$2.5 billion Vista Capital Partners has a new CEO in Dougal Williams, a veteran of the Portland-based firm since 2004. Williams is succeeding previous CEO Doug Johanson, who is taking over as chairman of the firm's board of directors. Williams was previously Vista's chief wealth officer and principal advisor, working with individual, corporate and nonprofit…

Planned charitable giving officers, attorneys, and other professionals who advise individuals who make significant charitable gifts often encounter obstacles related to charitable planning around giving. “Significant gifts” are large gifts and often include trusts, such as charitable remainder trusts (CRTs), and naming rights, such as the donor's right to place their name on some physical…

Emergence of autonomous decentralized unincorporated organizations. Source link

While not subject to the same distribution requirements as private foundations (PFs), donor-advised funds (DAFs) consistently punch above their weight when it comes to grantmaking. For example, researchers have noted that despite owning only one-sixth of the total assets held by all DAFs and PFs, DAFs were responsible for approximately one-third of these charitable entities'…

How the Scary Fund Case Might Affect Race-Based Philanthropic Programs Source link

(Bloomberg) — Bank of America Corp . said two executives will lead a new effort to better connect its investment-banking business with wealthy clients, hoping to boost asset growth and deal opportunities. Related: The Power of High School Sports Taps Merrill Wealth Management to Help Kids Plan Financial Futures Jim Rourke and Michael Liu were…

(Bloomberg) — In the traditional investment world, asset safekeeping is a pretty boring business, albeit a crucial one: Keeping clients' stocks and bonds safe is a pretty simple job. However, in the nearly $2 trillion cryptocurrency market, a favorite playground for hackers and scammers, custody is anything but boring. As a result, the service costs…

• Internal Revenue Service updates qualified domestic trusts (QDOT) regulations—On August 21, 2024, the IRS published proposed amendments, REG-119683-22, to the regulations under section 2056A of the Internal Revenue Code related to QDOTs. Generally, there is no marital deduction for property that passes to a non-citizen spouse. However, IRC Section 2056A provides that a QDOT…

(Bloomberg) — An ETF issuer best known for thematic trading is looking to launch a new diversified investment strategy that channels the college endowment playbook — including bets on the booming world of private markets. According to a filing with the US Securities and Exchange Commission. Related: Apollo is selling $1 billion a month in…

(Bloomberg) — About 40,000 individual investors in Vanguard Group index-tracking funds participated in a pilot program that allowed them to make their views known on important issues facing shareholders. Approximately 25% of them chose to vote their shares in accordance with the recommendations from proxy advisor Glass, Lewis & Co. on ESG-related issues such as…