Wealth & Asset Management — 2026-05-13

Key Highlights

Ritholtz Wealth Launches 'Porterhouse' Equity SMA Strategy

Ritholtz Wealth Management has launched a new equity separately managed account (SMA) strategy called "Porterhouse" in partnership with Franklin Templeton. The strategy, named for its focus on quality, incorporates both fundamental and technical factors to selectively target market leaders. The momentum-oriented approach combines two analytical lenses to identify what the firm sees as the strongest performers in the market.

InvestmentNews Reveals 5-Star Wealth Management Teams for 2026

InvestmentNews has published its annual list of 5-star wealth management teams for 2026, recognizing advisory groups that demonstrate thoughtful client service, impactful track records, and a disciplined approach to independence. The recognition highlights teams that are setting a high bar across the RIA and independent advisory landscape.

Weekly Investment Must-Reads: Active vs. Passive, Bitcoin ETFs, and Biofuels

WealthManagement.com's weekly investment digest for May 12, 2026 covers key themes including the ongoing active vs. passive debate, bitcoin ETF developments, securities lending trends, long/short SMAs, and hedge funds placing bets on biofuels. The roundup reflects the diverse landscape of strategies advisors are evaluating as markets evolve.

Wealth Managers Prepare for Technology's 'Next Big Bang'

Professional Wealth Management reports that wealth managers are preparing for what some are calling the next "Big Bang" in technology. While human-augmented digital advice currently defines the industry reality, debate is building between proponents of fully automated, AI-driven investment approaches and those who favor behavioral science frameworks. The article signals growing industry tension over how technology should reshape the advisor-client relationship.

Analysis

Quality-Momentum SMA: A Notable Strategic Pivot

The Ritholtz-Franklin Templeton "Porterhouse" SMA launch is worth watching closely. Separately managed accounts have been gaining traction among advisors seeking greater customization and tax efficiency compared to mutual funds or ETFs. By blending fundamental analysis (balance sheet strength, earnings quality) with technical factors (price momentum signals), the strategy attempts to reduce the known weakness of pure momentum approaches — their tendency to hold deteriorating fundamentals — while avoiding the sluggishness of pure fundamentals-only screens.

The partnership model itself reflects a broader industry trend: RIAs increasingly collaborating with large asset managers to distribute specialized strategies to high-net-worth clients. For advisors, SMAs in this format can offer direct indexing-adjacent benefits, including potential tax-loss harvesting at the individual security level, though details on that front remain limited from current disclosures.

The Active-Passive Debate Persists

The weekly "must-reads" digest flagging active vs. passive as a central theme is a recurring but meaningful signal. With bitcoin ETF AUM continuing to grow and alternative strategies like biofuels-focused hedge funds attracting attention, advisors face mounting pressure to articulate a coherent framework for when active management adds value. The consensus remains that active strategies need to demonstrate after-tax alpha net of fees — a high bar in efficient markets.

What to Watch

• SMA Strategy Traction: Monitor whether the Ritholtz-Franklin Templeton "Porterhouse" approach attracts significant AUM and whether other major RIAs replicate the quality-momentum SMA playbook with asset manager partners.

• Technology Investment in Advisory Firms: The "next Big Bang" technology discussion will likely intensify at upcoming industry conferences. Advisors and allocators should track which AI and behavioral finance tools are gaining regulatory acceptance and demonstrated client outcomes.

• 5-Star Team Performance: With InvestmentNews spotlighting top advisory teams, these firms often see accelerated AUM growth and talent attraction — worth monitoring for consolidation signals in the RIA space.

• Bitcoin ETF Allocation Decisions: As ETF structures for crypto mature, advisor allocation decisions are becoming a portfolio construction issue — not just a speculative one. Watch for updated model portfolio guidance from major platforms.

• Direct Indexing vs. Standard Tax-Loss Harvesting: Across robo-advisor and SMA platforms, the delta between direct indexing returns and standard tax-loss harvesting (reportedly ~1.8% vs. ~0.77% in after-tax annual returns at scale) is becoming a material client conversation for accounts above $100K in assets under management.