“Like everybody else, I’m just going to listen to what Marcia has to say,” panelist Jamie Worrell, founder and managing director of the Northeast region for Strategic Retirement Partners, joked about fellow pundit Marcia Wagner, president of Wagner Law Group.
Together with Heath Miller of Shepherd Kaplan, the three will (attempt) to explain the Trump Administration and provide a Washington D.C. Update, specifically as it relates to “rules, regulations and real-world issues facing Advisors.
“There are a lot of retirement plan-related class action lawsuits popping up, and the legal and regulatory environment continues to be a landmine, more now than ever,” Worrell explained. “We will be looking at the administration’s impact on advisors, as well as any legal threats that are out there.”
“Marcia and Heath will probably give an overview of some of the key lawsuits we’ve seen,” he added. “We are going to keep it high-level enough so that the audience can easily digest and understand the information, and immediately put it to use to grow their practice.”
With the Fiduciary Rule as a backdrop, he noted, they’ll also consider how that affect advisors, and how it might be different depending on whether the advisor is working with an IRA or an employer-sponsored retirement plan.
“How do advisors proceed between now, and when the full scope of the [regulations] implemented?” Worrell concluded. “As was stated in the ERISA lawsuit of Donovan v. Cunningham: ‘A pure heart and an empty head are not enough.’ Is it enough to try to comply in good faith, or do you have to do more than make a good faith effort to comply? It should be a lively discussion with some key takeaways.”