Selecting Retirement Plan Service Providers II

September 7, 2012 at 9:58 pm Leave a comment

As a plan  sponsor, do you consider the personal ethics of your service providers?   We all have different values.  As a result, we all see morality somewhat differently. We all respond in our own way.  Some people look the other way.  Other individuals will speak up.  Another person might pressure others.

Other than the obvious issues of not breaking the law, different organizations have different standards.  Every business has a different atmosphere.   The attitude of management and their employees can affect your service.  Documents might be backdated or fabricated.  The range of possibilities range from fraud to just unethical but not illegal behavior.  Questionable advice could just be given.  All of these possibilities could be very damaging to a retirement plan.

When it comes to ethics, accountability is crucial.   As professionals, we are always accountable first to ourselves.  We look our selves in the mirror each day.  Do you discuss with your service provider how they might handle certain situations?  Do you make an effort to get a feel for the ethics of your potential providers?

Thanks for reading and have a wonderful day!   Please be sure to sign up for my blog and follow me on twitter.

I am not selling my own or any one else’s TPA services through this blog.
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Selecting Retirement Plan Service Providers Participants Designing Their Own 401(k) Investment Portfolios

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Christine Gurney

A pension professional who shares her thoughts and ideas about the pension world for industry members and anyone else interested.

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