IP Guru Says This Picture Is Worth $1 Billion To Samsung, What About Your Clients’ Family Albums?

    Ad Age article by Mark Bergen

    Apple-Samsung phone camera wars may have fueled a temporary bubble in the photo licensing arena but the Oscar “selfie” shows that intellectual property can be extremely valuable — and that trusts that hold it need nimble management.

    It was the tweet heard around the world, but was it worth $1 billion?

    That was the … Read More

    Hello Kids–or Goodbye Assets

    WSJ Wealth Adviser article by Norb Vonnegut

    Weath managers need a formal plan to connect with clients’ children

    Do you have a master plan for keeping your clients’ coming-of-age children as…well, as clients?

    I didn’t really have one. That was a mistake.

    The average adviser is around 50 years old, and the average client is a few years older. That … Read More

    Morgan Stanley Profit Soars on Wealth Management, Trading

    Reuters news by Lauren Tara LaCapra and Anil D’Silva

    Morgan Stanley reported a 55 percent jump in first-quarter earnings as higher revenue from its institutional securities business augmented another strong quarter from wealth management, sending shares in the Wall Street bank higher.

    The sixth-largest U.S. bank by assets reported net income applicable to the company of $1.45 billion, or 74 Read More

    Forbes: The Top 50 Wealth Managers

    From Forbes

    There’s no denying the rapid growth in the wealth management world, and our annual Top 50 Wealth Managers list is proof the industry continues to boom.

    The Top 50 Wealth Managers oversee a combined $224 billion in assets. That’s roughly 15% of the entire RIA market.


    Still Booming: Top RIAs Keep Getting Read More

    New Law Makes Tax Preparers Obamacare Advisers

    Newsmax article by Courtney Coren

    Tax preparers and accountants now have the job of making sure their clients are educated about Obamacare’s tax implications.

    “Many people don’t realize it’s the law, and you have to have insurance,” Iris Burnell, a Jackson Hewitt Tax Service adviser, told The New York Times. “They still think there’s a way to worm out of … Read More

    Ruling Near on Fiduciary Duty for Brokers

    WSJ article by Daisy Maxey

    Some See Clues to a Standard for Brokers’ Investment Advice

    The debate over a new level of protection for investors in their dealings with brokers may finally be nearing a resolution. And some investor advocates worry about the direction it seems to be taking.

    The debate centers on whether brokers should be required to act … Read More

    Nuveen To Be Bought by TIAA-CREF in $6.25 Billion Deal

    Chicago Tribune article by Becky Yerak

    Madison Dearborn bought Nuveen, then publicly traded, in 2007 at the height of the buyout boom for $5.8 billion.

    TIAA-CREF plans to buy Chicago-based Nuveen Investments for $6.25 billion, a deal that gives local private equity firm Madison Dearborn Partners the chance to at least break even on a transaction it made in 2007 … Read More

    Chances of Getting Audited by IRS Lowest in Years

    Associated Press article by Stephen Ohlemacher

    As millions of Americans race to meet Tuesday’s tax deadline, their chances of getting audited are lower than they have been in years.

    Budget cuts and new responsibilities are straining the Internal Revenue Service’s ability to police tax returns. This year, the IRS will have fewer agents auditing returns than at any time since … Read More

    Stephen Colbert: Your Sponsor-Skewering, Young-Skewing ‘Late Night’ Host

    Ad Age article by Nat Ives

    CBS has named Comedy Central’s Stephen Colbert to take over for David Letterman as host of “The Late Show” next year when Mr. Letterman retires.

    The news caught many people off-guard, coming as quickly as it did after Mr. Letterman’s surprise announcement last week that he was ending his decades-long run as a late-night … Read More

    The Private Trust Company Reaches $1 Billion in Personal Trust Assets

    Press Release via PR Web

    The Private Trust Company, N.A. (“PTC”), a wholly owned indirect subsidiary of LPL Financial Holdings Inc., announced a significant milestone for the company of surpassing $1 billion in personal trust assets, placing it among the financial services industry’s 30 largest banking institutions in the country, based on total fiduciary assets reported to the FFIEC in Read More


Mickey Rooney’s Money Barely Outlived Him After Doctors, Family and Lawyers Took Their Cut

One-time Hollywood king died with $18,000 in assets, squabbling heirs and plenty of bills to show for nine decades in show business. Estate planners need to plan harder for life’s surprises or else even star clients risk disaster.

