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

The Planning Commission in North Kingstown, R.I., debated requiring a surety bond for future decommissioning of a large solar project. The company building the project proposed a $500,000 bond with the option to replace it with another financial instrument in the future.

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Planning Commission
12/12/2018

Companies acquiring construction firms need to ensure contracting licenses will transfer and be maintained, two attorneys write. In many states, such licenses are not transferable, and companies could face penalties for continuing work on existing projects, the attorneys write.

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JD Supra
12/12/2018

Companies working on public-private partnership projects need to make sure they properly allocate design and construction risk, an attorney writes.

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JD Supra
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.