Los Angeles partner Fred Reish was named to RIABiz’s list of the 10 Most Influential Individuals in the 401(k) Industry Affecting RIAs for 2012. He is the only practicing attorney to make the top ten.
The article describes Fred as “one of the most authoritative and knowledgeable leaders about any aspect of retirement plans.”
Fred told RIABiz that he enjoys the time he spends teaching. “Instead of teaching students in formal schools, I’m teaching at conventions and hotels. I’m using LinkedIn and newsletters. I’m teaching in every way I can. I don’t deal directly with participants, but I’m trying to help the industry help participants,” he said.
Referring to the confusing and complex new 401(k) rules issued in 2012, the article notes Fred was quick to respond, sending out LinkedIn messages to more than 6,000 people.
In the article, Fred paid tribute to his team members, who work directly with clients when he is traveling the country and drumming up business. “I’ve built up a great team,” he said. “Experience is irreplaceable. Having worked with a team of people for many years, I can help design a strategy for a client and I have all sorts of people who are there to implement it.”
In 2013, Fred said he plans to continue traveling and educating RIAs. He also said he thinks the economy will start to turn around, however, RIAs should anticipate some hard times ahead as possible 401(k) tax changes seem likely.
He also said he anticipates that in 2013, RIAs could be vulnerable to investigations from the DOL. The DOL routinely conducts investigations, but he points out these investigations will essentially be new because they’ll be scrutinizing RIAs’ fee disclosures from last year.
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