Wealth management

The House has approved a comprehensive financial reform bill, albeit with a number of key provisions weakened in recent days.

IMGCAP(1)]A lot of the lessons learned from the past year’s credit crisis are pretty basic. Don’t spend more than you earn. Don’t invest in risky opportunities. Don’t inflate your balance sheet.

The House voted to set the inheritance tax at 45 percent permanently for estates larger than $3.5 million.

The Virginia Society of CPAs has produced a free Financial Fitness Calendar for next year.

Financial education provider Financial Finesse has launched a new Web site to promote financial literacy.

The Financial Industry Regulatory Authority has fined Terra Nova Financial $400,000 for making more than $1 million in improper “soft dollar” payments to hedge fund clients for accounting expenses, estate planning fees and more questionable expenses.

Consulting firm Capco has introduced a North American Wealth and Investment Management Group to help build the wealth and investment management capabilities of various types of financial firms.

With last year's financial market turmoil slowly fading in the rear-view mirror, what can forward-looking CPA financial advisors conclude about the performance of their broker-dealers during the upheaval?

BETTER ADVICE COULD REDUCE RETIREMENT PLAN FEES

Perhaps the most critical goal of professional portfolio management is to allocate client assets in such a manner as to achieve appropriate diversification.

Although I wasn’t born with a silver spoon in my mouth, and I would have to get very lucky very soon to be concerned with the estate tax rate, it has always seemed an unfair proposition to tax a person or business when it is most vulnerable.

When it comes to their retirement, 50-somethings seem to be in a state of denial about how long their retirement savings will last, according to a new study.

Financial planning trade groups have written a letter to congressional leaders protesting an amendment that would extend the regulatory authority of the Financial Industry Regulatory Authority to cover investment advisers who are associated with broker-dealers under FINRA authority.

Congress decided last year to waive required minimum distributions from retirement savings plans for 2009, but there is still some confusion about how to apply the waiver.

INVESTORS SOON FORGET FINANCIAL CRISIS LESSONS

With over $3 trillion in cash values, life insurance ranks second only to the mutual fund industry in magnitude. And though its use has expanded dramatically, particularly in sophisticated planning scenarios, it is rarely evaluated once put into place. Most people consider it a "static asset" that requires little maintenance. Nothing could be farther from the truth.

Washington, D.C. - Individual investors' confidence in the U.S. capital markets is stabilizing this year after dropping precipitously between 2007 and 2008, according to a survey by the Center for Audit Quality.

Raymond James Financial Services is increasing the minimum level of assets under management that it requires new registered investment advisors affiliated with its Investment Advisors Division to hold, from $30 million to $50 million.

Automatic enrollment for employees in 401(k) plans appears to significantly increase participation, but may not be suitable for all retirement plan sponsors, according to a new government report.

Despite the uncertain market conditions and negative headlines of the past year, most Americans who participate in employer-sponsored defined contribution plans continue to support them, according to a new survey.