Raymond James Financial Services (RJFS) has launched a program to help small banks and credit unions deliver “wealth management” services to their affluent customers. “Community banks have missed an entire strata of their client...

The Glenmede Trust Company, a Philadelphia-headquartered wealth advisory firm, announced the further development of their focus on the wealth advisory business. As part of their strategy to target the penta-millionaire and ultra high net worth...

For years, Morningstar has provided research tools to financial advisers. But now the company has decided to get into the advisory business. Morningstar, a Chicago-based provider of investment information and analytical tools, has announced it...

http://www.abanet.org/journal/sep01/fnet.html

Oddlots Random samplings of news affecting the estate planning industry Compiled by Christopher Weems, Associate Editor Send an e-mail with your news item Metavante to Purchase Brokat Technologies' U.S. Internet Banking and Brokerage Assets...

Fifty-nine percent of American adults don’t have a will, according to a survey by the legal Web site, FindLaw (www.findlaw.com). The survey found that people are more likely to have a will as they get older. Only 11% of people between the...

Be Cautious About "Stretch IRAs": NASD Regulation NASD Regulation, Inc., has issued an Investor Alert that cautions investors about "stretch IRAs," a new kind of account allowed by recent changes in IRS rules. They are often billed as "estate...

Yesterday the SEC turned down a request from the Investment Company Institute (ICI) to regulate folio products as mutual funds. Sponsors of folios--which are ready-made baskets of stocks individually owned by investors--operate as broker/dealers...

It seems every financial services provider claims it is aiming at the high-net-worth market. But according to a study by The Boston Consulting Group (BCG), many firms risk missing the target. The study looked at the market of an estimated 34...

Too Soon for Electronic Rules It’s premature to recommend any specific changes in regulations, policies, guidance or any other aspect of supervision associated with the online delivery of financial services, ABA said in a comment letter to...