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.

Marking its 90th anniversary, Social Security continues to serve as a foundational income source for retirees, with nearly 70% of Americans expecting to rely on the program for retirement income, according to research from the Transamerica Center for Retirement Studies. Yet, 71% of non-retired Americans worry about Social Security's long-term viability.

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 annuities and other protective measures.

The Life Actuarial Task Force of the National Association of Insurance Commissioners reflected on the impact of Actuarial Guideline 53, which focuses on the calculation of reserves under risk-based capital rules. "[W]e are making really good progress, and at this particular time, there's not a dire need to consider an investment guardrail for AG 53," said Fred Andersen of the Minnesota Department of Commerce. Regulators also discussed AG 55, which focuses on assets underpinning reinsurance deals.

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.