Practice

The prospect of going back to the daily grind is going to be “a really tough pill for a lot of people to swallow,” an expert suggests.

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 firm slimmed down its headcount slightly, even as it saw an uptick in advisor-related revenues from fees and asset management.

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

The company upped its recruiting package last year, a change that has been “very well received by prospective advisors,” according to the CEO.

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.

Constantinos Maniatis exercised discretion in seven customer accounts despite the firm no longer allowing discretionary trading, the regulator said.