Market watchers have noted the stunning growth of indexed vehicles over the last few years. Coupled with the ease of trading and transparency of exchange-traded funds (ETFs), the low cost and tax efficiency of indexing have led to a boom in the growth of these vehicles to the detriment of actively-managed mutual funds. With indexing beating the majority of active managers in most asset classes, indexing has been an easy concept for investors to buy into.
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Shareholders of publicly-traded companies have a powerful voice in improving business practices and enhancing the financial performance of the companies in which they are invested. As the business case grows for sound social and environmental practices, investors are increasingly using a shareholder engagement to drive strategic and positive changes in corporations—and society at large. Further, wealth advisors and family offices are in a unique position to facilitate individual investor involvement in shareholder engagement initiatives by enabling and simplifying the process.
Philanthropy has long been characterized by the drive to make a difference. While the practice has evolved, the value of kindness and the legacy of giving it reinforces remains constant. Here we explore the donor-advised fund, a charitable giving vehicle that can be employed individually or as part of a larger plan, providing donors tremendous flexibility in reaching their philanthropic vision.
President Trump has directed the Secretary of Labor to re-examine the Department of Labor’s (DOL) final so-called “Fiduciary Rule” to determine whether it “may adversely affect the ability of Americans to gain access to retirement information and financial advice,” and to prepare a new cost-benefit analysis of the Fiduciary Rule that focuses on potential adverse impacts on investors, retirees, and the retirement services industry.
On April 26, 2017, President Donald Trump presented the core principles of his proposal to significantly overhaul the Tax Code, including reducing individual tax brackets from seven to three, lowering corporate and individual tax deductions, and eliminating the alternative minimum tax. If key elements of the administration’s tax reform proposal were passed, what aspects of your wealth plan might be affected?
In the U.S. the first quarter GDP growth fell short of the consensus forecast; however, stocks have remained surprisingly resilient, currently sitting just below all-time highs. Overall, Energy, Financials, and Information Technology have been the primary growth drivers. In Europe, Independent centrist candidate Emmanuel Macron defeated populist/Eurosceptic candidate Marine Le Pen, shifting investors’ focus to improving economic data. In China, the pace of expansion is expected to ease as the government continues to tighten policy and target areas of excess.
Michigan recently passed an act that allows individuals to create Domestic Asset Protection Trusts ("DAPTs"), an attractive option to help people protect their assets from the claims of third party creditors. If the basic requirements of the newly adopted Michigan statute are satisfied, it also permits the trust settlor to retain certain powers and interests in the DAPT, including the right to receive distributions, while maintaining significant protection for the assets of the DAPT.