Headlines

    Poll: Gold Rushes for 12th Year of Gains, Record Seen

    Posted by Steven Maimes in Headlines on January 27th, 2012

    Gold’s record-breaking rally of the last decade is set to extend into this year and next as monetary policy stays loose and central banks build reserves, a Reuters poll showed on Thursday. 

    Silver is expected to decline for a second year running after hefty price swings spooked investors last year.

    The survey of 45 analysts carried out by Reuters in … Read More

    Davos Not for Everyone — Just Ask PIMCO’s El-Erian

    Posted by Steven Maimes in Headlines on January 27th, 2012

    I’ve never been to Davos, despite attempts by many over the years to persuade me to go. Don’t get me wrong. I understand that it is a special event for many people, and for many reasons. It is anchored by wide-ranging and engaging agendas, and participants get to mingle with a global cornucopia of important people. It is also the place … Read More

    Romney Tax Break Rejected as Welfare for Rich in Investor Poll

    Posted by Steven Maimes in Headlines on January 26th, 2012

    Most international investors say a tax break allowing private equity and hedge-fund executives to pay lower tax rates than many average Americans isn’t warranted, according to a Bloomberg survey.

    As the release of Republican presidential candidate Mitt Romney’s 2010 tax return heats up debate over a 15 percent top rate on so-called carried interest, two-thirds of those surveyed in the … Read More

    Romney’s Offshore IRA Raises Eyebrows

    Posted by Steven Maimes in Headlines on January 25th, 2012

    Like many Americans, Mitt Romney has an individual retirement account. Unlike most Americans, Mr. Romney has between $20.7 million and $101.6 million in it, a big chunk of his fortune.

    Experts on estate planning said it is highly unusual to accumulate such a considerable sum in an IRA, an investment vehicle restricted by annual contribution limits. It appears that Mr. … Read More

    Romney Would Be the Wealthiest President in U.S. History

    Posted by Steven Maimes in Headlines on January 24th, 2012

    Today’s release of Mitt Romney’ tax return for 2010 makes clear that if he becomes President of the United States, he would be among the richest individuals to hold that office.

    Romney reported adjusted gross income of nearly $22 million. Of that, $8 million was interest and dividends. In this current economic environment of low interest rates and minimal dividends,  … Read More

    The Trust Advisor Presents Special Trust Webinar February 14

    Posted by Scott Martin in Headlines on January 22nd, 2012

    According to the research firm Cerulli, the number of new trust companies operating nationwide has doubled since 2001. But how do advisors navigate this increasingly crowded space?

    The Trust Advisor will be conducting an online webinar on February 14 to provide a few answers.

    Seats are limited to the first 500 registrants and participation is free for Trust Advisor subscribers. … Read More

Features

Steve Jobs Doll Dead On Arrival after Showdown with Family and Estate Managers

Posted by Scott Martin in News on January 22nd, 2012

Case highlights importance of defining intellectual property in estate plans. Apple won this round, but the disposition of “personality rights” may be stickier than many advisors would like. Posthumous publicity is not protected in all states.

When a Chinese company came out with a Steve Jobs doll a few weeks ago, we weren’t surprised to see Apple’s lawyers shut it down … Read More

Mistresses and Broken Marriages Cost Arnold, Tiger and Kobe Millions: Wealth-Wise Tips for Spouses Thinking About Straying from the Nest

Posted by Scott Martin in News on January 15th, 2012

Infidelity is an age-old way for your clients to lose their wives and, in the wrong circumstances, their assets. The key, experts say, is to know their weaknesses — and have an asset protection plan in place before they give in to temptation.

Tiger Woods settled $100 million of his $600 million fortune on his ex-wife Elin and agreed to … Read More

Why Did LPL Financial Acquire Fortigent?

Posted by Scott Martin in News on January 8th, 2012

When the biggest independent broker-dealer bought Fortigent, industry gurus heralded the deal as a game changer for advisors everywhere. Here’s why.

Many commentators have described LPL’s purchase of investment management outsourcing firm Fortigent as a straightforward bid to muscle into the high-net-worth market.

After all, some of America’s biggest advisory firms rely on Fortigent to help them run about $50 … Read More

Like, Link, Share or Tweet: Most Advisors Think Social Media is a Big Distraction

Posted by Scott Martin in News on January 2nd, 2012

After a year of hype, very few financial professionals have seen any concrete benefit at all from their marketing efforts on Facebook, Twitter and elsewhere. Experts maintain that those who crack the code can reap big rewards. Is the industry doing it wrong?

A lot of the same advisors who leapt onboard the social media bandwagon in 2011 are getting … Read More

The Trust Advisor’s Predictions for 2012

Posted by Scott Martin in News on December 26th, 2011

As 2011 lurches to a close, everything from tax policy to core regulatory issues is up in the air. Wealth managers are understandably edgy about the almost total absence of visibility, but a few see these “interesting times” as an opportunity as well as a challenge.

Twelve short months ago, the stock market was still rallying and Congress had just … Read More

Surprise Kobe Bryant Divorce Could Cost Him $75 Million

Posted by Scott Martin in News on December 18th, 2011

Lack of premarital planning gives Vanessa even more financial leverage, and the fact that he was the one caught cheating left her with all the cards. Half his fortune is forfeit.

Vanessa Bryant was legendary among basketball fans as the iron-willed Yoko Ono of the Los Angeles Lakers, complete with ICE QN vanity plates.

But Kobe was only 22 when … Read More

Collecting Debts Owed by the Dead Becomes Big Business

Posted by Scott Martin in News on December 11th, 2011

Hard times have hatched a new breed of debt collectors with a specialty: harassing bereaved relatives and ex-spouses to pay debts incurred by the recently deceased on “moral” grounds, even when there’s no legal duty to pay.   

David Jonah, 58 of Snoqualmie Falls, WA, prided himself on his meticulous handling of his credit card debt and always paid off … Read More