Bank of America’s Global Wealth and Investment Management (GWIM) division, which includes Merrill Lynch, reported its highest earnings since Bank of America’s takeover of Merrill in late 2008, as asset management and brokerage fees...
Independent broker-dealer Multi-Financial is undergoing a major growth initiative, ramping up its recruiting, wealth management platform capabilities and practice management services, said President and CEO Brett Harrison. Recruiting is already up...
Wealth management firms are expected to invest heavily in customer relationship management technology (CRM) over the next three years, according to a new report from Aite Group. The new technology would more efficiently store and manage vast...
As assets continue to flow to alternatives in the wake of the financial crisis of 2008 and 2009, many advisors are launching their own alternatives strategies to meet that demand. Advisors say this allows them to offer clients alternatives with...
Ninth Circuit upholds late payment penalties and interest assessed against estate that filed incomplete Form 4768 The U.S. Court of Appeals for the Ninth Circuit upheld penalties and interest assessed against an estate that filed an incomplete...
A client who has a personally owned life insurance policy comes to you. You convince her to either sell or gift the policy to an irrevocable life insurance trust (ILIT). You need to get the value of the policy, so you call the insurance company...
The Dec. 17, 2010 enactment of the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (2010 Tax Act) added the concept of portability and dramatically increased the gift tax exemption to $5 million per individual ($10...
Limited partners (LPs) (for example, family offices) who seek exposure to new and emerging alternative asset managers face a dilemma. They understand that asset managers are most motivated and in sync with their LP's goals when the asset managers...
