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James Hays has joined Wachovia Securities and will be named president of the firm's Private Client Group in mid-January 2006. Hays succeeds James Donley, who has held the position since September 2003 and earlier this year announced plans to...
Q: I had an oral contract with my partner that I would inherit his $40 million book when he retired in two to three years, but he was laid off in the middle of the transition period and now my branch manager has told me that I won't get the book...
This month, many of us will think that it's time for a fresh start, like a new job then quickly forget about it because we're afraid of all that's involved in making the switch. Brokers have more to worry about than other employees because they...
A bunch of old Citigroup asset managers will soon be without jobs when their funds are folded into Legg Mason funds. After Legg Mason and Citigroup closed their asset swap deal on Dec. 1, Legg announced in a regulatory filing with the SEC that it...
This month's Fix My Business column focuses on an industry veteran who faces what many other successful advisory practioners face: a bulging practice in need of a tune-up to increase efficiency and, as a result, profitability. For advice, we...
Securities Industry employment topped the 800,000 mark in November for the first time since February 2002, The gain of over 5,000 was the best monthly increase in the industry since June of last year.
According to Chinese astrology, 2005 is the Year of the Wood Rooster a year marked by prosperity, both spiritually and materially. Under this zodiac animal system, much of the world's population should have experienced a surge of optimism and...
Over the years, planners have found several techniques useful in helping non-U.S. families pass wealth to the next generation: offshore personal investment companies (PICs), settlor-directed revocable trusts, controlled foundations, irrevocable...
The gross estate of a nonresident alien1 (NRA) is determined in the same manner as the gross estate of a U.S. resident or citizen, although it's generally limited to property situated, or deemed to be situated in the United States at the time of...
Many wealthy people today spend substantial amounts of time in various countries and many may eventually find themselves becoming tax residents of the United States. So U.S. trusts and estates practitioners shouldn't be surprised if a client...