News & Analysis as of

Third-Party Service Provider Benefit Plan Sponsors Retirement Plan Providers

Holland & Hart - The Benefits Dial

Some Beach … Fiduciary Considerations As Recordkeeper Sued For Misusing 401(k) Participant Data

A proposed class action lawsuit filed against Empower last month highlights the importance for 401(k) plan fiduciaries to carefully negotiate their services agreements with recordkeepers and other services providers. The...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Yesterday’s plan participants in today’s world

When I first started in the 401(k) business, investment selection by participants was still being predominantly done by paper and phone. The first websites I encountered dealing with 401(k) plans gave the participant their...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Advisors Advantage - November 2017

The Bottom Line For Retirement Plan Providers. More plan assets for your clients is a good thing for many reasons. When I had the idea of starting a National ERISA practice 10 years ago, I knew I would have a tough time...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Big Fish and Service Provider Lawsuits

It seems like every week, there is another major lawsuit against a plan sponsor and one of their service providers. Allegations of impropriety are just allegations until decided by a trier of fact of whether they are...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Advisors Advantage - July 2016

How Retirement Plan Providers Can Deal With The Fiduciary Rule Change. Adapt to this change. At its prime, Blockbuster Video had 9,000 stores and was actually bought by Viacom in 1994 for $8.4 billion. Then some...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

You’re Always Going Against The Tide

I always get the call from my third party administrator (TPA) and financial advisory clients concerning the same topic. The topic is how it’s still difficult to get across with potential plan sponsor clients on the urgency to...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Advisors Advantage - June 2016

How to Communicate and Understand Retirement Plan Sponsors. There is a method to it. Being a retirement plan provider isn't just about selling services, it's really about selling yourself and you can't sell yourself...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

You Might Be Gold, But They May Not See It

Aside from my children and my wife, my favorite person of all-time was my grandmother Rose. She was the most selfless person I ever met, who was full of life, and love for family. When my grandmother decided she would move...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Too often, they get it when it’s too late

I talk to a lot of advisors and I have many advisor clients around the country and one of the things that I keep on hearing is that even with fee disclosure regulations almost 4 years later, it is still difficult to get...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Advisors Advantage - May 2016

The Struggles Of Being A Retirement Plan Provider And How To Manage It. What you have to deal with. Any good retirement plan financial advisor will tell you that relationships in the retirement plan business mean...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Advisors Advantage - April 2016

The Struggles Of Being A Retirement Plan Provider And How To Manage It. What you have to deal with. Being a retirement plan provider is like any other business in the sense that it has to be managed in a way...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Rosenbaum Law Firm Review - March 2016

Things About Plan Providers That Shouldn't Impress Plan Sponsors. Don't get bamboozled. There are certain things in life we really should be impressed by, but we always end up being impressed by the wrong...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

They will always try to sell Plan Sponsors something

When I was a kid, there were two varieties of Cheerios, one version of Listerine, and one type of Crest toothpaste. If you got to the supermarket these days, there are about a dozen varieties of Cheerios, more than a half...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Beer and the Payroll Provider TPA

I’m a beer snob and I’m proud of it. I like the taste of beer and I’m not going to waste my time, money, and calories on a mass-produced inferior product like Budweiser, Bud Light, Coors, and Miller. I would rather drink...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Advisors Advantage - March 2016

What A Retirement Plan Financial Advisor Needs And Where To Get It. Stuff you need and where you can find it. A checklist is an informational aid that is used to reduce failure by compensating for the lack of...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Experience can mean a lot of things

I always talk about how plan sponsors need to work with experienced financial advisors, third party administration (TPA) firms, and ERISA attorneys on their plan needs. Like with reasonable fees, I believe that the term...more

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