Practice

What advisors should know about setting up an independent practice.

Understand the importance of fostering trust in client and professional relationships in order to create a stronger business.

The Minnesota Society of Certified Public Accountants recently surveyed its CPA members in public accounting on the most outrageous tax deductions clients tried to take on their tax returns. Their responses included everything from pets and weddings to cars impounded by the police.

The three-advisor team generated more than $2 million in annual revenue before making the move.

The IRS warned tax preparers and other tax professionals to be on guard against bogus emails seeking updated personal or professional information.

The fiscal 2016 budget includes proposals to limit the value of itemized tax deductions for IRAs and 401(k)s and other expenses to 28%.

The group has expanded into Seattle, following entries into New York, San Francisco and Los Angeles.

A U.S. probe into how Morgan Stanley client information ended up for sale on the Internet is examining whether a financial adviser was targeted by hackers after he took data from the bank, two people briefed on the inquiry said.

The robo advisor plans to add 90 to 120 new employees and add resources to Betterment Institutional, which already works with 90 advisory firms.

A U.S. probe into how Morgan Stanley client information ended up for sale on the Internet is examining whether a financial advisor was targeted by hackers after he took data from the bank, two people briefed on the inquiry said.