Tag Archives: Self-directed retirement

Join Us in New Orleans, October 18-20, 2017

RITA’s 30th Anniversary celebration and conference was a stellar success in Washington, D.C. and a special thank you to the attendees and sponsors for supporting our organization. We look forward to sharing the latest news and industry updates at our next event which will be held in New Orleans on October 18-20, 2017. Save the Date!

Jazz Up Your Knowledge of Self-Directed IRAs, for professionals.

Jazz Up Your Knowledge of Self-Directed IRAs, for professionals.

Save the Date! In celebration of our 30th anniversary– we welcome you to join us in Washington, DC on March 27-29, 2017. Not only will you RITA - 30th Anniversary be learning the latest news and updates on the self-directed IRA industry; you’ll have ample time to meet and network with DC influencers! Save the Date! Registration will be opening soon.

Ascensus joins RITA as a sponsor-

We’re proud to announce that Ascensus, Inc. will be a sponsor at the upcoming RITA conference.

“I found the RITA conference to be one the most informative, diverse and insightful conferences that I have ever attended. I came back armed with great information on how to better tailor our company’s solutions to this particular segment of the financial services industry. Thanks!”

Kevin Boyles, CISP, CIP
Director RPS Sales, Ascensus, Inc.

Interested in becoming a sponsor or exhibitor? Click here for more information and to download the form.

Join Us For the Next RITA Conference in Chicago

Register now for the Chicago conference to be held Oct. 18-20.

“66% of advisers believe that alternative investments will become as or more important than traditional investments over the next five years” according to a Morningstar 2010 survey.

Connect with industry experts & network with key decision makers at this jam-packed conference serving the self-directed retirement investment industry.

You’ll learn about:

  • How to limit your exposure from investment fraud & Ponzi schemes
  • Red flag alerts for abusive Roths & ROBS
  • Distressed real estate opportunities
  • Reg R rules revealed: what you need to know

    Register for the Chicago RITA event

    Thrive in the New Retirement Era!

  • Round table discussions: new marketing strategies, compliance & networking
  • Supergrowth of alternative assets: how to capitalize on this trend

Register Now & Save $100 with early bird special rate. Click here to learn more and register.

Register for Chicago - Thrive in the New Retirement Era! (non-members) in Chicago, IL  on Eventbrite

Self-directed Retirement Industry Conference in DC

Just returned from one of the best RITA conferences to date. The feedback has been tremendous.  A special thank you to our speakers. They delivered exceptional content and provided great value to the attendees. And a special thanks to our sponsors! Stay tuned for more comments and testimonials.

Dear Robyn & Mary,
Enjoyed meeting you and benefiting from your work. The RITA conference was great.  Not being in the trust business I found it very informative about self-directed IRA custodian industry.  The last time I was exposed to RITA was over 8 years ago when I attended three successive meetings.  Such an improvement! Everything about the conference was so much better than my prior experiences.
DefiRITA event in DCnitely interested in the October conference.
Sincerely yours,
John O’Scanlon

Join us! The upcoming Retirement Industry Trust Association (RITA) conference in Washington, DC April 26-28 is going to be an intense boot camp for the self-directed retirement plan industry attendees. 
With more than 30 people already registered, the 15 speakers include headliners Mark Iwry from Treasury who is known as the retirement czar.  Tom Brisendine, a former IRS Director, gave RITA an important valuation letter in 1993 and is going to discuss the latest on alternative investment valuation.  We expect a current IRS Director to update us on the hot issues at the IRS right now including Abusive Roths and ROBS. 
Register for Thrive in the New Retirement Era! in Washington, DC  on Eventbrite

You’ll learn about:

  • Growth in IRAs:  what the latest research shows & how to maximize your share
  • Note Servicing:  important issues affecting investors, trust companies and third party administrators
  • Single Member LLCs and how to mitigate risk
  • FDIC insured deposits in retirement plans
  • How to expand your practice with alternative investments & more

We will have open discussions on the recent DOL hearings on the definition of fiduciary, working with the SEC and other state regulators. Looking forward to seeing you at this exciting conference. Thrive in the New Retirement Era! Click here to register now and learn more.

