Advisors have been perplexed for years trying to find successful ways to maintain existing business when the current generation of clients dies. In fact, recent studies by TD Ameritrade and Pershing have shown that roughly 80% of individual retirement account (IRA) assets will be lost when a client passes away. Increasingly, investment advisors and custodians are being forced to look … Read More
Technology has become part of the problem for firms trapped in credit crunch systems. Turning it back into a solution requires proactive strategy.
Every piece of technology on your platform should be a tool that makes life easier in the here and now. In at least a small way, it should liberate your people to make progress on other tasks.… Read More
Posted by Scott Martin on December 5th, 2013
Client meetings are shifting out of the office and into paperless remote settings. Advisors who want to recommend trusts on the go finally have a way to carry all the data along.
The tablet computer is rapidly becoming the medium of choice for advisors who were always hungry for new ways to get in front of clients and prospects alike.… Read More
Posted by Scott Martin on December 1st, 2013
Three years after the star sued Sam Levin for $20 million worth of alleged incompetence, the high-powered entertainment manager is back in the game.
When we heard that the accountant Nic Cage blames for losing his fortune had joined one of the highest-profile accounting firms on the West Coast, it took a few minutes to get over the shock.
But … Read More
Posted by Scott Martin on November 27th, 2013
Multi-generational transfers have been part of the family’s financial DNA for years. But shifting that much money out of the divorce settlement is harder than it looks.
When the divorce papers start circulating, many wealthy couples instinctively look around for ways to move “their” assets out of the way of the inevitable settlement, so it wouldn’t be surprising if Kris … Read More
Posted by Scott Martin on November 26th, 2013
No matter which daughter he supports, the ultimate Washington insider risks tearing his $100 million legacy in half. Who said advising LGBT families was easy?
To hear high-profile lesbian Mary Cheney tell it, older sister Liz was fine with both her lifestyle choice and legal right to marry a woman until it became politically inconvenient.
Liz, who is now fighting … Read More
Posted by Scott Walshaw on November 24th, 2013
Avoiding mistakes that can result in prospective loss of business and unanticipated legal and regulatory expenses is critical. Self-directed IRAs and jurisdiction choice in particular are complex and require expert management.
As a former regulator, I often categorized “mistakes” by a licensee as either errors of commission or omission, with the former being considered as the more egregious and usually … Read More
Posted by Scott Martin on November 19th, 2013
Whether it’s math or maturity, the bulls’ best friend may be the strange absence of insanely exuberant targets this time the big benchmarks break records.
In case you spent yesterday in a coma, the Dow industrials brushed against 16,000 yesterday. The S&P 500 topped 1,800. And the Nasdaq is back within striking distance of 4,000 for the first time in … Read More
Posted by Noah Rosenfarb on November 18th, 2013
I sat down with with Peter Christman, the original exit planning coach to learn about exit planning strategies. In this interview we focused on:
- 3 things any owner can start doing right now to prepare for an exit
- 3 pre-sale tax and estate planning opportunities
- common mistakes owners make when discussing an exit strategy with their executives
- The best way
Posted by Roland McMillan on November 18th, 2013
Even if art ends up in the wrong museum after a war or natural disaster, the law is clear on who owns it and who has to pay tax when it changes hands.
George Clooney is generally considered a smart, lucky and well-connected guy, so it strained the limits of coincidence when recent headlines turned public opinion around on the … Read More
Posted by Scott Martin on November 12th, 2013
When wirehouses and gigantic broker networks dominate the list of attractive destinations for newly liberated advisors, what happens to the straight-to-RIA path?
But what does it mean when a lot of the potential breakaways look seriously at Merrill … Read More
Posted by Scott Martin on November 10th, 2013
Two years of intractable bickering result in a 50/50 settlement mere days before $13 billion liquidity event. Coincidence or necessity?
In barely a decade, Ashton Kutcher went from Demi Moore’s boy toy to a fairly influential venture capitalist, sparking the Twitter revolution along the way.
But when she caught him cheating, her claim on a piece of his portfolio as … Read More