Mickey Rooney started working the vaudeville stage when he learned to walk. He was still working when he died last week.

But … Read More

CNN’s Anderson Cooper Disinherited from $200 Million Vanderbilt Estate

No trust fund for the TV news icon raises questions that everyone should be asking: how much does 90-year-old Gloria actually have left and where will it actually go?

The once-private Anderson Cooper has been making waves telling people that his branch of the Vanderbilt dynasty no longer considers inherited money anything but a “curse.”

He revealed last week that … Read More

Big TAMP Firm FolioDynamix Grabs GlobalBridge for Bank Trust Sweet Spot

Banks that have already outsourced their wealth management programs now have access to a broader trust-to-retail platform. Advisors coming onboard report happy clients and plenty of room to add AUM.

Outsourcing the wealth management function used to be a niche proposition, but the latest developments at platform provider FolioDynamix reveal how the niche has become the new mainstream.

On the … Read More

Nevada Becomes Must-See Tax Haven For Silicon Valley Investors

Crossing the state line to create trusts has become essential for California tech tycoons as well as high-net-worth families elsewhere in the country.

While the East Coast establishment has marveled at the rate at which Nevada emerged as a new destination for New York wealth, the real story here may be closer to home.

Silicon Valley billionaires pay high state … Read More

Mick Jagger’s Girlfriend Leaves Will with Everything for Rock Star but Her Life

While the rock star is getting most of his money back, he’d probably rather undo his suicide girlfriend’s death. Her family feels completely shut out.

Part of the tragedy of L’Wren Scott’s recent death is that despite substantial net worth on paper, her estate really only boiled down to a multi-million-dollar loan to Mick Jagger.

He bought her the condo … Read More

Unlicensed FINRA Arbitrator Raises Audit Questions

If the regulator didn’t double-check its own arbitrators’ credentials, how can investors trust its ability to audit brokers and other client-facing professionals?

It turns out that the James H. Frank who settled close to 40 securities industry disputes was not the attorney that FINRA thought he was.

Frank told the regulator that he was licensed to practice in several states … Read More

Yankees Legend Alex Rodriguez Owes His Lawyers $3 Million

If A-Rod has an asset protection trust, it would be ironic if the same legal superstars that set it up locked themselves out of the ability to take their own client to court.

Alex Rodriguez has gone from the top-paid player in baseball history to fighting just about everyone in his orbit in order to get the Yankees to let … Read More

Burnt-out Actors Find Renewed Fame, Hefty Pay Pitching Reverse Mortgages to Elders

Aging actors pitch reverse mortgages on late night TV, but a growing number of experts say these vehicles can truly be legit financial planning tools.

In an ad for the American Advisors Group, Fred Thompson, formerly of Law & Order and the U.S. Senate, saunters up Main Street, Anytown, calling reverse mortgages, “an effective way for folks like you to … Read More

How To Keep Tax-Sensitive Clients Satisfied

Active tax management gives advisors an advantage when it comes to boosting total returns as well as satisfying non-performance-based investor expectations.

The theory is that advisors who can systematically apply tax-sensitive tactics to a passive portfolio have the ability to deliver richer short- and long-term real returns than their actively oriented competitors – a detail that generally impresses existing clients … Read More

Billionaire Buys Record $200 Million Life Insurance Policy

Although this is a brilliant marketing move for an ambitious family office, a true heavyweight could actually use more aggressive estate planning and income replacement.

Santa Barbara family office SG LLC is getting a lot of mileage out of putting together the biggest life insurance package in history, but the real question is whether the underwriters actually left money on … Read More

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