The next time you’re speaking with a 401(k) service provider, ask them how that fund (any of the funds) happened to make it onto their platform. Is it because that fund has superior investment performance? Is it because the platform provider or insurance company’s well-heeled cadre of analysts deemed that fund to be investment worthy?
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Read MoreThis excellent article by Darla Mercado provides background and commentary on Mr. Schlichter, founder of St. Louis based Schlichter Bogard and Denton. He is well known within the 401(k) industry for launching (and winning) a volley of lawsuits against 401(k) plan sponsors and providers, focused mostly on breach of fiduciary duty in the form of excessive fees and funds that are not in the plan participant’s best interests.
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