DECEMBER 9, 2017

TRUMP TAX REFORM

Senate FIFO Proposal Punishes American Investors

Thomas E. Faust Jr.

First-in, first-out inhibits investor choices, causes capital gains taxes to go up and complicates financial planning for millions of Americans, Eaton Vance’s Thomas Faust Jr. argues.

FULL ARTICLE

TRUMP TAX REFORM

House Republicans: FIFO Could Deter Investors from Using Robos

Diana Britton

The congressmen say the provision could take away from the benefit of new technologies—namely robos—that have automated tax loss harvesting.

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TRUMP TAX REFORM

How to Prepare for Tax Reform Now

Patrick Beaudry

Waiting until the final bill is signed may not provide enough time to make changes before the end of the year.

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INDUSTRY

Merrill Lynch Does Not Plan to Leave Protocol Agreement

Michael Thrasher

Many expected the brokerage to follow Morgan Stanley and UBS in exiting the agreement.

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ETFS

Looking Beyond the Expense Ratio

Todd Rosenbluth

What’s inside an ETF is a larger driver of returns than the expense ratio.

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INDUSTRY

New Incentives Encourage Wells Fargo Advisors to Seek Wealthier Clients

Michael Thrasher

In 2018, advisors will have the opportunity to earn a higher percentage of their performance hurdle, the initial portion of revenue the advisor shares with the brokerage, through a new Client Segment Grid.

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ADVISOR CHANNELS

Millennial-Led Advisory Leaves LPL’s Corporate RIA

Diana Britton

The move allows Winthrop Wealth Management, which still custodies with LPL, to get its new practice acquisition platform up and running.

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INDUSTRY

Purshe Kaplan Sterling Scooped Up By IBD Newcomer Wentworth Management Services

Diana Britton

This marks Wentworth's first major acquisition of an IBD.

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TECHNOLOGY