With interest rates returning to more normalized levels, municipal bond yields are drawing renewed attention—and investors are looking for time-tested strategies to navigate this evolving landscape. This week on Basis Points, Kevin Flanagan is joined by Rick Harper to introduce the WisdomTree Core Laddered Municipal Bond Fund (WTMU) and the WisdomTree High Income Laddered Municipal Bond Fund (WTMY), combining the consistency of laddered bond strategies with the active credit expertise of Insight Investment Management.


Basis point: 1/100th of 1 percent.
Bloomberg Municipal Bond Index: Measures the performance of the Bloomberg U.S. Municipal bond market.
Obligor: refers to a bond issuer who is contractually bound to make all principal repayments and interest payments on outstanding debt.


Introducing a Time-Tested Solution for Municipals

Join David Bodamer, Editorial Director at WealthManagement.com, and his guest, Brad Walker, Co-President at CAIS, as they delve into the transformative landscape of alternative investments. 

Discover why independent wealth managers and RIAs are increasingly incorporating alts into client portfolios and the innovative trends making this possible.

Highlights from this episode include:

- The growth and evolution of the CAIS platform [00:00:37]
- Shifts in advisor strategies towards diversifying alternative investments [00:03:18]
- The importance of technology in streamlining alt investments and management [00:12:55]
- How CAIS is making alternative investments accessible to a broader advisor base [00:23:40]
- And more

Connect With David Bodamer:

david.bodamer@informa.com 
Website: https://www.wealthmanagement.com/ 
LinkedIn: David Bodamer : https://www.linkedin.com/in/david-bodamer-9a0581a/  
LinkedIn: WealthManagement.com: https://www.linkedin.com/company/wealthmanagement-com/ 

Connect With Brad Walker:

CAIS: https://www.caisgroup.com/ 
LinkedIn: Brad Walker: https://www.linkedin.com/in/brad-walker-3142402/ 

About Our Guest:

Brad Walker is Co-President of CAIS, where he drives the firm’s client experience and growth initiatives, ensuring independent financial advisors have the access, education, and innovation they need to adapt to the evolving world of alternative investments. He is committed to transforming how the independent wealth ecosystem engages with alternatives, helping advisors deliver greater value to their clients. Under his leadership, CAIS continues to enhance its platform, deepen industry partnerships, and set new standards for access, efficiency, and transparency in the space. A member of both the Executive Committee and Operating Committee, Brad plays a central role in shaping CAIS’s vision, growth, and impact on the independent wealth ecosystem.


CAIS’s Brad Walker on Making Alternative Investments Accessible

The postponement of sky high trade tariffs between the US and China has brought relief to financial markets.  A broad de-escalation of the Trump tariff shock is anticipated, despite lack of clarity on future levels.

Today we will review the latest on global trade, including prospects for an eventual US/China trade deal, as well as the real work impacts. And we will outline our tactical asset allocation response.

Presented by Aymeric Forest CFA, Head of Investment Strategy, Seamus Lyons CFA, Senior Investment Manager and Thomas Vogl, Portfolio Manager. Hosted by Lorna Denny, Investment Specialist.

This podcast is intended for professional investors, and must not be shared with a non-professional audience.

Not for Retail distribution: This marketing communication is intended exclusively for Professional, Institutional or Wholesale Clients / Investors only, as defined by applicable local laws and regulation. Circulation must be restricted accordingly.

This marketing communication does not constitute on the part of AXA Investment Managers a solicitation or investment, legal or tax advice. This material does not contain sufficient information to support an investment decision.

It has been established on the basis of data, projections, forecasts, anticipations and hypothesis which are subjective. Its analysis and conclusions are the expression of an opinion, based on available data at a specific date.

All information in this document is established on data made public by official providers of economic and market statistics. AXA Investment Managers disclaims any and all liability relating to a decision based on or for reliance on this document. All exhibits included in this document, unless stated otherwise, are as of the publication date of this document.

Furthermore, due to the subjective nature of these opinions and analysis, these data, projections, forecasts, anticipations, hypothesis, etc. are not necessary used or followed by AXA IM’s portfolio management teams or its affiliates, who may act based on their own opinions. Any reproduction of this information, in whole or in part is, unless otherwise authorised by AXA IM, prohibited.

Past performance is not a guide to current or future performance, and any performance or return data displayed does not take into account commissions and costs incurred when issuing or redeeming units. References to league tables and awards are not an indicator of future performance or places in league tables or awards and should not be construed as an endorsement of any AXA IM company or their products or services. Please refer to the websites of the sponsors/issuers for information regarding the criteria on which the awards/ratings are based. The value of investments, and the income from them, can fall as well as rise and investors may not get back the amount originally invested. Exchange-rate fluctuations may also affect the value of their investment. Due to this and the initial charge that is usually made, an investment is not usually suitable as a short term holding.

