Wealth Management
Global equity ETFs are gaining attention as investors seek cost-effective exposure to international stocks, even as 2025’s first half brought mixed results amid resilient earnings, easing inflation, and rising geopolitical risks.
European-domiciled global large-cap blend ETFs pulled in €30 billion between January and May, reflecting a surge in popularity over the past year. Morningstar analysts screened 152 funds in this category, identifying 16 passively managed ETFs with Silver Medalist Ratings based on their high long-term performance potential.
Among the largest are the iShares Core MSCI World UCITS ETF (EUNL), Vanguard FTSE All-World UCITS ETF (VWRL), and Xtrackers MSCI World UCITS ETF (XDWL), all of which delivered solid one-year returns despite modest year-to-date declines. These ETFs track broad global benchmarks and, in some cases, outperformed them slightly over the past year.
Finsum: For investors looking to diversify beyond U.S. markets, these highly rated global funds offer a straightforward, low-cost entry point.
Raymond James Financial, long a leader in recruiting advisors from rival firms, is experiencing its strongest hiring momentum since the 2008–2009 financial crisis. With the stock market rebounding after tariff-related uncertainty earlier this year, the firm is benefiting from a robust recruiting pipeline and high advisor commitments.
CEO Paul Shoukry noted that current activity levels rival the post-crisis surge, but with larger, more established teams now seeking the firm as a stable home. In the June quarter, Raymond James reported $11.7 billion in net new domestic assets, translating to a 3.4% annualized growth rate, with activity accelerating into the high single digits last month.
Industry disruption, including LPL Financial’s acquisition of Commonwealth Financial Network, has created new recruiting opportunities that Raymond James is actively pursuing.
Finsum: Advisors are looking to technical features firms can offer, so be sure to examine the whole package when picking a firm.
As investors seek diversification beyond U.S. stocks, active emerging markets ETFs may offer an edge over broad international equity funds for the rest of 2025. These markets currently trade at lower valuations than developed international equities, creating potential for stronger gains under favorable conditions.
Active managers can exploit this by using fundamental research to identify the most promising companies. Emerging markets also feature younger firms well-positioned to benefit from global growth trends, particularly in technology and e-commerce.
The Avantis Emerging Markets Value ETF (AVES), for instance, charges 36 bps and targets profitable, value-oriented companies, helping it outperform category averages with a recent 13.5% three-month return.
Finsum: Active emerging markets ETFs present a compelling option for globally minded investors.
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The S&P 500 closed above 6,400 for the first time ever, driven by a broad stock market rally following fresh inflation data. The Dow Jones Industrial Average rose nearly 500 points, the S&P 500 gained 1.1%, and the Nasdaq Composite climbed 1.4%, with both indexes ending at record highs.
Small-cap stocks surged as well, with the Russell 2000 jumping almost 3% on renewed optimism for a September Fed rate cut. The latest Consumer Price Index report showed core inflation rising 3.1% year over year in July, while headline inflation held steady at 2.7%, slightly below expectations.
Markets now see a 94% probability of a rate cut, helping boost risk assets across the board. In corporate news, Intel shares rose over 5% after CEO Lip-Bu Tan met with President Trump, who praised Tan’s leadership despite having called for his resignation just a week earlier.
Finsum: Keep an eye out for multiple cuts this year, and surging equities despite a sluggish economy.
Model portfolios are quietly transforming the wealth management industry, gradually replacing the once-standard approach of bespoke portfolio construction. More than 80% of fee-based advisors now use models for at least some assets, with trillions in AUM shifting toward this streamlined, outsourced method.
While models bring scale and efficiency, they raise hard questions about advisor value, especially when clients can access similar portfolios at a fraction of the cost. As robo-advisors like Vanguard grow in market share, the pressure mounts for human advisors to offer more than commoditized investment solutions.
To stay relevant, advisors must differentiate through advanced planning, alternative investments, tax strategies, and highly personalized service.
The future of financial advice hinges not on portfolio management alone, but on the depth and breadth of the advisor-client relationship.
Gold futures spiked sharply above spot prices after reports suggested the U.S. would impose unexpected tariffs on 1 kg and 100 oz bars, a major disruption for Switzerland, the global refining hub.
These bar sizes are central to U.S. trading, and the sudden policy shift triggered short-covering and a widening of the exchange-for-physical (EFP) spread, echoing past dislocations during COVID and earlier tariff fears. The turmoil has raised doubts about the reliability of New York futures markets for price discovery, as policy volatility increasingly distorts trading signals.
Meanwhile, the December gold contract hit a record $3,534, but analysts caution that spot prices, not futures, reflect gold’s real value. A similar drama unfolded in copper markets, where a tariff scare caused prices to soar—only to collapse when Trump reversed course.
Finssum: Heavy trader losses, bloated U.S. inventories, and mounting questions about the integrity of U.S. commodity pricing amid tariff uncertainty are the result.