Wealth management

The president of Charitable Solutions LLC discusses how advisors can counsel clients about alternative ways to contribute to charities.

Nearly two years after a UBS wealth manager was found dead in her bathtub on New Year’s Eve, a New York court official has filed a wrongful death suit accusing the late Shele Danishefsky Covlin’s estranged husband, a former stock trader, of strangling his wife.

The principle behind the annual gift tax exclusion is to shelter gifts commonly made on birthdays, holidays, weddings and other special occasions. However, many high-net-worth individuals may also utilize the annual gift tax exclusion as a strategy to mitigate the impact of future estate taxes.

The principle behind the annual gift tax exclusion is to shelter gifts commonly made on birthdays, holidays, weddings and other special occasions. However, many high-net-worth individuals may also utilize the annual gift tax exclusion as a strategy to mitigate the impact of future estate taxes. According to Richard Behrendt, director of estate planning for Baird’s Private Wealth Management group, the timing of making year-end gifts is important because a transfer of property is treated as a completed gift for federal gift tax purposes only after the donor has unconditionally relinquished all dominion and control over the transferred property. Even if the donor has no intention of revoking (taking back) the gift, simply retaining the ability to revoke the gift through the end of the year could shift the completion of the gift into the next calendar year. Under the Internal Revenue Code, individuals may give up to $13,000 to an unlimited number of non-charitable beneficiaries in each calendar year. Married couples may double-up and make combined gifts of up to $26,000 to children, grandchildren, or other non-charitable beneficiaries. Here are six rules investors need to consider before making any year-end gifts.

Planners should pay close attention to a new U.S. tax statute that will take effect in the 2012 tax year that experts say could make it difficult for their clients to keep their American citizenship and their foreign-based assets at the same time.

Sometimes it just isn’t your year. And 2011 wasn't the greatest of years for some of the world's most iconic companies, particularly for tech firms such as Cisco Systems and HP that have delivered massive returns to shareholders for years. However, comparing these select 30 stocks’ performance against one another over a one-year period is hardly a comprehensive or “fair” method to evaluate each company’s long- or short-term prospects. For the year, the Dow is up just over 6%. They say success has a million fathers but failure is an orphan. Here’s hoping you or your clients were holding a large position in these Dow stocks this year. Also see: The 10 Best-Performing Dow Stocks of 2011

The accountant and attorney for the estate of a 104-year-old copper mine heiress who died earlier this year have been under investigation for their handling of their client's finances, and the accountant has now resigned as executor.

Only 30 stocks comprise the world’s most closely watched index – the Dow Jones Industrial Average – and its daily, weekly, monthly and annual gains (or losses) serve as a very handy – albeit simplistic – snapshot of investor sentiment and a decent barometer of how the U.S. and world economies are fairing. Of course, comparing these select 30 stocks’ performance against one another over a one-year period is hardly a comprehensive or “fair” method to evaluate each company’s long- or short-term prospects. There are far too many factors – good and bad – that influence any stock’s performance over a 52-week period. And to merely be a member of this exclusive group probably means the company is doing – or has been doing – something right for quite some time. Saying that, everybody loves a winner and if you or your clients held any of these top-performing Dow component stocks in their portfolios this year, there’s a pretty good chance they did quite well for themselves in 2011. For the year, the Dow is up just over 6%. Here’s an interactive slideshow featuring the 10 Best-Performing Dow component stocks of 2011. Also see: The 10 Worst-Performing Dow Stocks of 2011

Americans, particularly Baby Boomers, are more nervous about and unprepared for their retirement today than at any time in history. Survey after survey has found that people are delaying their retirements, planning to work during their retirement and scaling back expectations for their golden years. Here are 12 not-so-cheery facts that Baby Boomers and their financial advisors need to appreciate and address in the coming year to ensure they're properly prepared for the retirement they've always envisioned.

Every new year, many financial planners prompt clients to revisit and update their estate plans and wills. In so doing, they should begin teaching clients about a new – but critical – area of estate planning: attending to their digital legacies.

The nation’s estimated 17,600 bank advisors are as diverse as the U.S. itself. Here are 12 who were profiled in our magazine this year, each with different investment philosophies, market niches, and business development approaches. Their interests, too, are just as varied, making each producer stand out on many levels.

The time for watching and waiting is over. Twitter is a culture phenomenon and more and more financial advisors are setting up Twitter profiles and testing the waters to connect with existing clients, promote their services to potential new clients and share industry news and insight with their peers. Whether you are new to Twitter or seasoned vet, here are 10 tips provided by TJ Gilsenan, Web-Savvy Advisor, to help financial advisors get the most out of the platform:

Here are a dozen gifts (plus one) which could ruin your holiday spirit -- and pocketbook -- if FINRA decides you have crossed the line and been too generous.

Raymond James has added four firms with total assets of $410 million to its RIA division, said Mike DiGirolamo, senior vice president and managing director of the Investment Advisors Division of Raymond James Financial Services.

Here’s one way RIA firms can measure their firms’ success: they can see everything from where their revenue is coming from to total assets under management — benchmarked to other firms — the same way you’d look at dials on a car dashboard.

Washington Wealth Management, a breakaway RIA founded last December, continued its explosive growth by acquiring its third breakaway advisor in just the past three weeks, bringing it ever closer to $1 billion in AUM.

Legacy expert attorneys Andy and Danielle Mayoras say there’s no doubting the greatness of Martin Luther King Jr. However, he made a mistake common among millions of Americans: He didn't have a will.

Before putting a bow on 2011, advisors and their clients should take the time to nail down these four key aspects of their finances to ensure financial planning success in 2012, according to M&I, a part of the BMO Financial Group. Everyone wants to save money and prepare themselves and their families for the future. But that can only happen if clients establish well-defined goals and take the necessary steps to put advisors’ strategic advice to work. Here are the Top 4 end-of-year financial planning tasks every client needs to complete:

In nearly 90% of high-net-worth households, women are either the sole decision maker or equal partners in decisions on charitable giving, according to a Bank of America Merrill Lynch survey in conjunction with The Center on Philanthropy at Indiana University.

UBS zeroes in on five events that will happen in the upcoming year, five that may and five that won’t.