The Consolidated Appropriations Act of 2023 which contained SECURE Act 2.0 was signed into law December 29th 2022.
The bill was passed with bipartisan support. SECURE Act 2.0 was a robust bill that touches on many different aspects of the retirement world. In the wealthmanagement.com interview, Vince Morris, President of OneDigital Retirement + Wealth stated, “While the Act’s 92 provisions will help improve retirement outcomes for millions of Americans, for financial advisers and their individual and retirement plan clients, the array of new rules is a bit like the dessert menu at the Cheesecake Factory: Very appealing yet staggering.”
The new laws passed will give many opportunities for advisers. The article breaks down three specific opportunities for business growth, opportunity to offer employee education, for wealth advisers to step into plan advice, and for current retirement plan advisers to add features to the plan. These are among many of the opportunities for business development. The SECURE Act provisions are requiring employers to think about the retirement plans they currently offer, and what changes need to be made. This creates a great time for advisers to come lend a helping and guide employers through the needs of their plan.
Rarely in the past has one piece of legislation offered so many benefits to such a broad range of new and existing investors — as well as so much opportunity for financial advisers.
— Vince Morris, President, OneDigital Retirement + Wealth
If you would like to read the full Wealth Management interview, please click here.
Want to read more about SECURE 2.0? Check out our Secure 2.0 Hub for all content on the new legislation: Retirement Plan Secure Act 2.0 Hub.
Investment advice offered through OneDigital Investment Advisors, an SEC-registered investment adviser and wholly owned subsidiary of OneDigital.
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