Wealth Building

Asset managers must offer better impact investment options

Asset managers have focused too much on providing highly ESG-rated products while ignoring investments that combine socially and environmentally responsible practices with delivering alpha returns, according to speakers Tuesday at Inside ETFs+, part of Wealth Management EDGE at The Diplomat Beach Resort in Hollywood Beach. , Fla. Today, the global impact investing market is valued…

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EDGE Wealth Management: PE money keeps valuations high

Despite the rush of potential sellers in the RIA M&A space, valuations remain high as private equity firms continue to enter the space. “Private equity has entered the conversation,” according to Jessica Polito, founder of Turkey Hill Management, which provides M&A advice to sell-side wealth management firms. Connected: RIA Edge Live Blog: Sales Growth Polito…

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Scene from Day 3 of EDGE Wealth Management

The second full day of Wealth Management EDGE got spicy, with a Hot Ones-inspired conversation between Michael Kitces and Jason Pereira, panels with PE firms and more. Wealth Management EDGE was on fire Wednesday — at least the lips and mouths of Michael Kitce and Jason Pereira — as they collapsed into about two dozen…

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Consolidation of industry's largest RIAs 'highly likely'

Consolidation among the most prominent players in the RIA space is “highly likely,” according to a managing director for private equity firm LightYear Capital. Max Rakhlin said the return on dollars that aggregators spend on finding smaller subsidiaries still makes it an attractive route for the industry's top firms. But these circumstances will not last…

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Resist the urge to get fancy with actively managed portfolios

When using model portfolios, keeping it simple often yields the best results, said speakers at Inside ETFs+, part of Wealth Management EDGE at The Diplomat Beach Resort in Hollywood Beach, Fla. Advisor adoption of actively managed portfolios will continue to grow for some time because the products simplify advisors' lives, noted John Davi, CEO and…

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Advisors: Go ahead and Kick The Tires on AI

Whether creating or editing images, video, audio or email, advisors can use AI to improve efficiency and free up time to work with clients. Source link

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Exploring the Dynamics of Financial Services Partnerships

Produced by In partnership with or The latest study conducted by Wealth Management IQ, in partnership with United Planners Financial Services, reveals high levels of satisfaction and ripe areas for improvement in financial services partnerships. Advisors express satisfaction but express concerns about technology support, cyber security and succession planning. Some of the key findings include:…

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Penalties properly assessed for failure to file Form 5472

Earlier this month, the U.S. Court of Appeals for the District of Columbia Circuit issued a ruling in Farhy against the Commissioner, No. 23-1179 (May 3, 2024), reversing the decision of the Tax Court which held that the Internal Revenue Service could not assess penalties under Internal Revenue Code section 6038(b) for failure to file…

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Mischaracterizing a grantor's trust can cost heirs $15 million

As the Internal Revenue Service continues to crack down on U.S. taxpayers who fail to report foreign-source income, a recent case illustrates the inherent reporting difficulties faced by individuals with foreign trusts. IN Geiger v. US, heirs to an estate are preparing to fight a $15 million tax bill stemming from the misclassification of a…

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Hot Takes by Michael Kitces, Jason Pereira

The hit YouTube interview show “The hot ones” promises “hot questions and even hotter wings.” On that show, celebrities are asked questions as they battle it out with a range of 10 increasingly spicier spices – and it's the mix of those pointed questions and answers with physical reactions to the heat that proves the…

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