Latest news with #SavvyAdvisors
Yahoo
03-07-2025
- Business
- Yahoo
Digital platform Savvy Wealth secures $72m in series B funding
Savvy Wealth, a digital platform aimed at modernising human-centric financial advice, has raised $72m in a Series B funding round led by Industry Ventures, a venture capital firm. This round also welcomed new investors, including Vestigo Ventures, founded by former LPL Financial CEO Mark Casady, who will join Savvy's board of directors, and Euclidean Capital. Existing investors such as Canvas Ventures, Thrive Capital, The House Fund, Brewer Lane Ventures, and former Focus Financial executive Vamsi Yadlapati also participated, bringing Savvy's total capital raised to over $100m. It completed its Series A round in August 2024. Industry Ventures managing director Brian Langner said: 'The growing tailwinds for digital transformation and generative AI, paired with Ritik's experience and grit as a technology entrepreneur, is a perfect fit for our mandate at Industry Ventures.' Savvy plans to utilise the new funds to enhance its core technology, recruit top technical talent, and expand its network of independent advisors through its affiliate, Savvy Advisors. Additionally, the firm aims to accelerate the development of AI tools to create personalised client knowledge bases, delivering predictive insights tailored to individual financial needs. Savvy has added nearly $500m to its assets under management (AUM) in 2025 so far, marking a 500% increase since early 2024. The firm has also strengthened its leadership team with key appointments, including Eric Hurkman as chief technology officer, David Weiner as chief growth officer, and Lisandra Wilmott as head of legal and compliance. Savvy Wealth founder and CEO Ritik Malhotra said: 'AI is disrupting financial advice, but not in the way that many have predicted. Rather than replacing advisors, it's amplifying their ability to deliver highly personalised and deeply human client experiences.' With AUM now exceeding $2bn, Savvy Wealth continues to refine its offerings for high-net-worth clients, including personalised investment management, 401(k) account management, estate planning, financial planning, tax preparation, high-yield cash management, alternative investments, and insurance. "Digital platform Savvy Wealth secures $72m in series B funding" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
CBS News
14-05-2025
- Business
- CBS News
Investing in gold now? Here are 4 expert-driven strategies to use.
We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. Investing in gold requires a strategic approach, particularly in today's unique economic climate. Getty Images The price of gold has seen a notable increase in recent years as investors turn to the precious metal during a period of high volatility. With ongoing economic uncertainty, global and political instability, and lingering inflation, investors are flocking to this time-tested safe-haven asset. The price of gold per ounce now is hovering close to $3,300. Gold investing can provide portfolio diversification and more stability when the markets are particularly unpredictable. While adding gold to your portfolio can be a worthwhile addition, it's key to have a strategy. We spoke to various gold experts and financial professionals about smart gold investing strategies to consider in the current economic climate. Below, we'll break down four approaches they recommend investors take now. Start protecting your portfolio with gold here. Expert-driven gold investing strategies to use right now Whether you want to start investing in gold or already have some in your portfolio, here are four strategies to use now: Consider gold's price in context Gold is having a banner year. "This year, gold's performance year to date is off the charts," says Joshua Barone, wealth manager at Savvy Advisors. The gold price started this year close to $2,650 per ounce, while the price of gold today is now around $3,300, representing more than a 20% increase. A gold price rise of this level is eye-popping, but isn't necessarily typical. It's important to understand the historical performance of gold. If you're getting started with gold investing, don't expect this to be the norm. But if you're also timid about jumping in with prices so high, consider it in context. "If you're buying gold today, that can be a little scary. But the fundamentals of it are highly in place and suggest that it can go higher from here," says Barone. "And those fundamentals being that you're seeing huge purchases from foreign central banks, banks like India and China…In times of stress and uncertainty, it tends to be a bastion of safety." For those who feel that the high costs are a barrier and are waiting for a gold price drop, there are alternatives you can look into. For example, gold mining stocks. "If you're worried about the price of gold, then you can shift to buying gold mining companies," says Barone. Explore your gold investing options online to learn more. Understand the different gold investment types In today's gold investment market, you have various options to choose from if you want to invest in gold. While this flexibility can be appealing, it's important to be aware of the pros and cons of each. In addition, understanding the nuances of each gold type as an investment. For example, physical gold bars and gold coins give you direct ownership. But you also need to consider how you're going to store gold, look into insuring it and have a strategy. "As a previous financial adviser with almost 30 years of experience, I would always advise owning physical gold with a longer-term time horizon to manage any short-term volatility," says Paul Williams, managing director at Solomon Global and a specialist in the supply of physical gold bars and coins. "With physical gold, a 'buy and hold' strategy is often adopted as the asset is used as a long-term store of wealth," says Williams. "ETFs, on the other hand, can be used to gain short-term exposure to gold prices and to respond to market events. As such, ETFs tend to be more susceptible to market volatility than physical gold." If you're interested in gold investing, but don't want to deal with storage or insurance, gold ETFs can be an alternative to look into. Just be aware of the differences and the risks. "Our strategy has been to position gold in people's portfolios. We've been doing that with ETFs," says Barone. Look at liquidity For years, gold has shown it has staying power and provides numerous benefits to investors. "Gold is an effective hedge for the average portfolio that is weighted towards equities and bonds. Historically, it has acted as a hedge against inflation and tends to do well during periods of times of economic and geopolitical uncertainty," says John Berman, founder and chief investment officer of Berman Capital Group LLC, an investment management company. As an investment, though, it's essential to look at liquidity. "For the average investor looking for gold exposure, a physical gold ETF is likely the best option," says Berman. This can be a lower barrier to entry and gives you the option to buy or sell in the market fairly easily. Berman mentions that gold bars and coins "will be a less liquid investment and require more logistical complexity in storing them, where to source them, and how to sell them." Be tax aware Barone says it's important for gold investors to be tax aware and to understand how their gold investments are taxed. For example, physical gold is considered a collectible in the eyes of the IRS. Barone notes that physical gold can be taxed at the maximum collectibles rate of 28% for long-term capital gains. However, the IRS also includes some exceptions, including certain coins and bullion of a specific fineness that are held by a bank or approved trustee. Still, that's higher than the typical long-term capital gains rate, which caps out at 20%. It's important to understand how gold bars, gold ETFs, and gold stocks may be taxed. You can also look into a gold individual retirement according (IRA), which can provide some tax benefits. Learn more about investing in a gold IRA here. The bottom line Ongoing inflation and economic uncertainty led the Federal Reserve to keep the federal funds rate unchanged after its May meeting, leading to elevated interest rates. During times like this, investing in gold can provide diversification and may protect against the negative effects of inflation. To make the most out of your investment, understand potential tax consequences, the different forms of ownership and how you plan to include gold in your portfolio.
