“For Want of a Nail” is a proverbial rhyme that shows that the smallest of action can have huge consequences later down the line, just like a snowball effect “For want of a nail the shoe was lost. For want of a shoe the horse was lost. For want of a horse the rider was lost. For want of a rider the message was lost. For want of a message the battle was lost. For want of a battle the kingdom was lost. And all for the want of a horseshoe nail.” When it comes to being a retirement plan sponsor, the greatest threats in breaching fiduciary duty resulting in liability usually comes from the smallest mistakes. So this article is to let you know which mistakes to avoid that are nails that can cause your financial kingdom to be lost.
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