When It’s Time To “Retire” Your Retirement Plan’s Financial Advisor

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In business, there are times when you have to save goodbye. It can be for a variety of reasons such as a business partner who no longer fits the needs of a company or finding someone else who can do a better job at a better price. When it comes to the financial advisor working on a retirement plan, there are certain instances where a plan sponsor would be wise to retire their retirement plan advisor because an advisor who no longer fits the needs of their plan increases their potential liability as a fiduciary. It’s very tough to say goodbye, but it beats putting the plan and company at risk to continue that relationship.

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Tax

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

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