There are times when it comes to a business relationship that 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 than your current provider. When it comes to the financial advisor working on a retirement plan, there are certain instances where as a plan sponsor it would be wise for you to retire your retirement plan advisor because an advisor who no longer fits the needs of the plan increases your potential liability as a fiduciary. It’s very tough to say goodbye, but it beats putting the plan and your company at risk to continue that relationship.
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