News Procedure & Administration By Alistair M. Nevius, J.D. In a letter to IRS Commissioner Charles Rettig on Wednesday, a diverse, bipartisan group of 60 members of Congress urged the IRS to extend the deadline for first quarter 2021 federal estimated tax payments to May 17. The estimated tax deadline has been an issue since […]
Archives for April 2021
Small custodians, big business
Advisor Sheila Padden never had a complaint with Charles Schwab, her custodian of five years. That is, until last year. Padden doesn’t have her own client service team and relies on one of Schwab’s call centers. It has historically been responsive; the company “tends to run a pretty tight ship,” she says. Around November, that […]
Happy Easter from Financial Planning Today
A very Happy Easter to all our readers and advertisers from everyone at Financial Planning Today. These have been difficult times but with the arrival of spring and Easter we hope better times are on the way and we hope you have a peaceful and relaxing time over the Easter holidays. Not long now until […]
IRS to automatically issue refunds on tax-free unemployment benefits
In good news for many taxpayers, the IRS said that, beginning in May and continuing through the summer, it will automatically issue refunds to eligible people who already filed a tax return reporting unemployment compensation before the recent changes made by the American Rescue Plan Act, P.L. 117-2 (IR-2021-71). Under this process, eligible taxpayers will […]
Shock as judge overturns Carey Pensions case
A Court of Appeal Judge has overturned a previous High Court ruling to side with claimant Russell Adams against Carey Pensions in the long-running and pivotal ‘Adams’ SIPP case. The case addresses the question of provider responsibility when accepting investments into a SIPP. In a judgement published today, the Court of Appeal unanimously overturned its […]
IWP acquires 3 Planner firms as expansion continues
Independent Wealth Planners (IWP) has acquired 3 Financial Planning firms, increasing its number of acquisitions to 22 since its launch two years ago. The 3 firms being acquired are: Aberdeenshire-based Buchanan & Associates, Moss and Roberts located in Norfolk and Buckinghamshire-based Principal Financial Planning. The deals will boost IWP’s assets under management by around £400m […]
63% of investors want environmental transparency
Almost two-thirds (63%) of investors want providers to be more ‘environmentally transparent’ about where they invest their pensions, according to a new report. Almost one in five (18%) consumers with savings, investments, and/or a pension placed the highest importance on financial services companies ensuring their investments have a long-term positive impact on society. However, while […]
Podcast: Education planning tips for 2019
In this podcast, Ross Riskin, CPA/PFS discusses college and financial aid planning tips from The Adviser’s Guide to Education Planning. He specifically addresses: Timing of tuition bill payments Determining retirement planning contributions Impact of allowances, including the education savings and asset protection allowance Access the related resources from this podcast: This episode is brought to […]
Redmayne Bentley launches digital-only MPS
Investment firm Redmayne Bentley has launched its first digital-only Managed Portfolio Service (MPS). The online MPS is for investors with over £20,000 to invest (or £9,000 for children within a Junior ISA) and will invest directly in individual equities, bonds and collective funds. The MPS is available with Redmayne Bentley’s SIPP, ISA, JISA and general […]
Archegos fallout exposes risks from less regulated family offices, says former SEC counsel
Family offices have grown in the U.S., but that segment remains lightly regulated — and that could be a problem for the financial industry, warned a former counsel at the Securities and Exchanges Commission. The risks posed by large family offices came under the spotlight after the multibillion-dollar Archegos Capital Management was last week forced […]