I was a fit at my old law firm sort of like how my son\u2019s toddler clothes fit him at age 7.\u00a0 I wasn\u2019t a good fit because I didn\u2019t take myself too seriously, I tried to push for flat fee billing, and I tried to break down difficult retirement plan concepts into Basic English for my clients and for the financial advisors that I was working with. The way I empathized fiduciary responsibility for plan sponsors then and now is that it isn\u2019t brain surgery and clearly that\u2019s a threat when you have to charge $300 an hour for that legal advice because when you charge a premium, you can\u2019t make the advice that much basic.<\/p>\n
The fact is that like keeping a healthy mouth, keeping a healthy retirement plan doesn\u2019t take that much work. It takes dedication and time, but ultimately, a successful retirement plan always requires one constant: a plan sponsor that takes their fiduciary role seriously. So a plan can have the best providers out there and the best fund lineup out there, it\u2019s still probe to problems if the plan sponsor is negligent in their duties. A plan sponsor committed to fiduciary responsibility is the one constant for having a great retirement plan.<\/p>\n
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