Wealth management

Market Players Push for Changes

Acknowledging that regulatory guidance to limit banks' concentration in commercial real estate has failed, Comptroller of the Currency John Dugan said Friday that the banking agencies will issue new, tougher standards.

Donor-advised funds have gained in popularity as more private foundations have seen the benefits of the funds over the complexities of running their own foundation.

Proposed legislation by the Securities and Exchange Commission to have single family offices register as investment advisors is part of the financial regulatory reform negotiations currently being debated in the Senate.

When going through a divorce, having just any financial advisor won't do. People need a planner who specializes in the subject and can help clients navigate the difficult emotional and financial terrain ahead.

While financial advisers have been relying on internal wholesalers more heavily since the financial downturn, they are also finding those contacts not as accessible or responsive as they would like.

How can advisors broach this touchy subject with Boomers?

The Michigan-based wealth management, CPA and business consulting firm is moving custody of its $2 billion-plus in assets under management.

All-time low interest rates and tight credit could make the family bank the lender of choice for the wealthy.

“You’ve taken all my money,” gunman said

One advisor warned that keeping clients happy should top performance chasing.

According to a survey, a majority of advisors say clients want financial planning advice.

As the race to rake in breakaway brokers continues to heat up, it seems that independent broker-dealers, are failing to spend on the areas of technology that matter most to independent advisors: customer relationship management and integration.

At a luncheon, which honored 13 women for their work with New York charities, BofA's Sallie Krawcheck talked about her devotion to the scholarship fund she set up for her childhood prep school.

Mission statements are meant to develop a purpose for family wealth that all members can support.

Over the past decade, the firm's mission has remained the same: to help women build confidence and an open dialogue around financial responsibility and knowledge.

More than one in four, 28%, of wealthy Americans with at least $500,000 in investable assets and annual incomes of $150,000 or more have or plan to cut back on charitable giving due to the economic climate.

Financial advisors are looking forward to 2010. In fact, 68% of advisers recently surveyed define their 2010 business mindset as one of acceleration and growth.

When people are afraid, they cut back on discretionary expenses, which is how most people view estate-planning services, one expert said.

Advisors believe many Americans could need double or triple their savings targets.