It was a good quarter for Ameriprise’s Advice & Wealth Management segment. It posted total revenue of $1.03 billion, a record, up 15 percent year over year. Pre-tax operating earnings of $90 million were up 157 percent from a year earlier.
Aite Group Senior Analyst Doug Dannemiller says more practices like Morristown are setting up hybrid RIAs as a draw for advisors who are considering a transition to a fee-only model but still want to retain their commission business. It’s on...
Estate's beneficiaries aren't entitled to an estate's unused loss carryovers In Chief Counsel Advice 201047021 (Nov. 26, 2010), the beneficiaries of an estate weren't entitled to deduct unused carryover losses attributable to the...
During 2010, Internal Revenue Code Section 26641 and Section 901 of the Economic Growth and Tax Relief Reconciliation Act of 2001 (the 2001 Act) caused considerable confusion as to how the generation-skipping transfer (GST) tax would be applied in...
Every month, we hope, you flip through our pages and click through our website to find a few things worthy of your reading time — a few things that inform and entertain, that deepen your understanding of the business of providing financial advice...
While the number of advisors shifting to independent business models slowed somewhat last year from 2009, the size of those breakaways making the move is growing, says Fidelity Investments. It’s not a new trend for the No. 2 RIA custodian...
