On May 7, 2024, the U.S. Treasury and Internal Revenue Service issued proposed regulations providing guidance regarding the reporting of ownership information, transfers, and receipt of distributions by foreign trusts; receiving large foreign gifts; and loans from, and uses of, assets of foreign trusts. The proposed rules also seek to amend existing regulations regarding foreign…

Sponsored by By Todd Ahlsten, CIO, Parnassus Investments I've been down to Silicon Valley countless times in my 29 years studying the semiconductor industry. The several-day trip I just completed, where I sat down with the CFOs and other executives of major chipmakers, was unlike any other I've experienced. That's because the AI ​​boom driving…

Private equity firm Thomas H. Lee Partners recently took Hightower off the market because it didn't get the price it was asking from potential buyers, according to sources close to the firm and investment bankers involved. Citywire.com first reported that THL was pursuing a $130 billion sale of its majority stake in the RIA platform…

Cetera Financial Group, the independent broker/dealer network with more than $475 billion in assets under management, has added four new executives to its advisory solutions team as part of the firm's effort to build services for independent advisors registered investments. Brian Lampron, former vice president of RIA Services at Commonwealth Financial Network, has joined as…

Many RIAs fail to pave a path for the next generation of advisors to lead their firms. Fewer than 40% of RIAs have a succession plan in place, Mary Kate Gulick of FiComm Partners said during a panel discussion held this week at the Wealth Management Edge conference. In part, this is because a proper…

Before Cary Carbonaro, senior vice president and director of women and wealth at Advisor Capital Management, answered how she best communicates with clients, she asked if any compliance officers were in the audience. When no hands went up, she said she would meet clients wherever they wanted, whether through direct messages on Instagram, Facebook or…

This episode is fueled by the perspective of inevitability, which provides a unique lens into the growth trajectory of an RIA. Five years ago, Rob Nelson joined us on this series to talk about his business model, which “evolved organically,” as he put it, to serve a high-net-worth athlete client base professionals, entrepreneurs, corporate executives…

Bernie Clark, head of Schwab Advisor Services, will step down from that position on June 28 and move into an advisory role with the company, amid a series of executive moves announced Thursday. He is expected to be replaced by Jon Beatty, currently chief operating officer for Schwab Advisory Services. In addition, Tom Bradley, managing…

Increased volatility in US interest rates is prompting markets to reassess their expectations for a rate cut by the Federal Reserve. In this environment, high-quality mezzanine bonds represent a compelling option for investors' portfolios. These bonds offer attractive yields, favorable valuations and a longer profile, which is especially favorable if the Federal Reserve decides to…

Vib Arya, chief operating officer of Shufro Rose, said at WealthStack, part of Wealth Management EDGE at The Diplomat Beach Resort in Hollywood Beach, Fla., that he centers the 86-year-old company's technology stack around the idea that automation removes friction. “We have multi-generational relationships that are so precious to us,” he said. “We want advisors…