By Kenneth Corbin
The end of the year often brings a scramble to make charitable contributions, but the One Big Beautiful Bill Act signed into law this summer creates new wrinkles that could complicate the issue. One expert notes that taxpayers who take the standard deduction won't see any tax benefit for contributions made in 2025, for instance, but will be able to deduct $1,000 ($2,000 for joint filers) for contributions made next year. On the other hand, higher earners who itemize will see a better opportunity to cut their tax bill this year if their charitable contributions top a threshold created by the bill.
Among other most-read wealth management articles this week:
Does AI threaten the great wealth transfer? Estimates peg the amount of assets to pass from one generation to the next by 2048 at $124 trillion, but that doesn't account for the disruptive potential of artificial intelligence. Specifically, what happens if mid- and late-career workers find their positions eliminated or reduced due to emerging technology, and they can't retire on their own terms? For advisors, that could shift the foundation of clients' retirement plans, raising the question of whether clients should hold on to more capital as a safety net.
Wells Fargo's big recruiting win. Wells Fargo has notched a significant recruiting win, drawing a large advisory team away from rival UBS where they managed $6.3 billion and generated $38.5 million in annual revenue. The Hingham Street Partners team has 16 advisors and 16 support staffers, including five dedicated financial planners, primarily serving ultrahigh-net-worth clients, including multigenerational families. The move is one of several defections of high-earning teams from UBS to its Wall Street rivals in the past year.
Tis the season for giving back (to clients). Financial advisors are in a relationship business and it is good business practice to offer clients a little reminder at the holiday season that their business is appreciated. But what makes a meaningful holiday gift? We put that question to a handful of top advisors, and heard about a branded compass (signifying "course and purpose"), a snack called a Funky Chunky, and a bespoke "cool box."
Endgame for Labor Dept. fiduciary rule. The Labor Department's fiduciary rule is on life support. A federal court has granted a Trump administration motion to quit its defense of a rule enacted by the previous administration that extended fiduciary responsibilities to a broader swath of financial professionals working with retirement plans and advisors. The decision effectively ends the latest round of a long-running dispute over the regulation of retirement advice that dates back to the Obama administration.
Sustainable investing isn't dead yet. For all the political flak asset managers and advisors have taken regarding so-called sustainable investing, Peter Krull has stayed the course. Krull directs sustainable investing at Earth Equity Advisors, and says his firm's Green Sage Sustainability Portfolio is up more than 14% this year clear of fees. Krull tells Barron's Advisor that an environmentally conscious investing strategy appeals to younger Americans and suggests the field can be fertile ground for next-gen advisors trying to build their business.
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
December 05, 2025 14:34 ET (19:34 GMT)
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