Neither of those financial advisers sounded suitable: one had exorbitant fees, which gives me pause about this ethical considerations, and the other insisted you invest 100% of your savings, which also strikes me as aggressive and inappropriate, and also makes me wonder what would have happened if you had handed over your life savings to this man.I have a modest lifestyle with my wife. We do not take out-of-country or five-star vacations. Instead, we enjoy time with family and friends and hobbies, and two t ...

Core Insights - Average investors may experience lower returns than expected, with a Morningstar study indicating a 15% loss in returns over 10 years, where investments in ETFs and mutual funds yielded 6.3% annually compared to the funds' 7.3% return [1][2] Group 1: Investment Performance - The gap between investor returns and fund performance highlights significant lost income potential over time [2] - Investors who opt for volatile stocks, mutual funds, and ETFs are less likely to realize the full potential of their investments due to increased trading frequency and associated fees [3][4] Group 2: Investment Strategy - A hands-off, buy-and-hold investment strategy generally results in smaller performance gaps compared to frequent trading [5][6] - Emotional and discretionary trading can significantly diminish long-term gains, with data showing that missing the market's 10 best days over 30 years could halve returns [6] - Adjusting holdings to include more stable investments can facilitate a hands-off approach, making it easier to endure market fluctuations [7]

Group 1: ETF Market Developments - Dimensional Funds became the first asset manager to gain approval for an ETF share class of an actively managed mutual fund, indicating a potential trend for other asset managers to follow in 2026 [2] - The Invesco QQQ Trust initiated the approval process to convert from a Unit Investment Trust structure to a more flexible open-end fund, which has been approved [4] - Active ETFs saw tremendous growth, gathering over $400 billion in the first eleven months of 2025, representing approximately one-third of total ETF assets [10] Group 2: Investment Trends and Strategies - Dividend ETFs attracted significant interest, capturing $21 billion of net inflows year-to-date through November, indicating a strong demand for resilient income amidst falling bond yields [4] - The article compared sector exposure differences between popular dividend ETFs, such as the Vanguard Dividend Appreciation ETF (VIG) and the Schwab US Dividend Equity ETF (SCHD) [4] - Innovative, options-based ETFs were highlighted as key risk-mitigation tools during market sell-offs, providing diversification options for investors [5] Group 3: Notable ETF Products - The Avantis suite of ETFs, part of the American Century suite, crossed $100 billion in assets, with funds like the Avantis US Small Cap Value ETF (AVUV) and the Avantis International Emerging Markets ETF (AVEM) being recognized as versatile building blocks for asset allocation [11]

The Securities and Exchange Commission finally brought dual share classes to the masses … some of them, anyway. The SEC announced last week that it will allow dozens of issuers to offer ETF share classes of mutual funds and vice versa, so long as the SEC doesn’t order hearings against the applications. The move is the agency’s first announcement on the topic since November, when it approved Dimensional Fund Advisors’s proposal. Despite being largely expected, experts said the decision underscores the ongo ...

Core Insights - AGF Management Limited reported total assets under management (AUM) and fee-earning assets of $60.4 billion as of November 30, 2025, reflecting a 12.7% year-over-year increase [1][2]. AUM Breakdown - Total Mutual Fund AUM remained stable at $35.0 billion from October to November 2025, up from $30.7 billion in November 2024 [2][4]. - Exchange-traded funds and separately managed accounts increased to $4.1 billion in November 2025 from $3.9 billion in October 2025 and $2.5 billion in November 2024 [2]. - Segregated accounts and sub-advisory assets rose to $7.2 billion in November 2025, consistent with October 2025 and up from $7.0 billion in November 2024 [2]. - AGF Private Wealth AUM increased to $9.5 billion in November 2025 from $9.4 billion in October 2025 and $8.5 billion in November 2024 [2]. AGF Capital Partners - AGF Capital Partners AUM remained stable at $2.5 billion in November 2025, unchanged from October 2025 but down from $2.8 billion in November 2024 [4]. - Fee-earning assets for AGF Capital Partners were reported at $2.1 billion, consistent across the months and year [4]. Mutual Fund AUM by Category - Domestic Equity Funds AUM increased to $4.7 billion in November 2025 from $4.6 billion in October 2025 and remained the same as November 2024 [3]. - U.S. and International Equity Funds AUM slightly decreased to $22.7 billion in November 2025 from $22.8 billion in October 2025, up from $19.0 billion in November 2024 [3]. - Domestic Fixed Income Funds AUM remained stable at $2.3 billion in November 2025, up from $1.8 billion in November 2024 [3]. Company Overview - AGF Management Limited, founded in 1957, is an independent and globally diverse asset management firm with operations in North America and Europe [5][7]. - The firm serves over 815,000 investors and trades on the Toronto Stock Exchange under the symbol AGF.B [7].

Brittany Christensen, senior vice president of head of business development at Tidal Financial Group, speaks to Bloomberg's Katie Greifeld and Eric Balchunas on "Bloomberg ETF IQ". They discuss ETF launches, mutual fund conversions and increased staffing levels at Tidal. ...

