What a difference a presidential election makes. I recently had a chance to quiz several different well-regarded financial writers about what 2016 events they felt produced the most significant course alterations within the retirement plan industry (see “These Five Developments Dramatically Changed the Retirement Fiduciary World in 2016,” FiduciaryNews.com, December 13, 2016). These folks aren’t just bloggers, they live and breathe each day as professionals within the industry. That gives them a perspective not often found in the reporting of full-time journalists.
In fact it was a stimulating discussion, filled with phrases like “fiduciary rule,” “State-run retirement plans,” and “Excessive fee litigation.” We explored many iterations and scenarios. We conjured up a cornucopia of scenarios. In many ways, we expressed the thoughts of many others who reflected on this very same subject. It was all fun and games,… until we came face to face with the 800-pound gorilla in the room.
The early morning hours of Wednesday, November 9th finally confirmed what the previous evening made surprisingly clear: Donald J. Trump was elected as the 45th President of the United States of America. It’s become a cliché to say the winner of the presidential election – any presidential election – stands out as the most influential person of that year. In the case of President-rlect Trump, this represents no banal platitude, but a dramatic understatement.
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Christopher Carosa
Chris Carosa has been writing a weekly article and monthly column for BenefitsPRO online and BenefitsPRO Magazine since 2011 and is a nationally recognized award-winning writer, researcher and speaker. He’s written seven books, including From Cradle to Retire: The Child IRA; Hey! What’s My Number? – How to Increase the Odds You Will Retire in Comfort; A Pizza The Action: Everything I Ever Learned About Business I Learned By Working in a Pizza Stand at the Erie County Fair; and the widely acclaimed 401(k) Fiduciary Solutions. Carosa is also Chief Contributing Editor of the authoritative trade journal FiduciaryNews.com and publisher of the Mendon-Honeoye Falls-Lima Sentinel, a weekly community newspaper he founded in 1989. Currently serving as President of the National Society of Newspaper Columnists and with more than 1,000 articles published in various publications, he appears regularly in the national media. A “parallel” entrepreneur, he actively runs a handful of businesses, including a small boutique investment adviser, providing hands-on experience for his writing. A trained astrophysicist, he also holds an MBA and has been designated a Certified Trust and Financial Advisor. Share your thoughts and story ideas with him through Facebook (https://www.facebook.com/christophercarosa/)and Twitter (https://twitter.com/ChrisCarosa).
