High Net-Worth

News & Analysis as of

A Different Kind of Board: Bret Magpiong Explains the Phenomenon of Family Boards of Advisors

When most people think about boards, they usually consider boards of directors for public or private companies, or non-profit boards. But there are other types of boards that rarely come to mind. Bret Magpiong, Chief Practice...more

Treasury Proposes Regulations That Would Require Private Trust Companies to Establish or Enhance AML Programs and to Identify...

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) published proposed regulations on August 25, 2016 that would require certain private trust companies utilized by high net worth individuals,...more

Asset Protection Wake Up Call: Data Security Top Concern for High Net Worth Investors

A recent study asked high net worth investors which of the following issues they were most concerned about: terrorism, data security, or a major illness. The most prevalent response might surprise you. Seventy-two percent...more

SEC Issues Order Raising Threshold for Net Worth Test to Adjust for Inflation

On June 14, 2016, the Securities and Exchange Commission (the “SEC”) issued an order, effective August 15, 2016, with respect to Rule 205-3 under the Investment Advisers Act of 1940 (the “Advisers Act”), raising the net worth...more

SEC Increases Performance Fee Net Worth Threshold for Qualified Clients

Effective August 15, 2016, the net worth threshold for qualified clients under Rule 205-3 is increased from $2 million to $2.1 million. If you have advisory agreements or subscription agreements that require a client or...more

Recent Amendment of SEC’S “Qualified Client” Definition

The SEC recently adopted an amendment increasing the net worth threshold set forth in the definition of "qualified client" under the Advisers Act. For an investment adviser that is registered with the SEC, or one that is...more

SEC Increases Performance Fee Thresholds

As noted in a previous alert, the Securities and Exchange Commission has now issued an Order, effective as of August 15, 2016 (the "Effective Date"), which amends SEC Rule 205-3 (the “Performance Fee Rule”) under the...more

Net worth threshold for "qualified clients" under Investment Advisers Act will increase effective 8/15/2016

Effective as of August 15, 2016, the net worth threshold for qualified clients under Investment Advisers Act Rule 205-3 will increase from $2 million to $2.1 million. ...more

SEC Orders Increase in Qualified Client Threshold

The Securities and Exchange Commission (SEC) issued a final order on June 14 to adjust for inflation the net-worth threshold for a registered investment adviser to charge performance-based compensation to its advisory clients...more

SEC to Adjust Net Worth Threshold for Qualified Clients

On June 14, 2016, the U.S. Securities and Exchange Commission (“SEC”) issued an order increasing the net worth threshold for “qualified clients” under the Investment Advisers Act of 1940 (“Advisers Act”). This change, made...more

SEC Increases Qualified Client Net Worth Threshold

Every five years, the US Securities and Exchange Commission is required to adjust for inflation the agency’s dollar-based qualification tests for when an SEC-registered investment adviser can receive compensation based on...more

SEC Adopts Higher Net Worth Threshold for Qualified Clients under the Advisers Act

In an order dated June 14, 2016, the Securities and Exchange Commission (SEC) adopted its prior proposal to increase the net worth threshold for "qualified clients" under Rule 205-3 of the Investment Advisers Act of 1940 (the...more

SEC Raises Qualified Client Threshold for Investment Adviser Performance Fees

Effective as of August 15, 2016, the dollar amount of the “qualified client” net worth test will increase from $2,000,000 to $2,100,000. On June 14, 2016, the SEC issued an Order Approving Adjustment for Inflation of the...more

SEC To Increase Qualified Client Net Worth Threshold

Every five years, the U.S. Securities and Exchange Commission is required to adjust for inflation the agency’s dollar-based qualification tests for when an SEC-registered investment adviser can receive compensation based on...more

SEC Proposes Higher Net Worth Threshold for Qualified Clients under the Advisers Act

On Wednesday, May 18, 2016, the U.S. Securities and Exchange Commission (SEC) proposed to increase the net worth threshold for qualified clients from $2 million to $2.1 million. This proposed adjustment is being made...more

Global Investor Programme – Attracting high net worth individuals to Singapore

High net worth individuals (“HNWI”) looking to relocate to Singapore may wish to consider the Global Investor Programme (“GIP”) for the purposes of obtaining residency status in Singapore. The GIP offers Permanent Resident...more

The High Net Worth Divorce : Financial Advisors, Hedge Fund Managers, Business Owners, Corporate Officers and More

Stockbrokers, financial advisors, hedge fund managers and other high net worth individuals (along with their spouses) going through a divorce often face non-routine issues due to the unique nature of their compensation...more

SEC-JPMorgan Securities Settle False Advertising Action

The holiday season may be a time of good cheer. Wall Street banks may not agree, however, at least for this year. As the season began to unfold JPMorgan settled a Commission action centered on conflicts by admitting the facts...more

Jerry Lucente Speaks

Jerry Lucente is a Small Business/Self Employed Territory Manager with the North Atlantic Region of IRS, which includes the six New England states, New York and New Jersey. He is responsible for four groups at IRS that...more

High Net Worth Family Tax Report, Vol. 10, No.3

Don’t Forget Year-End Gifts, etc. - A variety of planning steps should be considered before the end of the year. One of these is to make any $14,000 annual exclusion gifts you wish to make. This annual exclusion amount...more

Possible Changes to IRS Audits of High Income Individuals

The Internal Revenue Service (IRS) is considering increasing the income threshold to identify a taxpayer as being wealthy enough to be audited by the IRS’s High-Income and High-Wealth Strategy Team. The recommendation to do...more

Structured Thoughts: News for the financial services community, Volume 6, Issue 6

U.S. Structured Warrant Programs: Introduction - U.S. and non-U.S. banks have offered structured warrants in the U.S. to address the needs of both institutional and high-net worth investors. This article will...more

FINRA Releases Revised 4210 Margin Rule Proposal

The reproposed amendments to Rule 4210 attempt to address commenters’ concerns that the original proposed rule would impact business activity in the TBA market....more

Tax-Savvy Planning for Foreign Business Owners Seeking Temporary U.S. Residence: Alternatives to the EB-5 Visa

The EB-5 Visa program has been widely promoted as a legal basis for foreign business owners to gain conditional residency followed by permanent residency in the United States. The program is a great solution to the...more

New 252 Percent Estate Tax Bracket and Other Tax Changes Affect Wealthy New Yorkers

The revenue portion of the recently passed Executive Budget for 2014–2015 significantly changes New York’s estate tax and the way in which New York taxes the income of certain trusts. ...more

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