News & Analysis as of

Retirement Plan Client Services

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.

We’re all shaped by our experiences, but we need to overcome

I’m terrible with compliments. It’s probably because as a kid, I didn’t get many and I was always wary that any comment I’d make would get a negative comment back. Somehow saying how I was getting better at Intellivision ...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.

Some people just want it when it’s free

One of my king beliefs is that giving away, anything of value for free is a mistake because people place no value on something free. That could be the tax return that a relative wanted me to prepare for a significant other,...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Stay in your lane in social media

When it comes to business, I always say that. you should stay in. your lane and that’s why. I won’t. be offering a third-party administration service anytime soon....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Be Careful Who You Hit On The Way Up

I worked at a number of places in the 11 years before I started my own law firm practice and I will vouch that I didn’t try to hurt or attack any of my co-workers. People maybe upset with some of the stances I took in one...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.

Keep politics to yourself

Someone I really respect in the industry posted on Twitter that her husband’s certified financial planner (CFP) told him that people who wear masks in this COVID pandemic as her husband was wearing a mask. The CFP just lost a...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.

Dealing with clients isn’t one size fits all

I believe that in this business, there isn’t a one size fits all. That deals with 3(38) advisors, new comparability, safe harbor, and anything where there is a choice. It also deals with how you interact with clients, no two...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.

You still need to do your job

Our world has been turned upside down by COVID. Even with me, I had to put all my live conferences on hold for 2020 and make changes when school was cancelled. We’ve all had to make sacrifices in one form or another....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.

It Might Be You

Before starting my law firm, I had made many different employer changes over the years to the point that my position as the head of my law firm is the longest time I’ve been employed in one place and that’s only 5 years....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.

There is always room to grow

Years ago, a lot of financial advisors weren’t aware of their role as a retirement plan advisor when it came to handling their plan sponsor clients. Most advisors were mailing it in, pocketing the quarterly fee without...more

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