Any professional who serves high-net-worth clients eventually comes face to face with a Mexican fideicomiso (pronounced fee-day-kah-mee-so) and has to decide how to advise the client on how the fideicomiso should be taxed and reported under U.S...

The Securities and Exchange Commission hired Julie Zelman Davis as deputy director of the agency's Office of Legislative and Intergovernmental Affairs, where she will serve as a liaison between the Commission and Congress. Prior to joining the SEC...

In our January cover story about how the credit crunch had dampened RIA M&A activity, we said that 20 percent of National Financial Partners' acquired advisory firms were in base deficit; we should have said that 20 percent of acquired earnings...

Decoy Client Sometimes a fake client is an advisor's best friend, unless, that is, the advisor gets caught. On March 9, 2009, the SEC charged Leila Jenkins and her firm, Locke Capital Management Inc., with inventing a client with a massive and...

In 2008, New York City Mayor Michael Bloomberg actually got wealthier, as did George Soros and hedge fund manager John Paulson (the guy who bet against subprime before the melt down). Bloomberg is now the richest man in Big Town and that's saying...