The Truth Will Set You Free
Feeling like your livelihood is under attack? Consider these recent developments:
PBS devoted an episode of its “Frontline” program to bashing retirement plan advisors and mutual fund fees.
In his FY 2014 budget, President Obama proposed capping amounts held in an individual’s retirement plans at $3 million and double-taxing small business owners’ 401(k) contributions.
The DOL’s effort to broaden the definition of a fiduciary to encompass advisors continues apace; a proposed rule may be upon us in the next few months.
As congressional taxwriters sharpen their tax reform ax, incentives for retirement saving vehicles, including workplace plans, may be on the chopping block.
Why are we taking so much fire from both the media and the federal government?
If there’s an answer to that question, it would take a whole lot more discussion than this modest space allows. But let me suggest one simple thing we could do better when it comes to defending the industry: Tell our story. Not make up a story; not devise a PR campaign. Just tell the truth…
Read the rest of John Ortman’s Letter from the Editor and the excellent cover story by Marcia S. Wagner, “Buyer Beware,” in the brand new issue of Plan Consultant.
Also in the new issue of Plan Consultant:
- The Practical Responsibility of Advisors for Participant Disclosures by Fred Reish and Joan Neri
- The Role of Pre-retirement Disability in Retirement Security by David C. Kaleda and Anna Rappaport
- From the Hill to the Summit by John Ortman
- The Benefits of an ASPPA Benefits Council by Norman F. Pierce and James T. Comer, III
- Six Easy Steps to an ASPPA Certificate by Sarah Simoneaux
- Confidentiality and the ASPPA Code of Professional Conduct by Karen Smith
- Advocating for ASPPA Members by Ronald J. Triche
