When you hire a financial advisor for your plan, they typically are paid quarterly from plan assets. Yet some so many plan sponsors pay hat quarterly fee and their advisor have been missing in their job, that they should be placed on a milk carton.

If you’re paying for an advisor, you need to make sure they’re doing their job. That means contacting you regularly about changes in the market that may necessitate a change of plan investments, as well as providing education for participants to make informed investment decisions.