Financial advisers should prepare for the Great Wealth Transfer, which is expected to involve $124 trillion over the next two decades, according to Greg Cornick of Osaic. Advisers should consider how asset fragmentation among multiple beneficiaries could increase administrative complexity without boosting assets under management, writes Cornick, who suggests that advisers work with partners that offer flexible business models, scalable technology, asset portability and expertise across market segments.

Early retirees are navigating a unique financial landscape this year, marked by record-high stock market values as well as certain areas of uncertainty about the economy. Greg King of Johnson Financial Group advises helping newly-retired clients prepare for potential downturns, manage withdrawal rates and focus on health and family dynamics.

Special needs trusts are crucial tools for helping families plan for loved ones with disabilities while helping them maintain eligibility for government benefits, writes John Campbell of Calamos Wealth Management. Campbell discusses the primary types of special needs trusts and reviews when these vehicles may make strategic sense.

Beverly Flaxington addresses concerns about integrating artificial intelligence in financial firms, highlighting employee fears of job displacement and the challenges of adopting new technology. Flaxington advises involving more team members in the decision-making process to alleviate fears and ensure a smoother transition. She also discusses the importance of including junior staff in the development of new technology to prevent resistance and improve usability.

Holding regular gatherings to discuss goals, challenges and other issues can be instrumental for a family office, write Chelsea Smith and Adam Sansiveri of Bernstein. "Once your clients have identified and communicated their family's values, they can weave them into their governance, philanthropy, estate planning and investment strategies," they write.

Kaitlin Bottock of the Securities and Exchange Commission's division of investment management indicated that the agency is drawing closer to a decision about whether ETFs can be offered as share classes of mutual funds. "We are finalizing our process," Bottock says.

A recent IRS private letter ruling focused on a situation in which the assets of a private foundation were used to create two charitable trusts. The ruling found that the trusts "wouldn't be treated as newly created organizations, and the transfer of assets from the original PF to the new trusts wouldn't be subject to tax under Internal Revenue Code Section 4940," writes Thomas Norelli of Kirkland & Ellis.