Women control large amounts of wealth but "remain underserved across many financial needs," according to Florrie Willis and Brynn McLin of Lincoln Financial Group, who note that women live longer and are more likely to be long-term caregivers. "It is important that their unique needs and circumstances are incorporated in the planning, especially when factoring in life expectancy," they write.

Virtual communications have become a part of everyday life in the wake of the pandemic, but there is a growing gulf between how advisers and their clients view the effectiveness of virtual planning sessions, write Nathan Collier, CFP®, AIF; Jason N. Anderson, CFP®, CPA; Darin Carroll, CFP®, BFA, AAMS; and Megan McCoy, Ph.D., LMFT, AFC, CFT-I. Using the theory of polymedia, the four authors take an in-depth look at virtual communications and offer guidance on how you can get the most from all your client interactions. Read the Journal article now.

The pandemic made virtual communication a must, but little was known at the time about how clients would react to having crucial money conversations online instead of in-person. In this article from April 2021, a team of experts offered advice on the best ways to communicate virtually that still resonate today. Read the Journal article now.

A new study from Trust & Will found that while 81% of millennials believe having a will is important, only 36% of them have done any estate planning. Financial advisers can help these clients with small steps such as naming beneficiaries, experts say, which "can lead to larger actions like establishing a will, guardianship for minors and medical directives," said Den Murley, a partner at Belonging Wealth Management.

There are many problems with using the 4% rule as a retirement spending guide, including the potential of living longer than expected and the need to spend for emergencies, write tax experts Robert Bloink and William H. Byrnes. They instead recommend basing spending on market returns and inflation or using the Internal Revenue Service's tables for Required Minimum Distributions.

Financial advisers can expand their business and provide more value to clients by offering estate planning services, writes Steve Lockshin, founder and chair of Vanilla. He highlights estate planning topics advisers should discuss with clients, including life insurance, business succession plans and the importance of naming beneficiaries.

Firm owners often struggle with managing growth and profit and may not know the right time to prioritize one over the other, writes Matt Sonnen, chief operating officer at Coldstream Wealth Management and creator of the digital consulting platform The COO Society. He offers tips for both managing profit and promoting growth and explains why the balancing act is necessary to create a healthy, sustainable business.

Federal Reserve Bank of New York President John Williams still expects the central bank to cut rates this year if inflation continues to fall. "We will need to start a process at some point to bring interest rates back to more normal levels, and my own view is that process will likely start this year," Williams said. While he didn't see recent inflation data as a "turning point" the figures would change his opinion and forecasts, Williams added.

President Joe Biden is once again pledging to shield households from tax increases if their income falls below $400,000 per year, but inflation means that there are now more households above this threshold than there were during the last election cycle. In 2022, 3.4 million households were in the $400,000-and-above category, one-third higher than in 2019.

A Congressional Budget Office report found that 70% of high-net-worth families experience a significant loss of wealth before it passes to heirs, and a big reason is lack of communication, writes Craig Robson, founding principal and managing director at Regent Peak Wealth Advisors. He discusses how financial advisers can help foster discussions between clients and their heirs about effective estate management.

Now is likely a good time to retire because financial markets are near all-time highs, meaning clients can sell equities for strong prices to fund their cash needs and can mitigate the sequence of returns risk, writes financial expert Roger Wohlner. He highlights several other considerations for people mulling whether to retire.

As the premier event designed specifically for newer professionals like you, join us in sunny Phoenix from Aug. 20-22 for FPA NexGen Gathering 2024. It's the perfect opportunity for those entering or within their first eight years in the profession. You'll be able to engage in enlightening conversations that will expand your knowledge, sharpen your skills, and fuel your passion for financial planning. This is an amazing opportunity to connect with like-minded peers, industry leaders, and mentors who are shaping the future of financial planning. Early bird pricing is available until May 31, so don't miss out on this chance to save. Registration is now open, so be sure to secure your spot today!

April is Autism Acceptance Month, so join us to celebrate with a discussion on all things Autism and financial planning on April 24 at Noon ET. Brynne Conroy, a personal finance writer and co-host of the Mom Autism Money Podcast, will guide you through the stages of acceptance the parents you're working with are likely to go through after a diagnosis, non-traditional financial resources that may be available to these families in the here-and-now, and unique financial planning strategies these families and individuals are likely to need as a part of their long-term plan. Register now!