Most financial advisors do a great job in stressing the needs to minimize a plan sponsor’s fiduciary liability, yet it’s still so amazing how so many pay so little attention to the third party administrator (TPA) they’re referring their client to. One of the reasons they pay little attention to because they really don’t understand that the TPA can be the major difference between a plan staying in compliance without huge penalties and not. Advisors also don’t realize that referring a bad TPA can go a long way in getting the advisor fired. So this article is about how advisors should be concerned with the TPAs they hire.