CFAMichael Gates

Alternative assets (alts) can be complementary to traditional stocks and bonds, but selection should carefully consider the portfolio’s objective Artificial intelligence (AI) has become a structural force with benefits spreading beyond early winners Heightened uncertainty may raise flags but doesn’t always call for outright de-risking We recently surveyed our top clients to hear what’s on their minds, in preparation for our annual Asset Allocation Forum.

1. Source: MMD as of 13 May 2026 2. Source: Bloomberg as of 31 December 2025 3. Source: BlackRock as of 31 December 2025 4. Source: BlackRock as of 31 December 2025 5. Source: Western Interstate Commission for Higher Education, Knocking at the College Door, Projections of High School Graduates, December 2024 as of 31 December 2025 6. Source: College Board, Trends in College Pricing and Student Aid 2024, Fall 2023 Enrollment data as of 31 October 2024 7.

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