{"id":873,"date":"2012-02-17T14:42:32","date_gmt":"2012-02-17T19:42:32","guid":{"rendered":"http:\/\/therosenbaumlawfirm.com\/blog\/?p=873"},"modified":"2012-02-17T14:42:32","modified_gmt":"2012-02-17T19:42:32","slug":"why-you-shouldn%e2%80%99t-hire-your-friends-or-family-as-your-retirement-plan%e2%80%99s-financial-advisor","status":"publish","type":"post","link":"https:\/\/therosenbaumlawfirm.com\/blog\/?p=873","title":{"rendered":"Why you Shouldn\u2019t Hire your Friends or Family as your Retirement Plan\u2019s Financial Advisor"},"content":{"rendered":"<div id=\"showDescPanel\">\n<p>They often say that it doesn\u2019t matter what you know, it\u2019s who you know. At one time or another, we have all derived a form of financial benefit because of someone we know. It could be through someone we had previously worked with or through nepotism. Most of the time, \u201cjuicing people in\u201d is harmless, but plan fiduciaries such as retirement plan sponsors could breach their fiduciary duty and\/or commit a prohibited transaction by selecting plan providers just based on a previous relationship whether it\u2019s familial or centered on friendship. This article\u2019s intent is to alert plan sponsors why it\u2019s wrong to hire plan providers just based on the fact they know you, rather than what they know.<\/p>\n<p>For the rest of the article, please click <a href=\"They often say that it doesn\u2019t matter what you know, it\u2019s who you know. At one time or another, we have all derived a form of financial benefit because of someone we know. It could be through someone we had previously worked with or through nepotism. Most of the time, \u201cjuicing people in\u201d is harmless, but plan fiduciaries such as retirement plan sponsors could breach their fiduciary duty and\/or commit a prohibited transaction by selecting plan providers just based on a previous relationship whether it\u2019s familial or centered on friendship. This article\u2019s intent is to alert plan sponsors why it\u2019s wrong to hire plan providers just based on the fact they know you, rather than what they know. \" target=\"_blank\">here<\/a>.<\/p>\n<\/div>\n<p><span class='st_sharethis' st_title='{title}' st_url='{url}' displayText='ShareThis'><\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>They often say that it doesn\u2019t matter what you know, it\u2019s who you know. At one time or another, we have all derived a form of financial benefit because of someone we know. It could be through someone we had &hellip; <a href=\"https:\/\/therosenbaumlawfirm.com\/blog\/?p=873\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n<p><span class='st_sharethis' st_title='{title}' st_url='{url}' displayText='ShareThis'><\/span><\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,1],"tags":[],"_links":{"self":[{"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/873"}],"collection":[{"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=873"}],"version-history":[{"count":1,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/873\/revisions"}],"predecessor-version":[{"id":874,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/873\/revisions\/874"}],"wp:attachment":[{"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}