Consumers need more tax help; the philanthropy preferences of the affluent

TAX PLANNING SERVICE GAP: Demand for tax planning services outstrips what advisory offices are currently supplying, according to a new survey from consulting firm Herbers & Company. Unpredictable economic times is one factor that could be contributing to consumers’ need for tax help. Chief Correspondent Tobias Salinger has the details.

Read: Advisory practices aren't meeting clients' tax demands, study finds

HOW THE RICH GIVE: Behind the majority of charitable-giving decisions in the U.S. — 85% — are women, finds a new Bank of America study of affluent philanthropists. Also uncovered by the study: younger donors’ greater interest in giving to causes that support the fight against climate change. Victoria Zhuang reports on what you should know about HNW client preferences. 

Read: What women, next-gen investors want in philanthropy: Bank of America study

FUELING THE ENGINE: Edelman Financial Engines nabbed another big RIA in its fourth acquisition of the past year. “We are very focused on organic growth, but inorganic growth has really become a key component of our growth strategy," CFO Suzanne van Staveren told FP’s Tobias Salinger r. (In more M&A news, Creative Planning buys a $1.4B RIA to expand its estate planning offerings.)

Read: Edelman Financial Engines acquires $425M RIA

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