Yahoo
16-02-2025
- Business
- Yahoo
Eureka! VanEck's Gold Miner ETF Outshines GLD, SPY
The SPDR Gold Trust ETF (GLD), coming off a solid year that included outperforming the SPDR S&P 500 ETF Trust (SPY) by nearly 2 percentage points, continues to gain appeal among investors and financial advisors as the go-to strategy against a backdrop of high equity prices and geopolitical uncertainty. But a quick look past the precious metal to gold miners suggests an even more exciting ride for investors willing to buckle in for the ride. The $14.5 billion VanEck Gold Miners ETF (GDX), which gained 10.6% last year, trailed both SPY's 24.9% gain and GLD's 26.7% gain. But the early momentum in 2025 goes to the mining companies. GDX has gained 24.3% from the start of the year, compared to 3% for SPY and a still impressive 10.6% for GLD. According to data, GDX is on this run despite $1.1 billion worth of net outflows over the past month. The $81 billion GLD has had $650 million worth of outflows over the past month. Drew Martino, wealth manager at Savvy Advisors in Calabasas, California, attributed the rising price of gold to a 'confluence of factors occurring simultaneously.' Among the factors is the Trump administration's ongoing tariff threats. 'Tariffs can lead to inflation, and tend to benefit gold,' Martino said. 'Experts anticipate a slight increase in inflation in 2025 due to potential tariffs.' On top of that, Martino pointed to mortgage rates coming off their 2023 highs as being 'favorable for gold prices.' The price of gold closed at $2,945.40 an ounce Thursday, which is down slightly from the all-time high of $2,953 an ounce set Feb. 10. But the outlook remains bullish, according to Paul Schatz, president of Heritage Capital in Woodbridge, Connecticut. 'The current rally in gold and the (mining) stocks seems more pure than the last one because the stocks are leading,' he said. 'In other words, when the stocks lead, investors are accepting more risk and not positioning as a defensive play.' The bullish indicator, Schatz explained, is because 'mining companies are mostly levered to the metal so when stocks lead, investors think there is real demand versus hiding in gold for safety.' Martino also sees the momentum continuing. 'Widespread belief in a gold price rise can lead to increased buying, further driving up the price,' he | © Copyright 2025 All rights reserved Sign in to access your portfolio
Yahoo
14-02-2025
- Business
- Yahoo
Eureka! VanEck's Gold Miner ETF Outshines GLD, SPY
The SPDR Gold Trust ETF (GLD), coming off a solid year that included outperforming the SPDR S&P 500 ETF Trust (SPY) by nearly 2 percentage points, continues to gain appeal among investors and financial advisors as the go-to strategy against a backdrop of high equity prices and geopolitical uncertainty. But a quick look past the precious metal to gold miners suggests an even more exciting ride for investors willing to buckle in for the ride. The $14.5 billion VanEck Gold Miners ETF (GDX), which gained 10.6% last year, trailed both SPY's 24.9% gain and GLD's 26.7% gain. But the early momentum in 2025 goes to the mining companies. GDX has gained 24.3% from the start of the year, compared to 3% for SPY and a still impressive 10.6% for GLD. According to data, GDX is on this run despite $1.1 billion worth of net outflows over the past month. The $81 billion GLD has had $650 million worth of outflows over the past month. Drew Martino, wealth manager at Savvy Advisors in Calabasas, California, attributed the rising price of gold to a 'confluence of factors occurring simultaneously.' Among the factors is the Trump administration's ongoing tariff threats. 'Tariffs can lead to inflation, and tend to benefit gold,' Martino said. 'Experts anticipate a slight increase in inflation in 2025 due to potential tariffs.' On top of that, Martino pointed to mortgage rates coming off their 2023 highs as being 'favorable for gold prices.' The price of gold closed at $2,945.40 an ounce Thursday, which is down slightly from the all-time high of $2,953 an ounce set Feb. 10. But the outlook remains bullish, according to Paul Schatz, president of Heritage Capital in Woodbridge, Connecticut. 'The current rally in gold and the (mining) stocks seems more pure than the last one because the stocks are leading,' he said. 'In other words, when the stocks lead, investors are accepting more risk and not positioning as a defensive play.' The bullish indicator, Schatz explained, is because 'mining companies are mostly levered to the metal so when stocks lead, investors think there is real demand versus hiding in gold for safety.' Martino also sees the momentum continuing. 'Widespread belief in a gold price rise can lead to increased buying, further driving up the price,' he | © Copyright 2025 All rights reserved Sign in to access your portfolio
