BofA's Global Wealth and Investment Management, which includes Merrill Lynch, reported $506 million in net income for the quarter. Merrill Lynch contributed the bulk of revenues, with $3.5 billion, up from $3.1 billion a year ago.
VWG Wealth Management, with assets of $700 million, is the fifth wirehouse team this year to join HighTower Advisors, a Chicago-based hybrid RIA with national reach and $18 billion in AUM. HighTower signed up three Merrill Lynch teams in Palm...
Minneapolis—“Well, we’re into that time of year where everyone’s focus is getting out on the lakes,” Ken said. “My challenge is getting everyone, especially my partner, focused on their job while they’re in the office—I don’t care what they do on...
There was an old woman who lived in a shoe Had she planned on giving that shoe (her personal residence) to a charitable remainder unitrust (CRUT) or charitable remainder annuity trust (CRAT) and didn't vacate before funding the trust no income tax...
Financial advisors like to peddle performance, and Talon Asset Management in Chicago is no exception. Senior Principal Terry Diamond says the practice, with about $1.1 billion in assets under management, has seen only three losing years over the...
Ninth Circuit affirms Tax Court that assets transferred to family limited partnership (FLP) are includible in decedent's estate In an unpublished memorandum decision dated May 4, 2011, the U.S. Court of Appeals for the Ninth Circuit affirmed the...
When planning for charitable gifts, especially those accomplished using strategies that result in the gifts unfolding over an extended time, donors and those advising them need to consider the possibility that the rules on how those gifts are...
Many charitably inclined clients abstained from making significant outright donations to charity or creating or funding charitable remainder trusts (CRTs) during the recent economic and tax law uncertainty. They still may be reluctant to donate...
