A former Merrill Lynch adviser filed a class-action lawsuit against the wire, alleging it violated federal law by withholding deferred compensation payments. California-based Kelly Milligan filed the lawsuit in North Carolina federal court, alleging he left $500,000 in deferred compensation on the table when he left Merrill Lynch in 2021. Connected: Merrill Reports records wealth,…

CAIS, an alternative investment platform for independent financial advisors, has added alternative asset manager giant Blackstone to its marketplace. “We are committed to providing independent advisors with access to leading alternative investment strategies from the industry's leading alternative asset managers,” CAIS founder and CEO Matt Brown said in a statement. “As the demand for alternative…

Many advisors still consider independence a “new” model, yet they are decades off the mark. Independence has gained incredible steam recently, catalyzed by an ever-growing ecosystem born to support breakaway advisors, making the jump much less difficult and much more appealing. Connected: Financial Summit hits $10 billion in assets with 2 acquisitions While we often…

Integrated Partners, a CPA-focused hybrid RIA and supervisory jurisdiction office of LPL Financial with over $18 billion in AUA, has named Andree Mohr, currently its chief implementation officer, as its new president. Paul Saganey founded Integrated in 1996, serving as president and CEO until now. Saganey, who will continue as CEO, said Mohr's promotion allows…

Sponsored byCash yields are currently elevated. We appreciate why cash distributions have increased. As the US Federal Reserve considers changing its stance, so should investors. Investors should consider the inherent reinvestment risk in cash. Shifting exposure from cash to short-term bonds can allow investors to “lock in” much of today's highs, while also positioning their…

A client, whom we'll call Lou, is meeting with his life insurance agent, estate planning attorney, and tax advisor. They're talking about the end of the 2025 tax law, how it might affect Lou's tax position and liquidity needs, and what planning he might consider doing now in anticipation of the impending change. After listening…

Investment analysis tends to be only as good as the expertise of its sources. Regarding commercial real estate, some of the biggest misconceptions held by people outside the industry include the assumption that all commercial properties are created equal and that office buildings make up the majority of the commercial real estate sector. (In reality,…

The Internal Revenue Service has announced four alternatives related to Appellate Alternative Dispute Resolution Program. This is good news. Outside stakeholders have encouraged the IRS to expand ways to resolve issues with the agency. According to a GAO report released in May 2023, The IRS can better manage alternative dispute resolution programs to maximize benefits,…

A Massachusetts-based group of five advisers managing about $800 million in assets is joining Raymond James' independent channel from Commonwealth Financial Network. Advisors include Jonathan Wolff, Scott Schutte, Justin Turcotte, Jack Wolff and Evan Mattern, who created Lightship Wealth Strategies through Raymond James' independent channel; three customer service associates will join them. Connected: Raymond James…

On May 6, 2024, the Treasury Department published TD 9996, “Relief Provisions Respecting the Timely Allocation of the GST Exemption and Certain GST Elections.” These regulations address the circumstances and procedures under which an extension of time will be granted under Internal Revenue Code section 2642(g) to make three allocations and elections for generation transfer…