(UBS)

Key points

  • Financial health check-ups can be helpful to ensure that a portfolio and financial plan reflect life’s latest changes. The Seasons of Planning checklists help to make these “important, but rarely urgent” check-ups part of an investor's routine, as a complement to regular account review conversations with a financial advisor.
  • In this report, we walk through three key topics to address this fall: Open enrollment, Gift-giving, and Philanthropy.
  • For other year-end planning items, please see the recent CIO global investment management report, Year-end priorities and a preview of 2026, published 25 September 2025.

This report has been prepared by UBS Financial Services, Inc. Please see important information and disclosures at the end of the document.

**The authors of this marketing document transitioned from CIO Research to CIO Global Investment Management on 1 July 2025. This document constitutes sales and education content, not a research report, and it is not developed or held to the standards applicable to independent research. This document may include references to previous Research publications by the authors.**1. Open enrollment

Every year is an opportunity to reaffirm or adjust work benefits such as health, life, and disability insurance coverage. Working with a financial advisor may help families understand how their choices may support financial health.

For more information, please visit ubs.com/benefitsinsights.

Tip
According to a study by the Employee Benefit Research Institute, only 15% of Health Savings Accounts (HSAs) have invested their HSA balances. The other 85% of HSAs are sitting in cash or money market funds. Failing to invest HSA assets for growth could be a huge missed opportunity, because HSAs offer three tax advantages that may substantially improve after-tax growth potential: income tax-free contributions, tax-free growth, and tax-free distributions for qualified medical expenses.

For those enrolled in a qualified high-deductible health plan, with access to an HSA, it is possible to contribute up to $4,300 for individuals ($8,550 for families) in the 2025 tax year (in 2026, these limits will rise to $4,400 and $8,750). To learn more, please see the CIO research report, HSAs and the power of tax-free growth (28 September 2022).

  1. Gift-giving

The season of giving is an important time for reflection, gratitude, and revisiting priorities—especially after a period of significant change. For many families, year-end planning may involve thoughtful consideration of how much to allocate to loved ones, charitable causes, and taxes. For more information, please see the CIO global investment management report, Give to others, not the IRS (20 October 2025).

Tip
The annual gift tax exclusion amount ($19,000 per spouse per recipient for tax years 2025 and 2026) is exempt from the total amount of taxable gifts made during the year, and they can be made in several different forms including cash, stocks, or property.

  1. Philanthropy

“Black Friday” and “Cyber Monday” have become holiday traditions for buying gifts for our families and friends. These dates have been joined by a relatively new tradition—“Giving Tuesday”—that celebrates philanthropy. This relatively new holiday tradition serves as a helpful reminder of the power of charitable giving and the rewarding nature of philanthropy.

For a list of the different types of charitable vehicles one might consider, as well as the philanthropic and tax considerations associated with each, see the UBS Advanced Planning team's Charitable giving: The rules of the road report.

Tip
Donor Advised Funds (DAFs) are a type of account that may allow families to claim a charitable deduction in the year that they fund the account, while allowing flexibility on when the funds will ultimately be donated to a charitable cause. Families can fund DAFs with cash or appreciated securities and keep the assets growing before they are eventually granted or donated. Consider creating a new family tradition by deciding together which charities will receive grants each year.

Questions to get you started

  • Have you reviewed all the work benefits available to you? To get the most from your benefits, schedule time with your financial advisor and your HR team.
  • Have you completed any gifts this year? Are you considering more gifts?
  • Is your family involved in your philanthropy decisions?

Retirement guidebook

For more on these topics, and an overview of what’s new in retirement planning, please visit ubs.com/retirementguidebook.

Important Information and Disclosures

Purpose of this document: This report is provided for informational and educational purposes only. It should be used solely for the purposes of discussion with your UBS Financial Advisor and your independent consideration. UBS does not intend this to be fiduciary or best interest investment advice or a recommendation that you take a particular course of action.
Personalized recommendations or advice:. If you would like more details about any of the information provided, or personalized recommendations or advice, please contact your UBS Financial Advisor.
Conflicts of interest: UBS Financial Services Inc. is in the business of establishing and maintaining investment accounts (including retirement accounts) and we will receive compensation from you in connection with investments that you make, as well as additional compensation from third parties whose investments we distribute. This presents a conflict of interest when we recommend that you move your assets to UBS from another financial institution or employer retirement plan, and also when we make investment recommendations for assets you hold at, or purchase through, UBS. For more information on how we are compensated by clients and third parties, conflicts of interest and investments available at UBS please refer to the ‘Your relationship with UBS’ booklet provided at ubs.com/relationshipwithubs, or ask your UBS Financial Advisor for a copy.
Important information about brokerage and advisory services: As a firm providing wealth management services to clients, UBS Financial Services Inc. offers investment advisory services in its capacity as an SEC-registered investment adviser and brokerage services in its capacity as an SEC-registered broker-dealer. Investment advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate arrangements. It is important that you understand the ways in which we conduct business and that you carefully read the agreements and disclosures that we provide about the products or services we offer. For more information, please review client relationship summary provided at ubs.com/relationshipsummary.
Important additional information applicable to retirement plan assets (including assets eligible for potential rollover, distribution or conversion): This information is provided for educational and discussion purposes and are not intended to be fiduciary or best interest investment advice or a recommendation that you take a particular course of action (including to roll out, distribute or transfer retirement plan assets to UBS). UBS does not intend (or agree) to act in a fiduciary capacity under ERISA or the Code when providing this educational information. Moreover, a UBS recommendation as to the advisability of rolling assets out of a retirement plan is only valid when made in a written UBS Rollover Recommendation Letter to you provided by your UBS Financial Advisor after a review of detailed information that you provide about your plan and that includes the reasons the rollover is in your best interest. UBS and your UBS Financial Advisor do not provide rollover recommendations verbally.
With respect to plan assets eligible to be rolled over or distributed, you should review the IRA Rollover Guide UBS provides at ubs.com/irainformation which outlines the many factors you should consider (including the management of fees and costs of your retirement plan investments) before making a decision to roll out of a retirement plan. Your UBS Financial Advisor will provide a copy upon request.
No tax or legal advice: UBS Financial Services Inc., its affiliates, and its employees do not provide tax or legal advice. You should consult with your personal tax and/or legal advisors regarding your particular situation.
Financial planning services: In providing financial planning services, we may act as a broker-dealer or investment adviser. When we act as investment adviser we charge a separate fee for the service and enter into a written agreement with you. The nature and scope of the services are detailed in the documents and reports provided to you as part of the service.

© UBS 2025. The key symbol and UBS are among the registered and unregistered trademarks of UBS. All rights reserved. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA. Member SIPC.

Disclaimer