Common mistakes. Non-believing 401k plan sponsors. How many of these have you seen? What have you done to address the dilemma of what to do when the client isnât always right?
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But this rookie mistake doesnât bypass veteran plan sponsors. If theyâve grown too complacent with their plan, they may wake up one day to find out theyâve got a dinosaur on their hands.
As with many things, hands-on instruction is generally the best way to achieve this, especially if you make it into an engaging workshop thatâs all about the employee and the employeeâs dreams, not about the plan.
If plan sponsors assume things can return to the pre-Covid normal, they risk exasperating existing problems. Theyâre there and cannot be ignored.
Itâs fun to talk about âriskâ and âreturnâ because these are measurables and people are comfortable with the tangible world. But none of that touches upon what really matters. Worse, it can distract you from achieving what you want most.
The Biggest 401k Fiduciary Fireworks, Fizzles, And Flops In 2021
Flops may not be forever. They may just be good ideas before their time. If youâre going to belittle them, you best hurry, because, if you wait too long, you may just discover they arenât flops anymore. As a result, letâs not waste any time before the shelf-life of these flops expire.