The Securities and Exchange Commission has removed crypto asset-related services as a primary focus in its 2026 examination priorities, shifting to fiduciary duty, standards of conduct and customer data privacy. "Examinations are an important component to accomplishing the agency's mission, but they should not be a 'gotcha' exercise," SEC Chair Paul Atkins says. "Today's release of examination priorities should enable firms to prepare to have a constructive dialogue with SEC examiners and provide transparency into the priorities of the agency's most public-facing division."

With Lori Chavez-DeRemer leading the Department of Labor and Paul Atkins heading the Securities and Exchange Commission, wealth management professionals are anticipating regulatory changes in 2026. Chavez-DeRemer and Atkins are expected to take a lighter approach to supervision and enforcement compared with their predecessors, raising questions about the future of the fiduciary rule, the independent-contractor rule and cybersecurity.

Artificial intelligence is transforming wealth management by automating tasks such as portfolio building and client communications, but the human element remains indispensable. Financial advisors who excel in emotional intelligence and empathy build trust and deeper client relationships, addressing clients' real worries about financial security and family well-being. Advisors are encouraged to leverage AI for efficiency while maintaining personal connections to ensure clients feel understood and valued.

Retirements are lengthening as longevity increases and more people leave the workforce earlier, according to Manulife John Hancock's Financial Resilience and Longevity Report. The report shows 52% of respondents retired earlier than planned, at an average age of 56. The report also finds younger generations have a bleaker financial outlook, with more than half of Generation Z and millennials rating their finances as fair or poor, compared with 34% of baby boomers.

Americans are losing billions in investment gains as more 401(k) accounts are left behind when workers switch jobs. Employers are increasingly transferring small balances to IRAs, which often remain in cash. These involuntary rollovers have become more common with automatic enrollment and recent legislation.

SEC Chair Paul Atkins has announced plans to create a "token taxonomy," signaling a major shift in how digital assets are regulated. The proposal could mean that many tokens will no longer be treated as securities, aligning with recent legislative efforts like the Stablecoin Law and the GENIUS Act. While industry veterans have praised the approach for offering regulatory clarity, investor-protection lawyers have raised concerns about potential risks and the need for robust market-structure legislation.

The Securities and Exchange Commission is reopening after a 42-day federal government shutdown ended, but financial advisors and firms might face delays as the agency manages a backlog of filings and examinations. The shutdown also halted new advisor registrations, with compliance experts noting that it is unclear whether the statutory 45-day clock for new registrants began upon filing or when the agency reopened.

The Department of Labor's priorities are shifting rapidly under the Trump administration, driven by a significant reduction in staff at the Employee Benefits Security Administration. Daniel Aronowitz, recently confirmed as assistant secretary of labor, is expected to manage the agency creatively amid these changes. Experts at Faegre Drinker Biddle & Reath note that the staff cuts, part of a broader effort to downsize the federal government, have resulted in a decline in the number of civil cases closed by the Labor Department. The administration is also revisiting regulations on ESG investing and fiduciary duty, with the latter unlikely to survive in its current form.

Investor confidence and trust in the industry remain high, according to the 2025 Voice of Investor Satisfaction, Trust, and Advocacy (VISTA) study. The KPMG LLP independent study, sponsored by SIFMA and released at SIFMA's 2025 Annual Meeting, surveyed 2,000+ investors and found 8 in 10 are satisfied with the industry. But there are significant breaks between younger and older investors. Download the full study to learn more.

Hear key findings from the latest SIFMA Economist Roundtable survey in a member-only briefing with Kenneth E. Bentsen, Jr., President and CEO of SIFMA, and Scott Anderson, Ph.D., Chief U.S. Economist and Managing Director of BMO Capital Markets and Co-Chair of SIFMA's Economist Roundtable. They will discuss the latest economic outlook shaping monetary policy and market expectations.