By Barron's Advisor Staff

Many Americans dream of an early retirement, but for some, it is an unhappy circumstance forced on them. A new survey from Allianz Life found that 42% of Americans retire earlier than they anticipate, and the reasons are usually beyond their control. Only 21% of those who retired early said they did so because they had saved enough money. Others cited health issues or job loss as reasons.

Among other most-read wealth management articles this week:

Child actor turns financial advisor . Guest columnist Robert Gorman, the co-founder of a multibillion-dollar RIA, writes about how his first career as a child actor in Hollywood shaped his approach to wealth management. He says his clients are often surprised to learn that he had been a child actor before becoming an advisor. His film credits include Don't Tell Mom the Babysitter's Dead and Forever Young, and he had a recurring role on the TV series Falcon Crest.

SoFi goes in for AI . SoFi Technologies unveiled SoFi Coach on Tuesday, an interactive chat tool powered by artificial intelligence that will provide customers personalized financial guidance. With SoFi Coach, customers can track their spending, manage debt, and plan for the future, according to the San Francisco-based company. Customers can ask questions about how much they spent on recurring subscriptions last year or whether it's better to prioritize paying off their credit cards or student loans, to name a few examples.

Why Wellington is buying Hartford Funds . Asset manager Wellington Management has agreed to buy Hartford Funds from The Hartford, an insurance and financial services company. The acquisition of the funds unit will boost Wellington's reach with financial advisors who use Hartford investment products. The deal comes amid continuing consolidation within the asset-management industry as companies seek to gain greater scale.

Water scooter escape gone wrong . A California man who oversaw a $35 million investment fraud scheme and tried to evade arrest by fleeing on an underwater scooter was sentenced last month to 30 years in prison for wire fraud, money laundering, and witness tampering. Matthew Piercey, 49, of Palo Cedro, had pleaded guilty to 27 charges in May 2025. His lawyer filed a notice of intent to appeal the sentence.

Raymond James nabs Commonwealth team . Raymond James Financial has recruited a 24-person team overseeing $2.8 billion in client assets from Commonwealth Financial Network. Financial Strategies Retirement Partners, based in Bedford, N.H., joined Raymond James' independent advisory channel in May. It's the latest team to exit Commonwealth after the independent broker-dealer was acquired by LPL Financial.

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June 05, 2026 14:54 ET (18:54 GMT)

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