FINRA Update

We have received many inquiries relating to a recent Financial Industry Regulatory Authority (FINRA) posting, as part of their weekly update relating to a firm’s designation of accountant, which reads: “As a reminder, SEA Rule 171-5(f) (2) requires firms to file a statement with the SEC and its Designated Examining […]

Another Investor in Trader Clothing

Back in October I blogged about Mr. Endicott who got himself embroiled in a skirmish with the IRS over his status as a trader or investor for tax purposes -[http://frankandtothepoint.com/2013/10/09/clearing-back-the-brush-between-trader-and-investor/]. The Tax Court took a detailed look at Mr. Endicott’s activities, counting his trading days, number of trades, calculating an […]

The Next Great Frontier For Asset Gathers

If you’ve ever investigated variable annuities or variable life insurance you know that the investment options consist largely of “mutual funds.”  For some years now the large U.S. mutual fund companies have offered both retail funds and funds offered solely to insurance company separate accounts (i.e., “insurance dedicated funds”). In […]

The Fund of One

The “fund of one”, it sounds very Zen-like.  I could imagine the phrase being used in a marketing campaign for some private bank or trust company.  However, the “fund of one” is much more practical than spiritual. Imagine you are a high net worth individual (I imagine that a lot…), […]