This is the result of an NASD investigation that revealed that between May 2001 through December 2004, Ameriprise sold approximately $1.1 billion worth of 529 college funds without adequately informing the 138,000 clients who purchased the funds that they could have received tax advantages if they had bought 529 plans in their home state. Ameriprise neither admitted nor denied wrongdoing.
Even if they must refer wealth families to a tax professional for a generation-skipping or dynasty trust, financial advisors can play a valuable role.
Jim Gold of Steward Partners thinks impending advisor retirements will continue driving smaller RIAs into M&A deals with big acquirers — even as AI turns many investors into "do-it-yourselfers."
Justin Brownlee started an RIA targeting energy, oil and gas employees. His hyperspecific marketing tactics have helped grow the firm into a thriving niche.
Fidelity Institutional Wealth Management Services faces competitive threats in an era of ETFs and multicustodian advisory practices. But it has big advantages.
A bipartisan proposal to create a 75-year sovereign wealth fund for Social Security is not promising, according to Boston College researchers.
According to a recent survey by Janus Henderson, 79% of clients said they would be upset to learn an advisor used AI without telling them.
