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Professional Practice Finance & Banking

Read need-to-know updates, commentary, and analysis on Professional Practice issues written by leading professionals.

Location of your plan provider isn’t an issue these days

by Ary Rosenbaum on

I’m the guy who will travel to a Target further from my home because the Target in Farmingdale is far better than Westbury and Valley Stream and people think I’m crazy to travel 15 minutes more for a better run store with...more

Advisors Advantage - November 2017

by Ary Rosenbaum on

The Bottom Line For Retirement Plan Providers. More plan assets for your clients is a good thing for many reasons. When I had the idea of starting a National ERISA practice 10 years ago, I knew I would have a tough time...more

IRS announces 2018 retirement plan limits

by Ary Rosenbaum on

As 2017 nears its end, we already have the retirement plan limits set for 2008 by the Internal Revenue Service (IRS). For 401(k) plans, the 2018 limit for salary deferrals contributions is $18,500, up $500 from 2017’s...more

It Looks Good On Paper For The 401(k) Plan Sponsor, But…

by Ary Rosenbaum on

Often there are things that look good on paper and don’t look good in practice like an Apple Newton or Incredible Universe. Those business bombs cost the businesses that pushed them out. For 401(k) plan sponsors, they can ill...more

The Bottom Line For Retirement Plan Providers

by Ary Rosenbaum on

When I had the idea of starting a National ERISA practice 10 years ago, I knew I would have a tough time in getting clients especially when the law firm I was at had partners that weren’t interested in selling my services to...more

What To Avoid In Hiring Plan Providers As 401(k) Fiduciaries

by Ary Rosenbaum on

A plan sponsor has so many things to do in running a business that they often forget that as a 401(k) plan sponsor, they are also a plan fiduciary. Being a plan fiduciary requires the highest duty of care in equity and law....more

[Event] 1st Annual FinTech Update - November 9th, Chicago, IL

by Vedder Price on

Chicago is at the center of a new and growing industry. This complimentary program is designed as a concise briefing on the latest developments in the FinTech industry for C-Suite executives....more

Avoid the headache: Stick to what you know

by Ary Rosenbaum on

Over the past 7 years as a solo ERISA practitioner, I always get asked if that’s all I do. It’s not some kind of insult, but a question on whether I also do financial advisory work and/or third party administration work. The...more

Don’t get out of your level of comfort

by Ary Rosenbaum on

I started this law firm about 17 years ago as a side project. It is where I could offer legal services on the side while I did my normal day job. It was an experiment on whether I could go out on my own and I learned during...more

How And Why Plan Providers Should Help Increase 401(k) Plan Assets

by Ary Rosenbaum on

Many years ago, I was an ERISA attorney working for a “producing” third party administrator (TPA) that was very successful because of its in-house registered investment advisory firm advising a good portion of the 401(k)...more

Retirement Plan Features Going The Way Of Bell Bottoms and Betamax

by Ary Rosenbaum on

The retirement plan business is like pieces of technology; there are features and concepts out there that are going the way of bell bottoms and Betamax. As a retirement plan sponsor, you need to be up to date with the changes...more

You Might Be The Plan Provider That They Don’t Need Right Now

by Ary Rosenbaum on

When it comes to Super Hero movies, the best by far is The Dark Knight. It was a gripping drama with well-written characters that just happened to be about super heroes and villains. The movie is full of great, thought...more

Good Housekeeping Tips Every 401(k) Plan Sponsor Should Follow

by Ary Rosenbaum on

Good housekeeping isn’t just about keeping your house clean, it’s about keeping everything in order. When it comes to being a 401(k) plan sponsor, good housekeeping isn’t about dusting and putting baking soda in the...more

One From The Heart

by Ary Rosenbaum on

The Dark Knight Rises is one of my favorite movies and one great scene at the end is when Catwoman tells Batman: “You don’t owe these people anymore. You’ve given them everything” and Batman says: “Not everything. Not...more

What They Don’t Know As A 401(k) Sponsor May Hurt Them

by Ary Rosenbaum on

When I worked at a semi-prestigious law firm, one of the named partners (whose son is a Congressman who was kind enough to offer me a cannoli at a Knicks-Clippers game a few years ago) asked me what my practice was. I told...more

Focusing Just On Fees Can Make 401(k) Plan Sponsors Neglect Other Problems

by Ary Rosenbaum on

Thanks to regulations requiring fee disclosure, media coverage, and a lot of litigation, 401(k) fees are still a huge topic for plan sponsors. Retirement plan providers talk about fees all the time because it’s a huge...more

Stick to a plan that will work

by Ary Rosenbaum on

When I first started out, I worked as an attorney affiliated with a third party administration (TPA). The problem with this TPA that it had 4 main partners and two other employees who had small ownership interests; it was a...more

Avoid Mistakes Other Plan Providers Make

by Ary Rosenbaum on

Being a retirement plan provider is tough. I know because as an ERISA attorney, I am one and I play on TV. There are many mistakes to be made as a retirement plan provider, so the point is to try to avoid as many mistakes as...more

Recent Massachusetts AG consent order places new requirements on debt collection law firm

by Ballard Spahr LLP on

In a recent consent order with a legal collection law firm, the Massachusetts Attorney General imposed significant restrictions on legal collection that go beyond previous CFPB consent orders, which we covered here. We...more

The Plan Providers That A 401(k) Plan Sponsor Needs

by Ary Rosenbaum on

When an employer decides to start a 401(k) plan, one of the biggest problems out there is that they don’t know who they need. They know that they need someone to help on their retirement plan, but they don’t know who. One of...more

Clues That There are Problems With A 401(k) Plan Provider

by Ary Rosenbaum on

When it comes to illnesses and diseases, there are usually warning signs out there. Whether you can come out healthy from a debilitating illness or disease is dependent on whether you can tell the warning signs. I’ve seen...more

They can’t see it, since they caused it

by Ary Rosenbaum on

A few years back, I had the worst call with a prospective client in the 19 years I have been an ERISA attorney. This 401(k) plan sponsor was like many prospective clients, poor participation and paying too much in fees....more

Mistakes An Employer Should Avoid Starting A 401(k) Plan

by Ary Rosenbaum on

I’m a firm believer that you need to get off on the right foot if we start something new. Otherwise, you have tough time recovering. When I talk about getting off on the wrong foot, I always remember wanting to get involved...more

Advisors Advantage - August 2017

by Ary Rosenbaum on

Marketing For Plan Providers: What It Can Do And What It Can't. It's not the answer for everything. For retirement plan providers, good marketing is essential. It's so essential that there are marketing gurus out...more

Popular Reads on JD Supra

by JD Supra Perspectives on

A recap of popular reads published on JD Supra last month, covering everything from FinTech to legal marijuana, from content marketing to tax reform....more

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