In the pre- SpaceX days, it didn't really matter which major index benchmark an investor chose, whether it was constructed by Standard & Poor's, the Center for Research in Security Prices $(CRSP)$, or FTSE Russell. They all offered comparable returns. But now some indexes have added SpaceX while others are waiting. Results of exchange-traded funds based on indexes could rise or fall based on whether they include SpaceX. Retirement investors need to account for this new risk, writes guest columnist Daniel P. Wiener, founder and former chairman of RWA Wealth Partners.

Among other most-read wealth management articles this week:

Yes, financial fraud is everywhere . Financial fraud has evolved into a persistent reality for many Americans, with increasingly advanced scams making victimization more common than ever, according to new research from the CFP Board. Although 71% of Americans claim they can identify phishing attacks, only 37% are confident they can detect every kind of financial fraud, the research finds.

Merrill recruits three father-son teams . Merrill Lynch has scored a series of recent recruiting wins, bringing in three teams managing a total of more than $1 billion from rival firms in June. Each of the teams includes a father and at least one son. The teams are based in Florida, Iowa, and California and come from Wells Fargo, Baird, and Morgan Stanley.

J.P. Morgan fights large advisor award . J.P. Morgan Securities has made good on its pledge to challenge a $4.25 million award it was ordered to pay to a former advisor who alleged that he had been wrongfully terminated for expensing a platter of sandwiches for a 2024 Super Bowl get-together. The firm says that an arbitration panel erred in granting any relief to Brent Bodner, whom it says was an at-will employee who could have been fired for any reason, or none at all. Brodner, now at Wells Fargo, says the Super Bowl event was for clients and prospects and had been preapproved.

Best bond strategies . It is a tricky time for bond investing, thanks to stubborn inflation risks and a muddy outlook for interest rates. The Iran war added to inflation pressures, and the Federal Reserve has a new chief in Kevin Warsh. How are investment advisors navigating this environment? We put that question to a panel of experts in this week's Barron's Advisor Big Q. Investment advisors told us they are sticking with short-duration bonds and are finding some opportunities to boost yields.

Napfa issues new fiduciary standards . The National Association of Personal Financial Advisors has adopted a new fiduciary standard. It aims to ensure that every investment recommendation reflects high standards of care, loyalty, and other core duties. The new standard builds on the group's existing fiduciary oath, underscoring its mandate that members operate fee-only practices.

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June 26, 2026 14:12 ET (18:12 GMT)

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