The benefits of tax-loss and investing

Benefits of tax-loss harvesting are inflated. 

Some so-called robo-advisers may be overstating the benefits of tax-loss harvesting. Some of the claims we’ve seen are unrealistic given our more than a decade of experience managing tax loss harvesting portfolios and results we’ve seen from competitors we respect. 

The claims made by online advisors arguably represent the triumph of favorably simulated back-tested results over actual experience.

Wealthy families and their trusts

Trusts that use multiple advisers. 
Traditionally, the directed trust model called for electing a trustee and an investment adviser. Now, the wealthiest families are slicing and dicing trustee duties into many different functions. 
Directed trusts are showing up with as many as eight different roles, including a “special assets advisor,” a “distribution advisor” and a “trust protector.”