Welcome to the June Edition of Wealth DFM Magazine
The first 100 days of any presidency are often seen as symbolic—a chance to set the tone and direction. But in the case of Trump 2.0, symbolism has taken a back seat to shock and disruption. Since returning to the White House in January, President Trump’s ‘Liberation Day’ tariffs and the ensuing raft of retaliatory measures have thrown global markets into turmoil. Wealth managers now find themselves having to cope with one of the most volatile and uncertain investment landscapes in recent memory. And one that shifts by the day if not by the hour!
From abrupt shifts in trade policy to an unpredictable White House agenda, markets have been left reeling. Asset allocation models are being re-evaluated, stock selection is under fresh scrutiny, and questions are mounting: Is the long era of US market exceptionalism drawing to a close?
This month, we unpack the implications of Trump’s first 100 days back in the White House—and what they mean for portfolio strategy.
Cover feature: Responding to Trump-led turbulence
In this month’s cover feature, leading investment strategists assess the political and economic fallout so far, from spiking volatility in equities and bonds to growing unease over policy direction. What are the key takeaways for wealth managers—and how can they position portfolios for resilience amid continued uncertainty? Check out the details on page 5.
US equities: A time to rebalance?
In our second feature, Jacob de Tusch-Lec, Manager of the Artemis Global Income Fund, shares why he’s growing cautious on US equities. While recent rallies may have lifted sentiment, he argues that they present more of a rebalancing opportunity than a buy signal. With valuations stretched and policy risk intensifying, the case for US equities may no longer be as compelling.
The road ahead for wealth managers
And looking ahead, we explore how the wealth management industry is preparing for the rest of 2025. In our third feature, Tara Gillespie from Redington shares insights from industry leaders on the themes dominating strategic planning—from outsourcing trends and new technologies to regulatory adaptation. In a sector that’s evolving fast, staying ahead of the curve has never been more important.
UK equities: Poised for a revival?
Finally, looking closer to home, our final feature considers whether now is the time to revisit UK equities. After years in the doldrums, could shifting valuations and improving corporate fundamentals point to a turning point? Joanne Benson of Copia Capital offers a timely assessment of the domestic outlook—and the risks that remain.
Stay connected with us
At Wealth DFM, we’re doing our best to make sense of this fast-changing world—just like you are. While this magazine gives you a flavour of what’s happening, there’s so much more going on every day over on www.WealthDFM.com.
We’re constantly updating the site with the latest news, expert insights and opinion pieces on the topics we know matter most to wealth managers. So do pop by and see what’s new—we’d love to see you there.
Thanks, as always, for reading. I hope you find this issue helpful, insightful, and maybe even a little thought-provoking.
Sue Whitbread
Editor | Wealth DFM Magazine
