Portfolio

A federal appeals court has reversed a Tax Court decision in favor of an unmarried couple, finding the mortgage debt limit provision in the Tax Code applies on a per-taxpayer basis and allowing each of them to deduct mortgage interest up to the $1.1 million limit.

Hillary Clinton has rolled out a plan to make college affordable that her presidential campaign has dubbed the New College Compact, enabling students to pay for higher education without taking out costly student loans.

Fidelity National Information Services, a provider of banking and payments technology, agreed to buy software maker SunGard Data Systems in a deal valued at $9.1 billion, including the assumption of debt.

Clients may want to consider the impacts of headline risk on securities before pulling out of municipal bond investments.

Clients can avoid risk by replacing low-yield bonds in their portfolio with high-dividend stocks; plus how and when clients should apply for Social Security and why parent education loans can ruin your clients' retirement.

Pimco has overcome the departure of bond trader Bill Gross and a record period of outflows from its funds may be on the verge of ending, said Munich-based Allianz, the company’s owner.

Concerns about over-regulation and accusations of industry cynicism led the opening of the Labor Department's hearings on its proposal to impose fiduciary requirements on retirement advisors.

Brokerage industry leaders told Labor officials that the plan's contract requirements will compel them to drop less-affluent clients who want to retire.

The Bronfman-Highline deal is the 74th RIA M&A transaction this year, and is unlikely to be the last for the firm going forward. "We love this business…and we have capital," says Matthew Bronfman, chairman.

The acquisition of Yodlee, considered PFM's pioneering firm, would cement Envestnet's capability to serve an emerging demand for data aggregation and leveraging data insights and behavioral science in wealth management.