Our 2026 Financial Planning Guide is now available. It includes up-to-date information in areas including tax planning, education planning, saving for retirement, and more.

Interest rates were volatile during the quarter as the Federal Reserve cut interest rates twice even as inflation remained sticky. Favorable earnings, a Fed rate cut, and positive economic data helped support equity markets during the quarter, and equity REITs struggled during the quarter despite strength in the broader equity market.

The Federal Reserve cut its target rate in December another 25 bps, now targeting 3.50-3.75%. U.S. equity markets were flat in December, and U.S. equity REITs declined and underperformed the broader equity market.

As 2025 has drawn to a close, the year stands out for defining moments that sought to reshape markets and the global economy. From rapid policy shifts on Liberation Day to the return to rate cuts by the U.S. Federal Reserve and renewed hopes for peace in Europe and the Middle East, the past 12 months have been anything but static.

After a brisk rally in October, November saw muted returns across most asset classes. Policy participants have expressed sharply divergent views on future interest rate decisions, leaving investors cautiously optimistic, and leadership rotated toward real assets and commodities, while emerging markets lagged.

Fixed income markets reflected shifting market expectations for Federal Reserve policy during the month. U.S. equity markets were generally positive in the month, with small cap outpacing large cap, and diversifying areas of the market outpaced broader equities as inflation ticked up slightly.

As the holidays approach and the year winds down, the flurry of festivities and to-do lists can easily take center stage. But amid the seasonal rush, it is important to focus on key year-end financial planning opportunities. This 2025 year-end financial checklist highlights 12 meaningful opportunities which can potentially yield significant tax savings, strengthen one’s financial preparedness and help ensure alignment with long-term goals.

The Federal Reserve continued to cut the Fed Funds rate in October, further reducing the target by 0.25%. U.S. equity markets were generally positive in the month, with large cap equities besting small cap, and U.S. equity REITs declined, underperforming most asset classes.

While the economy appears steady, cracks are emerging in the labor market. The Fed cut rates by 25 basis points in September, lowering the target range to 4.00–4.25% after nearly a year-long pause. Global markets outside the U.S. have surged this year, with standout performers such as China and Korea delivering returns of more than 50% year-to-date, and small caps stole the spotlight in the third quarter, beating large caps by more than 4% as measured by the Russell 2000 versus the S&P 500.

The FOMC reduced the Fed Funds Rate by 25 basis points in September, the first cut since December 2024. U.S. equities moved higher in the month, and REITs were modestly positive in September but trailed the broader equity market.

Over the next two decades, an estimated $84 trillion in wealth will move from Baby Boomers and Generation X to their heirs and charities. Of that amount, more than $72 trillion will go directly to beneficiaries. While this unprecedented shift presents opportunities, it also highlights risks.

Declining interest rates were a tailwind for fixed income assets during August. U.S. equity markets rallied and U.S. equity REITs posted favorable results in August.

It was a negative month for Core Bonds. Markets have come a long way since “Liberation Day” as some of the fog around trade policy lifted with notable agreements being made with Europe and Japan during July, and rising interest rates put negative pressure on REITs.

Tariffs and trade policy jump started the quarter, but fiscal policy came to the forefront as the Trump administration announced the “Big Beautiful Bill.” The Federal Reserve held its policy rate steady during the quarter as it balances inflation and labor market data signals. The U.S. dollar is still relatively strong, and oil is priced similarly to times when inflation is near 2.5 percent.

Core bonds were positive for the month. Equities gained on improved clarity around trade and investor optimism about future policy support, and U.S. equity REITs were among the few asset classes to decline during the month as investors rotated away from data centers and residential housing.

We are honored to be named as one of Atlanta’s Largest Life Insurance Agencies by the Atlanta Business Chronicle for the fourth year in a row. We’d like to especially thank all of our partners, staff, and advisors who have been instrumental in our growth and success.

Core fixed income struggled in May as markets digested the long-term impacts of the budget deficit, the downgrade of the U.S. by Moody’s, and the ongoing and ever evolving trade policy. U.S. equity markets rebounded in May as trade tensions eased from the initial April announcements, and despite rising interest rates, U.S. REITs benefited from the broader rise in equity markets and more optimism surrounding the global economy.

It was another volatile month for interest rates as investors continued to digest the potential impact of foreign policy on future inflation and growth. “Liberation Day” marked an extreme shift in U.S. trade policy as the administration implemented 10% universal tariffs, and U.S. equity REITs declined and underperformed the broader equity market.

Markets shifted tone, and investors grew more anxious of the current economic environment as foreign trade policy took hold with the Trump administration’s announcement of a 10% universal tariff and additional tariffs on various countries. The Fed’s economic projections have softened from its pre-election views in 2024, as the board of governors digests sticky inflation and increasing uncertainty in the labor market. International equities outpaced domestic by a substantial margin during the quarter as fragile markets began to crack and elevated valuations and heavy index concentration laid the groundwork for heightened market volatility.

Interest rates were volatile during the month as markets digested growing concerns about the economic backdrop and the outlook for inflation. U.S. equity markets declined in March, and U.S. equity REITs declined as the broader equity market sold off.