The Wealth Enterprise Briefing

Infrastructure is attracting renewed interest as shifts in technology, government policy and inflation expectations reshape the opportunity set.Michael Zeuner, managing partner, and Matt Farrell, deputy CIO of WE Family Offices, examine how investments tied to real assets like energy networks, transportation and data centers can fit into a broader investment plan.Discussion points include:How long-term contracts and inflation-linked revenue streams position infrastructure assets differently than traditional equitiesThe influence of AI-driven energy demand and government spending initiativesWhy selecting specialized managers and maintaining asset diversification matterTrade-offs between public and private infrastructure strategiesRisks investors need to weigh, including interest rate sensitivity and market crowdingMichael and Matt outline a disciplined approach to evaluating infrastructure opportunities while managing potential challenges.If you'd like to talk about how infrastructure could play a role in your portfolio, we welcome the opportunity to talk more with you, contact us here.

In this flash episode of The Wealth Enterprise Briefing, WE Family Office's Michael Zeuner, managing partner, and Sam Sudame, senior investment manager, examine how sweeping new tariffs are reshaping the U.S. economic outlook and financial markets. Their conversation provides a clear assessment of the potential shift from strong fundamentals to a stagflationary environment.Topics covered include:The newly announced 10% minimum tariff on all U.S. imports and rising country-specific ratesEstimated economic effects, including slower growth and higher inflationThe rapid $2 trillion market cap loss in 48 hours, and broader corrections across equity marketsHow supply-side shocks challenge Federal Reserve policy responsesStrategies for both new and existing investors during periods of heightened volatilityMichael and Sam explain why patience, diversification and a steady hand are especially important at this stage. They also highlight how current conditions may offer opportunities for investors building long-term portfolios.We encourage you to contact us if you would like to discuss what these developments could mean for your personal investment plan.Important Information:The Wealth Enterprise Briefing contains our current opinions and commentary, which are subject to change without notice. The Briefing is distributed for informational and educational purposes only and does not consider the specific investment objective, financial situation, or particular needs of any recipient. Information contained herein has been obtained from sources we believe to be reliable, but we do not guarantee its completeness or accuracy. The information in the Briefing is not a recommendation of any security or other type of asset, and should not be relied upon as investment, legal or tax advice.  Please consult with your investment, legal and tax advisors regarding any implications of the information presented.

How should investors think about private market commitments amid persistent inflation, policy uncertainty and a “higher for longer” interest rate environment?In this episode of The Wealth Enterprise Briefing, Michael Zeuner, managing partner, and Matt Farrell, deputy CIO of WE Family Offices, discuss what long-term investors should keep in mind as private markets continue to shift in 2025.Key takeaways include:Staying on Plan – Why annual commitments, vintage year diversification and asset class balance are essential regardless of macro shifts.Adapting Strategy – How today's themes—elevated rates, sticky inflation and regulatory shifts—impact deal activity and return expectations.Asset Class Outlook – A closer look at where opportunity exists in private equity, venture capital, private credit and real assets.Secondaries & Continuation Vehicles – How these shifting structures may help address portfolio liquidity and manage exposure to risk.For more information on how private market investors can stay selective while remaining strategic, listen to the full episode now.Important Information:The Wealth Enterprise Briefing contains our current opinions and commentary, which are subject to change without notice. The Briefing is distributed for informational and educational purposes only and does not consider the specific investment objective, financial situation, or particular needs of any recipient. Information contained herein has been obtained from sources we believe to be reliable, but we do not guarantee its completeness or accuracy. The information in the Briefing is not a recommendation of any security, and should not be relied upon as investment, legal or tax advice.  Please consult with your investment, legal and tax advisors regarding any implications of the information presented in this presentation.

How can investors interpret public bond market signals to understand economic growth, inflation and market conditions?In the latest episode of The Wealth Enterprise Briefing, Michael Zeuner and Sam Sudame of WE Family Offices analyze the 10-year Treasury yield and its role in shaping expectations for inflation and growth. They discuss the disconnect between the Federal Reserve's policy and market signals, as well as how shifts in interest rates may impact portfolios.Key discussion points include:Interpreting the Yield: How different yield levels may indicate soft landings, rising inflation or potential economic slowdowns.Yield Curve Insights: The importance of the 10-year vs. 2-year Treasury spread and what a steepening curve suggests about recession risks.Real Yields and Market Sentiment: How positive real yields support economic expansion and investment opportunities.Michael and Sam highlight why monitoring interest rate movements is critical for investors and explore how policy changes could alter current expectations.Hear the full discussion for insights on how these market signals may shape investment strategies in the months ahead.As always, if you have any questions or need further insights, please don't hesitate to contact us.Important Information:The Wealth Enterprise Briefing contains our current opinions and commentary, which are subject to change without notice. The Briefing is distributed for informational and educational purposes only and does not consider the specific investment objective, financial situation, or particular needs of any recipient. Information contained herein has been obtained from sources we believe to be reliable, but we do not guarantee its completeness or accuracy. The information in the Briefing is not a recommendation of any security, and should not be relied upon as investment, legal or tax advice.  Please consult with your investment, legal and tax advisors regarding any implications of the information presented in this presentation.

