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Will the #MeToo movement come to wealth management? "A lot has been said about this in other professions, but not so much in ours. But we know those stories are out there," says Jocelyn Wright, chair of the Women's Center at the American College.

When it comes to figuring out the right amount of life insurance to buy, it’s tempting to rely on rules of thumb, such as purchasing a multiple of your annual income—say, 10 to 15 times your salary—as a death benefit. That would at least ensure that your family received that income for a specific period of time.

There are “a lot of misconceptions about reverse mortgages,” Wright said, with clients often “very reluctant to go into the conversation because their home is the largest asset and they don’t want to risk” losing it. “There’s also more education needed among the advisor population,” Wright added.

The CFP Board Center for Financial Planning announced today that it has formed a new Diversity Advisory Group to provide guidance and expertise in the development of diversity and inclusion initiatives that will increase the racial and ethnic diversity in the financial planning profession.