When I started my law practice almost 15 years ago, I started to look at what the competition was doing and I decided to do things differently. Other ERISA attorneys charge by the hour, they charge for every phone call, and I just didn\u2019t want to nickel and dime clients\u2019 potential referral sources. Helping plan providers on the house by providing articles and answering questions went a long way.<\/p>\n
As a plan provider, you also need to stand out among the crowd. Look at other competing plan providers and do things differently because the competition is usually focusing on one area. If I were a financial advisor, I\u2019d focus on participant education\/enrollment meetings. If I was a third-party administrator, I\u2019d focus on communication with the plan sponsor. I think those are areas that many providers aren\u2019t, just a free suggestion.<\/p>\n
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