On paper, extended succession plans, like Merrill's recently announced CTP, are not the same for retiring advisors as for heirs. However, the reality is more nuanced. Merrill is not alone in offering a retirement program like CTP. All four offices have similar programs (also referred to as sunset deals or internal legacy deals), each designed…

(Bloomberg) — The wealth of ultra-wealthy families is likely to grow to $9.5 trillion by 2030, according to estimates from consultancy Deloitte, as family offices grow and morph into rival hedge funds. According to the report, the figure would mark a 73% increase from the current $5.5 trillion controlled by people represented by family offices….

(Bloomberg) — Bank of New York Mellon Corp. is further expanding into the rapidly growing retail property market by acquiring Sagittarius technology firm to handle the infrastructure and delivery of managed accounts for financial advisors and their clients. The acquisition of Berwyn, Pennsylvania-based Archer will also help BNY market its investment strategies and custody banking…

Wealth Enhancement Group, a Minneapolis-based registered investment advisor, has acquired Levy Wealth Management Group, LLC, a Philadelphia-based hybrid RIA. Levy's team oversees more than $1.3 billion in client assets and is led by President Victor Levy, Chief Operating Officer and Wealth Advisor Michael Clatterbuck and Wealth Advisor Joseph Robostello. It is WEG's ninth location in…

Over the past two years, equity markets have faced some of their biggest headwinds in decades due to the Federal Reserve's continued efforts to curb inflation through higher interest rates. Today's economic backdrop has the US moving from a low-inflation environment to one with higher nominal GDP growth and more systemic inflation. Strategic portfolio allocation…

NewRetirement, a digital-first financial planning platform, has changed its name to Boldin. “We've changed our name to reflect our hope for our customers: That you can be financially secure enough to be bold in life, whatever that means for you,” the company's updated website says. Related: Finny and Accelerating Great AdvisorTech of company and sitewhich…

As one of the wealthiest individuals on the planet, Warren Buffett's public disclosure of some of his estate planning earlier this summer no doubt attracted plenty of interest. In addition to gaining insight into what will happen to one of the world's largest assets, there was also some valuable insight for clients at all different…

Congress will return for a short session this month before adjourning on September 28 for the election. As voters prepare to head to the polls, the top tax policy question is whether tax legislation will pass before the election. The chances of the House and Senate reaching an agreement before November are slim. House Tax…

LPL Financial is acquiring The Investment Center, a NJ-based firm with about $9 billion in brokerage and advisory assets, independent b/de announced today. LPL intends to close and convert the Investment Center acquisition in the first half of 2025. Related: $4 billion Former Lincoln teams join LPL from Osaic “This acquisition is a milestone that…

On August 21, 2024, the Internal Revenue Service published proposed changes to regulations under Section 2056A of the Internal Revenue Code related to QDOT. Generally, there is no marital deduction for property that passes to a non-citizen spouse. However, IRC Section 2056A provides that a QDOT (a certain type of marital trust) will qualify for…