It continues to amaze Ed Slott that no other certified public accountants have gotten into his line of business.
“I made the big, bold prediction that 20 years from now people are going to be 20 years older,” said Slott, from his New York office, on his decision in the 1980s to get into the business of preparing people for how they should spend their retirement accounts. “IRAs are like an eggshell. If you break it, you blow it. ”
Slott is a nationally recognized IRA-distribution expert, professional speaker and creator of several public television specials. He has been named “the best source for IRA advice” by the Wall Street Journal.
Slott will be the keynote speaker for the National Association of Insurance and Financial Advisors Delaware 41st Annual Conference at the Bay Center in Dewey Beach, Wednesday-Thursday, May 14-15. This is the first time the conference is a two-day event – and it's the first in the beach area of Delaware.
Except for a couple of years when the event was held in Dover, the conference has always been a one-day affair in Wilmington, said Dan Reisinger, NAIFA Delaware president-elect and 2014 conference chair.
With close to 90 percent of membership living north of the Chesapeake and Delaware Canal, Reisinger said his goal was to create an event that would entice them to Dewey.
This year the conference is spread out over two days to improve networking opportunities, said Reisinger, adding that getting Slott to speak makes it a must-attend event.
Slott created his business shortly after the Tax Reform Act of 1986. There was a complex web of tax rules designed so the U.S. government gets its money in the end, said Slott.
“The IRS doesn't want anything to fall through the cracks,” he said on why having a plan of attack going into retirement is important. “There's going to be a turning point from accumulating to distributing. That's where the exit strategy comes into play.”
Moving the event to Dewey Beach is a roll of the dice, but Slott is a nationally recognized speaker who should draw people who otherwise might not make the drive, said Reisinger.
Reisinger said he is encouraging nonindustry professionals who are interested in their retirement accounts and what to do with them to attend the conference from 2 to 6 p.m., Thursday, May 15. Tickets are $99 for an individual and $149 for couples. Slott is scheduled to speak from 4:30 to 6 p.m.
For more information on the conference or to purchase a tickets, go to www.naifade.org and click on the Conference 2014 tab in the middle of the top of the page. Tickets can also be purchased by calling 302-438-8092.