Griffin Kelly, The Daily Upside Journalist Profile

Articles

Is the Great Wealth Transfer Really All That Great?

1 week ago | thedailyupside.com | Griffin Kelly

It might be better to just call it, “The Wealth Transfer.”While Americans are set to inherit a lot of money over the next two-plus decades, the impact of the Great Wealth Transfer might not be as monumental as originally expected. At the end of last year, Cerulli forecast $124 trillion would be passed down to heirs and charities through 2048. While some in the wealth industry agree with that figure, others believe it’s way off. How off? Try about $107 trillion.
Solid Wall Street Earnings Come with a Tariff Asterisk

1 week ago | thedailyupside.com | Griffin Kelly

What a wild way to kick off Q2. Earnings reports from major financial institutions are generally a good barometer of the economy’s health. However, the Trump administration’s tariff policy sent equity markets nosediving in recent weeks, just as earnings season was getting underway for many firms. The latest results from Wall Street’s biggest names are already starting to feel like ancient history. Plus, uncertainty was a common theme in CEOs’ messages to shareholders.
ETF Closures Could Tick Up in Volatile Markets

1 week ago | thedailyupside.com | Griffin Kelly

You don’t have to go home, but you can’t stay here. With a possible global trade war looming and recession fears swirling, the ETF industry may be facing an uptick in fund closures in the coming months. While giant funds from household names like BlackRock, Vanguard, and State Street may benefit from uncertain markets, recently launched products are at a higher risk of folding.
Are Financial Advisors Expecting a Recession?

2 weeks ago | thedailyupside.com | Griffin Kelly

The hope was for the economy to come in for a soft landing, but now it feels like it just lost an engine. Fears of a recession are on the rise after last week’s tariffs sent equity markets plummeting. Leaders from the industry’s largest wealth management firms are now saying a recession is fully on the table, with analysts from Goldman Sachs predicting a 45% chance of a recession occurring in the next 12 months.
Becoming a Pro Athlete Is Hard Work. So Is Managing Their Finances.

2 weeks ago | thedailyupside.com | Griffin Kelly

It may sound like a cliched line from SportsCenter, but athletes are just built differently — especially when it comes to their finances. Professional athletes earn their wealth very quickly and at young ages, and they sometimes spend it even faster. Their careers can also end before they know it.
Wealthtech Booms as Ethic Lands $64M in Funding

2 weeks ago | thedailyupside.com | Griffin Kelly

Wealthtech funding is heating up, and a global market meltdown may simply add fuel to the fire. Worldwide, the total wealthtech market is expected to reach almost $9.5 billion by 2028, according to data from Research and Markets. The latest example of firms cashing in on that demand is ‘asset management platform Ethic, which closed a $64 million round last week.
Can Gold Help Weather a Downturn? Maybe

2 weeks ago | thedailyupside.com | Griffin Kelly

Clients might want a bit of that Midas touch after last week. Gold is one of the most precious metals on Earth, but given the volatile financial markets as of late, element No. 79 on the Periodic Table is looking even more appealing. The sweeping tariffs that were announced by the US on April 2 rocked equity markets and left many clients feeling a bit uneasy about their portfolios. But gold hit an all time high of more than $3,100 per ounce last week.
RIAS are Worth More Than Ever

3 weeks ago | thedailyupside.com | Griffin Kelly

RIAs are worth money — like, a lot of money. Last year, the RIA industry not only saw a record volume of deals with 239 transactions, but median valuation multiples on earnings before interest, taxes, depreciation, and amortization (EBITDA) also increased to a record of 11x, up from 9.9x in 2023 and a new high going back nearly a decade, according to Advisor Growth Strategies. What do all those integers and variables that look straight out of high school algebra class mean?
What LPL’s Massive $2.7B Commonwealth Deal Means for Advisors

3 weeks ago | thedailyupside.com | Griffin Kelly

LPL Financial is known for big deals. They may have outdone themselves this time. The largest independent broker-dealer in the US announced Monday that it will acquire Commonwealth Financial Network in a $2.7 billion all-cash deal, marking one of its biggest acquisitions ever in an increasingly competitive independent broker-dealer industry.
CFP Board May Ease Rules on Prior Bankruptcy, Alcohol, Drug Charges

3 weeks ago | thedailyupside.com | Griffin Kelly

The CFP Board is looking to let bygones be bygones. The organization that oversees the Certified Financial Planner designation is considering easing the rules regarding when applicants must have a formal hearing with the organization’s Disciplinary and Ethics Commission. The potential changes would relate to past bankruptcies, as well as alcohol and drug offenses.