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As we all know, the Holy Grail for most advisors is the high-net-worth client. But Stacy Francis has a different idea. While Francis, who runs Francis Financial, a New York-based firm, serves some affluent families, she also focuses on decidedly...
In September, I wrote about a wealth management team I walked through the service-loyalty-revenue nexus drill. If you recall, this team was composed of three advisors (partners) who lost four affluent clients at a projected value of $1.2 million...
As head of Citigroup's Private Bank, John Longley has to pull off one of the more vexingly stubborn organizational challenges of the modern financial era: getting private bankers and financial advisors to cooperate and help one another, to work...
Head Exam, More Delays For Jail-Bound Hedgie: After faking his suicide and going on the lam for 23 days to avoid a 20-year jail sentence for swindling investors out of $350 million, former Bayou hedge fund manager, Samuel Israel III, is dodging...
Recent weeks have been tough at my law firm. I hesitate to answer my phone. One client sobs to me about the loss of his savings, his job and his career. Another caller fears the broker/dealer he runs is one net capital computation away from...
Registered Rep.: You say SEC Chairman Christopher Cox is being treated unfairly. Why? Philip Moyer: Companies need to report in an electronic data format that can be rapidly analyzed by computer systems designed for both investors and regulators...
The U.S. Government’s investigation of cross-border business by UBS and alleged tax evasion by some of the firm’s US clients has resulted in an indictment of Raoul Weil, Chairman and CEO of UBS Global Wealth Management and Business...
Next year, no matter how preoccupied the federal government is and no matter who is president, a new federal estate tax law is quite likely to be adopted. If it isn't, on Jan. 1, 2010, the U.S. federal estate tax will disappear at least for...
Many clients think the foreign trust tax and reporting rules can be circumvented by using non-U.S. persons as nominees. But the United States has rules to prevent potential abuse of tax law by U.S. persons who receive indirect transfers from...
Choosing a trustee is one of the most important decisions that clients make for their estate plans. Some trust powers may be critical for tax planning but giving those powers to the wrong person as trustee can actually undermine tax goals. powers...
