Investors are riding high into the homestretch of 2025 on a stock market that refuses to quit. Despite all the political and economic uncertainty over the course of the year, the S&P 500, powered by the Magnificent 7, is up over 16% year-to-date.
And that’s got financial advisors busy in these final few months of the year making sure they can safely get their clients to the year-end finish line.
For example, given the significant growth of risk assets this year, wealth managers say they are busy ensuring client portfolios are appropriately balanced going into 2026. This includes maintaining adequate income levels in a declining interest rate environment while still searching for exceptional public and private equity opportunities.
"This is a great time to assess each family’s objectives, ensure we are up to date on any estate tax exemptions a family may still have, and prepare for year-end charitable gifts," said Ryan Singer, senior client advisor at Caprock. “Most assets have grown significantly across public and private markets this year, which makes this a great time for advisors to be using highly appreciated assets to meet the charitable needs of the families they work with.”
And while economic uncertainty seemed to be a staple of 2025, Singer says the key to financial planning during this – or any - time of year is centered around building diversified, long-term portfolios that can weather any economic environment.
“It is our duty to ensure we are always looking for the best investment opportunities across public and private markets. It is why we strive to maintain a very low client-to-advisor ratio so we can spend ample time with each family to build a plan together,” Singer said, adding that Caprock crafts portfolios for each client’s specific needs as opposed to utilizing models.
Dylan Brennan, president and CEO of Brennan & Company, says this season he is emphasizing “balance sheet readiness,” which includes reviewing liquidity, debt structure, and portfolio allocations to ensure flexibility in 2026. Furthermore, he says he’s assessing cash reserves, charitable giving strategies, Roth conversions before potential sunsets, and business-owner planning tied to the One Big Beautiful Bill Act provisions for clients, in addition to annual tax-harvesting.
“Persistent inflation, uneven market performance, and interest-rate volatility have changed the tone of planning. Clients are more focused on cash flow predictability and downside protection than on chasing growth,” Brennan said.
Additionally, being positioned for a market correction is essential, in his opinion.
“Trimming equity positions and developing a war chest of cash ready to pounce is crucial. Right now, I don’t think there’s anything broken in terms of the economy, but perhaps more uncertainty than the usual walk in the park,” Brennan said.
Along similar lines, Christopher Hobaica, vice president and wealth advisor with World Investment Advisors, says one of his key priorities - particularly for clients who are retired or drawing from their investment portfolios - is to assess their anticipated income needs for 2026. Given the ongoing volatility and uncertainty in both equity and fixed income markets, he is positioning client accounts to meet next year’s income requirements by allocating a portion of their funds to high-yield money markets or ultra-short-term fixed income investments.
“While this approach may slightly reduce potential returns, we view it as a prudent insurance policy that helps safeguard against market fluctuations and ensures that near-term income needs are met with confidence,” Hobaica said.
Sean Hanlon, co-founder and Wealth Advisor with VestGen, notes that while there is political uncertainty – as exemplified by the government shutdown – making some clients uneasy and driving significant media coverage, there isn’t much data that requires him to change his approach in how he plans for clients.
“Of course, everyone’s situation is different, and cash flow must be assessed regularly. But that has nothing to do with any perceived instability in the market or general economy,” Hanlon said.
In terms of conversations he’s having with clients now that he wasn’t having at the end of last year, Caprock’s Singer says multi-generational planning keeps popping up. That can include estate planning discussions for upcoming liquidity events or educating families around effective ways to ensure capital transitions from generation to generation.
“As an advisor in my 30s, I tend to focus more on educating children of each of our families on how we think about investing. This ensures they are prepared as beneficiaries to inherit future assets and comforts parents that they are ready to be a part of broader family wealth conversations,” Singer said.
Brennan, meanwhile, believes this year’s dialogue feels more “holistic.”
“We’re talking about long-term care planning, cybersecurity and how to integrate charitable, educational, and legacy goals under the new OBBBA framework. There’s also a renewed interest in personal liquidity planning, ensuring clients can take advantage of market dislocations or unexpected opportunities,” Brennan said.
In short, he believes end-of-year planning has become less about squeezing in last-minute deductions and more about building durable financial structures for what comes next.
Due to current market conditions and recent runs across the equity markets, Hobaica believes valuations are somewhat “frothy.” And while he expects to see continued dividend income from many sectors of the equities market, as well as income from fixed-income vehicles, he believes it's more critical this year to prepare for a potential downturn based on the other indicators he is following.
“We are looking to pre-fund the cash needs of our clients and hold those funds in accessible vehicles to address this uncertainty. Considering current rates across these types of investments and accounts, this approach doesn’t reduce the potential interest income from these holdings,” Hobaica said.
Finally, Vest Gen’s Hanlon, sees the only significant difference between this and last year are conversations about the major changes that come from the OBBBA and how those changes impact his approach to the future.
“For the most part, we discuss the SALT deduction being increased to $40,000 and how that begins to phase out at $500,000, and the charitable giving changes for those in the 37% tax bracket,” Hanlon said.
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