Be a Chef, Not a Cook, When Serving Up a Great 401k Plan
401k SpecialistOctober 08, 2020
With the help of the Food Network and Hollywood movies, top chefs have become stars in their own right, known for their uncompromisingly high standards.
Their passion for doing the job at an elite level makes reservations at their restaurants highly sought after among discerning diners. But if I go to a five-star restaurant and pay good money to eat supposedly world-class food, I expect a chef’s preparation.
The same holds true in a top-rated 401k plan. Is the plan sponsor paying “chef” fees to a broker who’s merely a cook? A great fiduciary advisor is like a passionate chef, and there to help sponsors and participants experience something great.