Issued in the UK by AXA Investment Managers UK Limited, which is authorised and regulated by the Financial Conduct Authority in the UK. Registered in England and Wales No: 01431068. Registered Office: 22 Bishopsgate London EC2N 4BQ

In other jurisdictions, this document is issued by AXA Investment Managers SA’s affiliates in those countries.

Panel Podcast - Have we seen the worst?

In this episode of the Wealth Management Invest Podcast, host David Bodamer sits down with Kristen Mirabella, head of partnerships at Eaglebrook Advisors, to discuss the evolving role of cryptocurrency in wealth management.

Eaglebrook is a digital asset platform that allows advisors to invest directly in crypto through separately managed accounts. 

Kristen talks about Eaglebrook’s compliance-first mindset and how in-kind transfers and tax-efficient strategies are helping advisors meet growing client demand for digital assets.

Key highlights include:

- Enabling direct investment in crypto SMAs with Eagle Brook 
- Navigating the process of in-kind transfers 
- Tax loss harvesting benefits of crypto SMAs 
- Integrating crypto into client portfolios 
- And more

Connect With David Bodamer:

david.bodamer@informa.com 
Website: https://www.wealthmanagement.com/ 
LinkedIn: David Bodamer : https://www.linkedin.com/in/david-bodamer-9a0581a/  
LinkedIn: WealthManagement.com: https://www.linkedin.com/company/wealthmanagement-com/ 

Connect With Kristen Mirabella:

Eaglebrook - https://eaglebrook.com/ 
LinkedIn: Kristen Mirabella: https://bit.ly/42t4fuE 

Wealth Management Invest: Demystifying Crypto for Financial Advisors with Kristen Mirabella

In this episode of the Wealth Management Invest Podcast, host David Bodamer sits down with Don Calcagni, the chief investment officer of Mercer Advisors, to explore how Mercer attempts to align investment decisions with financial goals. David and Don dive into defining clear investment objectives that align with clients’ financial aspirations, the importance of moving beyond 60/40 asset allocations, and understanding the psychological hurdles investors face. 

They discuss the latest investment vehicles, transforming strategies, the ongoing active versus passive management debate, and the nuances of private markets.

Connect With David Bodamer:

david.bodamer@informa.com   
Website: https://www.wealthmanagement.com/ 
LinkedIn: David Bodamer : https://www.linkedin.com/in/david-bodamer-9a0581a/  
LinkedIn: WealthManagement.com: https://www.linkedin.com/company/wealthmanagement-com/ 

Connect With Don Calcagni:

Mercer Advisors: https://www.merceradvisors.com/ 
LinkedIn: Don Calcagni: https://www.linkedin.com/in/donald-calcagni-8104b546/ 

About Our Guest:

As Chief Investment Officer, Don is responsible for setting the strategic direction of the firm’s investment offering, chairing the firm's investment committee, and the prudent stewardship of over $70 billion in assets under management. As a member of the executive leadership team, he also participates in M&A due diligence, oversees investment integration for new acquisitions, and provides ongoing advice regarding the firm's overall strategic direction to the Board of Directors, President, and Chief Executive Officer.

#podcast #invest #education #WealthManagement

Wealth Management Invest: Rethinking Portfolio Diversification with Don Calcagni

In this episode of the Wealth Management Invest Podcast, host David Bodamer interviews Tom Cohn, partner and chief solutions officer at Cerity Partners. They explore the significance of private markets in client portfolios and discuss asset allocation strategies. 

Tom shares insights on the evolution of private markets, the rise of evergreen structures and the impact of macroeconomic trends on investment decisions.

They discuss:

- Key considerations for client portfolios, including illiquidity risk and asset class diversification
- The growing importance of data centers and AI-driven infrastructure investments
- How secondaries provide diversification and reduce risk exposure
- The shift of credit opportunities from banking to asset management 

Connect With David Bodamer:

david.bodamer@informa.com 
Website: https://www.wealthmanagement.com/ 
LinkedIn: David Bodamer : https://www.linkedin.com/in/david-bodamer-9a0581a/  
LinkedIn: WealthManagement.com: https://www.linkedin.com/company/wealthmanagement-com/ 

Connect With Tom Cohn:

LinkedIn: Tom Cohn: https://www.linkedin.com/in/thomas-cohn-cfa-8917b927/ 
LinkedIn: Cerity Partners: https://www.linkedin.com/company/cerity-partners/ 
Cerity Partners: https://ceritypartners.com/ 

Resources:

Listen to the Wealth Management Invest Podcast on WealthManagement.com: https://bit.ly/3EHpeRh 
Listen and Subscribe to the Wealth Management Invest Podcast on Apple Podcasts: https://bit.ly/4m1s30k 
Listen and Subscribe to the Wealth Management Invest Podcast on Spotify: https://bit.ly/4d0rD67 

Wealth Management Invest: Cerity’s Tom Cohn on Private Market Allocations

La settimana si è chiusa in positivo per i mercati azionari globali, con rialzi guidati da small cap statunitensi, Europa e Cina. In evidenza Intel: secondo indiscrezioni, l’amministrazione Trump sarebbe pronta a entrare nel capitale del colosso dei semiconduttori, a sostegno dei piani per lo sviluppo di un polo manifatturiero in Ohio. Sul piano geopolitico, il colloquio fra Trump e Putin ha riacceso le speranze di un cessate il fuoco e di un possibile accordo di pace.

