Insights & perspectives.

Ten structural signs your wirehouse relationship has run its course, and how to switch advisors without triggering taxes or disrupting your portfolio.

On Tuesday afternoon, three stocks moved enough to pull the entire S&P 500 down 1.4 percent in a single session. Most investors holding “the market” through a passive index fund or ETF watched their balance dip and concluded, reasonably, that the market had a bad day.

For a retiring academic with TIAA-CREF, the decision usually arrives framed as a binary. Leave everything at TIAA and draw it down across retirement, the way most colleagues do. Or roll the whole balance out to an IRA and start over with a new advisor. Both options miss the better answer.

Signed into law on July 4, 2025 as part of the One Big Beautiful Bill Act, the Trump account (the new §530A account) is a tax-advantaged retirement account opened in a child's name. Any child under 18 with a Social Security number is eligible — there are no income limits on contributors and no earned-income requirement.

In Parts I and II of this series, we walked the public regulatory record of Wells Fargo and Morgan Stanley.1 Two firms. Combined documented federal and state enforcement and admitted misconduct: approximately $13 billion across the windows the two installments covered. One word still on the marketing materials at both firms: fiduciary. Part III turns to Merrill Lynch and Bank of America.

The five major U.S. wirehouses — Wells Fargo, Goldman Sachs, Morgan Stanley, Merrill Lynch, and JPMorgan Chase — all market themselves as fiduciary-minded, client-first institutions. Their regulatory records, all of which sit in public databases at the SEC, DOJ, CFPB, OCC, FINRA, and the Federal Reserve, tell a different story.

The five major U.S. wirehouses — Wells Fargo, Goldman Sachs, Morgan Stanley, Merrill Lynch, and JPMorgan Chase — all market themselves as fiduciary-minded, client-first institutions. Their regulatory records, all of which sit in public databases at the SEC, DOJ, CFPB, OCC, FINRA, and the Federal Reserve, tell a different story.

When you “diversify” across mutual funds and ETFs, you're often paying twice for what you can get once. The structural argument for individual securities — and the $6.9 million it can mean.

Learn what is risk tolerance in investing and its impact on your portfolio. Our guide covers assessment, asset allocation, and strategies for HNW investors.

Learn how to plan for early retirement with a roadmap for high-net-worth individuals. Our guide covers complex assets, tax strategies, and risk management.

Deciding between a wealth manager vs financial planner? Our guide helps HNW individuals, families, and business owners choose the right expert for their needs.

A step-by-step guide on how to talk to adult children about wealth in 2026. Navigate tax changes, digital assets, & family dynamics with checklists & scripts.

Planning for private concierge medicine costs in retirement - Learn to estimate, integrate, and use tax-efficient strategies for planning private concierge medicine costs in retirement.

Navigate the risks of private credit in a 2026 economic slowdown. Our guide helps HNWIs & family offices avoid defaults, illiquidity, and valuation pitfalls.

Explore smart Energy sector investments for AI power needs in 2026. Discover key strategies, market trends, and growth opportunities to power the future of AI.

A practical guide for HNW investors on locking in bond yields before 2026 rate cuts. Learn strategies for duration, laddering, and tax optimization.

Investing in AI data center infrastructure 2026 - Discover expert insights on Investing in AI data center infrastructure 2026. Explore demand drivers.

Learn expert strategies for combating lifestyle inflation 2026. This HNW guide covers diagnosis, spending caps, & tax-aware methods to protect your wealth.

What does wealth management do? Explore services, fees, & benefits for high-net-worth individuals, families, & niche clients in 2026.

Build a personal financial plan designed for significant wealth. Our guide covers advanced investment, tax, and estate strategies for HNWIs and families.

Navigate 2026 retirement income tax for HNW retirees. Covers Social Security, RMDs, and advanced tax-saving strategies with a wealth advisor.

Discover how much money to retire comfortably in 2026. Our guide for HNW individuals goes beyond the 4% rule to model your unique financial needs.

Explore growth and income funds for your portfolio. Our guide for HNW investors covers strategies, risks, and a smarter alternative for more efficient returns.

Build a resilient long term investing strategy in uncertain economy. Our guide for HNW individuals covers asset allocation, risk, and preserving wealth.