UBS Urges Families to Break the Silence On Inheritance

    Inheritance is not being discussed at the dinner table. But it should be, according to UBS Wealth Management Americas’ quarterly UBS Investor Watch report (see links at end).

    The report found that nearly half (46%) of benefactors have not discussed their inheritance plans with their children. And only 34% have revealed their wealth. More discussions lead to better and happier … Read More

    Why Philip Seymour Hoffman Didn’t Leave His Fortune to His Children

    Yahoo! Celebrity article by Suzy Byrne


    Philip Seymour Hoffman did everything in his power to make sure his children were “normal.”

    When the Capote actor died of a heroin overdose in February, he left the bulk of his estate to his partner, Mimi O’Donnell, and added the unusual request that their offspring be raised outside of Los Angeles. According … Read More

    Understanding the Philosophy Behind Your Investment Portfolio

    NYT article by Paul Sullivan

    Picking a financial adviser who understands what you want has never been easy. Broker or independent adviser? Lone wolf or team player? Holistic planner, numbers-crunching investor or backslapping golfer?

    While always tough, the decision must now be more self-reflective: Do you understand what investment model your adviser is using and know if he or she … Read More

    Wealth Management Unit Helps Morgan Stanley Deliver Strong Q2 Performance


    The country’s largest banks have all comfortably beaten expectations this earnings season thanks to an uptick in global debt trading activity in June. But Morgan Stanley’s outdid its peers by reporting a net income figure which was nearly double that for the same period a year ago. Earnings for the period were, in fact, 26% higher than those for … Read More

    Securities America to Acquire Assets of Sunset Financial Services

    Securities America will add 268 advisors, $2.4 billion in client assets and $18 million in gross revenue

    Securities America, a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT: LTS), announced a definitive agreement to acquire certain assets of Sunset Financial Services, Inc., a full-service broker-dealer, from Kansas City Life Insurance Company (NASDAQ: KCLI).

    Sunset Financial Services has approximately 268 … Read More

    Madoff Associates Should Get Significant Prison Sentences

    Reuters News by Bernard Vaughn

    Five former employees of disgraced investment manager Bernard Madoff should be sentenced to “significant” prison sentences of up to 20 years or more, prosecutors said in a court filing on Friday.

    “The five defendants here, along with others, were the people who allowed Madoff’s fraud to succeed as wildly as it did,” prosecutors with U.S. … Read More

    Taking a Broker to Arbitration

    NYT article by Tara Siegel Bernard

    If you have a problem with your investment broker and you cannot resolve the dispute on your own, you probably won’t get your day in court. But you will be heard, most likely in a conference room somewhere, before a panel of arbitrators.

    The moment people open a brokerage or investment account, they most … Read More

    Merrill Lynch Wealth Management Profit Strained by Expenses

    Reuters news by Jed Horowitz

    Bank of America’s continuing investment in its Merrill Lynch wealth management business caused expenses in its global wealth sector to grow more quickly than revenue in the second quarter, the company said on Wednesday.

    The accelerating expenses and a string of declines in new money under management caused profit in the Global Wealth and Investment … Read More

    UBS Keeps Top Spot in Ranking of World’s Wealth Managers

    Bloomberg News by Giles Broom

    UBS AG (UBSN) led a ranking of the world’s biggest wealth managers for a second straight year as asset growth more than doubled among the top 209 firms, a study showed.

    Assets under management at the Zurich-based lender rose 15 percent to $1.97 trillion, cementing its No. 1 spot in the ranking by Scorpio Partnership, … Read More

    Attracting the Next Generation is the Wrong Asset Retention Strategy

    Opinion from: The Client Driven Practice by Stephen Wershing

    This post is inspired by the always informative Michael Kitces this whose recent post on this topic is something I discuss with many of the advisors I work for.

    Should you try to retain your clients’ assets when they pass away and leave those assets to the next generation by recruiting … Read More


TAMPs On Fire: New Data Shows Advisors Hot for More Managed Account Solutions

A few years ago, managed accounts had hit a wall. Now the top providers have all the new business they can handle – and early adopters are already reaping the rewards.

It took a little time, but now it feels like everyone in the advisory industry has realized that mere survival is a poor runner-up when you have a chance … Read More

Despite Extreme Wealth, Hillary Clinton’s Estate Planning Feels a Little “Working Class”

The Clintons have gone from White House to riches over the last decade but last year’s disclosures reveal nothing more sophisticated than a residence trust and a lot of cash. Truly well off families can do better.

Hillary Clinton stepped in a PR snake pit a few weeks ago by trying to distance her ultra-high-net-worth tax burden from the breaks … Read More

Boot Camps Show Advisors How to Land Large Accounts

You can’t fly with the eagles until you’re in fighting trim. Cutting-edge wealth training platform helps advisors shape up for the moment a new generation of clients comes calling.

The Center for Wealth and Philanthropy says about a trillion dollars will transfer between generations every year for the next 50 years. That’s a million million-dollar accounts, turning over every 12 … Read More

Scope and Specialization Battle for Trust Technology Crown

Wealth managers and family offices looking to scale are leaning toward platform-oriented tech partners, but in-house integration still has its fans. Either way, convergence is king.

Once upon a time, all the back office had to do was run well enough to keep all the accounts straight. From the look of the industry today, that’s a fairy tale now.

Modern … Read More

Get Ahead of the Industry Convergence Curve and Thrive

All the factors are coming together to reunite formerly isolated wealth management channels, approaches and office functions. Is your operation embracing the future or hanging back in a world of silos?

Once upon a time, money managers relied on the multiplication of niche markets and products in order to achieve scale and eventually, they hoped, operational efficiencies.

It was a … Read More

From Stradivarius to Rare Stamps, Collectible Assets Can Leave Heirs in IRS Lurch

Precious violin fails to clear the auction block while the pride of John du Pont’s estate took four years to sell at half the whisper price. Meanwhile the tax meter keeps running.

For the richest people on the planet, collecting art and rare objects is a time-honored way of making sense of what would otherwise be an abstract number of … Read More

Light My Fire: The Doors’ Royalties Never Seem To Burn Out 43 Years after Jim Morrison’s Death

Lizard king’s last living heir is 90 years old now, reopening questions of who will eventually inherit his image and share of a musical dynasty that currently generates millions of dollars a year.

Even when rock stars create more-or-less conventional families, the lines of dynastic inheritance can still break down within a generation or two.

In theory, Jim Morrison, made … Read More

20 Years After the Bronco Chase, How Did O.J. Simpson’s $5 Million Asset Protection Strategy Pay Off?

With an untouchable pension and around $14 million in assets still missing, the now-unemployable fugitive will probably never pay the ultimate losers: the Brown and Goldman families.

When O.J. Simpson’s house went on the auction block last year, some might have considered it a small bit of belated poetic justice.

But it also slammed the door on the chances that … Read More

Perfect Storm Brewing for Disney Descendants as Multi-Generational Family Bonds Fray

Nearly 50 years after Walt’s death, a $600 million slice of his entertainment empire is up for grabs as heirs and advisors square off for control.

Estate planners looking to build truly dynastic structures to protect client wealth need only look to recent developments in Walt Disney’s legacy for best- and worst-case scenarios.

The animation king made sure a network … Read More

Rich Investors Love Their iPads, Are You on the Top of Their Screens?

Mobile computing is only one of the leading edge technologies beckoning your clients and competitors alike to adopt.  Get inside intelligence on what other advisors are doing in our upcoming webinar, along with tips on how to get ahead of the curve.

A lot of advisors can’t shake the assumption that high-net-worth families live in a Jazz Age bubble and … Read More

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