Bob is the Partner & Co-Founder, Practus, LLP. A client once described Bob as "a lawyer who thinks like a venture capitalist." It's no surprise then that he co-founded Practus, LLP. Although Practus disrupts the traditional law firm model, one thing that hasn't changed is Bob's role as a trusted advisor to national and international clients. He has a knack for explaining complex subjects in a way that allows clients to make wise decisions.
Bob's practice focuses primarily on investment funds and technology companies. He has been the quarterback for over forty Section 351 transfers to ETFs and mutual funds. With that breadth of experience, Bob has managed to encounter just about every quirky variation imaginable ranging from handling Indian securities traded only on the Indian stock exchange to esoteric derivatives to dealing with vexing problems under the diversification tests.
As a business lawyer with tax savvy, Bob regularly advises entrepreneurs and owners of new companies on tax planning ideas, and he has handled hundreds of reorganizations, mergers, and acquisitions. Whether doing pro-bono counsel to special needs children or launching an innovative law firm, Bob solves legal problems with the wisdom and good judgment that comes from 30 years of experience. Bob has appeared on Nasdaq Trade Talks and has been quoted in U.S. News & World Report, ABA Journal, and other leading publications.
But he's most proud of the ridiculous amount of music trivia always floating around in his head– which he routinely uses to wow his wife, his hard-to-impress sons, and complete strangers at cocktail parties. Do you know what two #1 hits were sung by two different people with the same name? Bob does.
This piece outlines the high-level benefits of the ETF structure, which boils down to market access, tax efficiency, and transparency. It covers the considerations for a 351 tax-free conversion and the mechanics and tax consequences of a 351 conversion.
