Practice

Five years after Citigroup became a symbol of all that was wrong with big banks, the country's third-largest bank appears to be bracing for a new round of scrutiny into its ethics.

Detroit agreed to pay $77.6 million to UBS and Bank of America's Merrill Lynch unit to end interest-rate swaps that have cost taxpayers more than $200 million since 2009, according to a court filing in the city's bankruptcy.

“Executives today don’t want a higher position so much as a broader position," says Kathy Freeman. "They want to be stretched and challenged, and they want an opportunity to grow."

Prenups can help HNW clients and heirs in case of divorce or death, but advisors must avoid offending these spouses-to-be.

In 2013, they produced an average of $381,411 in revenue for their financial institutions, up 31% from the previous year.

A $300 million settlement by JPMorgan Chase & Co. and insurers with homeowners who accused the bank of taking kickbacks in exchange for sticking them with overpriced insurance policies was approved by a judge.

U.S. regional banks see favorable growth prospects in Canada. Its limited number of banks seems to invite competition, and its regulatory and economic climates are considered more favorable than those in the U.S.

Increased tax rates have made it more costly to sell appreciated assets, so it may be better to make charitable or family gifts. Specified selling strategies can also help keep HNW clients from max-tax territory.

After watching people struggle to afford a nice retirement hone, Annette Martin decided to pursue a second career to help.

The idea of having the Post Office offer basic financial services has prompted much disagreement-here are the pros and cons.