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03 March 2020

Webinar: What the SECURE Act Means for Advisors and Their Clients

By Justin Wayne

It’s no secret that enough Americans aren’t saving for retirement, and those that are, aren’t always saving enough. The SECURE Act aims to address this issue through a number of changes to retirement account rules and regulations.

Signed into law in December 2019, the “Setting Every Community Up for Retirement Enhancement Act” is intended to get more working people into the private retirement system. In general, the act makes it easier for small businesses to set up, administer, and enroll employees in “safe harbor” 401(k) plans. It also enables more part-time workers to enroll in employer-sponsored plans and after the 2019 tax year, it pushes back the age at which plan participants must start taking required minimum distributions (RMDs) from 70½ to 72. Additionally, the act allows traditional IRA holders to continue contributing indefinitely.

The passage of the SECURE Act presents an opportunity for investment advisors to engage their clients in conversations about their retirement strategies and explore new options. Given these far-reaching changes, I knew it was a great opportunity to have Black Diamond’s financial planning platform partner, RightCapital, join us for a webinar on the implications of the SECURE Act for advisors and their clients. During the session, Daniel Gregoire, Training Lead for RightCapital, gave the audience an overview of the key provisions of the act that affect retirement planning decisions. He also walked through some case studies outlining potentially advantageous moves clients might want to consider in certain scenarios.

Thanks to the expertise from Gregoire and the entire RightCapital team, the SECURE Act webinar provided advisors with a framework to help initiate productive conversations with clients about updating their investment and tax strategies. If you were unable to attend the live discussion, take a deep dive into the 60-minute recording today.  

RightCapital joined the Black Diamond Wealth Platform’s integration ecosystem last year as the exclusive platform partner for financial planning.  Through this partnership, advisors are able to create a comprehensive financial plan in minutes by using extensive portfolio, account and cost basis data from Black Diamond. To learn more, visit blackdiamond.advent.com/rightcapital or email info@advent.com.