Fri, Mar 24, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

G2 FinTech forms tax management advisory board, advises managers to demand proof of performance from service providers

Wednesday, August 01, 2012

Bailey McCann, Opalesque New York:

G2 FinTech has formed a strategic advisory board comprised of leading members of the tax, asset management, financial software and academic communities that will provide guidance and counsel as G2 FinTech continues to develop software to address the complex tax issues facing the investment management space. The Advisory Board will meet on a regular basis to contribute meaningful advice and guidance related to the current and future work at G2 FinTech.

"Because of the way the tax code is constructed, it is very difficult for professionals in wealth management to report tax information to investors and pay their own taxes accurately," says George Michaels, CEO of G2 FinTech, in an interview with Opalesque. "So what we are doing is automating that. In the event of an audit, we want you to be able to get the auditors out the door as quickly as possible."

He explains that right now firms typically bring in their existing auditors to handle tax management as part of the audit function, however, these tasks often get assigned to junior staffers who are apt to skim over information and that can lead to problems during an IRS audit. Beyond audit issues, wealth managers are sometimes placed in the position of taking a loss, but receive a tax bill because their earnings may still be higher than they were previously, putting the manager in a tough spot with investors.

Members of the advisory board were chosen because of their expertise ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Hedge fund liquidations in 2016 surpass 2009 levels, new launches decline[more]

    Benedicte Gravrand, Opalesque Geneva: Even as the hedge fund industry's total assets exceeded the $3tln milestone last year, hedge fund liquidations increased. So much so that 2016 had the highest number of liquidations since 2008, claims the latest HFR Market Microstructure Report, re

  2. Hedge funds find no joy in macro as returns lag Trump rally[more]

    From Gulfnews.com: In 2017, macro hedge funds were expected to shine. So far? Not so much. It's been a far from impressive first two months for funds that trade around macroeconomic events. Discretionary funds rose just 0.3 per cent through February, according to Hedge Fund Research Inc., while the

  3. Strategies - Billionaire investor Marc Lasry shares how he's playing markets right now, Classic models are failing FX hedge funds desperate for return[more]

    Billionaire investor Marc Lasry shares how he's playing markets right now From CNBC.com: Buy on the prospect of deregulation. Sell on the enactment of deregulation. That's the strategy that billionaire investor Marc Lasry is implementing, according to an interview with CNBC in Las Vegas

  4. Opalesque Exclusive: Aberdeen makes the case for the lower mid-market[more]

    Bailey McCann, Opalesque New York: Aberdeen Asset Management has released a new paper focused on lower mid-market private equity. According to the paper, this segment of the private equity market is gaining popularity with private equity investors that are looking for multiple expansion and less

  5. Hedge funds await outcome of French elections, feel pinch on lower oil prices & weak dollar[more]

    Komfie Manalo, Opalesque Asia: Hedge funds felt the pinch of lower oil prices and weak U.S. dollar as the Lyxor Hedge Fund Index was marginally down as of the week ending 14 March, Lyxor Asset Management said in its Weekly Briefing. The Lyxor He