Cracking the Code

A WEALTH ADVISOR’S GUIDE TO THE SECURE ACT, SECURE 2.0, AND OBBB ACT

By Lance Lehman CFP^®, CIMA^®, CPWA^®

WEALTH MANAGEMENT’S ITERATIVE and always-evolving approach demands a high comfort level with change. In addition to adapting to clients’ changing needs and preferences, as well as market fluctuations and expanding investment options, wealth advisors have the obligation to stay well-versed in the effects of changing regulations and legislation.

The passage of the original Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, followed by its encore, the SECURE 2.0 Act of 2022, and the One Big Beautiful Bill (OBBB) Act in early 2025, has altered the landscape for retirement planning radically. Perhaps more importantly, not since the 1980s have we seen a series of legislative changes come through so rapidly, significantly affecting retirees and those planning for retirement. Their combined effects have put professionals in the position of advising on increasingly complex rules regarding retirement account contributions, distributions, taxation, the definition of a beneficiary, and notably the conditions and timeline under which a beneficiary can inherit retirement assets.