In Part One we saw how, unlike Betty Crocker, Judy Diamond was actually a real person who started a document retrieval business in 1959 and, with the passage of ERISA in ’74, gave the U.S. business world a stunningly lucrative glimpse into the not-so-seething underbelly of the retirement and benefits industries.

The problem with the ERISA Act, at least from the perspective of Judy’s clients, was that the government didn’t pass it simply so financial advisors or insurance brokers could make money. The feds put disclosure provisions in place to protect the rights of plan participants, not for lead generation.

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