Headlines

    Apple Considered BMW’s i3 As Model To Make Its Own Electric Car

    bidnessetc.com article by Martin Blanc

    According to Manager Magazin’s report, published on Friday, last year, Apple Inc. (NASDAQ:AAPL) approached German automaker BMW to provide expertise to make an Apple electric car.

    The publication revealed that the CEO Tim Cook visited BMW’s i3 vehicle production facility in Leipzig to get an insight on the electric car-manufacturing. It was also outlined … Read More

    Notes from Jon Stein on How to be a Better Advisor

    Belay Advisor story by Steve Sanduski, MBA, CFP

    Jon Stein, Co-Founder and CEO of Betterment, tells how he co-founded the company and built it into one of the fastest growing and most innovative investment firms in the country. It’s a great story about how a smart guy with a timely idea can marshal the resources and build a company that … Read More

    How Citigroup Courts Wealthy Young Heirs: Teach Them to Buy Art

    Bloomberg article by Margaret Collins

    One evening last month at Citigroup Inc. in downtown Manhattan, a group of 20-somethings spent $95,000 in a bidding war for a black-and white photo tapestry of the fashion model’s face. They were confident that the work by the prominent New York artist Chuck Close was worth the price.

    That’s why there was a collective … Read More

    Janet Yellen is Ready to Raise Rates

    MarketWatch article by Carolin Baum

    Federal Reserve policy makers are hoping, even praying, that no unexpected domestic development or international crisis intervenes to prevent them from taking the first baby step to normalize interest rates at the Sept.16-17 meeting.

    Why? Fed officials point to a number of reasons: the unnatural state of a near-zero benchmark rate; the potential risk of … Read More

    Reasons To Believe That Stocks And The Economy Have Better Days Ahead

    Forbes article by Robert Barone

    It’s reasonable to ask whether you should continue to be bullish on the U.S. economy and equities when the media continue to emphasize a plethora of troubling issues including a flat lining manufacturing sector, an energy sector that is still contracting, and a new host of government taxes and regulations (from federal, state, and local Read More

    5 Essential Life Documents For Common Law Couples

    Forbes article by Judy Martel

    A trip down the aisle rewards couples with more than the glow of wedded bliss. They also enjoy a variety of legal and financial advantages that are not available to unmarried couples.

    “There are roughly 1,100 benefits afforded to married couples involving all facets of life, from not having to testify against a spouse to … Read More

    The Art Market Frenzy: The New Gold?

    New Yorker article by Peter Schjeldahl

    Life has been happier for many of us in the art world since we stopped caring about runaway commerce in art, which has seemed—but only seemed—to reduce all measures of aesthetic value to raw price.

    Sure, the billion-plus dollars shaken loose, since May, at three New York and London auctions of modern and contemporary … Read More

    5 Money Mistakes Even the Super Wealthy Make

    Forbes article by Molly Triffin

    You can cruise around in a convertible and sip Moët like it’s Perrier, but a high net worth doesn’t automatically grant you a high FQ (financial quotient).

    “People tend to assume that wealthy individuals must either be pretty darn fiscally smart in order to make that much money in the first place—or they are able … Read More

    Robo-Advisor May Help Schwab Return To Profit Growth

    Investor’s Business Daily article by James Detar

    Charles Schwab (NYSE:SCHW) is slated to announce second-quarter financial results Thursday before the market opens. It was the first full quarter in which investors could enroll in Schwab’s new robo-advisor service.

    The service lets customers invest in a portfolio of exchange traded funds managed largely by a computer algorithm.

    Wall Street is looking … Read More

    What the IRS is Doing to Catch Taxpayers Who Fail to Take Required Minimum Distributions From Their IRAs

    Forbes article by Ashlea Ebeling

    Is the Internal Revenue Service doing enough to catch taxpayers who fail to take required minimum distributions from their IRAs? Not according to a new report by the Treasury Inspector General for Tax Administration, which calls on the IRS to “proactively” reach out to taxpayers on this issue.

