Brokerages have until June 26 to decide if they want to take part in a pilot program allowing them to continue inspecting their branch office remotely; plus, the rundown on residential supervisory locations
Bias possible in IRS program for auditing refundable credit returns
The IRS said it agrees with the six recommendations from the Government Accountability Office to eliminate the bias.
Weekend Reading For Financial Planners (June 1-2)
Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that the Financial Planning Association and Money.com are planning to publish a “Best Financial Advisors” list based on advisors’ education, credentials, and experience, as well as harder-to-quantify areas such as trust factors and client communication. Going […]
PFS appoints independent chair
The Personal Finance Society has appointed experienced financial services CEO Piers White as its first independent chair, a new role created by the organisation following its internal governance review completed last year. Mr White will be joined on the PFS board by two new directors, while Christine Elliott will depart having served as the board’s […]
Isio launches illiquid assets platform
Pension consultancy Isio has launched a new platform to allow investors such as pension schemes to sell illiquid assets more efficiently. The company said it is responding to demand to sell illiquid assets, along with the difficulties sellers face doing so. It said desire to sell illiquid assets increased following the market volatility caused by […]
UBS makes Karofsky and Khan wealth co-heads in shakeup
Management changes expected to help in CEO Ermotti’s wealth management ambitions in the U.S.
8 in 10 savers support pensions overhaul
Eight in ten (83%) of UK adults would support a government review to see whether the current pension system is delivering adequate retirement income, according to a new report. The majority of those surveyed by Phoenix Group believed it is the government’s responsibility to ensure people achieve an adequate income in retirement. Seven in ten […]
Kitces & Carl Ep 139: When Have You Done ‘Enough’ For Clients (And How Do You Know)
Over the past couple of decades, the financial advice industry has seen a tremendous shift as the focus has evolved away from being primarily transaction-based and towards forming long-term service-based relationships with clients. Yet, one of the hurdles advicers have faced along the way is figuring out how to demonstrate the seemingly intangible value of financial planning […]
FTSE 100 exit expected for SJP after 26.5% share slump
Wealth manager and Financial Planner St James’s Place could drop out of the FTSE 100 in FTSE Russell’s next quarterly reshuffle. SJP could be demoted to the FTSE 250 on 4 June according to FTSE Russell’s indicative quarterly review changes published earlier this week. The wealth manager’s share price has fallen 26.5% in the year […]
Why “Deferred Sales Trusts” Can Be A Risky Way To Defer Taxes On A Business Sale
Small business owners often treat their businesses not only as their source of income during their working years, but also as an asset that can be sold to fund their retirement. And while many businesses can build up substantial value over the years, the downside is that, when that value is realized upon the sale […]