Wealth Management Morning Memo

NOVEMBER 18, 2017

TRUMP TAX REFORM

Why the Senate’s Tax Reform Bill May Be Most Relevant

Sandra G. Swirski

Given the tight timeline for passing tax reform, Senate Republicans may have to jam their bill through the House, with controversial items in place.

INDUSTRY

Merrill Lynch Adjusts Comp Plan to Spur Growth, Entice Advisors to Stay for The Long Haul

Michael Thrasher

The brokerage increased the payout opportunity for advisors to transition clients as they near retirement, among other changes.

ETFS

Early Warnings of a Stock Slip

Brad Zigler

The junk bond early warning klaxon seems to signal trouble ahead for stocks.

HIGH NET WORTH

Why Super Affluent Families Are Flocking to Jackson Hole, Wyo.

Melvin A. Warshaw

Private family trust companies aren’t required to register with the SEC.

ETFS

New Blockchain ETFs Investing in Pick and Axe, Not Gold

Diana Britton

Two new ETFs, focused on Blockchain, filed with the SEC, look to give investors exposure to firms building or using the technology.

ESTATE PLANNING

IRS Announces New Compliance Programs

Gregory C. Walsh

Many of the campaigns target international taxpayers and financial institutions.

LIVE FROM THE SCHWAB IMPACT CONFERENCE

Schwab IMPACT: SEC Should Consider B/D-Only Rules

Diana Britton

Investment advisors prefer that the SEC leaves the Investment Adviser's Act fiduciary duty alone.

LIVE FROM THE SCHWAB IMPACT CONFERENCE

United Capital’s Playbook for Winning Against Consumer Players

Diana Britton

CEO Joe Duran provides advisors with six rules for competing against the Vanguards of the world.

LIVE FROM THE SCHWAB IMPACT CONFERENCE

Schwab IMPACT: Hire Better!

David Armstrong

Talk of a firm’s “culture” is all hot air until those values find traction in the most important decision a growing firm can make: who to hire and how to pay them.

PHILANTHROPY

Gift Tax Considerations for Crowdfunding

Martin M. Shenkman, Bernard A. Krooks and Jonathan G. Blattmachr

Crowdfunding websites aren’t in the business of providing tax advice.