Results for "trusts"

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Cases affect planning for gays

June 23, 2013

The Supreme Court could throw out the federal law that bans gay marriage as early as today in one of two decisions due from the nation's top court in the coming days involving same-sex marriage. The 1996 federal Defense of Marriage Act, which...

CEO vows B-D will maintain independence

June 16, 2013

Nicholas Schorsch, a dynamo in the nontraded-REIT business, is adamant that he will keep his hands off the operations of a leading independent broker-dealer, First Allied Securities Inc., which he and his team of managers agreed to acquire last...

Former CFO of a Thompson REIT slapped for weak due diligence

June 16, 2013

A former chief financial officer of noted real estate investor Tony Thompson's nontraded real estate investment trust has been suspended for five months from the securities industry for failing to conduct adequate and independent due diligence...

Questions raised about Allied Beacon's financial health

June 2, 2013

Allied Beacon Partners Inc., a midsize independent broker-dealer with 200 registered representatives, informed its financial advisers last Wednesday that the firm is in violation of industry rules requiring that sufficient capital be kept on...

Five IBDs in $7M settlement over nontraded-REIT sales

May 26, 2013

Sales of nontraded real estate investment trusts once again have come under the scrutiny of securities regulators as William Galvin, the secretary of the Commonwealth of Massachusetts, last week announced settlements with five leading independent...

AIternative alterations

May 19, 2013

Amid increasing pressure from regulators, broker-dealers are making changes to how they sell some alternative investments. Berthel Fisher & Co. Financial Services Inc., VSR Financial Services Inc. and Cetera Financial Group Inc., which has four...

Hitting the bottom line

May 12, 2013

Tax guru Natalie B. Choate is of counsel in the trusts and estates department of Nutter McClennen & Fish LLP. She's the author of “Life and Death Planning for Retirement Benefits” (Ataxplan Publications, 1996), a guidebook on estate planning...

Tax risk: Trust gains have additional levy

May 12, 2013

Trust and estate planners are zeroing in on another potential tax risk for wealthy clients: income generated by a trust. The higher tax rates mandated by the American Taxpayer Relief Act of 2012 for individuals earning more than $200,000 a year...

Risky (tax) business: Trust income has additional levy

May 8, 2013

Trust and estate planners are zeroing in on another potential tax risk for wealthy clients: income generated by a trust. The higher tax rates mandated by the American Taxpayer Relief Act of 2012 for individuals earning more than $200,000 a year...

IPA sets valuation guidelines

May 5, 2013

The Investment Program Association, the leading trade group for nontraded REITs, is addressing the thorny issue of how to place a value on nontraded real estate investment trusts. Guidelines released by the IPA last week call for faster and...

Budget plan hard on high-net-worth

April 14, 2013

President Barack Obama dealt financial advisers a double whammy in his 2014 budget proposal last week, proposing changes to how high-income clients save for retirement and how they pass on wealth to their heirs. The president's $3.78 trillion...

Giving spree seen complicating taxes

April 7, 2013

With the April 15 deadline for filing tax returns fast approaching, financial advisers face a deluge of tax returns involving substantial gifts — a vestige of clients' giving spree due to their tax uncertainty late last year. Doubt about the...

Gay marriage would shake up benefits game

March 31, 2013

Client tax returns, insurance policies and wills are just a few of the documents that advisers are thinking they might have to throw away and rewrite if the federal law that bans gay marriage is overturned by the Supreme Court. The scenario...

Investors up in arms over Cole's quick kick of $5.7B offer

March 24, 2013

Chris Cole painted himself into a corner last week when — in a 24-hour period — he received and rejected a $5.7 billion takeover bid for his nontraded real estate investment trust, Cole Credit Property Trust III Inc. In that corner, Mr....

REIT spurns rival's offer, pursues its own agenda

March 24, 2013

In a move likely to confuse and perhaps anger some financial advisers, Cole Credit Property Trust III, a nontraded real estate trust, rejected an unsolicited offer to be acquired by a rival REIT and instead reiterated its plan to acquire its...

Shareholders dog top nontraded REIT

March 17, 2013

The largest nontraded real estate investment trust, the $10.8 billion Inland American Real Estate Trust Inc., last Wednesday said some investors are alleging that its management failed in its fiduciary responsibility, resulting in false valuations...

Nontraded REIT Cole in deal with sponsor, manager

March 10, 2013

One of the giant nontraded real estate investment trusts, Cole Credit Property Trust III, plans to buy its asset manager and sponsor company, Cole Holdings Corp., and will make an upfront payment to management and its founder, Chris Cole, of...

LPL ordered to pay $2M in restitution

February 10, 2013

LPL Financial LLC was hit with an order last week by the Massachusetts Securities Division to pay restitution of more than $2 million to investors who bought shares of nontraded real estate investment trusts. Massachusetts regulators also hit...

Cole gets big payoff in nontraded-REIT deal

January 27, 2013

Another sizable nontraded real estate investment trust will provide some liquidity to its investors, this time through a merger with a large traded REIT. Management at Cole Credit Property Trust II, which has $3.7 billion in real estate assets,...

LPL beefing up its compliance in wake of Massachusetts suit

January 27, 2013

In today's tough regulatory climate for broker-dealers, with watchdogs routinely whacking firms with large fines, broker-dealer executives may be imagining a securities regulator or two under their beds when they nod off at night. Recent decisions...

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