The Trump administration has asked the 5th US Circuit Court of Appeals for another extension on a pause in a consolidated lawsuit against the Labor Department's fiduciary rule. The latest filing asks for a third 60-day pause, which would extend through Oct. 14.

AI has evolved from basic financial modeling to dynamic, real-time insights, significantly enhancing advisors' capabilities, writes Tim Clairmont of Clear Financial Partners. However, clients may have concerns, perhaps about data security or the potential for errors. Clairmont encourages advisors to be transparent about their AI usage, reassuring clients that it is a tool to enhance, not replace, human judgment.

The evolution of wealth management is being shaped by clients who want "holistic advice that reflects their values and goals," writes Jennifer Ayer, managing director at AlTi Tiedemann Global. Advisors must possess emotional intelligence and the ability to build authentic relationships, as well as technical expertise, Ayer writes.

A study from Jackson National Life Insurance and the Center for Retirement Research at Boston College has found that many Americans nearing or in retirement have more market risk exposure than they might think. Traditional portfolios may still be exposed to risk from systemic market events, highlighting the value of protective measures.

Many Americans are trying to protect their own financial security and prepare for retirement while helping care for older relatives. Having conversations with aging parents and recognizing that compromise may be necessary are crucial steps, experts say.

Members of Generation X face significant retirement challenges due to limited access to pensions, rising health care costs and economic volatility, write Stacey Mankoff and Colleen Kelleher Sorrentino. Financial advisors can help Gen Xers maximize retirement contributions, reduce debt, diversify investments and plan for health care costs.

As year-end approaches, retirees aged 73 and older must take required minimum distributions from pretax retirement accounts. For those who don't need the money, financial planner Judy Brown suggests options such as reinvesting in a brokerage account for long-term growth, making qualified charitable distributions to reduce taxable income and contributing to a 529 college savings plan.