Wealth Management
Top stories summarized by our editors
12/11/2018

Wall Street banks are scrutinizing US financial and economic data for any early warning of a recession in 2019. JPMorgan Chase puts the odds of a recession next year at 35%, while Bank of America sees a 20% to 30% chance.

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JPMorgan Chase, Bank of America
12/11/2018

Industry and consumer groups are attacking the National Association of Insurance Commissioners' proposed annuity sales rule. One critic said it doesn't tell agents how to comply, while another said it doesn't help regulators prevent the sale of annuities that aren't in consumers' best interest.

12/11/2018

Charitable gift annuities allow donors to receive annuity payments in exchange for a monetary or property donation to a charity, writes Brian O'Connell. Among the advantages are an immediate tax deduction and the potential for some of the annuity income stream to be tax-free, he writes.

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TheStreet
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Brian O'Connell
12/11/2018

Deloitte offers 10 predictions for the financial-advisory industry heading into 2019. These include the rise of the hybrid model, a move toward a fiduciary model and the modernization of back-office processes.

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Deloitte
12/11/2018

Clients with a net worth of around $1 million are at what Dryden Pence calls a tipping point, "where one or two correct moves can make all the difference." He discusses four wealth tipping points and how advisors can help clients devise successful strategies to address them.

12/11/2018

A Maryland court recently found an estate's special administrator "lacks the authority to defend a lawsuit or litigate actions on behalf of an estate." Attorney Beth Fox discusses the details of the case and how it serves as "a cautionary tale on prioritizing creditors."

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WealthManagement
12/11/2018

People grieving the loss of a loved one need sympathy from friends and relatives, but not the "grief bomb" of bad financial advice, writes Dan Danford, CFP®. Danford recommends five financial steps for grieving people, such as paying urgent expenses first and refraining from making major financial decisions until they've determined what their "new beginning" will be.

12/11/2018

The Treasury Department has proposed regulations that would offer greater certainty about a decedent's basic exclusion amid the threat of clawbacks when the estate tax threshold returns to its 2017 level, which is set to happen in 2026, write Randy Gardner, CFP®, of Goals Gap Planning and Leslie Daff of Estate Plan. The downside of the proposal, however, is that "if the decedent owns any property after 2025, the decedent will automatically owe estate tax on the property a​t the applicable rate (currently 40 percent)," Gardner and Daff write.

12/11/2018

The Financial Industry Regulatory Authority's recent examinations of financial professionals uncovered deficiencies in the sales of variable annuities, nontraded real estate investment trusts and private placements. "We hope the observations within the Exam Findings Report enable firms to strengthen their own control environments and address potential deficiencies before their next exam," FINRA CEO Robert Cook said.

12/10/2018

The tiered structure of the capital gains tax rate offers several planning opportunities, particularly for the newly retired, writes certified financial planner Joe Elsasser. He explains how some people may be able to take advantage of a 0% rate.

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Joe Elsasser