September 5, 2025

WEEKLY TOUCHPOINT

• US Slaps Crushing 50% Tariffs on India in Proxy Strike at Russia

• A call to action for building resilient portfolios

• Larry Fink’s 2025 Annual Chairman’s Letter to Investors

• Stalling Jobs Growth May Be Just What the Market Needs

Life Insurance Awareness Month: Week 2

Did you know that more than 100 million Americans say they need life insurance – or more of it?¹ So if it’s been a while since you reviewed your coverage, or you’re not sure where to begin, I’m here to help you simplify the process.

With so many types of life insurance policies to choose from, it can be difficult to understand which policy is best suited for our clients. Furthermore, many clients need help understanding what differentiates one life insurance policy from another. That’s where this guide steps in.

With this summary guide, you’ll be able to quickly navigate the life insurance space and have more intelligent conversations with your clients about whether a particular life insurance policy might fit (or currently fits) their financial situation and preferences. This summary guide covers some key components of life insurance policies, such as:

• The types of life insurance policies that are available and how they’re categorized.
• What specific types of life insurance policies can do, and who they might be most suitable for.
• The differences between types of policies with regard to their death benefit, cash value, and premiums.
• Important factors to consider regarding policy design, and how they affect cash value accumulation.
• The tax treatment of withdrawals and policy loans, and how they affect a policy’s cost basis.

DOWNLOAD our guide: Common Life Insurance Policies

 

Source: fp Pathfinder

 

Equities

• Stocks managed a modest climb, with mid-caps stealing the spotlight over both large- and small-caps.

• Large-growth stocks kept their year-to-date lead on large-value, continuing the familiar theme.

• Communication Services shined after a favorable antitrust ruling boosted Alphabet, while Energy sagged on weaker oil prices.

• Overseas, developed markets barely budged—Europe and Japan in particular—while emerging markets eked out gains despite China’s drag.

Bonds

• Bonds rallied as soft jobs data pushed yields lower, especially on the long end of the curve.

• The 2-year Treasury settled at 3.51%, while the 10-year eased to 4.10%.

• Long-duration government and corporate bonds surged, posting gains north of 2% for the week.

• Credit held up: high-yield bonds advanced slightly, with spreads widening only modestly; yields closed at 4.78% for investment-grade corporates and 7.07% for high-yield.

Macroeconomic Data

• Labor market reports showed strain, with just 22K jobs added in August—almost entirely thanks to healthcare hiring.

• Prior months were revised: June now shows a 13K loss, while July ticked up slightly.

• Unemployment held at 4.3% as labor force participation edged higher.

• Wages climbed 0.3%, matching forecasts, while weekly hours stuck at 34.2.

• JOLTS openings dipped to 7.2M, and ADP’s 54K private payroll gain came in below expectations.

 

(as of Monday’s Market Opening)

	Total Return (1D)	Total Return (1W)	Total Return (MTD)	Total Return (QTD)	Total Return (YTD)
S&P 500	0.41%	0.74%	0.74%	4.88%	10.65%
Dow Jones Industrial Average	0.17%	-0.14%	-0.14%	3.14%	6.90%
NASDAQ	0.83%	1.98%	1.98%	7.41%	13.30%
NASDAQ 100	0.90%	1.92%	1.92%	5.23%	13.57%
Russell 1000	0.40%	0.78%	0.78%	5.27%	11.54%
Russell 2000	0.06%	1.17%	1.17%	10.25%	8.21%
Russell 3000	0.37%	0.85%	0.85%	5.52%	11.39%
ACWI	0.44%	0.92%	0.92%	4.71%	15.49%

Source: MorningStar

Our clients have spoken. We listened.

As a result of feedback from our clients, we now have a dedicated section of our weekly newsletter just for Entrepreneurs and Business Owners. This latest addition will focus on the various and dynamic needs of business owners, specifically as it relates to succession planning and exit planning. To start things off, let’s address the difference between Succession Planning and Exit Planning.

What is Exit Planning?

When you first hear the phrase “exit planning,” you may have a very straightforward definition in mind. It sounds simple enough. You are planning for an exit.  

