Over the past 5 years as a solo ERISA practitioner, I always get asked if that\u2019s all I do. It\u2019s not some kind of insult, but a question on whether I also do financial advisory work and\/or third party administration work. The answer is no and I stick to what I do.<\/p>\n
Over the years, I\u2019ve seen plan providers get into trouble by offering advice that they are not experts in. Unless they have an ERISA attorney on staff, a TPA is not a lawyer and an ERISA lawyer is certainly no financial advisor. My wife and I always chuckle when non-attorneys give legal advice and I\u2019m sure other providers would chuckle if I gave financial and\/or plan administration advice.<\/p>\n
You should stick to what you know. It will save yourself and your client, a giant headache.<\/p>\n
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