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For many investors, fund-of-funds (FOFs) are the only way to replicate a large, diversified private equity (PE) program and is preferable to constructing a PE program oneself. Another important benefit of a FOF is the ability to aggregate hundreds of potential underlying portfolio capital calls into just a few. On the operational side, FOFs can reduce both the complexity and capital call requirements of a robust PE program. For the investors considering a FOF strategy, a historical analysis also shows the potential for superior investment outcomes.

While “investing success” can mean different things to different investors, determining its meaning is essential to understanding what path to follow. Toward that end, there are four principles that provide a solid framework for improving the chances of investment success: goals, balance, cost, and discipline. By incorporating these guiding principles into your investment strategy and your children's financial education, you can reduce the noise and distractions of the ups and downs of market cycles and focus on the things within your control.

For income earned in 2025 and tax returns filed in 2026, this tax planning reference guide provides information on the tax rate schedules, exemptions, and contributions to savings plans. Check with your advisors to see if you need to make any adjustments regarding your tax efficiency, wealth planning, retirement planning, philanthropic strategics, and business and estate planning.

To clarify the inherited IRA distribution requirements that were first laid out in the 2019 SECURE Act, the IRS issued proposed regulations in 2021 that impacted IRA beneficiaries. While investors and wealth owners may perceive the taxes they’ll incur as unfavorable due to the requirement of minimum distributions, the new regulations may benefit investors by enabling them to spread income over multiple years. This paper, with a case study, examines the tax consequences of different withdrawal strategies.

The good fortune of high productivity growth and a surge in available labor has propelled the U.S. economy, while other economies have been less lucky. A key risk to the U.S. outlook is the potential waning of the positive supply-side factors, though expansionary fiscal policy may cushion any negative impact on growth as the era of sound money lives on.

After several years of rapid innovation in areas like 5G connectivity, artificial intelligence (AI), health tech, and more, 2025 will be the year when these strides start to bear fruit and new technology goes from potential to proven. To prepare for meeting the tech challenges ahead and claim new opportunities amid the digital disruptions, here are this year’s seven tech trends and predictions.

For many affluent families, risk management has become less a matter of how much insurance premiums will cost and more an issue of how much financial risk they are willing and able to accept. In an ever-shifting risk environment where families are assuming higher levels of exposure, families will need to be increasingly cognizant of potential risks in their lives and take proactive steps to safeguard their loved ones, assets, personal data, and financial security.

The myriad of challenges in 2024 significantly impacted operations, budgeting, and workforce management for all organizations in 2025. Leveraging strategic solutions will be essential for optimizing benefits, controlling costs, and supporting employees’ overall well-being in 2025.

Emerging markets (EMs) remain an efficient gateway to powerful secular themes, from technology-driven transformations to consumer growth stories. However, expectations of higher U.S. interest rates and a stronger dollar are likely to challenge EM currencies and investor sentiment in 2025, and the 2024 U.S. election introduced a new layer of uncertainty. While EMs present a landscape of opportunity amid increasing macroeconomic headwinds, investors should be prepared for uneven outcomes across regions.

The insurance market outlook for 2025 shows stabilization in several areas, with continued challenges and evolving risks across property, casualty, executive and professional risk, aviation, environmental, and international lines. In a dynamic yet cautious market, insurers are adapting to changing conditions, regulatory pressures, and emerging threats. Moving forward, organizations are encouraged to utilize risk control strategies to present their accounts favorably to insurance carriers, and to leverage all available tools to align asset values with industry standards.