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Retirement Plan Benefit Plan Sponsors Client Services

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

If you’re consistently losing clients, you should look in the mirror

There is always that line that you’re hired to be fired. No matter how great you are as a plan provider, you will certainly get fired by a client if you haven’t already....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Tell them why you’re mad

When I was a kid or even in college, I’d stop talking to someone if I was mad with them. That was just being passive-aggressive. I’ve grown up a bit and tell people when I’m mad at them. Just did that with a friend of mine...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Don’t let failure or bad times define you

If you’ve ever read anything I’ve ever written, you probably know that I talk about the experience I had at a semi-prestigious Long Island law firm....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Just say you’re sorry

On Columbus Day, I was running an errand in my Prius V, and a woman in the right lane crossed over and hit my car. The woman immediately followed me into a parking lot. I was mad because I had damage and the car would have to...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The #1 metric has to be client satisfaction

The thing I hated most of my time at that certain Long Island law firm was that the only thing they ever seem to care about what how many hours you billed per month. I still contend that monthly billable requirement leads to...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Talk to your client

I have been an ERISA attorney for almost 23 years now and it’s gone by pretty quickly. I have worked for a few ERISA attorneys and have seen quite a few out there giving speeches around here and there....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Pick what’s good, not what’s popular

I’m not very popular, never have been and never will be. It’s probably my personality or just not wanting to go with the flow, but I’m not a popular guy. Ask my family, ask my former bosses. While I won’t win popularity...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Let them remember you for the right reasons

As you know, Congressman Jamie Raskin (D-MD) was booked for That 401(k) National Virtual Conference. As you also may know, Congressman Raskin was the Associate Dean at American University Washington College of Law when I...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Speak on a level that they understand

I have been an ERISA attorney for 22 years now and it’s gone by pretty quickly. I have worked for a few ERISA attorneys and have seen quite a few out there giving speeches around here and there....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Yes, advisors are pushing HSAs and they should

A recent study by Access Point HSA, a Rhode Island consulting group, conducted a survey over the summer that shows that advisors are getting more involved with Health Savings Accounts....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Rosenbaum Law Firm Review - November 2020 #2

Stuff That Won’t Help A Retirement Plan Sponsor Limit Their Liability - A seat belt in a car is useless if the driver or passenger isn’t wearing it. A smoke detector is useless if the batteries are dead. Vitamin C won’t...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Sorry is so easy to say

I once referred a 401(k) plan to an advisor. He did a terrible job and there were issues regarding his ability to do the work. Making a lousy referral is even worse than doing poor work of your own because at least you had...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Don’t let grudges get in the way of doing right

I always joke that I get rid of old grudges to make way for new ones. Recently, an advisor asked about a well-known third-party administrator (TPA) for a plan that I serve as a fiduciary. This TPA has a very good reputation...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Avoid the No-Win Situation

Captain Kirk didn’t believe in the no-win situation, he learned the hard way in Star Trek II: Wrath of Khan. There are certain situations as a plan provider where a client relationship puts you in a no-win situation...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Sometimes, you have to quit

When you’re young, you’re urged not to quit. Whether it’s little league or scouts, your parents would always tell you that it’s just not OK to quit on a whim....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The problem with flat fee billing

When I was a law firm associate, my most painful part was filling out my timesheet. Trying to fill it out before I’d get in trouble with the powers that be was the worst part of the month. There has to be a better way to...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

At least pretend you care

In terms of customer service, I don’t think there is anyone worse than my home school district. The Oceanside school district has a Board of Education with more members with kids on school district payroll than with members...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Retirement Plan Advisors Advantage - March 2019

A Plan Provider's Guide On How Not To Die (Sorry Lois). Get busy living or get busy dying. I started my own practice about 9 years ago because I was involuntarily liberated from my position as an associate at a...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Advisors Advantage - February 2018

A Call For A New Standard For Financial Advisors. A higher standrad for today. Over the last 10 years, there has certainly been a revolution among 401(k) financial advisors about the need and concern of good fiduciary...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Stressing Value is a better proposition than stressing cost

Retirement plan providers need to look at their fees and determine what work they are doing for their retirement plan clients because like me, they may try to break down their plan expenses into a day rate and try to figure...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Welcoming the New Client

As you know, I’ve been a member of a few Synagogues because I’m a wandering Jew and the thing I’ve noticed is the usual coldness I’d get when joining. Aside from the last synagogue I joined last year (hopefully, the last one...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Communication is key when dealing with your client

I have been an ERISA attorney for almost 19 years now and it’s gone by pretty quickly. I have worked for a few ERISA attorneys and have seen quite a few out there giving speeches around here and there....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Don’t Chisel Other Plan Providers

I sell some stuff on EBay. Basically I’m selling collectibles I no longer want for collectibles I do want (vintage graded sports cards). I set a starting bid and a buy it now price and occasionally I’ll get the EBay member...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Your Business Can Fall A Lot Quicker That It Rose

One of the business philosophies I learned while working for third party administrator is that it’s a lot easier to lose a client than to gain one. I know that first hand, seeing bad service that gets plan sponsors to fire...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Sometimes it’s about control

As a retirement plan provider, you meet a potential client and you just do so well in the meeting that you think there should be no way that you’re going to lose this prospect. Yet you get the call that a competing provider...more

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