by
Ray Fazzi
The Securities and Exchange Commission has proposed new rules that
define when an advisory firm is a "family office" and exempt from
regulation under the Investment Advisers Act of 1940.
When veteran financial advisor Barbara Pietrangelo reaches out to
prospective clients, she makes a fashion statement. Literally.
Philip Falcone won big on subprime mortgages. But his hedge fund plunged as the economy slowed, and now he's trying to recover with his biggest bet ever.
While this year's lapse in the estate tax hogs the spotlight,
a lesser-known gap is offering many affluent older people a tax-free
way to pass on some of their wealth to grandchildren.
by Bloomberg News
Works by Andy Warhol and Damien Hirst will lead
contemporary-art sales in London next month that may raise at least $76 million and test a fragile market recovery, dealers
said.
Citadel LLC is considering cutting fees on its two main funds as it
attempts to attract clients during the worst climate for raising money
in two decades, according to sources.
The families of wealthy people who died early in 2010 are starting to
confront a confused set of deadlines in this rare year of no estate
tax.
Twin Focus Capital Partners is turning a vision of fundamental economic upheaval into an investment vehicle.
Citigroup has promoted Catherine Weir to head its new global
family office group, rededicating itself to a business that was once
part of its former Smith Barney brokerage.
Advising the ultra-wealthy may have more to do with clients' attitudes than their assets.
Financial education for younger family members is often a lower
priority for wealth managers than issues such as asset management and
estate planning.
While everyone knows that the wealthy have more capital gains than
others, what's less known is how closely tied those gains are to age.
New York hedge funds are starting to explore the idea of moving to Connecticut to avoid higher taxes on some of their managers.
Silver Bridge, a Boston-based independent wealth manager, announced it
has agreed to acquire H&S Financial Advisors, a San Francisco-based
wealth advisory boutique.
The crackdown on offshore tax evasion has officially moved beyond UBS AG, and Switzerland.
With optimism slowly returning to the private equity business, some private banks see opportunity.
Family-office recruiters are seeing a pick-up in activity after a bad year and a half.
A Supreme Court ruling has stepped up a controversy between those who want to
patent tax strategies and those who want them banned.
With the estate tax expected to roar back in 2011, the practice of making big taxable gifts is gaining appeal right now.
Wealthy Americans have held back on spending so far in
June, probably due in part to negative financial news.
