Larry Gilbert, 40, was a heavy hitter in Goldman Sachs' private wealth group in Chicago before he joined HighTower in February 2009.
The high-wealth group, housed in the IRS's large- and medium-sized business division, marks a sharpening of the IRS approach to auditing the very wealthy.
They typically like more transparency and control of their accounts and are more technologically savvy, said Dean Athanasia, head of the banking and direct investment division in Bank of America's wealth group.
Greg Ghodsi, the head of the 360 Wealth Management Group at Raymond James, chose An Empire of Wealth: The Epic History of American Economic Power by John Steele Gordon.
The IRS unit, known as the Global High Wealth Industry Group, was set up last year.
Revenue from its wealth management group offset a decline in its fixed income and commodities trading unit.
Chammah, 53, was named global head of investment banking in July, while Gorman, 49, runs the global wealth management group.
"The dollars and cents often don't make sense, " says Deana Arnett, a financial planner with Rosenthal Wealth Management Group in Northern Virginia.
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He is CEO of Scott Wealth Management Group, in Irvine, Calif.
With that said, the pharmaceutical sector is still showing some strength lately, says Greg Ghodsi, head of the Wealth Management Group at Raymond James.
"We have some clients with very well-traveled, unsigned wills, " laments Timothy Speiss, a CPA in charge of Eisner LLP's wealth advisory group in New York.
Ron Carson is the CEO and founder of the Carson Wealth Management Group, and has been investing and advising clients for over 27 years.
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"Usually, a revocable living trust for someone under 60 is more complexity than is necessary, " says Joan Bozek, a director in Merrill Lynch's private wealth management group.
Greg Ghodsi, head of the 360 Wealth Management Group at Raymond James, cautions investors that they shouldn't pay more in fees and expect a better fund manager.
Smith won over one investor by warning him that the private wealth management group of a European bank was about to bury him in a complete snow job.
When Bryan Hopkins, president of Hopkins Wealth Management Group, noticed all the volatility in the market, he encouraged his clients to harvest their losses multiple times a year.
Ghodsi, the head of the 360 Wealth Management Group at Raymond James, notes that a clear statement from the firm several weeks ago would have been the right move for the firm.
Both Bill Singer, shareholder at Stark and Stark law firm, and Greg Ghodsi, head of the 360 Wealth Management Group at Raymond James, see Brazil as a hot area for investing next year.
Dubbed the Global High Wealth Industry group, the unit will launch "a small number" of audits of individuals with assets or income in the tens of millions of dollars, Mr. Shulman told an accountants' trade group.
However, Dan Sontag, president of the global wealth management group at Merrill Lynch--now part of Bank of America--said in a press conference that the downturn is slowing and that the affluent are starting to spend yet again.
"It's a big ruling for people who have a lot of money and want to get it to future generations, " says Jere Doyle, senior director of Mellon Financial 's (nyse: MEL - news - people ) Private Wealth Management group.
For investors who have gains they want to offset, Greg Ghodsi, head of the 360 Wealth Management Group at Raymond James, says investors could take their stock that had a loss this year, sell it and then put the proceeds into an exchange-traded fund.
Marks Group Wealth Management owns certain of the aforementioned stocks on behalf of their clients.
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Ben Marks is president and chief investment officer of Marks Group Wealth Management (www.marksgroup.com), a Minnetonka, Minn.
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Ben Marks is president and chief investment officer of Marks Group Wealth Management, a Minnetonka, Minn.
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Fewer than one-third inherited their wealth, Spectrem Group found, while the largest group, at 27 percent, are business owners.
The federal government redistributes wealth to any group with a letterhead and lobbyist.
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The government should not be in the business of giving unearned wealth to any group of citizens, but surely liberals and conservatives both can agree that politicians should not be taking money from middle class taxpayers and giving it to upper-middle class and rich taxpayers.
An economic company, says Mr de Geus, is a corporate machine with the sole goal of producing wealth for a small group of managers and investors a group that maintains its grip through tight controls and rigid hierarchies.
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