Portfolio

Most young and mass market clients still turn to traditional firms, but a shift toward app-based accounts is under way, according to Broadridge data.

Joe Skarda, who was previously managing director of JPMorgan Chase’s U.S. wealth management central division, will oversee a unit that houses Key’s private bank, family wealth and mass affluent business segments.

The new rate, up from the current 37%, would encompass less than 1% of taxpayers, a White House official said.

Despite a competitive fight among wealth managers for advisors, clients and industry AUM rankings, most practices are very small businesses — and some advisors want them to stay that way.

It’s a significant pivot for the robo advisor, which has historically advocated passive, ETF-driven investing.

Advisor Group, Raymond James, LPL, New York Life, Stone Point Capital, and other news and moves of the week in the financial advice world.

The White House’s sweeping proposal to raise taxes on the wealthy will likely force advisors to get creative as they structure sales of their practices.

The litigation reveals how wealth managers’ deals with product sponsors work and how one with a former Voya unit went awry.

The administration’s American Families Plan includes a bump in the top tax rate to 39.6%, but doesn’t specify thresholds for different types of filers.

Aside from their rock-bottom fees, those with the largest gains have at least one commonality: asset allocation.