When you meet retirement plan sponsors just at different networking events and they find out that you\u2019re a retirement plan provider, they may volunteer that their retirement plan is in perfect shape. As we know as retirement plan providers, they often don\u2019t know if that really is true. However, they volunteer that information because they don\u2019t want to talk about their retirement plan and don\u2019t want to be solicited.<\/p>\n
I\u2019m not saying that you should harass them, but I certainly don\u2019t think you should take their word for it. I had an advisor call me up where he approached a company and was told that they had a $1 billion 401(k) plan and everything was fine. Of course, the advisor checked and the plan was about $930 million short of $1 billion. It was also on an expensive bundled platform and had 95 investment options on them.<\/p>\n
What\u2019s the advisor likely to do? Take that information and approach the plan sponsor in a delicate manner and how they\u2019re probably paying too much in plan expenses.<\/p>\n
The point is that you can have multiple bites at the apple and that just because a plan sponsor is trying to dismiss you, doesn\u2019t mean you shouldn\u2019t check up to see f they\u2019re telling the truth about your plan.<\/p>\n
<\/span><\/p>","protected":false},"excerpt":{"rendered":" When you meet retirement plan sponsors just at different networking events and they find out that you\u2019re a retirement plan provider, they may volunteer that their retirement plan is in perfect shape. As we know as retirement plan providers, they … Continue reading