Page 10 - Investment Advisor - November 2023
P. 10
EdItor’S NotE
By Janet Levaux
Leadership Lessons
LUMINARIES finalist n our September issue, we highlighted the recent achievements of industry
leaders and pioneers being recognized as Class of 2023 LUMINARIES Finalists
Jamie Hopkins focuses Iin Innovation and Thought Leadership. This month, we feature the awards pro-
much of his work on gram’s second group of finalists in Community Impact and Executive Leadership.
An evolution of our Broker-Dealers of the Year awards, the third-annual
retirement-income LUMINARIES program shines a spotlight on how top-performing industry par-
planning and has been ticipants — both firms and individuals — produce meaningful results through efforts
that matter most to advisors.
busy digging into a LUMINARIES finalist Jamie Hopkins focuses much of his work on retirement-
question recently asked income planning. As our reporter John Manganaro explains in his Retirement Planning
coverage this month, Hopkins has been busy digging into a question recently asked by
by business professor business professor Javier Estrada: “In retirement planning, is one number enough?”
Javier Estrada: “In “Estrada is asking an important question,” Hopkins says, “and is pointing out that
retirement planning, is advisors have had too much focus on one number when it comes to deciding what
retirement strategy makes sense — the failure rate of a portfolio in a traditional
one number enough?” Monte Carlo simulation.”
Another key issue, Hopkins points out, is examining if clients can really have a
“successful” retirement if they’re extremely afraid to spend money. He adds: “Now
remember, you should pick a strategy not based just off of this research [by Estrada]
but one that resonates with you and that you can understand. You should also not
get too overly focused on one number. Remember, success isn’t binary and neither is
your retirement.”
Taking a deep dive into fiduciary matters like Regulation Best Interest, Senior Editor
and Washington Bureau Chief Melanie Waddell explains in this month’s Playing Field
column: “A new fiduciary rule in Massachusetts brings with it a renewed impetus for
other states to move forward with their own fiduciary rules — creating a patchwork of
regulations, some observers complain — and is also an indication that Reg BI is flawed.”
In addition, Ron Rhoades, associate professor of finance at Western Kentucky
University and director of its personal financial planning program, said in an email
to Waddell that the recent Massachusetts Supreme Judicial Court decision “adds
additional traction to the ongoing movement in the marketplace, aided by fiduciary
advocates and federal and state securities regulators, to move toward a bona fide
fiduciary standard.”
We hope you enjoy reading this month’s issue, and we wish you a pleasant and safe
Thanksgiving. As always, we are very grateful for your support of this publication
and its staff!
GroUP EdItor-IN-CHIEF
8 Investment AdvIsor November 2023 | ThinkAdvisor.com