In this flash episode of The Wealth Enterprise Briefing, WE Family Office's Michael Zeuner, managing partner, and Sam Sudame, senior investment manager, discuss how recent tariff policies are affecting the U.S. economy and financial markets. Their conversation provides a clear perspective on economic trends, market reactions and what investors should consider moving forward.Topics covered include:The effect of tariffs on consumer and business confidence, with sentiment reaching multi-year lowsEconomic projections showing slower growth and higher inflation due to trade restrictionsSignals from manufacturing data and corporate earnings that reflect the broader impact of policy changesHow investor sentiment has shifted, with readings showing increased cautionWhy maintaining flexibility, diversification and liquidity remains essential in uncertain market conditionsMichael and Sam emphasize the importance of long-term decision-making, offering a level-headed approach to market fluctuations caused by policy shifts.As always, we encourage you to contact us if you'd like to discuss how these insights apply to your financial strategy or if you have any questions about portfolio positioning in the current environment.Important Information:The Wealth Enterprise Briefing contains our current opinions and commentary, which are subject to change without notice. The Briefing is distributed for informational and educational purposes only and does not consider the specific investment objective, financial situation, or particular needs of any recipient. Information contained herein has been obtained from sources we believe to be reliable, but we do not guarantee its completeness or accuracy. The information in the Briefing is not a recommendation of any security or other type of asset, and should not be relied upon as investment, legal or tax advice.  Please consult with your investment, legal and tax advisors regarding any implications of the information presented.

How should investors adjust their expectations as market conditions evolve?In this episode of The Wealth Enterprise Briefing, Michael Zeuner, managing partner and Deputy CIO Matt Farrell of WE Family Offices, break down the role of capital market assumptions in portfolio construction and what the latest projections mean for investors in 2025.Key takeaways include:Understanding Capital Market Assumptions – How historical data and forward-looking projections shape asset allocation.Lower Return Expectations – Why projected returns have declined across most asset classes and what this means for investors.The Role of Private and Alternative Investments – How illiquid assets may offer enhanced returns in a lower-yield environment.Michael and Matt emphasize that while capital market assumptions provide a valuable framework, they are not predictive—investors must balance data-driven insights with flexibility in their long-term strategies.For more information and insights on capital market assumptions, listen to the full episode.As always, if you have any questions or need further insights, please don’t hesitate to contact us.Important Information:The Wealth Enterprise Briefing contains our current opinions and commentary, which are subject to change without notice. The Briefing is distributed for informational and educational purposes only and does not consider the specific investment objective, financial situation, or particular needs of any recipient. Information contained herein has been obtained from sources we believe to be reliable, but we do not guarantee its completeness or accuracy. The information in the Briefing is not a recommendation of any security or other type of asset, and should not be relied upon as investment, legal or tax advice.  Please consult with your investment, legal and tax advisors regarding any implications of the information presented.

In the latest episode of The Wealth Enterprise Briefing, Michael Zeuner, managing partner, and Matt Farrell, Deputy CIO of WE Family Offices, address a challenge many investors face: how investors can approach decision-making during periods of uncertainty about the future. They explore how the Investment Policy Statement (IPS) acts as a guiding framework, helping investors align daily decisions with their long-term objectives.Key points from this episode include:A foundational plan: How the IPS sets clear targets for asset allocation, liquidity needs and return expectations.Adapting to changes: Why quarterly and annual updates are essential to ensure the IPS reflects current family needs and market conditions.Guardrails for decision-making: How the IPS provides boundaries to manage short-term fluctuations without losing sight of the bigger picture.Understanding market cycles: Using the IPS to navigate economic shifts and maintain a focus on overarching goals.Michael and Matt emphasize that the IPS is not a static document but a dynamic tool, designed to guide decisions and reduce uncertainty at every step of the investment process.As always, if you have any questions or need further insights, please don't hesitate to contact us.Important Information:The Wealth Enterprise Briefing contains our current opinions and commentary, which are subject to change without notice. The Briefing is distributed for informational and educational purposes only and does not consider the specific investment objective, financial situation, or particular needs of any recipient. Information contained herein has been obtained from sources we believe to be reliable, but we do not guarantee its completeness or accuracy. The information in the Briefing is not a recommendation of any security or other type of asset, and should not be relied upon as investment, legal or tax advice.  Please consult with your investment, legal and tax advisors regarding any implications of the information presented.

