Happy Sunday, and welcome to Benzinga’s financial advisor newsletter.

Today we're discussing the role of advisors. As the investing landscape shifts with the rise of automation and AI, today’s clients aren’t just chasing returns, they’re searching for something deeper — personal connection. Read on to see why it’s time to move beyond the numbers

Plus, a look back at the last week of market activity.

Table of Contents

• Industry Chatter

• Weekly Market Recap

• The Week Ahead

INDUSTRY CHATTER

Clients Don't Want A Portfolio — They Want This Instead

Most advisors take great pride in building solid portfolios for their clients — and rightly so. A well-diversified investment strategy is still an essential part of the job.

However, that’s not what sets advisors apart from another these days.

With the rise of apps, robo-advisors, and artificial intelligence tools like ChatGPT offering financial insights, getting access to information has never been easier for those seeking advice.

As a result, the value clients place on portfolio construction alone is shifting. What matters most isn’t just performance. It’s perspective. Clients are looking for a trusted guide who can help them navigate complex decisions, align their financials to goals and what matters most.

Welcome to the brave new world of financial advising, where the real value proposition isn't found in a personalized and well-constructed portfolio, but in the partnership you offer clients.

For many advisors, that shift is already underway. But it’s worth asking: Are your conversations, processes, and touchpoints truly built around partnership — or still centered on performance?

The expectations are evolving:

• Millennials and Gen Z want more than market commentary. They want to know if they can take a sabbatical, launch a business, or afford that second home without sacrificing their long-term plan.

• Gen X and Boomers are less concerned with beating a benchmark and more focused on legacy, security, and navigating life transitions with clarity.

So how do advisors reinforce their role as a trusted partner — not just a portfolio manager? Shift the starting point. Open every review by asking what’s changed in their life — not what’s changed in the market. Performance should support the conversation, not dominate it.

Be the sounding board. Offer structured support around big decisions: job moves, real estate, family changes. That’s when clients need you the most — and where relationships deepen. Clarify your value. Don’t assume clients know all the tools and resources and ways you can help. Spell it out. Your guidance doesn’t end at investments — it extends to life’s biggest choices.

At the end of the day, portfolios may get clients in the door, but partnership is what keeps them coming back. And in a world full of automated solutions, a real and trusted relationship is still the most powerful differentiator advisors have.

WEEKLY MARKET RECAP

Inflation Clouds Fed's Path, White House Eyes Intel Stake And Warren Buffett Finally Reveals His Secret Position

The S&P 500, Nasdaq 100 and Dow Jones all hit new all-time highs as investors continue to bet on the strength of corporates despite fresh data pointing to an unwelcome resurgence in inflation.

July's consumer price index held steady at 2.7% year-over-year — slightly below expectations — offering a brief sense of relief.

But the real inflation shock came from the wholesale side on Thursday.

The Producer Price Index, a key gauge of price pressures at the factory and distribution level, jumped 0.9% month-over-month. That’s the sharpest increase in three years. It pushed the annual rate to 3.3%, well above expectations of 2.7%.

Indeed, the producer inflation reading is hotter-than-expected. Still, markets expect the Federal Reserve to cut interest rates by a quarter of a percentage point in September.

Secretary of the Treasury Scott Bessent has even called for more aggressive action, saying rates should be 150–175 basis points lower and hinting that a half-point cut could be on the table next month.

Consumers, meanwhile, are perceiving the pinch. The University of Michigan's August consumer sentiment survey revealed a decline in household confidence, alongside rising inflation expectations.

Americans now expect prices to increase 4.9% over the next year. That’s up from 4.5% in July — and 3.9% over a five-year horizon. Compare that with the 3.4% previously, which complicates the Fed's interest-rate path.

On the corporate front, the White House is reportedly in talks with Intel Corp. over a potential government stake. The deal, still under negotiation, would use funding from the CHIPS Act, with details on the size and valuation yet to be finalized.

The prospect of a government investment ignited a rally in Intel shares, which soared nearly 25% for the week — the company's strongest weekly gain since January 2000.

UnitedHealth Group Inc. also drew attention after Warren Buffett‘s Berkshire Hathaway disclosed a new five-million-share stake in the insurer. The move came after UnitedHealth's stock suffered a year-to-date drop of more than 40%, prompting dip buyers to speculate on a recovery.

Next week, Fed Chair Jerome Powell's remarks at the annual Jackson Hole Economic Symposium may offer fresh insight into whether policymakers will opt for a cautious quarter-point cut or keep rates on hold.

THE WEEK AHEAD

Home Depot, Lowes, Walmart, Alibaba, and Palo Alto report earnings, FOMC Minutes, Jerome Powell’s Jackson Hole Speech, and more

Economic Data

• Monday: Home builder confidence index

• Tuesday: Housing starts and building permits

• Wednesday: FOMC minutes and crude oil inventories

• Thursday: S&P Services PMI and Philadelphia Fed Manufacturing Survey

• Friday: Jerome Powell speech (Jackson Hole) and Baker Hughes rig count

Earnings

• Monday: Palo Alto Networks (PANW), Fabrinet (FN)

• Tuesday: Home Depot (HD), Medtronic (MDT)

• Wednesday: TJX Companies (TJX), Lowes (LOW)

• Thursday: Walmart (WMT), Intuit (INTU), Alibaba (BABA)

• Friday: BJ’s Wholesale Club (BJ), Buckle (BKE)

Click here for the full calendar of economic data and earnings reports.

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