Core Viewpoint - The current market environment is characterized by a transition into a new cycle, driven by recent Federal Reserve rate cuts and a shift in market leadership towards emerging markets and real assets, suggesting a need for portfolio evolution away from large-cap tech stocks [1][2]. ETF Market Trends - The ETF industry has experienced record inflows, with $1.2 trillion in inflows this year, while mutual funds have seen $1 trillion in outflows, indicating a significant shift in investor preference towards ETFs [1][2]. - Over 900 new ETFs have been launched this year, reflecting ongoing innovation and growth within the ETF space [1]. Investment Strategies - Investors are advised to diversify their portfolios by including asset classes and sectors that benefit from higher inflation, such as gold, which is up 54% year-to-date, and emerging markets, which are also up 27% [1][2]. - Leveraged ETFs are gaining popularity, but caution is advised due to their complexity and the high costs associated with accessing leverage, which can lead to underperformance compared to benchmarks [1][2]. Market Performance Insights - The S&P 500 has been outperformed by sectors such as industrials and banks, which have seen gains of 16% and 19% respectively, compared to the S&P's 12% increase [1]. - The weakening dollar has been identified as a catalyst for non-U.S. markets outperforming the U.S., with historical trends showing that a weaker dollar typically benefits gold and emerging markets [2]. Future Outlook - The ETF industry is expected to continue its growth trajectory, with predictions of more crypto-related ETF launches and innovations in share class structures that could further drive flows from mutual funds to ETFs [9][12]. - The complexity of the ETF market is increasing, necessitating more due diligence from investors as new products are introduced [11].

Core Viewpoint - The approval of dual share classes represents a significant change in the fund industry, but it faces challenges due to incompatible settlement processes established at different times [1][2][3]. Group 1: Dual Share Classes Approval - The Securities and Exchange Commission has approved dual share classes for Dimensional Fund Advisors, with other companies likely to follow suit [4]. - This approval allows some mutual funds to add ETF share classes, enabling investors to exchange shares between the two types [4]. Group 2: Settlement Process Challenges - The settlement processes for mutual funds and ETFs were not designed to work together, complicating trades for intermediaries [2][3]. - An analogy is drawn to the Apollo 13 mission, highlighting the difficulties of integrating systems built by different manufacturers [2][3]. Group 3: Considerations for Intermediaries - Intermediaries must consider how dual share classes will impact investor suitability and fiduciary responsibilities under Regulation Best Interest [4]. - There are implications for compensation structures, including revenue sharing and 12b-1 payments, as well as the integration of dual share class funds into product lineups [4].

Core Insights - The SEC has approved Dimensional Fund Advisors to offer exchange-traded fund (ETF) share classes alongside traditional mutual fund shares, making it the second asset manager to secure this capability after Vanguard [1][2] - Dimensional is the first firm to apply this hybrid model to actively managed products, which could enhance its competitive position in the market [2][4] - The approval may lead to a broader trend of hybrid fund structures across the asset management industry, with nearly ninety other firms awaiting similar approvals [4][5] Group 1: SEC Approval and Hybrid Model - The SEC's order grants Dimensional exemptions from several provisions of the Investment Company Act of 1940, allowing for the operation of both ETF and mutual fund classes within the same fund structure [3][2] - The hybrid model enables asset managers to offer lower-cost ETF shares alongside traditional mutual fund shares, potentially attracting investors seeking tax efficiency and intraday trading [6] Group 2: Competitive Landscape - Vanguard pioneered the hybrid structure but primarily focuses on passive index funds, while Dimensional's approval extends this framework into active management, where higher fees and differentiation are typical [5] - James Seyffart from Bloomberg Intelligence predicts an imminent surge of approvals for firms awaiting similar authorizations, indicating a shift in the competitive landscape [5] Group 3: Solana ETF Market - VanEck launched the third U.S. Solana staking ETF, entering a competitive field where Bitwise and Grayscale have captured over $380 million since late October [7] - Fidelity is set to debut its Solana ETF on November 19, with a competitive fee structure, highlighting the scale advantage of larger asset managers in this category [8]

Core Viewpoint - Nasdaq Inc. is preparing for a significant increase in ETF listings following the SEC's approval for asset managers to offer ETFs as share classes of existing mutual funds, which could lead to hundreds of new listings in the $13 trillion US ETF market [1][2]. Group 1: Nasdaq's Strategic Moves - Nasdaq is actively hiring to enhance its capabilities in anticipation of the upcoming wave of ETF listings, focusing on both the exchange-traded product group and the legal and compliance sectors [3]. - The exchange has recently appointed Kristian D'Agostino as senior director of ETFs to strengthen its team and ensure efficiency in the listing process [3]. Group 2: Market Context and Challenges - The SEC's recent decision is seen as a pivotal moment in asset management, with approximately 80 competitors also seeking approval to create ETF share classes [2]. - Concerns have been raised regarding the technical challenges of implementing this new structure, with experts suggesting that launching a successful ETF strategy may not be straightforward and could strain the market-making ecosystem [4].