Sul fronte macroeconomico, l’inflazione statunitense resta al centro dell’attenzione. Se il dato sui prezzi al consumo è risultato migliore delle attese, a sorprendere è stato l’indice dei prezzi alla produzione, balzato dello 0,9% mensile contro lo 0,2% previsto. Un aumento legato alle tariffe, che potrebbe tradursi in pressioni sui margini aziendali o in un rialzo dell’inflazione al consumo. In questo contesto, i dati sulle vendite al dettaglio e le trimestrali di colossi come Walmart, Target e Home Depot offriranno indicazioni cruciali sulla tenuta dei consumi. Walmart, in particolare, arriva all’appuntamento con un P/E di 36 volte, per la prima volta superiore a quello di Amazon.

Le valutazioni di mercato restano elevate: l’S&P 500 tratta con multipli superiori alla media storica, ma ancora inferiori dell’8% rispetto ai picchi del 2000. Opportunità emergono però in settori penalizzati, come l’healthcare, e nelle small cap value, a sconto rispetto alle medie storiche. In Cina, l’azionario ha guadagnato il 32% nell’ultimo anno, raggiungendo i massimi decennali.

Il simposio di Jackson Hole sarà ora decisivo per chiarire le prossime mosse della Fed, con i mercati che scontano già un taglio dei tassi a settembre. In uno scenario incerto, la selettività negli investimenti resta la chiave per affrontare i futuri scossoni di mercato.

Difensivi come áncora di stabilità per i portafogli

In this episode of Wealth Management Invest, host David Bodamer talks with Jonathan McEvoy, managing director, Investor Relations and head of Private Wealth Secondaries Solutions Distribution at Coller Capital, to explore how secondaries provide an additional access point to private markets. Jonathan shares the growth story of private equity and private credit secondaries, their benefits to advisors and clients and how Coller Capital uses semiliquid funds to deliver its strategies. 

Key Points :

- The evolution of the secondary market from niche beginnings to a $160 billion-plus annual transaction space
- How secondaries provide liquidity, diversification and reduced risk through seasoned portfolios
- The advantages of semiliquid fund structures for private wealth investors
- The growing importance of education for advisors and clients when approaching secondaries

Connect With David Bodamer:

david.bodamer@informa.com 
Website: https://www.wealthmanagement.com/ 
LinkedIn: David Bodamer : https://www.linkedin.com/in/david-bodamer-9a0581a/  
LinkedIn: WealthManagement.com: https://www.linkedin.com/company/wealthmanagement-com/ 

Connect With Jonathan McEvoy:

Website: Coller Capital - https://www.collercapital.com/ 
LinkedIn: Jonathan McEvoy - https://www.linkedin.com/in/jonathanmcevoy/ 

Resources:

Listen to the Wealth Management Invest Podcast on WealthManagement.com: https://bit.ly/3EHpeRh 
Listen and Subscribe to the Wealth Management Invest Podcast on Apple Podcasts: https://bit.ly/4m1s30k 
Listen and Subscribe to the Wealth Management Invest Podcast on Spotify: https://bit.ly/4d0rD67 

Wealth Management Invest: The Role of Secondary Markets in Private Wealth with Coller Capital’s Jonathan McEvoy

In this episode of Wealth Management Invest, host David Bodamer speaks with Todd Schlanger, CFA, senior investment strategist for multi-asset investing at Vanguard, to explore how advisors can approach portfolio construction in today’s market. 

Todd shares why the 60/40 portfolio still plays a crucial role, the rise of dynamic and active-passive strategies, and the increasing use of ETFs in model portfolios. He also explains Vanguard’s 13 investment strategies and highlights the role advisors can play in guiding client behavior during periods of market volatility.

