The Financial Industry Regulatory Authority has sent a proposal to the Securities and Exchange Commission that details creation of a three-year experimental program for examining offices remotely. The practice began as a necessity during the pandemic, and FINRA says, "With the confluence of advances in compliance technology and the permanent shift to a remote or hybrid work environment, made more pronounced by the pandemic, FINRA believes that the optimal use of on-site inspections deserves further consideration."

Advisors must adopt technological tools to adequately manage the intergenerational transfer of wealth, particularly among ultra-high-net-worth clients, writes Darrell King of IQ-EQ. Sophisticated tech can help tackle cross-border challenges, aid in monitoring and reporting on investments, and provide support in succession planning, King notes.

Creating a formal plan for a family business ensures that owners can see their succession plans unfold as envisioned and sustain the company through new generations, writes Halsey Schreier, managing director and senior wealth strategist for CIBC Private Wealth Management. Questions to address include how and when the transition will occur, who will take over and how to compensate those involved, Schreier writes.

An age gap of 10 or more years between spouses is not uncommon and can complicate retirement planning, Roger Wohlner writes. Wohlner lists eight financial considerations for clients in this situation, noting that life insurance and qualified longevity annuity contracts are among planning tools that may be useful.

According to a Schwab Retirement Plan Services poll, 45% of investors see inflation as their most significant barrier in preparing for a comfortable retirement. Monthly expenses, stock market fluctuation and unforeseen expenditures also were cited as major concerns, while 47% of respondents still said they were very likely to achieve their retirement savings objectives.

Two studies differ on how likely retirees are to struggle with long-term care costs. An analysis by T. Rowe Price's Sudipto Banerjee found that those not on Medicaid were unlikely to have end-of-life care costs account for more than 60% of their net worth, but a study from the Urban Institute found that even among people needing fewer than two years of long-term care, 76% of middle earners and 48% of top earners experienced economic hardship.

Final expense life insurance is a lucrative niche to pursue, if you can overcome some hurdles, writes insurance agency owner Joshua Jones. He lists six potential pitfalls involved with selling final expense policies and offers tips on how to overcome them.

The New York State Department of Financial Services is seeking updated disaster plans from life insurers, retirement systems and other entities, with responses expected by early October.

Automated and accelerated underwriting can reduce wait times for people applying for life insurance, which can improve client satisfaction, writes Kevin Tewksbury of LIMRA Research Data Services. Tewksbury discusses how these processes are affecting the insurance industry and notes that some life insurance writers are considering a move to a fully electronic process.

Some millennials saw significant growth in their net worth during the pandemic as a result of government relief programs and other factors. Advisors recommend that millennials diversify their investments -- particularly if most of their assets are in the form of home equity -- and contribute at least enough to workplace retirement plans to maximize the company match.