In the latest episode of The Wealth Enterprise Briefing, Michael Zeuner and Sam Sudame of WE Family Offices discuss recent changes in interest rates and how these shifts could impact investors. With rising bond yields and shifting guidance from the Federal Reserve, the conversation explores how these adjustments may shape portfolio strategies in the months ahead.Key Themes Discussed:Interest Rates and Market Impact: The rise in public bond market yields and the shift toward a higher-for-longer rate environment.Understanding Term Premiums: What the recent increase in term premiums signals for both equity and fixed income markets.Practical Portfolio Adjustments: The importance of maintaining flexibility in investment strategies by staying neutral to asset allocation targets and focusing on shorter-duration bonds.The conversation emphasizes that while the U.S. economy remains strong, rising term premiums suggest potential risks tied to fiscal policy and long-term stability. These factors may prompt investors to approach portfolio management with a focus on balancing growth opportunities and risk control.Listen to the full episode for more perspectives on these economic shifts and their potential influence on long-term planning.As always, if you have any questions or need further insights, please don't hesitate to contact us.Important Information:The Wealth Enterprise Briefing contains our current opinions and commentary, which are subject to change without notice. The Briefing is distributed for informational and educational purposes only and does not consider the specific investment objective, financial situation, or particular needs of any recipient. Information contained herein has been obtained from sources we believe to be reliable, but we do not guarantee its completeness or accuracy. The information in the Briefing is not a recommendation of any security or other type of asset, and should not be relied upon as investment, legal or tax advice.  Please consult with your investment, legal and tax advisors regarding any implications of the information presented.

In the latest episode of The Wealth Enterprise Briefing, Michael Zeuner and Sam Sudame of WE Family Offices explore how political instability and new fiscal policies may create divergent outlooks between U.S. and non-U.S. markets. They also discuss opportunities in real assets, particularly in infrastructure, as inflationary pressures persist.Discussion themes include:Global Market Risks: Political uncertainty and new tariffs are weighing on international markets, with countries highly dependent on U.S. exports, such as Vietnam and Mexico, facing heightened risks.Real Assets and Inflation: Real assets like infrastructure and commodities could provide inflation protection. U.S. infrastructure projects, particularly in power generation and data centers, are highlighted as a promising investment theme.Adapting Strategies: The conversation touches on the importance of maintaining flexibility as fiscal policies evolve throughout 2025, with a focus on adjusting portfolio exposure based on real economic developments.Listen to the full episode to hear their thoughts on how investors can balance risk and opportunity as the year unfolds.As always, if you have any questions or need further insights, please don't hesitate to contact us.Important Information:The Wealth Enterprise Briefing contains our current opinions and commentary, which are subject to change without notice. The Briefing is distributed for informational and educational purposes only and does not consider the specific investment objective, financial situation, or particular needs of any recipient. Information contained herein has been obtained from sources we believe to be reliable, but we do not guarantee its completeness or accuracy. The information in the Briefing is not a recommendation of any security or other type of asset, and should not be relied upon as investment, legal or tax advice.  Please consult with your investment, legal and tax advisors regarding any implications of the information presented.

In the latest episode of The Wealth Enterprise Briefing, Michael Zeuner and Sam Sudame of WE Family Offices discuss how the shift from 2024's Goldilocks economy—a period of balanced growth and stability—to a potentially reflationary government in 2025. This change, driven by new administration policies, may bring both opportunities and challenges for investors.Discussion highlights include:Policy Impacts: Tariffs, immigration reforms, deregulation and tax changes are creating conditions that may affect growth and inflation.Fixed Income Considerations: With inflation concerns on the rise, a focus on credit exposure over longer-term duration is recommended. Floating rate debt and asset-backed securities are highlighted as potential options.Equity Market Outlook: While earnings growth may continue to support equities, high valuations and liquidity concerns could influence returns.The discussion emphasizes how new policies and economic shifts could influence investment strategies, balancing potential risks with areas for strategic focus in 2025.Find practical strategies for maintaining flexibility and preparing for what 2025 may bring by listening to the full episode.As always, if you have any questions or need further insights, please don't hesitate to contact us.Important Information:The Wealth Enterprise Briefing contains our current opinions and commentary, which are subject to change without notice. The Briefing is distributed for informational and educational purposes only and does not consider the specific investment objective, financial situation, or particular needs of any recipient. Information contained herein has been obtained from sources we believe to be reliable, but we do not guarantee its completeness or accuracy. The information in the Briefing is not a recommendation of any security, and should not be relied upon as investment, legal or tax advice.  Please consult with your investment, legal and tax advisors regarding any implications of the information presented in this presentation.