The Top 10 Major Misconceptions That Financial Advisors Have About The Retirement Plan Business

more+
less-

Being a retirement plan advisor isn’t an easy business because unlike other areas of financial advisory work, retirement plan work does involve more work and concepts about fiduciary responsibility, plan expenses, and plan administration. In addition to working with the client, retirement plan advisors serve as their client’s ombudsman to smooth out any issues with the third party administrator (TPA) and other plan providers.

Retirement plan advisors don’t need to become retirement plan experts, but to improve their client development and retention; they need to partner with good providers such as a TPA and an ERISA attorney. Through my articles (which I allow advisors to disseminate for client recruitment and retention), my speeches at 401(k) Rekon (and other similar plan advisor events), and my open door policy for advisor phone calls (I still don’t charge for advisors to pick my brain), I am dedicated to helping plan advisors out because I believe that better educated and prepared financial advisors will result in better retirement plans because in most situations, the financial advisor is the gatekeeper between the plan sponsor and the other retirement plan providers. The retirement plan industry can often be a difficult place for a financial advisor to break into and there are many misconceptions that are out there that many advisors believe for one reason or another. So this article is an attempt to debunk many of these misconceptions.

LOADING PDF: If there are any problems, click here to download the file.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Ary Rosenbaum, The Rosenbaum Law Firm P.C. | Attorney Advertising

Written by:

more+
less-

The Rosenbaum Law Firm P.C. on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×