Ep #25: Talking About TPAs (And More) with Ary Rosenbaum

11/1/2021 - 71 minutes

Episode Summary

My guest today is Ary Rosenbaum is an ERISA/retirement plan attorney for his firm, The Rosenbaum Law Firm P.C., where he helps plan sponsors reduce their plan cost, facilitate administration, and limit their fiduciary liability.

Today Ary joins the show to discuss how M&A is impacting the industry in general (including TPA firms), what advisors should look for in TPA partners, and how to be a better partner yourself. He also shares sound advice for starting a firm on your own and how to get referrals.Listen in as we talk about the importance of sticking with what you know as a service provider, as well as how accepting responsibility is one of the most important things service providers can do for their client relationships. You will learn why plan sponsors need to read their contracts when hiring service providers, why Ary decided to launch That 401(k) Conference, and more.

What You'll Learn

• How Ary became an ERISA attorney and began working in the TPA space.
• The biggest challenge he faced while starting his own firm.
• The importance of being kind and doing favors for people.
• How to have meaningful and honest conversations.
• Why communication is essential to success.
• Why taking responsibility for your actions is key.
• How to choose your service providers.
• What advisors should look for in TPA partners.
• How advisors can be better business partners to TPAs.

Links to Resources

• Ary Rosenbaum: Website | LinkedIn | Twitter
• That 401(k) Conference

Ideas Worth Sharing

1. “People remember you when you do favors for people, and people remember you when you’re not so nice… Do favors for people.” - Ary Rosenbaum
2. “Communication is key. All of the relationships that have failed in my life, it’s because of communication.” - Ary Rosenbaum
3. “Never condition your apologies if you’re going to apologize. Just don’t apologize at all if you’re going to do that.” - Ary Rosenbaum