The Financial Services Institute's 2026 OneVoice conference highlighted the organization's recent accomplishments, including litigation against the Department of Labor's independent contractor rule and the launch of FinancialCareers.org to attract new advisors. FSI also outlined 2026 priorities, which include prioritizing advocacy around worker classification, supporting the Modern Worker Empowerment Act, and opposing state measures that threaten the independent advisor model.

Former Securities and Exchange Commission enforcement chief Peter Chan told the House Financial Services Subcommittee on Capital Markets that the SEC has increasingly set policy through settlements and litigation rather than clear rules, creating de facto rules without transparency or due process. Chan's testimony was grounded in a January 2024 white paper he co-authored for the Financial Services Institute, which analyzed how the SEC's reliance on enforcement actions rather than formal rulemaking undermines due process and erodes market confidence.

The Financial Industry Regulatory Authority plans to seek the Securities and Exchange Commission's approval to make electronic delivery the default for investor disclosures and communications. Investors would still be able to request paper delivery at no cost under the update, which is part of the FINRA Forward initiative.

Advisors working with Generation X and older millennials often face challenges related to clients' aging parents, such as emotional barriers and family dynamics, says Sarah Wotherspoon of Wealthspire. Wotherspoon notes that these issues can complicate planning even for wealthy clients. She suggests using retirement cash flows and estate planning reviews as entry points for these conversations and emphasizes the importance of clarifying roles and responsibilities within families.

Referrals from clients, friends and family account for more than half of advisors' new clients, but networking with professionals such as attorneys and CPAs is the second most common source, according to research from Cerulli Associates. Joint meetings with clients or prospects, connecting over personal interests and referring clients to other professionals can help advisors build strategic alliances.

Recent changes to the federal deduction limit for state and local taxes could lead to larger refunds for some filers this year. To take advantage of the raised $40,000 SALT deduction cap in 2025, taxpayers must itemize their deductions instead of claiming the increased standard deduction, which is now $15,750 for singles and $31,500 for married couples.

Retirees are finding that out-of-pocket medical expenses are significantly diminishing their income, according to an analysis by the Center for Retirement Research at Boston College. At the median, retirees aged 65 and older have only 71% of their Social Security benefits left after medical costs, with those in lower income brackets seeing even more of their income depleted.

Financial advisor Brian Teets emphasizes the importance of timing when claiming Social Security benefits, noting that decisions can affect lifetime benefits by $200,000 to $300,000. Teets also highlights the impact on spousal and survivor benefits, the potential tax implications and the need to consider overall retirement plans rather than making isolated decisions.