Key takeaways:

- Why the 60/40 portfolio remains relevant as a long-term “all-weather” strategy
- How dynamic strategies adapt to capital market assumptions across more than 100 asset classes
- The growing role of ETFs, including passive and active approaches, in model portfolios
- Vanguard’s 13 strategies are designed to address diverse investor needs and objectives
- The importance of advisor behavioral coaching to help clients stay disciplined through volatility

Connect With David Bodamer:

david.bodamer@informa.com 
Website: https://www.wealthmanagement.com/ 
LinkedIn: David Bodamer : https://www.linkedin.com/in/david-bodamer-9a0581a/  
LinkedIn: WealthManagement.com: https://www.linkedin.com/company/wealthmanagement-com/ 

Connect With Todd Schlanger

Vanguard - http://www.vanguard.com 
LinkedIn: Todd Schlanger - https://www.linkedin.com/in/todd-schlanger-cfa-b202523/ 

Resources:

Listen to the Wealth Management Invest Podcast on WealthManagement.com: https://bit.ly/3EHpeRh 
Listen and Subscribe to the Wealth Management Invest Podcast on Apple Podcasts: https://bit.ly/4m1s30k 
Listen and Subscribe to the Wealth Management Invest Podcast on Spotify: https://bit.ly/4d0rD67 

Wealth Management Invest: Building Resilient Portfolios with Vanguard’s Todd Schlanger

Pfersching establishes time horizon as the primary architectural principle for portfolio construction, translating the three voyage categories from Chapter 1 into concrete asset allocation mandates. Short-term goals (1-3 years) demand capital preservation fleets composed of high-yield savings accounts, money market funds, and short-term government bonds, explicitly warning against the "rookie mistake" of chasing stock market returns with near-term capital. Medium-term objectives (3-10 years) require balanced armadas combining 40-60% equities with 40-60% bonds, exemplified by diversified ETF portfolios that provide growth while absorbing volatility. Long-term horizons (10+ years) unlock equity-dominated strategies (80-90% stocks) leveraging compounding's exponential power through global diversification. Pfersching critiques the rigid "100 minus age" allocation rule, advocating customization based on income stability and psychological tolerance, emphasizing that purpose-built portfolios aligned with time horizons transform generic "investing" into strategic capital deployment.

Chapter 6: Time as Strategic Determinant

Benvenuti a Navigare i Mercati, il podcast di Pharus che ogni settimana vi aggiorna in pochi minuti sui mercati finanziari europei, americani ed emergenti, con particolare attenzione alla politica monetaria, ai tassi di interesse, ad azioni e obbligazioni da tenere monitorate. 
Il tutto per fornire indicazioni su come investire oggi, ma con obiettivi chiari e specifici che portino a risultati concreti nel medio e lungo termine.

This podcast is intended for professional investors, and must not be shared with a non-professional audience. 

Not for Retail distribution: This marketing communication is intended exclusively for Professional, Institutional or Wholesale Clients / Investors only, as defined by applicable local laws and regulation. Circulation must be restricted accordingly.

This marketing communication does not constitute on the part of AXA Investment Managers a solicitation or investment, legal or tax advice. This material does not contain sufficient information to support an investment decision.

It has been established on the basis of data, projections, forecasts, anticipations and hypothesis which are subjective. Its analysis and conclusions are the expression of an opinion, based on available data at a specific date.

All information in this document is established on data made public by official providers of economic and market statistics. AXA Investment Managers disclaims any and all liability relating to a decision based on or for reliance on this document. All exhibits included in this document, unless stated otherwise, are as of the publication date of this document.
Furthermore, due to the subjective nature of these opinions and analysis, these data, projections, forecasts, anticipations, hypothesis, etc. are not necessary used or followed by AXA IM’s portfolio management teams or its affiliates, who may act based on their own opinions. Any reproduction of this information, in whole or in part is, unless otherwise authorised by AXA IM, prohibited.

Past performance is not a guide to current or future performance, and any performance or return data displayed does not take into account commissions and costs incurred when issuing or redeeming units. References to league tables and awards are not an indicator of future performance or places in league tables or awards and should not be construed as an endorsement of any AXA IM company or their products or services. Please refer to the websites of the sponsors/issuers for information regarding the criteria on which the awards/ratings are based. The value of investments, and the income from them, can fall as well as rise and investors may not get back the amount originally invested. Exchange-rate fluctuations may also affect the value of their investment.  Due to this and the initial charge that is usually made, an investment is not usually suitable as a short term holding. 

Issued in the UK by AXA Investment Managers UK Limited, which is authorised and regulated by the Financial Conduct Authority in the UK. Registered in England and Wales No: 01431068. Registered Office: 22 Bishopsgate London EC2N 4BQ

In other jurisdictions, this document is issued by AXA Investment Managers SA’s affiliates in those countries.

Macro commentary and expert-led discussions highlight what’s happening now in fixed income investing, so you can prepare for what’s next.

Investing involves risks including loss of principal. This material represents the opinions of the participants at a specific time and is not intended to forecast future events or guarantee future results and should not be relied upon as investment advice. Kevin Flanagan is a registered rep of Foreside Fund Services, LLC.

New tracks tagged #AssetAllocation