Digest October 6th

One Big Beautiful Bill Act’ Brings Major Tax & Estate Changes

The One Big Beautiful Bill Act of 2025 introduces material shifts for advisors: the estate and gift tax exemptions increase to $15 million for individuals and $30 million for couples, and the 20% business income deduction for pass‑through entities is made permanent. These changes create planning windows, especially for high‑net‑worth clients, and prompt a review of gifting, trust, and SALT strategies.
Investopedia

Regulators Push for Harmonization & Clarity Between CFTC & SEC

A recent joint statement from the CFTC and SEC emphasizes efforts to align oversight, especially around derivative markets, swap dealer business conduct, trade reporting, and cross‑border rules. A roundtable is scheduled to clarify overlapping jurisdiction and regulatory expectations. Advisors offering or recommending derivatives or advising clients who engage in cross‑border financial activity will want to monitor the outcomes closely.
Gibson Dunn

Clients Strongly Value Personalization, Relationships More than Portfolios

The 2025 Voice of the Client study (Wealthtender) analysed thousands of online reviews and found that 89% of them focus on relationship quality, personalized planning, emotional support, and trust—whereas only about 10% emphasize portfolio performance. This suggests that advisors should keep elevating service touchpoints, communication, and emotional intelligence in their client interactions.
Wealthtender