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Renewed Treasury focus on estates could mean tax hikes for rich
NEWS REGULATION AND LEGISLATION MAR 15, 2021
Renewed Treasury focus on estates could mean tax hikes for rich

Planned projects in the area that were cut back under the Trump administration would restrict access to tools for reducing estate tax bills.

Verizon to tap debt market to pay $36 billion tab on 5G airwaves
INVESTING FIXED INCOME MAR 12, 2021
Verizon to tap debt market to pay $36 billion tab on 5G airwaves

The largest U.S. wireless carrier splurged on airwaves in an attempt to catch up to rival T-Mobile in developing new 5G wireless services.

Goldman plans $10 billion initiative to support Black women
YOUR PRACTICE WOMEN ADVISOR COMMUNITY MAR 12, 2021
Goldman plans $10 billion initiative to support Black women

The program, which includes $100 million going to philanthropic efforts, has the goal of affecting the lives of 1 million Black women by 2030.

Wells Fargo stops using Abbot Downing name for high-net-worth unit
NEWS WIREHOUSES MAR 12, 2021
Wells Fargo stops using Abbot Downing name for high-net-worth unit

The bank's business of managing ultra-rich clients' money will be moved under the Wells Fargo Private Bank brand.

SEC warns investors about buying SPACs endorsed by celebrities
NEWS REGULATION AND LEGISLATION MAR 10, 2021
SEC warns investors about buying SPACs endorsed by celebrities

The agency cautioned against investing in blank-check companies based on endorsements from pro athletes or famous musicians.

SoFi to buy California lender as part of push into banking
YOUR PRACTICE FINTECH MAR 10, 2021
SoFi to buy California lender as part of push into banking

Social Finance says its acquisition of Golden Pacific Bancorp will aid its efforts to obtain a national bank charter.

Global securities watchdog targets greenwashing
INVESTING ESG MAR 09, 2021
Global securities watchdog targets greenwashing

The International Organization of Securities Commissions plans to propose sustainability disclosure standards that could serve as the basis for national requirements.

DFA shifting $26 billion of mutual funds into ETFs
INVESTING MUTUAL FUNDS MAR 04, 2021
DFA shifting $26 billion of mutual funds into ETFs

Quant giant Dimensional Fund Advisors has laid out a timeline for converting funds into exchange-traded funds.

Climate activist takes aim at Vanguard
INVESTING ESG MAR 03, 2021
Climate activist takes aim at Vanguard

The campaigner who was instrumental in pushing BlackRock to act against climate change is now taking aim at Vanguard Group.

Elizabeth Warren, other progressives propose ‘Ultra-Millionaire’ tax
RETIREMENT TAX MAR 01, 2021
Elizabeth Warren, other progressives propose ‘Ultra-Millionaire’ tax

The measure would impose a 2% annual tax on households and trusts valued at between $50 million and $1 billion; all net worth over $1 billion would be taxed at 3%.