While I was on LinkedIn today, I noted that I have 256 first-level connections who call themselves advisers. That’s a lot — and there are plenty more who I haven’t connected with or don’t know. What does that mean? There’s a lot of competition out there.
There are also an awful lot of qualified retirement plans and, therefore, plan sponsors — most of whom use advisers of one sort or another to assist them with some of their fiduciary duties. In some cases, those sponsors view their advisers as business partners; in other cases, they are, at best, a necessary evil.
