Tobias Salinger

New York

Chief Correspondent at Financial Planning

Wealth management journalist for @finplan writing about brokerages, RIAs, racial equity, regulation and compliance. He/him. [email protected]

Articles

Avoid 'Jordan's revenge' and find slam-dunk savings for athletes

1 day ago | financial-planning.com | Tobias Salinger

For financial advisors and tax professionals, Michael Jordan's first championship took meaning beyond the beginning of the Chicago Bulls' legendary dynasty. Hoops fans recall the team's 1991 National Basketball Association title over the Los Angeles Lakers as the first of the Bulls' six championships under His Airness and company, a changing of the guard from the dominance of Magic Johnson and his "Showtime" squad.
New studies examine wealth taxes amid TCJA debate

3 days ago | financial-planning.com | Tobias Salinger

Amid some mixed signals about the possibility of higher taxes for some wealthy households, new research is shedding light on the many potential options available to policymakers. President Donald Trump and his Republican allies in control of Congress face a year-end deadline to extend the expiring provisions of the Tax Cuts and Jobs Act.
Why and when do financial advisors change firms? It's complicated

1 week ago | financial-planning.com | Tobias Salinger

In the dynamics that industry recruiters call the "push and pull" of wealth management firms' fight to win talent, top financial advisors represent the main prize up for grabs. And several thousands choose to change their brokerage or registered investment advisory firms each year. But they do so for any number of reasons on a wide range of timelines.
The basics of S corporations — and the pitfalls for small businesses

1 week ago | financial-planning.com | Tobias Salinger

Electing to establish an S corporation could unlock the tax benefits enjoyed by millions of small business owners — as long as financial advisors and clients avoid some pitfalls. Those include the ramifications of filing for deductions on the pass-through entity's so-called qualified business income, the requirement of one single class of stock for the company's equity and the implications of the S corp holding real estate, according to Tal Binder, CEO of Gelt.
13 giant wealth management firms paid CEOs an average of $29M

1 week ago | financial-planning.com | Tobias Salinger

The CEO pay of the largest publicly traded wealth management firms may not carry much weight for financial advisors, but it represents a barometer of the industry's bottom line. Judging by the below rankings of CEO compensation across 13 of the biggest firms in the business, wealth management scored big for them last year.
Asset flow through 'Pershing pipes' fuels BNY fortunes

1 week ago | financial-planning.com | Tobias Salinger

A little more than one year into what its CEO refers to as the "transformation" of BNY — the integration of Pershing and its other business lines — the company is seeing some results.
How financial advisors can help close the racial wealth gap

1 week ago | financial-planning.com | Tobias Salinger

The already large yet widening racial wealth gap means that the smallest individual acts to invest and open access to capital carry an outsize impact, the author of a new book said.
Solo advisors can thrive in a consolidating industry. Here's how

2 weeks ago | financial-planning.com | Tobias Salinger

Many financial advisors who are the sole planning practitioners in their offices are pushing back against the industry's prevailing momentum toward consolidation — and winning. The increasingly massive giants of wealth management enjoy the benefits of scale, due to the commodification of investment management, customer demand for a one-stop shop with a full menu of financial services and the rush of private equity capital that is financing a continuing flow of M&A rollups.
How CFPB policies fueled new subprime boom, high home prices

2 weeks ago | nationalmortgagenews.com | Tobias Salinger

In a recent op-ed, Chris Dodd and Barney Frank argued that Trump-era deregulation weakened the CFPB and harmed consumers. Other Democrats went further, warning of rising housing costs from these actions. But the uncomfortable truth is that it's the CFPB's own policies that have fueled rising housing costs, not restrained them. One of the biggest culprits is the CFPB's qualified mortgage rule and the ever-expanding debt-to-income ratios allowed under it.
What does an IRS in flux mean for financial advisors and clients?

2 weeks ago | accountingtoday.com | Tobias Salinger

Financial advisors, tax professionals and their clients are facing an IRS that is moving in a polar opposite direction from the agency that was bulking up on enforcement only a few months ago.