Advisors may be undeniably correct in their advice, but does good advice matter if it falls on deaf (or bored, or confused) ears? (Photo: Shutterstock)
If last week's column was about advisers listening to themselves, this week's column is about plan sponsors listening to advisers.
But with a twist.
It's clear retirement plan advisers who live and breathe all things 401(k) know the score when it comes to what a plan needs. It's also pretty clear plan sponsors don't. Not because they don't want to, but because they're too busy. If they're smart, they'll listen to what the professional advises (see “Must Read for the Summer: Top Fiduciary Questions 401k Plan Sponsors Must Ask (But Sometimes Don't),” FiduciaryNews.com, June 19, 2018).
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Christopher Carosa
Chris Carosa has been writing a weekly article and monthly column for BenefitsPRO online and BenefitsPRO Magazine since 2011 and is a nationally recognized award-winning writer, researcher and speaker. He’s written seven books, including From Cradle to Retire: The Child IRA; Hey! What’s My Number? – How to Increase the Odds You Will Retire in Comfort; A Pizza The Action: Everything I Ever Learned About Business I Learned By Working in a Pizza Stand at the Erie County Fair; and the widely acclaimed 401(k) Fiduciary Solutions. Carosa is also Chief Contributing Editor of the authoritative trade journal FiduciaryNews.com and publisher of the Mendon-Honeoye Falls-Lima Sentinel, a weekly community newspaper he founded in 1989. Currently serving as President of the National Society of Newspaper Columnists and with more than 1,000 articles published in various publications, he appears regularly in the national media. A “parallel” entrepreneur, he actively runs a handful of businesses, including a small boutique investment adviser, providing hands-on experience for his writing. A trained astrophysicist, he also holds an MBA and has been designated a Certified Trust and Financial Advisor. Share your thoughts and story ideas with him through Facebook (https://www.facebook.com/christophercarosa/)and Twitter (https://twitter.com/ChrisCarosa).
