By Barron's Advisor Staff

The primary trust fund that supports Social Security is expected to run out of money in 2033. If Congress doesn't adjust the program to improve its solvency, recipients will have their benefits cut by more than one-fifth across the board. Solutions for Social Security's solvency are on the table and include increasing taxes, reducing benefits, or a combination of both. Yet some 47% of nonretirees believe they won't receive Social Security benefits when they retire, according to a 2023 Gallup survey.

Among other most-read wealth management articles this week:

Best book recommendations . Some of the best advice that financial advisors give clients -- and colleagues -- is to read a certain book. In our latest Barron's Advisor Big Q, financial advisors name seminal books they recommend to help clients and colleagues do everything from conquering negative self-talk to redefining wealth. One example: The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness, by Morgan Housel.

UBS wants a U.S. bank charter . UBS would like to up its banking game in the U.S. On Monday, the Swiss bank filed for a national bank charter with the Office of the Comptroller of the Currency. Although UBS already operates an industrial bank licensed in Utah, acquiring a national charter would allow it to expand the range of services its financial advisors can offer clients, including personal savings and checking accounts.

SEC shutdown hits some advisors . Some investment advisors may be feeling a sense of calm as their principal regulator, the Securities and Exchange Commission, has largely gone dark amid the government shutdown. However, others -- particularly those looking to launch new businesses -- are likely experiencing added stress since advisor registrations are on pause. The bare-bones SEC is focusing instead on market manipulation and continues to monitor for active, continuing fraud that could directly harm investors.

Robinhood's robo looks like a hit . Robinhood's robo-advisor, Robinhood Strategies, is gaining traction with customers. The digital advice service has more than 180,000 funded accounts and more than $1 billion in assets under management just over six months after it launched, Chief Investment Officer Stephanie Guild said last week. Robinhood Strategies' portfolios are managed by investment strategists who oversee asset allocation moves and pick individual stocks. Other robo-advisors primarily build portfolios with passive and actively managed exchange-traded funds.

What Gen Z millionaires want from wealth . The multitrillion-dollar transfer of wealth from baby boomers to their heirs is under way, and advisors need to grapple with how to work best with Gen Z. The high-net-worth Gen Z demographic now controls 11% of global wealth, according to the latest Capgemini World Wealth Report. Our columnist observes that these 20-somethings have been "raised on crypto, Coachella, influencer culture, and instant access to nearly everything," and now they may shift away from fundamentals-based investing strategies.

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October 31, 2025 14:24 ET (18:24 GMT)

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