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UBS nominates Colm Kelleher as next chairman
NEWS WIREHOUSES NOV 20, 2021
UBS nominates Colm Kelleher as next chairman

The former president of Morgan Stanley will stand for election to succeed Axel Weber at the Swiss bank's annual meeting in April.

SALT cap boost in House bill likely to see changes by Senate
NEWS REGULATION AND LEGISLATION NOV 19, 2021
SALT cap boost in House bill likely to see changes by Senate

The House measure lifts the cap on state and local tax deductions to $80,000 from the current $10,000 limit, while a Senate proposal would cap the deduction based on income.

Carbon offsets have an integrity problem; COP26 may help fix that
INVESTING ESG NOV 19, 2021
Carbon offsets have an integrity problem; COP26 may help fix that

The agreement reached at last week's climate meeting may help boost confidence in the voluntary market for carbon credits.

Ultra-rich skip estate tax, sparking 50% drop in IRS revenue
RETIREMENT RETIREMENT PLANNING NOV 19, 2021
Ultra-rich skip estate tax, sparking 50% drop in IRS revenue

Just 1,275 wealthy families paid $9.3 billion in estate tax last year, while as recently as 2018, the IRS had collected more than $20 billion from nearly 5,500 families.

IRS expects crypto seizures worth billions of dollars in 2022
INVESTING ALTERNATIVES NOV 19, 2021
IRS expects crypto seizures worth billions of dollars in 2022

The agency seized $3.5 billion worth of cryptocurrencies in fiscal 2021, accounting for 93% of all assets seized, and an IRS official says he expects that trend to continue next year.

Janus Henderson CEO to exit as Peltz's Trian seeks changes
NEWS INDUSTRY NEWS NOV 18, 2021
Janus Henderson CEO to exit as Peltz's Trian seeks changes

Chief Executive Dick Weil, who was instrumental in the 2017 merger of Janus Capital and Henderson Group, will retire at the end of March.

Morgan Stanley wants more diverse young hires
YOUR PRACTICE PRACTICE MANAGEMENT NOV 18, 2021
Morgan Stanley wants more diverse young hires

The firm is announcing an initiative, the Equity Collective, in which wealth and asset management firms commit to working with career-focused community organizations to reach young people from more diverse backgrounds.

Invesco offers sustainability version of its S&P 500 ETF
INVESTING ESG NOV 17, 2021
Invesco offers sustainability version of its S&P 500 ETF

The Invesco ESG S&P 500 Equal Weight ETF will invest in companies considered leaders in ESG metrics; Apple, Facebook parent Meta and Tesla are among the companies that will be excluded from the fund initially.

InvestCloud is considering an IPO in 2022
YOUR PRACTICE FINTECH NOV 17, 2021
InvestCloud is considering an IPO in 2022

The company, which is projected to have more than $400 million in revenue next year, could command a valuation of $8 billion to $10 billion, based on comparable multiples of other companies.

Wealthfront explores potential sale
YOUR PRACTICE FINTECH NOV 17, 2021
Wealthfront explores potential sale

A transaction could value the robo-adviser, which has drawn interest from banks and special purpose acquisition companies, at as much as $1.5 billion.