Portfolio

For RIAs who want to ensure clients that their firm will endure to serve their children and grandchildren, a robust internal succession plan is critical. One way to do that is to eliminate outside ownership conflicts, argues the founder and CEO of one leading RIA firm.

The Evercore Wealth Management Macro Opportunity Fund, a diversified mutual fund offering, is closing after just a little more than a year on the circuit.

Focus Financial has snapped up a big Seattle wealth management firm.

Envision Financial Systems, Inc., has improved its mutual fund subaccounting system for broker/dealers with a new update.

Nancy Grady has joined Northern Trust as Head of Fund Administration and Fund Accounting-Americas, overseeing fund accounting, regulatory administration, financial reporting, tax and other services for registered and unregistered mutual fund products.

“It’s a good time to be an advisor,” said IRA Expert Ed Slott. “There’s a tremendous opportunity now because you have certainty.”

Independent Financial Partners, a Tampa, Fla., based registered investment advisory firm, has launched IFP Insurance Group.

Michael Mauboussin, chief investment strategist at the Legg Mason Inc. unit that’s home to Bill Miller, left the firm last week.

The impact of last week’s tax accord in Congress -- officially known as the American Tax Relief Act of 2012 -- is likely to be far wider and more complex than many have imagined. And many of these complexities will directly impact financial advisors.

In the wake of the newly-passed American Tax Relief Act of 2012, it’s likely many wealthy clients will continue to make large family gifts. If they are giving away hard-to-value assets, they might consider following a tactic from the Wandry case, decided by the Tax Court in 2012.