By Asset Allocator Journal Staff
As reported in Business Matters, about 3.6 million UK households—over 40% of mortgage holders—are expected to face higher monthly payments as fixed-rate deals expire. The Bank of England notes that 30% of homeowners have not refinanced since rates began rising in 2021, leaving them exposed to increased costs. However, 2.5 million households, including 1.5 million on variable rates, could see repayments fall by June 2028 if rates decline.
WealthManagement.com reports that the IRS has launched its 10th annual “Protect Your Clients; Protect Yourself” campaign to fight tax-related identity theft. The initiative educates tax professionals about new scams, encourages security measures like multi-factor authentication, and stresses prompt breach reporting. A series of news releases and resources are provided to help safeguard taxpayer data.
Advisor Perspectives highlights Wall Street’s introduction of the S&P 500 No Dividend Target ETF from Roundhill Investments, launching July 10, which aims to replicate the S&P 500’s performance while avoiding dividend payouts. The fund sells stocks before their ex-dividend dates, minimizing taxable income for investors. This strategy appeals to those seeking S&P 500 exposure without the tax burden of dividends.
Business Matters reports that Christian Horner has been dismissed as Red Bull Racing’s team principal after 19 years, a tenure that included six constructors’ and eight drivers’ championships. Laurent Mekies, formerly of Racing Bulls, will take over the role immediately. While no official reason was given, speculation points to an earlier internal scandal and recent performance issues.
In WealthManagement.com, Lee Korn of Opal Wealth Advisors stresses the importance of aligning financial planning with clients’ values and goals as AI transforms the industry. He advocates for a purpose-driven approach that uses technology to enhance, not replace, the human element. Advisors can deliver more meaningful guidance by focusing on unique aspirations and leveraging AI for efficiency.
Advisor Perspectives reports that artificial intelligence stocks delivered strong gains in the second quarter, fueled by widespread adoption of AI technologies across multiple sectors. This surge in AI investments played a key role in driving robust market returns, even as the broader economy remained steady. The growing impact of AI is increasingly shaping financial markets and supporting ongoing economic momentum.
Business Matters reveals that the UK Government has partnered with Google Cloud to modernize public services, replacing outdated IT systems and training up to 100,000 civil servants in new technologies by 2030. The initiative aims to phase out legacy infrastructure, boost cybersecurity, and save an estimated £45 billion. Google DeepMind will also work with government scientists to explore AI applications in the public sector.
WealthManagement.com announces that LinePoint Partners has named James Chirdo as Chief Operating Officer and Chief Compliance Officer. Chirdo, who previously led wealth management operations at Rockefeller Capital Management, brings significant expertise to the firm. This appointment highlights LinePoint’s commitment to strengthening its family office platform for ultra-high-net-worth advisors and single-family office executives.
