your next steps. 

Finsum: Being present during hard times, not just the good ones, is what builds lasting trust and loyalty.

The Franklin U.S. Large Cap Multifactor Index ETF (FLQL), launched by Franklin Templeton in 2017, provides broad exposure to the U.S. large cap blend market by tracking the LibertyQ US Large Cap Equity Index. With $1.56 billion in assets under management and an expense ratio of just 0.15%, FLQL is a low-cost option for investors seeking diversified exposure to large, stable companies combining value and growth traits. 

The ETF emphasizes information technology, healthcare, and telecom, with top holdings including Nvidia, Microsoft, and Apple—its top ten positions making up over a third of the portfolio. 

Its strategy uses a multifactor model focusing on quality, value, momentum, and low volatility to outperform traditional benchmarks like the Russell 1000 over time. Year to date, FLQL has returned 10.89% and nearly 18.52% over the past year, with a beta of 0.94 and 217 holdings to help mitigate company-specific risk. 

Finsum: For those comparing alternatives, SPY and VOO are larger and slightly cheaper S&P 500-tracking ETFs, but FLQL offers a unique multifactor approach worth considering.

PayPal announced a new service called “Pay with Crypto,” which will enable businesses to accept over 100 types of cryptocurrencies, including bitcoin and ethereum. The system allows users to pay with popular crypto wallets like Coinbase and MetaMask, with all payments instantly converted into fiat or PayPal’s U.S.-dollar-backed stablecoin, PYUSD. 

Aimed at streamlining cross-border transactions, the service promises lower fees, with a promotional 0.99% transaction rate through July 2026—well below typical credit card processing costs. 

CEO Alex Chriss highlighted that merchants can receive dollars within seconds, bypassing the volatility and technical challenges typically associated with crypto payments. Businesses can begin opting into a beta rollout in the coming weeks, with broader availability expected later this year. 

Finsum: The launch coincides with a major policy shift as the GENIUS Act, the first U.S. crypto legislation, was recently signed into law, solidifying regulatory support for stablecoins and digital assets.

Only about 6% of advisors planning to retire within the next ten years have a fully documented succession plan in place. While most first‑generation (G1) advisors express confidence about their transition, many feel reluctant to relinquish control, with 58% admitting they struggle to hand over leadership functions.

 On the other hand, successors (G2 advisors) often report uncertainty about timelines and compensation, and roughly one in three say they would consider leaving if the succession path remains vague. 

To bridge the gap, the study identifies three pillars essential for successful transitions: transparency, training, and tangible, documented leadership plans. Equity incentives also matter: fewer than half of G1 advisors have transferred any ownership stake, which fuels G2 turnover risk when their compensation lacks clarity. 

Finsum: Ultimately, without structured alignment between retiring firm owners and their successors, firms face elevated risks of client attrition, fractured continuity, and erosion of enterprise value.

Global equity funds attracted $8.71 billion in net inflows, reversing the previous week’s $4.4 billion outflow, as risk appetite returned. Investor optimism was fueled by solid U.S. economic data, progress on trade deals with Japan and the EU, and upbeat early earnings reports, including record profits from TSMC and a forecast bump from PepsiCo. 

European equity funds led the charge with $8.79 billion in inflows, their best showing in 11 weeks, while U.S. equity outflows slowed significantly. Sector-wise, tech rebounded with $1.61 billion in inflows, while financials and industrials each brought in over $1 billion. 

Global bond funds continued their 14-week inflow streak, adding $17.94 billion, led by short-term, euro-denominated, and high-yield bond categories. Commodity funds saw a resurgence too, with gold and precious metals funds notching $1.9 billion in net inflows, their strongest showing in over a month.

Finsum: If optimism over trade deals and AI-driven earnings continues to build, we could be on the verge of a sustained equity rally that pulls even hesitant U.S. investors off the sidelines.

Google is committing $25 billion over the next two years to build out artificial intelligence infrastructure in the Mid-Atlantic and beyond, marking one of its largest regional investments to date. The announcement will be made at the Pennsylvania Energy & Innovation Summit, where Google will also unveil a $3 billion agreement to purchase hydroelectric power from Brookfield Asset Management. 

As part of that deal, Google will help modernize two Brookfield facilities to support its goal of running operations on 24/7 carbon-free energy. Alphabet’s chief investment officer Ruth Porat emphasized that the investments will expand clean energy access and help train Americans for careers in the AI-driven economy. 

President Trump and other key leaders will attend the summit at Carnegie Mellon University, underscoring the federal government’s alignment with AI infrastructure expansion. Meanwhile, AI firm CoreWeave is also expected to announce a $6 billion data center in Pennsylvania, highlighting growing private-sector momentum in the region’s tech transformation.

Finsum: There seems to be little doubt that AI infrastructure will dominate the alt space the next decade. 

So far in 2025, investment-grade bonds have generally delivered modest gains, but municipal bonds have bucked the trend with disappointing performance. The iShares Core U.S. Aggregate Bond ETF (AGG) returned 2.85% through mid-June, while the iShares National Muni Bond ETF (MUB) declined by 1.29%, despite their similar credit quality and low fees. 

One key difference lies in liquidity: municipal bonds are often held long-term, making them harder to trade, with wide bid-ask spreads that erode value during redemptions. Outflows from MUB and uncertainty around tax policy, especially the fate of the 2017 tax cuts, may also be pressuring muni prices. 

For investors in high tax brackets, limited allocations to diversified, low-cost muni funds may still be warranted, but caution is advised, and exposure should generally stay under 20% of fixed income holdings.

Finsum: Structural issues, like the possibility of reduced federal funding for states and large unfunded liabilities, further cloud the muni bond outlook.

Married retirees with an age or income gap can significantly reduce their Social Security tax bill in 2025 by delaying benefits and strategically using the new $6,000 Senior Deduction. For example, when the older spouse defers Social Security until age 70, it not only boosts lifetime income but also helps lower the couple’s current combined income, keeping more benefits tax-free. 

Roth IRA conversions during low-income years and Qualified Charitable Distributions (QCDs) after age 70½ are smart ways to cut taxable income without losing access to deductions. The Senior Deduction becomes especially powerful when couples keep their Modified Adjusted Gross Income (MAGI) under $150,000, the cap for eligibility. 

By timing withdrawals from IRAs to coincide with lower earning years and coordinating the younger spouse’s income, couples can avoid tipping into higher Social Security tax brackets. 

Finsum: A well-planned mix of benefit delays, tax-efficient withdrawals, and smart giving can make retirement income go further while keeping taxes in check.

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