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    Headlines

    Janus CEO: Bill Gross Invested $700 Million of His Own Money in Janus Fund

    Denver Business Journal article by Heather Draper

    Janus Capital Group CEO Dick Weil confirmed that bond manager Bill Gross has invested $700 million of his own money into his Janus Global Unconstrained Bond fund.

    “Bill [has] invested more than $700 million of his personal money … he believes in eating his own cooking,” Weil told analysts during the company’s fourth-quarter … Read More

    Outsourced Investment Providers Ready To Roll With Volatility

    Between the failure of active management to add value last year and the whipsaw trading we’ve seen so far in 2015, it’s gotten a lot harder to justify running most asset classes in house. Is this the season the TAMPs take the upper hand?

    A full 87% of all large-cap equity managers — one of the simplest and cheapest corners … Read More

    A Theme in Davos: Fear of Financial Instability

    NYT article by Jack Ewing

    Fear is back in the valley of the privileged.

    Financial instability is again a prime source of anxiety for participants at the World Economic Forum after receding last year. Russia and Ukraine, cheap oil, volatile currency markets, deflation, terrorism and even Switzerland are unsettling the global economy and sowing nervousness among the people attending the … Read More

    What to Do Tax-Wise in January to Make Sure You’re on the Right Track

    Main Street article by Robert Flach

    January is not too early to get your taxes in order, and here are two of MainStreet’s recommendations to stay on track for the IRS.

    1. Resolve to become more educated and informed about income taxes

    It is impossible to know the right moves you should make in your daily financial life without a … Read More

    Fox TV to Debut New Show ‘Strange Inheritance’ on January 26

    FOX Business Network announced it will debut ‘Strange Inheritance,’ a new primetime story-driven reality series hosted by Jamie Colby, on Monday, Jan. 26, 2015, at 9 p.m. ET.

    The series examines real-life stories of unconventional inheritances and will appear Mondays-Thursdays, with new episodes debuting every Monday and Tuesday, said Bill Shine, Senior Executive Vice President, FBN and FOX News Channel … Read More

    Harvard Law Professor’s Attack on Unconstitutional Perpetual Trusts Continues

    Wills, Trusts & Estates Prof Blog post by Gerry W. Beyer

    Steven J. Horowitz (Associate, Sidley Austin LLP) and Robert H. Sitkoff (John L. Gray Professor of Law, Harvard University) recently published an article entitled, Unconstitutional Perpetual Trusts (PDF DOWNLOAD).

    Provided below is the abstract from the article:

    Perpetual trusts are an established feature of today’s estate planning firmament. … Read More

    Morgan Stanley Sets New Goals Amid Wealth Management Turnaround, Trading Woes

    Forbes article by Antoine Gara

    Morgan Stanley CEO James Gorman hit important milestones in 2014, including a 20% pre-tax margin for the bank’s wealth management division, which accomplish many of the targets he initially laid out when taking the reins of the bank in the years after the financial crisis.

    Now, Gorman is setting new goalposts for Morgan Stanley’s future … Read More

    Arnold Schwarzenegger, Richard Branson to Speak at Cayman Islands Alternative Investment Summit

    Event to Explore the Rising Importance of Alternatives, Asset Allocation Trends and Models, Latest Innovations, and the Dynamics of Alpha Generation

    The Cayman Alternative Investment Summit, an internationally recognized event bringing together the world’s leading institutional investors, will provide opportunities for attendees to learn from and network with global alternative investment leaders. The event takes place from 8:00 a.m. Thursday, … Read More

    Cetera Financial Group Commences Expansion of Trust Capabilities for Advisors

    Network of Independent Broker-Dealers Launches Build-Out of Best of Breed Trust and Fiduciary Services Providers by Partnering with BOK Financial Corporation

    Cetera Financial Group (Cetera), a leading network of independent broker-dealer firms, announced a new strategic partnership with BOK Financial Corporation (BOK Financial), which will enable Cetera Financial Group-affiliated financial advisors to offer expanded trust services and support clients with … Read More

    Las Vegas Trust VIP Heads to Bank of The West

    Theresa Le, noted and experienced trust officer reported on social media that she’s moved over to Bank of the West in Las Vegas

    According to sources, Bank of the West intends to gain a more fuller presence in Las Vegas, along with the many other trust companies in recent days who have set up shop there and in Reno to … Read More

Features

Liz Warren on the Defensive: Why a Multi-Millionaire Scorns Wall Street

Regulation-hungry senator’s declining net worth reveals a profound lack of trust in financial markets. Will her personal aversion to risk force an entire industry to embrace the drag, much less change the 2016 political landscape?

