Wealth Management

SEC ‘Best Interest’ Proposal Reflects ABA-Supported Principles

In a comment letter to the Securities and Exchange Commission today, ABA offered feedback on the SEC’s proposal to implement a “best interest” standard of conduct for broker-dealers when making recommendations on securities transactions or investment strategies to retail customers. The SEC’s proposal would represent a different approach from the Labor Department’s fiduciary rule, which was vacated earlier this year ...

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IRS Clarifies Deductibility of Trustee Fees from Trust Income

In a recent notice, the Internal Revenue Service released guidance clarifying that trustee and executor fees may continue to be deducted from a trust or estate’s income after the new tax reform law suspended the deduction of miscellaneous itemized deductions for by individual, trust and estate taxpayers.

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The Bank Customer of the Future

Customers will continue to accelerate their demands for anytime/anywhere banking. They will look to banks as expert advisers who can help them overcome stress and manage financial goals.

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