However, the Exit Planning Institute® (EPI) believes that there is so much more to exit planning than two simple words. It’s an ongoing and strategic process. Here is EPI’s definition, for reference: 

“Exit planning combines the plan, concept, effort, and process into a clear, simple strategy to build a business that is transferable through strong human, structural, customer, and social capital. The future of the business owner, their family, and the business itself are addressed by exit planning through creating value today. Exit planning is not just a plan. It is a strategy rooted in execution that grows value while expanding options so that an owner can transition the business on their terms when they are ready. It aligns the business, personal, and financial needs of the owner. Certified Exit Planning Advisors (CEPA®) educated the owner on all the exit options and enter an engagement with an exit-option-agnostic perspective as to truly serve the business owner’s diverse needs. CEPAs collaborate with a seasoned, multi-disciplinary team of professionals to support the success of the business owner and use each other’s specialties and expertise to the benefit of the project.”  

Naturally, in this discussion, exit via succession becomes relevant for any business. Succession could be parent to child, grandparent to child, owner to employee, and so on. But what is succession planning, and what makes it different from exit planning (if it truly is different)?  

What is Succession Planning?

As described, succession planning is a type of ownership transition, often passing the business from one generation to another or internally in the company. It is a complex dance that Amy Wirtz calls the “Cha-Cha of Succession,” and requires keeping track of multiple moving parts and an advisor’s commitment to the Value Acceleration Methodology™.  

The “Cha-Cha” indicates a certain finesse in moving between the steps, back, forward, and side-to-side. For families, the struggle of separating their interpersonal relationships from the succession process can be taxing. For any other owners considering an exit via succession, the scenario of giving your business, your most valuable asset, to someone else might feel frightening.  

This is why having a CEPA on deck for this process is so important. As Amy describes, there’s one thing CEPAs can do that ensures a smoother succession journey.  

“As an exit planner, the number one thing you must be good at is listening. You have to be able to hear the pain points and the opportunities that owners are presenting, even if they don’t realize they’re presenting them,” she says. “So listening means more than just with our ears. It means with our eyes. It means with our heart. It means with our brain.”   

Why the Distinction is so Important

While they might seem similar, exit planning and succession are actually two different things. In fact, succession planning is actually under the exit planning umbrella, acting as another potential exit option for business owners who are looking for an internal transition. When a business owner works with the CEPA through the Value Acceleration Methodology, they are given much more choice when it comes time to either continue growing value or exit. 

SOURCE: The Exit Planning Institute

 

Global Client Survey

We’re inviting you to take part in a quick, anonymous client survey. Your feedback helps us fine-tune our process, elevate your experience, and ensure we’re delivering what matters most to you. This isn’t just about checking a box—it’s about shaping the future of how we serve you. Your voice helps guide our next steps. We’re listening. We’re learning. And we’re grateful for your trust.

 

Take Our Survey Now (click here)

---

Disclosures

1. Wealth Mechanics™ is a registered trademark of Cestia Wealth Management. Unauthorized use of the trademark, including but not limited to commercial use, reproduction, or imitation without explicit written permission from Cestia Wealth Management, is strictly prohibited.
2. Market commentary provided by NewEdge Advisors
3. Charts concerning market data are provided by Exhibit A.
4. Guides and other downloadable firm material respective to financial planning processes and data are provided and powered by fpPathfinder.
5. Advisory services offered through NewEdge Advisors, LLC, a registered investment adviser. Securities offered through NewEdge Securities, LLC. Member FINRA/SIPC. NewEdge Advisors, LLC and NewEdge Securities, LLC are wholly owned subsidiaries of NewEdge Capital Group, LLC.
6. Cestia Wealth Management is not a legal tax professional. We offer tax gap analysis for clients who desire to have a comprehensive financial plan, which requires in-depth tax strategy and planning as a distinct part of the overall customized solution. Please consult your tax professional on all matters addressed in this report.
7. Information about annuities are not to be considered a recommendation. The information provided should not considered a recommendation to purchase or sell any particular security.
8. Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance is no guarantee of future results. Please note that individual situations can vary. Therefore, the information presented here should only be relied upon when coordinated with individual professional advice.