Practice

Beacon Pointe Wealth Advisors announced the addition of its third advisor partner, $130 million AUM RIA Wealth Management Network of Newport Beach, Calif. today. This marks the third deal in the last year and a half for national advisory partnership firm BPWA.

A circuit court judge in Virginia dismissed a suit that charged BNY Mellon with overcharging the state’s pension fund for foreign exchange transactions. The dismissal came after the Virginia Retirement Systems announced a renewal of a services contract with BNY Mellon.

The fiscal cliff. Deteriorating fundamentals. Volatility. Is the market about to fall? No one knows, but we know it is just a matter of time. How will you keep your clients happy when the next bear market comes?

So, you are working in a wirehouse now, how does independence look for you if you launch your own RIA?

Just as the cobbler's children go without shoes, two-thirds of independent advisors ignore succession planning. Such advisors could fall into an “annuity trap,” watching the value of their business degrade as they near the exit from their practice.

WASHINGTON — The Financial Stability Oversight Council will meet Nov. 13 to consider reform to money market mutual funds, the Treasury Department said Thursday.

President Obama said Friday he is asking the bipartisan leadership of the Senate and House of Representatives to come to the White House next week to begin negotiations to avert a set of tax increases and spending cuts that will automatically take effect in January if Congress fails to act.

It may be some time before Congress and the Obama administration decide what to do about the tax rates for next year, so it’s a good idea to plan for various alternative scenarios just in case.

The election results, while no surprise, have pretty much left us where we were in terms of tax policy, according to Roger Harris, president of Padgett Business Services.

With the election over, when members of Congress return to Washington next week, the task awaiting them will be to hammer out what has been an elusive compromise on taxes and expenditures to avert the so-called fiscal cliff, a combination of tax increases and deep spending cuts set to take effect in January should lawmakers fail to act.