Considered a win for independent broker/dealers and their advisors, the California state Senate passed a bill Thursday night that tightens rules governing independent contractor status but omits onerous paperwork requirements. The bill now moves...
Seven broker/dealers have signed on this week with software provider Erado to launch interactive social media initiatives for their financial advisors. The new b/ds, represent about 5,000 reps.
Updated at 10:47 a.m. Bank of America gave the heave-ho to Sallie Krawcheck last night as part of a management shake-up. Rumors abound about why she was ousted, but most agree it means BofA has no plans to spin off Merrill.
Tax Court analyzes whether trustee's power to make distributions for her own welfare created general power of appointment In Estate of Ann R. Chancellor v. Commissioner, T.C. Memo. 2011-172 (July 14, 2011), the Tax Court interpreted the terms of a...
In the past few months, we've witnessed political and economic events that are unprecedented in recent memory. The debt crisis and ensuing investment market fluctuations, record low interest rates that we've been assured are unlikely to...
Here are some examples of the recharacterization deadlines: An individual who extended (that is, filed for and received an extension of time to file his tax returns) and filed his income tax return on time has until Oct. 17, 2011 to recharacterize...
