Exit Coach Bill Black interviews Top Advisors for Tips, Ideas & Precautions for Business Owners who want to grow and protect their company value and plan for a successful Business Sale or Transfer. Listen daily so you can be well-planned!
Episodes
Sunday Feb 23, 2020
Sunday Feb 23, 2020
A 1 minute excerpt from a recent interview with Don Trone. Hear the full interview by entering 'Don Trone' into our search index at www.ExitCoachRadio.com. We upload new content daily so check back often!
Transcript:
Don: The law defines the minimum standard of care that must be demonstrated by either a trustee or an advisor, the minimum. In other words, if you want to have a qualified retirement plan, you must meet the minimum standards of care. It's not the job of the Department of Labor to define the highest standard of care for retirement plans, it's the job of the regulator to say, at a minimum, you must meet this requirement in order to maintain the qualifications of your plan. What it's gonna take to make retirement plans more productive for employees and participants in those plans, requires a leadership and stewardship response. Doesn't require more rules and regulations, it requires the plan's sponsor to take on more leadership and stewardship responsibility for the employees that work for that company.
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