Back to boring: the tax alpha vibe shift

Back to boring: the tax alpha vibe shift
December 2026

The most important development in tax-aware investment advice is boring.

For several years, asset managers productized bits of tax wizardry, wealth managers understood it well enough to pitch it to their clients, and clients gobbled it up.

Nowadays, this still happens, but it's getting very cringe.

The vibe has shifted back to risk and reward, with some tax awareness... rather than the other way around.

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As Mentioned in WSJ, Bloomberg, Barron’s, and Journal of Wealth Management