The Federal Reserve announced a quarter-point reduction in its benchmark interest rate, marking the second reduction of the year. A statement from the Federal Reserve noted that "job gains have slowed, and the unemployment rate has edged up but remained low through August." However, Fed Chair Jerome Powell said that an additional rate cut in December is "far from" certain.

As the macro backdrop shifts, disciplined fixed income strategies may help manage risk while seeking alpha.

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Total annuity sales reached $119.3 billion in the third quarter, according to preliminary LIMRA data, marking the eighth consecutive quarter of sales above $100 billion. Demand for registered annuity products helped drive the gain.

Many Americans may not properly assess their chances of living to older ages, potentially affecting their odds of a successful retirement, according to research from the Center for Retirement Research at Boston College. Financial professionals can help provide necessary education to clients.

US stocks were mixed on Wednesday as investors reacted to the Federal Reserve's rate cut and the latest trade developments. The US and South Korea highlighted a breakthrough on trade, with a South Korean presidential aide indicating that the countries would lower reciprocal tariffs to 15%. In addition, South Korea will invest $150 billion in shipbuilding and earmark an additional $200 billion as part of an investment pledge.

The government shutdown could lead to irrecoverable economic losses of up to $14 billion, depending on its duration, according to the Congressional Budget Office.

Discussion surrounding the recent passing of actress Diane Keaton has highlighted the potential role of pet trusts in estate planning. Elizabeth Acevedo of Weinstock Manion notes that such a trust "should provide guidance on the type of care that the trustee should pay for with trust assets (for example, veterinary care, including specialists, walking services, grooming services, specialty food, boarding, etc.)."

New reporting requirements for limited liability companies are scheduled to take effect at the beginning of next year in New York. Here is a look at which entities will be affected, key filing deadlines and penalties for those that don't comply. "The State of New York hasn't yet issued final implementation guidance or released its filing portal," writes attorney Lara Sass.

Multiple strategies may help savers achieve financial security in retirement, including delaying Social Security benefits and considering annuity products, writes Joe Toledano of Morgan Stanley Wealth Management. "Annuities may also potentially be used to help retirees manage one common behavioral pitfall in investing: emotional reactions to market volatility," Toledano writes.