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The Multi-Family Office Gold Rush

There’s strong evidence that single-family offices are growing at a good pace. However, that’s nothing compared to the propagation of self-proclaimed multi-family offices. Many of the larger financial institutions such as UBS and Goldman Sachs have groups to support their advisors in delivering family office services…

A Fancy Financial Advisor Title Does Not Ensure High Standards

Most investors don’t realize that when they walk into a bank or brokerage firm branch, the representatives there are essentially free to emblazon their business cards with whatever titles they please — financial consultants, advisers, wealth managers, to name a few. But if you’re looking for someone who is qualified…

Permanent Estate & Gift Tax Relief

On Jan. 1, 2013, Congress averted the so-called fiscal cliff by approving new legislation titled the American Taxpayer Relief Act of 2012 (ATRA-2012). President Obama signed the bill into law.
The new law will extend the Bush-era income tax cuts for 98 percent of U.S. taxpayers…

Google’s Bermuda Billions

In the crime of the century, Google routed $9.8 billion in revenue through a subsidiary headquartered in Bermuda in 2011. Strike that. What Google did was entirely legal, but you wouldn’t know it from the political uproar that has made the search giant the latest target of the higher-tax chorus.

Paulson Said to Explore Puerto Rico as Home

John Paulson, a lifelong New Yorker, is exploring a move to Puerto Rico, where a new law would eliminate taxes on gains from the $9.5 billion he has invested in his own hedge funds, according to four people who have spoken to him about a possible relocation.
Ten wealthy Americans have already taken advantage of the year-old Puerto Rican law that lets new residents pay no local or U.S. federal taxes on capital gains, according to Alberto Baco Bague, Secretary of Economic Development and Commerce of Puerto Rico. The marginal tax rate for affluent New Yorkers can exceed 50 percent on ordinary income…

Paulson Pitching Fund Designed to Cut Tax Bills

Billionaire hedge-fund manager John Paulson, who last month considered a move to Puerto Rico to lower his tax bill, is starting a fund to help investors reduce the amount they owe to the U.S. government. Paulson’s $18 billion hedge-fund firm invited…

George Lucas’s Jedi Estate Planning

In the “Empire Strike Back,” Yoda admonishes Luke Skywalker for spending his life dreaming of the future: “never his mind on where he was … what he was doing.” But at 68, George Lucas, the creator of the “Star Wars” saga, seems to be doing much thinking about the years ahead — in fact, experts say, his decision to sell his company to Disney was an estate-planning move worthy of a Jedi Master…

A ‘Quarterback’ to Oversee Your Investments

Do you need a financial quarterback?
The more money high-net-worth investors have, the more advisers they tend to accumulate: attorneys, accountants, financial planners, money managers, insurance agents, personal bankers. Corralling all of them can feel like a full-time job…

Advisers struggle to provide the full range of services ultrawealthy clients need

Multifamily offices try to win the loyalty of multigenerational families of clients by offering a full menu of services.

When Stephen Miles and his business partner, Drew Adams, look back at their earliest days as financial advisers, they realize how much their approach to clients has changed…