Wealth Management
(Washington)
A lot of attention in the wealth management industry has been paid to President Biden’s efforts to raise taxes…see the full story on our partner Magnifi’s site
Millennials have had their investing horizons shaken up by a financial crisis…see the full story on our partner Positivly’s site
One of the key ways many investors are directing change with their financial decisions…see the full story on our partner Positivly’s site
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(Washington)
While dancing around the subjects for the past couple of years, the chief financial regulators have finally announced a regulation…see the full story on our partner Magnifi’s site
(Washington)
Speculation is running rampant in the wealth management…see the full story on our partner's site
(Washington)
The last couple of months has been very tense for advisors. Not only have discussions around a renewed version of the DOL rule been swirling, but highly significant tax hikes are pending. Biden is planning a huge multi-trillion Dollar increase in spending, which means tax hikes are almost a certainly. And none of them is more worrying than the hike on long-term capital gains taxes, which Biden wants to push up to 43.4% vs 23.8% now. That is scary in itself, but here is the truly worrying part: experts think it will take effect May 27th (next Thursday). This would be simultaneous to his announcement of his full budget.
FINSUM: Evidently Biden doesn’t want to give advisors and accountants time to game plan around his changes, so he wants them to go into effect immediately upon release of the budget (and they could even be retroactive).