Verdence Capital Advisors, a Maryland-based registered investment advisory firm serving business owners, sports and entertainment professionals, high net worth and multigenerational families with approximately $3.3 billion under management, this week unveiled its updated turnkey service for other RIAs. Before Verdence/OCIOthe new name, look and website highlight an expansion of services designed to support growth and…

In private letter ruling 202406001 (February 9, 2024), the taxpayer requested a determination of the gift tax consequences of a capital reorganization. An executive had previously formed several trusts and GRATs that held shares of A Stock and B Stock in the Company. A limited liability company was created for a specific business purpose (not…

Raymond James' revolving door is busy this week, with one adviser leaving the firm for LPL Financial, while another in California is leaving the networking world at Morgan Stanley to join the firm's employee adviser pipeline . Taimur “Tam” Baig is based in San Diego and joins Raymond James after seven years at Morgan Stanley….

In Immortal Differences: Perpetuities in Context, Professor Lawrence M. Friedman has created a masterful exploration of what I would refer to as “perpetual testamentary structures” or what planners consider “dynastic trusts” in addition to foundations private charity. Source link

Axos Clearing, the clearing and custody arm of Axos Financial, has brought on Gil Addeo as senior vice president of business development, a newly created position. Addeo joins from FIS, a banking and payments technology provider, where he served as managing director of FIS's commercial lending division. Addeo will report to David Crow, executive vice…

KKR recorded $3 billion in sales in targeted products for the private wealth channel—up from $400 million in quarterly sales in 2022. Morningstar released an explainer on the growing world of mutual funds. These are among the investment must-reads we found this week for wealth advisors. WealthManagement.com Staff | April 16, 2024 Source link

Client assets at Merrill Wealth Management reached a record $4.5 trillion in the first quarter of 2024, up 14% from the same period last year, according to company earnings. This was despite a slowdown in net new customers compared to “big growth” in the first quarter of 2023. Connected: TD Ameritrade integration boosts Schwab's Q1…

Produced by Sponsored by Discover valuable insights from the latest research conducted by Wealth Management IQ on behalf of Cambridge Investment Research, Inc. Discover a landscape of optimism surrounding rising firm valuations, supported by favorable market conditions. Despite initial concerns, the M&A scene boomed throughout 2023, with numerous firms seizing transaction opportunities. Expectation is building…

Editor-in-Chief Susan R. Lipp weighs in on the contents of this month's issue. Source link

• Treasury Proposes Regulations Regarding Charitable Residual Retirement Trust (CRAT) Transactions –The Treasury proposed recently regulations (proposed registries) (26 CFR Part 1 (REG-108761-22) RIN 1545-BQ58) that would characterize certain CRAT investments as listed transactions, which have mandatory disclosure requirements for both participants and their advisors. Treasury issued the proposed rules in response to the investment…