Sponsorship Opportunities available. Click here for more information.

Definition of who is a fiduciary

Tom W. Anderson, president, Retirement Industry Trust Association Tom Anderson, RITA’s President, who was accompanied by Mary Mohr,RITA Executive Director, just completed his testimony in

Mary L. Mohr, Executive Director, Retirement Industry Trust Association

Washington to the Department of Labor (DOL).

He reported that the hearing held by the Department of Labor (“Department”) on their proposed changes to the definition of who is a fiduciary under ERISA and IRC 4975, has concluded. Individuals representing thirty-three organizations or firms each had ten minutes to present to a panel of Department of Labor Leaders including the Assistant Secretary of Labor for Employee Benefits, Phyllis Borzi.
There was an almost unanimous denunciation of the Department’s proposal by all parties, with the most common complaint being concerns about the impact a change in status would have on the costs of doing business for many industries. Some even questioned the feasibility and even the viability of continuing to maintain certain business due to the burden that a fiduciary status would have on them. Some of the specifics noted were increases in the costs for insurance, documentation, training, staff, liability, liability insurance and litigation. Some felt the fiduciary status would present a conflict with their current code of ethics and standards of conduct because it would remove them from a position of providing independent advice to one where they had a fiduciary responsibility to their client; a situation which could influence and bias their decision. This particular issue was debated at length by the representatives of organizations that perform valuations and appraisals.
Tom W. Anderson, president, Retirement Industry Trust Association

Tom W. Anderson, president of the Retirement Industry Trust Association, RITA testifies to the Department of Labor on their proposed changes to the definition of who is a fiduciary under ERISA and IRC 4975

Most speakers noted a concern for potential conflicts and redundancies between the DOL’s proposal and similar regulation changes coming from other regulatory agencies such as the SEC. The Department stated that they understand the need to “harmonize” their proposal with such agencies and they intend to do so. Finally, many speakers challenged the facts and research on the part of the Department that apparently lead to the proposal, with some claiming that there was no documented basis for changes to current legislation and if their was a benefit, that is was far outweighed by the cost. Many wanted to make the Department aware that if their proposal was aimed at helping the consumer by raising industry standards and accountability and to facilitate the Department’s enforcement to deal with bad actors, that there had to a corresponding recognition of the cost of implementation and ongoing compliance. Frustrated speakers, who felt that the impact analysis was lacking, pointed out that such costs would ultimately be passed along to the consumer.

Tom Anderson, representing RITA stressed that RITA members should not be considered fiduciaries merely because they are obligated, under the Internal Revenue Code, to report asset values (obtained from third parties and fiduciaries such as plan or IRA trustees) for assets held. In addition, he stated that the fact that RITA members provide basic information to IRA holders concerning the tax, processing, and rules regarding IRA distributions, should not make members fiduciaries as indicated in the proposal. Lastly, Mr. Anderson indicated that the class exemption granted defined contribution plan administrators from the fiduciary designation for providing their customers with educational material and a platform for mutual fund and trade processing, should be extended to IRA custodians as well.

Like others, Mr. Anderson pointed out what he feels are the likely consequences, many of which he feels might be unintended, that would result and impact to the self-directed IRA industry if the current proposal was enacted, and urged that the Department reconsider. He asked that at the least, that the DOL add clarifying language to exempt directed IRA custodians from the fiduciary designation status, as they have no conflict of interest and do not perform valuations. Mr. Anderson closed his remarks by thanking the department for the opportunity to speak and offering to assist with their project in any manner if so desired.

Mr. Anderson feels that the outcome from industry input at the hearing has highlighted many issues that the DOL will have to consider and reconcile. This no doubt will likely significantly impact the final result and the timing of its implementation, originally planned for year-end 2011.

Copies of the presentations will be posted in a few days to the Department’s web-site and will remain for another 15 days.