The direction to Hell is Paved with higher Intentions
Certainly one of my personal favorite sayings is the fact that “the route to hell is paved with higher intentions.” In my experience, this means so good intentions might have some bad results.
A huge part of my practice continues to be helping advisors and brokers get business, through either becoming counsel or attempting to partner up and obtain clients together.
A couple of in the past, I met an agent nobody desired to place a name out for themself and that he really loved my discussions regarding plan expenses, good 3rd party managers (TPAs), and overall fiduciary responsibility issues.
This broker was prospecting an old client of mine after i was the mind attorney in a New You are able to 3rd party administration firm. I had been giving him some insight on problems that most likely is needed him have that client.
Well apparently, a number of that insight helped because he got the customer. The broker explained the client was altering plan managers, altering to some payroll provider TPA that I am not too keen on as this payroll provider utilizes this broker’s platform.
Clearly, a number of my discussions didn’t chafe too well among my issues is any broker or financial consultant getting the program sponsor change providers, so they might get compensated simpler. Whether this former client of mine results in a worse situation that where these were before expires for debate, but in some way a number of my work brought as to the I believe is definitely an unfavorable result.
Sometimes, the very best of intentions result in great outcomes and often it doesn’t.