Trust clients expecting to deduct bundled fees to the limit of the law may need to find providers who can break down fees as the IRS requires. Two years ago, the US Supreme Court in Knight v. Commissioner held to be eligible to deduct investment management fees in a trust, they cannot be grouped together or bundled with […]
About Scott Martin
Scott Martin has been tracking various aspects of the financial industry since 2001 for publications like Research, Buyside and Institutional Investor. Previously, he was a market writer for CNN. As an advocate for the trust industry, he has testified to the Nevada Senate Committee on Commerce, Labor and Energy on issues of national competition. He is also active as a marketing and editorial consultant for registered investment advisors.
Posts by Scott Martin:
Full-service banks are still fighting headwinds, but business is booming in their trust departments. More specialized trust companies are making a lot of money. It was another bumpy season for the big banks, but when you drill down into the numbers, the trust business is ramping up in terms of both activity and profits. Most […]
Looking for a job in the trust industry with a high base salary and lots of perks? Jobs are abundant once again, but product knowledge and sales skills are essential. The long recession froze hiring budgets throughout the financial industry, but now the trust business is thawing as firms staff up for the growth cycle. […]