High-income investors are just as likely as their less-wealthy peers to have neither a will nor estate plan, according to a recent survey conducted by Wells Fargo and Gallup.
The lawsuit claims the advisor, who has retired from the wirehouse, gave “wrong and negligent” advice when asked by a client about a transfer of death form.
The domestic partner and mother of a former complex manager for the wirehouse both say they are entitled to proceeds from his account, prompting UBS to ask the court to protect the firm from their claims.
More than $2 trillion in assets are invested in variable annuities in the U.S., according to a report published by the National Bureau of Economic Research.
A UBS report found that the majority of women, spurred on by the pandemic, intend to have financial discussions with their spouses and many are considering portfolio discussions and updating their wills.