The best way to keep clients is to look at what you\u2019re doing as a plan provider and what is out there in the marketplace.<\/p>\n
If you are a third party administrator (TPA) and the competition is having much success offering ERISA \u00a73(16) administration, you might have to offer it yourself or allow a third party offer it (cheap plug here for my Austin 3(16) service).<\/p>\n
If you are a broker and you have registered investment advisors touting their fiduciary status or a \u00a73(21) or 3(38) service, it might be a good idea to partner up with Mesirow or a friend of mine, James Holland from Millennium.<\/p>\n
The worst thing you can do is scoff at what is out there. Saying a \u00a73(38) service is just marketing is missing the point and just attacking the service because you are losing clients to providers that offer isn\u2019t going to get those clients back in the door.<\/p>\n
It\u2019s so easy to attack others, but you need to look within if you are losing clients to the competition.<\/p>\n
Don\u2019t be a deer in the headlights and don\u2019t be like my old Managing Attorney and just think your way is the right way and that you\u2019re better than everyone else. Happy clients never leave. Satisfied clients never leave. If you are losing clients, look at what you\u2019re doing or not doing.<\/p>\n
<\/span><\/p>","protected":false},"excerpt":{"rendered":" The best way to keep clients is to look at what you\u2019re doing as a plan provider and what is out there in the marketplace. If you are a third party administrator (TPA) and the competition is having much success … Continue reading