Preserving wealth across generations is a fundamental goal for many high net worth individuals and families (HNWs). Central to achieving this goal is navigating the complex estate tax landscape and utilizing strategic financial planning tools, such as permanent life insurance. Let's explore the current state of estate taxes, upcoming changes to the sunset of high…

Despite the prevalence of mental health issues in society and their vital importance to estate planning trust administration, the topic remains taboo. “Mental disorders are defined as health conditions that affect and alter cognitive functioning, emotional responses, and behavior associated with distress and/or impaired functioning.”1 Without an honest conversation about the challenges a client or…

• Internal Revenue Service issues SAFE Act regulations—On July 18, 2024, the Treasury and the IRS published final regulations (the final rules) under section 401(a)(9) of the Internal Revenue Code regarding required minimum distribution (RMD) requirements with respect to plans and accounts of retirement. These final rules incorporate the changes made by the Designating Every…

UBS is facing a lawsuit over its money laundering programs, the latest from several firms, including LPL, Wells Fargo and Ameriprise, named as defendants in similar litigation. South Carolina resident Kelly Goldsmith filed suit against UBS in New York federal court this week, alleging that she was a client with retail brokerage accounts managed “on…

AlphaTrAI, a technology consultancy and technology provider to the wealth and asset management industries, acquired Anchor Advisory Services, a sales planning and management technology firm, this week. Terms of the deal were not disclosed. Pronounced “Alpha-tray”, with the letters “T” and “r” standing for “through” (Alpha through AI), it is headed by Bill Dwyer, known…

Artificial Intelligence Risk, Inc., a provider of governance, risk, compliance and cybersecurity (AI GRCC) software, announced this week the launch of a new AI financial regulatory consulting service aimed at helping companies at all stages of adoption of AI. Matt Spencer will lead the consultancy and focus on helping companies optimize their financial and regulatory…

Mergers and acquisitions often mark the beginning of a transformative journey, filled with incredible opportunities and challenging headaches. Few industries offer more attractive potential for M&A than wealth management, a fragmented sector where performance, processes and personnel must constantly operate at peak efficiency. For financial advisory firms, regardless of size or type, acquisition preparation is…

EP Wealth Advisors, a Torrance, Calif.-based registered investment advisor with $26.2 billion in assets under management, has added its first chief people officer. Megan Glover joins the firm from SMBC MANUBANK, a Los Angeles-based bank, where she served as managing director and chief human resources officer. She will be based in Torrance. In the new…

non-negotiable business development companies have raised $21 billion year to date in 2024, according to the latest monthly data from Robert A Stanger & Co. It is the third year in a row that the segment has exceeded 20 billion dollars. Overall, Stanger tracks alternative investment funds (including non-traded REITs, non-traded BDCs, mutual funds and…

RBC Wealth Management has added a team of nine advisors and associates to its new Cincinnati branch. The Paradigm Group, which has about $693 million in client assets, is joined by Morgan Stanley. The team includes five advisors: Kyle McLaughlin, managing director and private wealth advisor; Joseph Goetzinger, senior vice president and financial advisor; Robert…