Outgoing Federal Reserve governor Randal Quarles said that "sustained higher demand" is now apparent in the economy and that the Fed should prepare to raise rates. Other officials are also addressing the issue, with Federal Reserve Bank of Atlanta President Raphael Bostic saying winding down the bond-buying program by the end of March would be appropriate.

Lisa Gomez's nomination by President Joe Biden to serve as assistant secretary of labor for the Employee Benefits Security Administration received the backing of the Senate Health, Education, Labor and Pensions Committee in a 12-10 vote. A vote has not yet been scheduled for the full Senate.

Both the House and Senate have passed a bill that would provide funding through Feb. 18 and avert a government shutdown. The bill will now go to President Joe Biden for his signature.

Top wealth-management teams tend to have a clear vision, proactive leadership and a strong focus on internal communication. In addition, leaders recognize that roles may need to be adjusted when difficult situations arise.

Transfer on death and payable on death accounts can be used to avoid probate, but they aren't substitutes for revocable trusts, write Tracy Craig and Emily Parker Beekman of Mirick O'Connell. Revocable trusts can be used to prepare for incapacity and meet the needs of beneficiaries, they note.

IRS exclusions can mitigate the capital gains tax impact of selling a home, but the thresholds have not been raised since 1997. In addition, selling a home may come with other financial implications, such as affecting whether a taxpayer qualifies for health insurance subsidies.

Artificial intelligence and other technology can help advisors offer estate planning to a broader array of clients, write Matthew Berkowitz and Eden Afriat of Capco. A digital approach "can enable customized views of an estate plan with options to limit the information shared with heirs," they note.

Financial advisory firms that have adopted flexible work schedules in the coronavirus pandemic say they are not likely to abandon them. Some think the shift to flexible schedules has allowed advisory firms to lose fewer employees than other industries and given them an edge in recruiting.

Certain strategies, including performing Roth conversions and rolling funds into qualified plans such as 401(k)s, can help manage the potential tax impact of required minimum distributions. This slideshow looks at this and other RMD tax facts advisors should know.

Reducing degrees of separation can help financial advisers connect with wealthy potential clients in their communities, writes Mitch Anthony, co-founder of ROLadvisor.com and LifeCenteredPlanners.com. He offers 11 questions, centered around geography, careers and hobbies, that advisers can ask prospects to find areas of common interests and connections.