Mike Wilson Says

Nov 5, 2024 | fa-mag.com | Mike Wilson Says |Josh Harris

Being a financial advisor is difficult: You have to be smart, forward-thinking and possess the right mix of technical and interpersonal skills. Most advisors find it noble work, despite the stress and all-consuming nature of the role. The last decade has offered some relief. In part, that’s due to advancements in advisor-facing technology, which have reduced manual tasks that once took hours or even days to complete to a few clicks of a mouse.

Nov 5, 2024 | fa-mag.com | Mike Wilson Says |Matthew Erskine

Recently, a manager of a private equity fund mentioned that the seller of the business was complaining about the amount that the seller will have to pay in commissions, fees and capital gains taxes. The manager asked if I knew of a way of selling a business to a trust with an installment sale and having the trust sell the business and reinvest the proceeds to generate a yield higher than the installment payments. What this is called is a deferred sale trust.

Nov 5, 2024 | fa-mag.com | Mike Wilson Says |Muyao Shen

After generally underperforming Bitcoin during much of this year, smaller cryptocurrencies such as Doge and Solana may end up having the most at stake following the conclusion of the US presidential election. Bitcoin rose as much as 4.6% to $70,165 on Tuesday, or about 5% below the record high of around $73,800 reached in March. The largest cryptocurrency by market value has gained more than 65% this year.

Nov 5, 2024 | fa-mag.com | Mike Wilson Says |Laura Benitez

Apollo Global Management Inc.’s push to target wealthy individuals helped boost the firm’s assets under management to $733 billion, a 16% increase over the same period a year earlier. The firm reported adjusted net income of $1.13 billion, amounting to $1.85 per share, in a statement announcing third-quarter earnings on Tuesday. That beat analysts’ estimates of $1.73 per share. Shares of Apollo rose 7.3% to $149.56 at 9:44 a.m. in New York.

Nov 5, 2024 | fa-mag.com | Mike Wilson Says

Mergers and acquisitions for RIAs set an all-time record high last month in what DeVoe & Co. is calling an “October surprise” and a “major milestone.” The 39 total deals for October for firms of more than $100 million in AUM nearly doubled both the number of deals completed in September and in October of 2023, both of which recorded 21 deals.