The recent buzz around how much money Elizabeth Warren has in the bank only shows how polarizing a figure she’s become since she came to … Read More

Obama Plan to Lower Middle Class Tax at Expense of Rich is Non-Starter for GOP

Proposed tax hike on highly appreciated inherited assets gives wealthy families and their advocates a chill. Certain forms of trust arrangement have started looking better than ever.

Rumor has it President Obama is going after inherited money to pay for new middle-class programs, but early chatter has already exposed the White House’s misunderstanding of how “trust funds” work.

It seems … Read More

Can Harold Hamm’s Trust Legally Cover His $900M Divorce Check?

Details in the shale oil king’s SEC filings raise tough questions about what happens to his billions now that his trust has picked up the biggest settlement in history.

We couldn’t help but notice that the name on the check matched the signature, which raises an 11-digit question for Hamm’s heirs.

As it turns out, the oil company is held … Read More

The Best and Worst Trust Companies for Advisors in 2015

Now that truly independent trust companies are shaking up the financial landscape, some vendors have hit a strategic wall. It’s time for the giants to wake up and for “me too” advisor-friendly firms to further differentiate or die. 

When we started mapping the independent trust industry, it was hard to find a dozen firms willing to commit to sharing the … Read More

Predictions for 2015: 10 Wealth Management Trends to Watch

The biggest clients will keep stumbling but the triple punch of industry evolution, high-tech innovation and the market’s wall of worry should help Trust Advisor readers keep their edge over the next 12 months.

If 2014 turned out to be less volatile than anyone in the advisory industry suspected when the year began, any seasoned observer should find it ominous … Read More

Robin Williams, Joan Rivers, Philip Seymour Hoffman: Why Some Stars Left More Durable Legacies

Estate planning graduated from niche topic to an essential bit of the Hollywood buzz this year as fans mourned star after star. We can all learn from the failures and take comfort when there’s money to support the families left behind.

Next year’s Academy Awards ceremony is just over the horizon and it’s already clear that the annual memorial list … Read More

Tony Robbins RIA Career Implodes: Was the Motive Management or the Money?

Weeks of industry revolt convince the king of the coaches to backpedal on plans to “partner” on an advisory venture. Once again, the mass market remains unmoved.

For a little while, Tony Robbins seemed ready to solve the puzzle of bringing investment advice to the middle class and unlocking $1.6 trillion in untapped assets.

Talks with his advisory buddies about … Read More

Wall Street Slams the Door on Obama Presidency, Leaving Hillary in the Cold

Lame duck administration gives big business Republicans two years of relative freedom from external interference. Most of the real money is already hunting someone who can go toe to toe with Hillary Clinton in 2016.

Follow the money over the last six years and you can watch the hedge fund billionaires who initially embraced Barack Obama pull away from “change” … Read More

Warren Buffett Drops Tax Dove Facade When His Deals Are On The Line

Berkshire Hathaway continues to squeeze every dollar out of the IRS to juice long-term performance while the boss lobbies for tougher rules on everyone.

The greatest investor of all time has made it very clear over the years that while he’ll argue fiercely for higher tax rates, the IRS will have to fight him for every cent when it comes … Read More

Mike Nichols Proves Even Unconventional Careers Can Earn the Last $140 Million Laugh

After six decades of show business, three divorces and expensive hobbies, master of romantic comedy leaves a great marriage and a healthy fortune behind.

It might be the crowning achievement of Mike Nichols’ understated comic style that days after his death, the Internet is exploding with absurdist rumors that he was the highest-paid director in Hollywood, worth a cool $140 … Read More

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