    “People are making mistakes, but they aren’t … Read More

Features

The Independent Empire Strikes Back: Giant LPL Moves 800-Lb Gorilla into the Robo Advisor Sphere

With close to half a trillion dollars on the books, scale is no problem. The next phase is clearly about letting automation do the heavy lifting so affiliates can compete more savagely for assets in play.

With 4,000 advisors and 3,000 other industry people concentrated in Boston this week for LPL’s annual conference, you don’t need a microphone to figure … Read More

Following Fake Client Orders Gets Advisor Banned: Has YOUR Firm Been Hacked?

Communications protocols exist to protect careers as well as clients. As hackers ramp up their game, it’s more important than ever to run every transaction by the book.

The scam that suckered David Paul Santos into wrecking his own career boils down to a variation on data “fishing” schemes that firms like his warn investors against all the time.

The … Read More

Top Rapper 50 Cent May Lose Mansion As Bankruptcy Bid Misfires

Classic hole in the asset protection framework leaves what was once a $500 million empire exposed to substantial legal liabilities. If he can’t find the cash, liquidating the house probably won’t bring tears to his eyes.

When the fourth-richest hip hop artist in history declares bankruptcy over some dubious business and personal decisions, it’s a pretty good bet the lawyers … Read More

J.D. Power 2015 U.S. Financial Advisor Satisfaction Study

Advisor Loyalty Declines Due to Compensation and Leadership Concerns

There is an undercurrent of dissatisfaction among advisors as loyalty to their investment firm has declined, due in part to changes with compensation and a lack of confidence in firm leadership, according to the J.D. Power 2015 U.S. Financial Advisor Satisfaction Study released today.

The study measures satisfaction among both employee … Read More

IRS Backs Down on $2.5 Billion of Billionaire Bill Davidson’s Estate Tax Bill

SCINs are clearly in as credible tax planning tool. Now even the auditors give Detroit sports mogul’s bizarre estate plan high marks.

A few days ago the IRS quietly folded a long-standing claim that Detroit industrialist and basketball fan Bill Davidson’s heirs owed $2.9 billion on a fortune that might have been worth $3.5 billion at its peak.

They’re accepting … Read More

Greek Gamble: The People Have Spoken but the Euro Clock has Run Out

Political brinksmanship effectively guaranteed a losing scenario for the investors. Now the Greeks can chart their destiny, but investment strategies that depend on pre-programmed assumptions need to unwind fast.

We knew Greece was going to default when Alexis Tsipras scheduled his referendum nearly a week after its most recent debt payment was due.

Once the national vote was on the … Read More

Schwab Robo: Liberation for Advisors or Client-Stealing Trojan Horse?

Hoopla around nominally free portfolio population and rebalancing tools exposes deep divide between self-directed “mass affluent” and high-net-worth advisory cultures.

Charles Schwab’s advisor-focused “robot” portfolio program only went live last week and hard industry lines are already forming between people who are convinced it’s an evolutionary leap and those who think it’s an extinction event.

On one side of the … Read More

2016 Superdonors Take Sides On Estate Tax: Is Hillary Caught In The Middle?

Massive money is flowing toward any Republican candidate who will kill the federal death tax. The Clinton campaign faces challenges from the left and risks alienating the only swing voters who remain in the middle.

At this point, we can probably figure out how just about every American billionaire will vote in the next presidential election. Public lines have already … Read More

Food Network Giant Bobby Flay On $20M Meathook Over Stale Prenup

Ten years after the marital contract, the hotshot cook has become a restaurant phenomenon. But if his soon-to-be-ex-wife really contributed to his success, the prenup may be well past its expiration date.

Unlike a lot of celebrity millionaires, Bobby Flay at least tried to protect his Food Network wealth when he married third wife Stephanie March a little over a … Read More

Hello Caitlyn, Good-Bye Wheaties: $500 Million Backlash Begins

Potential advertisers and one-time allies move to the sidelines after gala debut, leaving reality star adrift. Good lessons here for advisors who need to regenderize a high-profile client on the go.

The Twitter feed is the pulse of cash for the Kardashian-Jenner family, so an appraisal of the financial impact of father Bruce evolving into Caitlyn Jenner has to start … Read More

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