I joke that the reason I never hired an employee is because I was one too. I had more than my fair share of bad luck working for people who didn’t appreciate me, and worse, didn’t appreciate their clients. The lesson I took from those years was simple: if you don’t value the people who rely on you, whether they’re employees or clients, you’re building your business on sand. In the retirement plan world, I once worked for a third-party administrator that switched recordkeeping platforms to save a few bucks. They never told the plan participants. Imagine logging into your account and suddenly seeing an entirely different website, different investment lineup, different processes—without a single explanation. If that’s how an employer or a provider treats their participants, it undermines the entire point of the benefit.
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