In the first settlement of its kind, the NASD hit Raymond James with a $750,000 fine Wednesday for improperly putting certain clients in fee-based brokerage accounts. The NASD said Raymond James Financial will terminate its fee-based brokerage...
Even though Morgan Stanley’s board has said that it stands behind Philip Purcell as CEO, the group of dissidents calling for Purcell’s ouster is digging in for a long, protracted fight for control of the company.
The palace intrigue at Morgan Stanley continues—to the delight of the New York City-based financial journalism core. For days now, Morgan CEO Philip Purcell’s struggle to keep the helm of Morgan has been splashed across front pages of...
For closely held family business owners who want their businesses to pass to the next generation, there are various estate-planning techniques that should help them avoid significant transfer tax costs. These range from simple gifts of family...
California is a significant force in philanthropy in the United States. In 2001, California's taxpayers contributed $16.5 billion to philanthropy, in a year that saw $122 billion given to charity nationwide. California ranks 10th in the country in...
Who do wealth owners trust most for financial advice? Outside their family officers, it's their lawyers and accountants. Clearly these advisors are not experts in the stock market. But what they can bring to the table is independence, strategic...
There comes a time in the life of many wealthy families when selling the family business seems like the right thing to do because no one in the younger generation is interested in taking over or selling means unlocking wealth that will catapult...