Vendettas in the retirement plan business don\u2019t pay your bills. Disputes with other retirement plan providers don\u2019t help grow your business. Years ago, I was invited by a dear friend in the business to speak at a local event for advisors and third-party administrators (TPAs). The top salesman from a local TPA that was a successor in interest to one I worked at, heard I was speaking there and told my friend that he wouldn\u2019t show up because I was there. I think to this day, he might be upset that I blew the whistle on an accounting firm that was preparing audits that weren\u2019t independent. That\u2019s his problem, not mine.<\/p>\n
I\u2019ve made more friends in this retirement plan business than enemies. I\u2019m sure my appetite for speaking my mind has ruffled a few feathers over the years, but that\u2019s me.<\/p>\n
The older I get, the more mellow I\u2019ve become, yet there are situations over the past few years that have caused a range war here and there. While I think I stand for fee transparency and honesty in this business, that doesn\u2019t help me with the folks who still want to operate like it\u2019s 2010. For those folks, I\u2019m a threat, I\u2019m a danger and I get that. I think it matters to have a little perspective and when dealing with adversarial relationships, to figure out what the other side is thinking. If I was involved in a scheme to overcharge plan sponsors, I wouldn\u2019t like someone like me.<\/p>\n
Sometimes, the hero is the villain in a story and that just falls on whose perspective you\u2019re looking at.<\/p>\n
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