Elliot Smither

London

Chief Sub Editor and Senior Writer at Professional Wealth Management

Financial journalist @FT_PWM, Everton fan, history nerd, cricket enthusiast and rugby nut to boot

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Articles

US tech titans prepare for AI arms race

1 day ago | pwmnet.com | Elliot Smither

The largest US tech firms, currently accelerating their AI infrastructure buildout, may also be the best insulated from geopolitical supply chain shifts and trade disputes. After a subdued start to 2025, the biggest names in US technology may be on the cusp of yet another period of outperformance. Despite a lag in returns year-to-date, the sector has quietly reloaded, adjusted its valuations, and is showing signs that it is preparing to lead again, this time with more sustainable momentum.
Wealth transfer requires steep rise in investor knowledge

4 days ago | pwmnet.com | Elliot Smither

With the great wealth transfer underway, asset and wealth managers must raise awareness of the key principles of investing. The much-trumpeted intergenerational transfer of wealth between the post-War ‘Baby Boomers’ and their heirs is now in progress, estimated at $100tn by Cerulli Associates. The main beneficiaries will be Generation X (born 1965-80) and Generation Y (1981-94). Their rise coincides with a concerted push to convert savers into investors.
Saudi’s vision 2030: 5 years to go

5 days ago | pwmnet.com | Elliot Smither

With five years to go until the realisation of the kingdom of Saudi Arabia’s Vision 2030, how has the ambitious project attracted private wealth and family offices? With Vision 2030 expanding opportunities for investment in everything from clean tech to tourism, how have the wealthy of the ME responded to what’s on offer and taken the chance to diversify portfolios and holdings?
Fund Selection — June 2025 - Professional Wealth Management

1 week ago | pwmnet.com | Elliot Smither

Each month in PWM, eight top European asset allocators reveal how they would spend €100,000 in a fund supermarket for a fairly conservative client with a balanced strategy. Benjamin HamidiSenior portfolio manager, ABN AMRO Investment Solutions. Based in: Paris, France“The economic situation has been underpinned by the robustness of consumption and the labour market inherited from the ‘pre-liberation day period’.
Sustainable investing at the crossroads

1 week ago | pwmnet.com | Elliot Smither

As political winds shift and billions exit ESG funds, sustainable investing stands at a decisive turning point. Sustainable investing is facing its toughest test yet. After years of rapid expansion, funds focused on environmental, social and governance (ESG) factors are seeing significant outflows, as political pushback, regulatory uncertainty and investor fatigue prompt a reassessment of these strategies.
Tesla’s wild ride: Musk, AI and the trillion-dollar bet

1 week ago | pwmnet.com | Elliot Smither

While Tesla’s fortunes in the fast-moving world of electric vehicles are tied to the public persona of Elon Musk, they also depend on maintaining advantage against Chinese rivals. Tesla’s story for the past few years reads like a rollercoaster, driven as much by Elon Musk’s strategic gambits and public persona as by underlying business fundamentals. That would usually be a sign to run for the hills, but Elon Musk is a once-in-a-generation business leader.
Navigating the trade policy ‘air pocket’

2 weeks ago | pwmnet.com | Elliot Smither

Market volatility created by US trade policy is unlikely to go away, so investors need to take a global view of markets, keeping an eye on emerging stories including India. The global economy may be headed for an ‘air pocket’ — a period when the drag from tariffs sets in before any potential policy offsets, such as tax cuts or deregulation, have time to take effect. The coming months will test the resilience of post-pandemic expansion.
Investors need a new approach to safe havens

2 weeks ago | pwmnet.com | Elliot Smither

Since the 1950s, the wealth management world has embraced a strict and ‘efficient’ allocation between equities and bonds, but recent events have changed the formula. The market volatility of recent months has left many investors realising their portfolios are less diversified than they might once have thought.
Strategy as well as size will shape asset manager M&A

2 weeks ago | pwmnet.com | Elliot Smither

Investment bosses talk about integrating private and public market capabilities, but this requires redrawing distribution models, client engagement strategies and operational infrastructure. The asset management industry is in the midst of significant transformation. Fee pressure, regulatory demands and technological shifts are reshaping the landscape, while changing investor preferences are challenging many traditional business models.
Riders on the storm: managing wealth through turbulence

3 weeks ago | pwmnet.com | Elliot Smither

Many investment firms talk about diversification of assets, but it is vital to also keep a keen eye on exposure to currencies. In a world of extremes, holding on to wealth appears super-complicated and, like a bucking bronco, delivers a wild and uncomfortable ride. So how did we get here? The 2020s thus far have been defined by a sense that, in the words of William Butler Yeats from his 1919 apocalyptic poem The Second Coming, “the centre cannot hold”.