Trump urges cut in personal, business tax | SEC seeks industry views on iXBRL proposal | Don't miss the IPASummit 2017, May 1-4 in Washington, D.C.!
April 27, 2017
IPA NewsBrief
Advocating Direct Investments through Education
Top Stories
Trump urges cut in personal, business tax
President Donald Trump has proposed slashing federal taxation. The highest personal tax rate would fall to 35% from 39.6%, while the standard deduction would double, and the rate for corporations and most small businesses would decline to 15%.
The Hill (4/26),  The New York Times (free-article access for SmartBrief readers) (4/26),  The Washington Post (tiered subscription model) (4/26) 
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SEC seeks industry views on iXBRL proposal
The Securities and Exchange Commission is asking financial firms to comment by May 16 on a proposal to require reporting of financial data through Inline eXtensible Business Reporting Language. The proposal would require firms to embed XBRL data in filings, rather than submit XBRL data separately.
ThinkAdvisor (free registration) (4/24) 
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An Experienced Leader in Alternative Solutions
Resource is an asset management company that specializes in real estate and credit investments. Its main objective is to be a best-in-class asset manager as measured by risk-adjusted returns to investors and the quality of the funds and businesses it manages. With experienced honed over more than two decades, Resource and its affiliates have been providing innovative, flexible investment solutions for both institutional and individual investors. To learn more visit
IPA Member Information
Don't miss the IPASummit 2017, May 1-4 in Washington, D.C.!
The IPASummit 2017 is the essential event of the year: a deep dive into regulatory and legislative affairs, culminating with Congressional meetings on Capitol Hill. Attendees will speak directly with senior leadership at the most influential broker-dealers and discuss the impact of the new administration's agenda with senior regulators and legislators. Join leaders from across the industry as we tackle the challenges and opportunities ahead of us!
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Discover a wealth of investment ideas with Hines Securities
Hines Securities is the broker-dealer affiliate of Hines, the international real estate investment, development and management firm. Hines Securities offers investment products to individual investors through select broker-dealers and their financial advisors and RIAs.
Industry News
Subordinated co-investing could help meet rule mandates
A unique approach to investing might be one way to address the directives for fiduciary responsibility and transparency mandated by FINRA and the Labor Department's now-delayed Fiduciary Rule, writes Beth Glavosek. Called subordinated co-investing, it involves a sponsor contributing money to offset investor fees.
Blue Vault Blog (4/6) 
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Non-traded REITs raised $4.8B in 2016
Non-traded real estate investment trusts raised a total of $4.8 billion in 2016, a drop from $10.2 billion in 2015, according to Summit Investment Research. The exit of American Realty Capital and regulatory uncertainty surrounding the Labor Department's fiduciary rule were among the factors that led to the decrease.
The DI Wire (free registration) (4/25) 
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Resource Innovation Office REIT to restructure IPO
Resource Innovation Office REIT will restructure its initial public offering, turning the $1.1 billion offering into a perpetual-life entity. As such, the company has suspended the sales of Class A and Class T shares, which will resume after the restructuring has been completed.
The DI Wire (free registration) (4/24) 
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Policy Update
Commentary: Fiduciary rule delay must be extended
Language in the Department of Labor's fiduciary rule delay making the regulation go into effect on June 9 regardless of the time required to conduct a review of the rule is in direct conflict with the president's directives, experts say. The Labor Department must further delay the rule's implementation to appropriately study its costs and effects, Douglas Holtz-Eakin and Meghan Milloy of the American Action Forum write.
The Hill (4/24),  InvestmentNews (tiered subscription model) (4/24) 
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Lawyers: Exemptions may ease compliance with Labor's fiduciary rule
The Labor Department has made no recent changes to its fiduciary-rule proposal, but new exemptions might streamline compliance requirements, said lawyers Fred Reish and Brad Campbell. One exemption could aid independent insurance agents' use of commission-based business models as they work in the retirement-plan market, Reish and Campbell said. (4/25) 
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Business Best Practices
Prioritizing millennial interests can benefit advisors
Destination wedding
(Mark Metcalfe/Getty Images)
Millennials focus more on buying a home and saving for vacation, a wedding or college compared with older generations, a Stash survey finds. Advisors who prioritize these life events are more successful working with younger clients, says Alan Moore of XY Planning Network.
InvestmentNews (tiered subscription model) (4/19) 
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Security is mostly a superstition. ... Life is either a daring adventure, or nothing.
Helen Keller,
writer and activist
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About IPA
For over 30 years, the Investment Program Association (IPA) has supported individual investor access to a variety of asset classes not correlated to the traded markets and historically available only to institutional investors, including: non-listed REITs, non-listed business development companies (BDCs), energy and equipment leasing programs and real estate private equity offerings. Direct Investment products have been held in the accounts of more than 2.8 million individual investors. They remain a critical component of an effectively diversified investment portfolio and serve an essential capital formation function for the U.S. economy. The mission of the IPA is advocating Direct Investments through education and public awareness.

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