By Amey Stone

The brokerage firm known for serving Main Street investors is launching a new private client service for investors with a minimum of $10 million in investible assets. The new offering will provide clients with financial planning, investment management, a wider selection of products and services, and dedicated service and operations support, Edward Jones said. The company didn't disclose what fees it will charge.

Among other most-read wealth management articles this week:

Robinhood gives up gains . Economic worries and market uncertainty have been weighing on bank and brokerage stocks broadly, but Robinhood Markets is one of the hardest hit. Its shares fell nearly 20% on Monday and then 7% on Thursday. Investors had been bullish on the stock because of Robinhood's fast growth, but now they appear to be harvesting some of their gains. Even with this year's decline, the stock has doubled in the past year. The KBW Nasdaq Bank Index is down 6% this week through Thursday's close.

Goldman slashes GDP forecast . The firm's chief economist, Jan Hatzius, cut his 2025 U.S. GDP growth forecast to 1.7%, pointing to the impact of tariffs on the economy and consumers. At the start of this year, he was predicting 2.4% GDP growth. Tariffs tend to tighten financial conditions, and trade policy uncertainty leads companies to delay investment, he writes. Tariffs may also spur inflation. Hatzius also anticipates core PCE inflation may reaccelerate to 3% later this year. His previous forecast called for 2.5% PCE growth.

Advisors try to calm clients . The S&P 500 has now joined the Nasdaq in correction territory. For this week's Barron's Advisor Big Q, we asked advisors what they are telling clients who are rattled by the market declines. Mostly, they are urging investors to avoid panicking and to stick with their long-term plans, but they are also adding to cash allocations for some clients and moving stock allocations to sectors that are less vulnerable to the impact of tariffs.

Never able to buy a home ? High mortgage rates and pricey real estate have left prospective buyers feeling that their homeownership dreams are out of reach. Just over half of Americans who don't currently own a home say they'll never be able to afford one, according to a new Northwestern Mutual survey of Americans' financial outlook. Of millennials, 58% of nonhomeowners say owning a home isn't a realistic goal, now or in the future.

Passive funds beat active, but not in bonds . Although actively managed exchange-traded funds and mutual funds generally fell short of their passive peers in 2024, fixed income was a notable exception. When it comes to large-cap U.S. stocks, active managers struggled last year, with only 37% beating their passive peers, according to Morningstar. Also, fees matter: The cheapest active funds succeeded more often than the priciest ones.

Write to Amey Stone at amey.stone@barrons.com

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March 14, 2025 13:23 ET (17:23 GMT)

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