Financial professionals can improve client retention and generate referrals by addressing the emotional aspects of money management. Embracing empathetic communication and helping clients develop their emotional resilience can help, writes Ben Sullivan of AE Wealth Management.

S&P Global has reaffirmed its AA+ credit rating for the US, citing revenue from President Donald Trump's tariffs as a factor. The US reported a $21 billion increase in customs duty collections in July, though the budget deficit grew by nearly 20% to $291 billion. S&P projects the general government deficit to average 6% of GDP from 2025 to 2028, down from 7.5% in 2024.

The Nasdaq composite slid around 1.5% on Tuesday as the market grappled with weakness at certain Big Tech businesses. Meanwhile, investors continue to look ahead to Federal Reserve Chair Jerome Powell's upcoming speech at the Jackson Hole symposium. In addition to offering clues about the course of monetary policy, observes note that Powell could also lay out a broader vision of the central bank's approach to managing its dual mandate.

Federal Reserve Governor Michelle Bowman has emphasized the need for regulators and banks to recognize the importance of technologies such as AI and cryptocurrency to maintain the banking system's relevance. "Change is coming," Bowman said, who is the top bank watchdog at the Fed.

State-run auto IRAs have surpassed $2 billion in assets, with more than 1 million workers participating, according to Pew Charitable Trusts. "This rapid growth stems from better-than-average market performance, a 25% increase in saver accounts, and higher average savings rates as programs mature," said Pew's Kim Olson.

Wyoming has introduced its own stablecoin, the Frontier Stable Token, becoming the first state to do so. The token, backed by dollars and short-term Treasurys, aims to allow for instant transactions. The launch follows the recent signing of a federal stablecoin regulation bill by President Donald Trump.

Leaders from Manulife and AXA discussed their approach to AI integration, touching on the value of deploying tools across the value chain and focusing on ongoing training and change management.

Reconsidering rigid money scripts -- deeply held beliefs about money formed from early experiences -- is a crucial step for achieving stability. These scripts are "stories we have internalized, often from early experiences, which may have protected us once but now tend to limit us," Rick Kahler writes.

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