Many baby boomer business owners lack succession plans, posing risks to their families, employees and local economies. With nearly 80% of these owners lacking a written transition plan, financial advisors must take the initiative to guide clients through the process, ensuring business continuity and value preservation. "Advisors shouldn't wait for permission to bring up exit planning," write David Winslow and Clint Costa of Choreo. "Start the conversation, repeat it often and guide clients through the steps."

The US economy added 119,000 jobs in September, surpassing expectations, according to a delayed Bureau of Labor Statistics report. However, the unemployment rate rose to 4.4%. The mixed results could perpetuate the uncertainty surrounding the Federal Reserve's upcoming December policy meeting. "This isn't going to change anybody's mind," said David Seif of Nomura.

As artificial intelligence becomes more prevalent in wealth management, the human element remains irreplaceable, writes Scott Winters, CEO of Financial Gravity. Winters argues that while AI can handle data and automation, it cannot understand clients' fears and emotions, and he urges advisors to focus on building trust through empathy and emotional intelligence. "Empathy is not a 'soft skill.' It is the new alpha," Winters writes.

Health savings accounts are increasingly being used to offset rising health care costs, which are expected to surge in 2026, and grow retirement income. "For those in high income brackets, it makes the most sense to use a health savings account as a very powerful investment account," says Maryann Vognild of Focus Partners Wealth.

Estate planning is particularly complex for blended families, but starting conversations early and documenting intentions can prevent disputes. Estate planning attorney Harry Margolis discusses the importance of taking a proactive approach, the value of prenuptial agreements, and providing for children from a prior marriage before the current spouse passes.