In my community, there was someone who lived there for 20 years and really did nothing for the community. He started a Facebook news group in the hope that it could grew and he could profit off it. He was the first one in our village to engage people with news and information about our village.
The leaders of my village who run the Schools, the Library, and the Sanitation District took notice of him and they decided to recruit his help in solidifying their hold over their community. Despite the “good” they do for the community, these unelected leaders use taxpayer dollars to hire their friends and family. So they needed all the help they get.
They took this Facebook newsgroup leader in, but the problem is that they had no idea who they were dealing with. They had no idea of this man’s narcissism, pettiness, and his inability to deal with anyone who disagreed with him. They learned a hard lesson when they divulged highly sensitive information to this man who then consistently divulged this confidential information in his manic fits of rage and temper tantrums disguised as post in his Facebook group. It eventually killed the interest in his newsgroup and then it hurt the reputation of these community leaders because of their poor judgment in working with him. While they didn’t desert him, they’ve pretty much avoided him because he’s not all together there and they’re just afraid of what he’d do if they publicly renounced him.
The point is that as a retirement plan provider, identify who you are working with and make sure they are who they say they are. Work with people with the proper credentials. From experience, I succeeded Matthew Hutcheson as a fiduciary of one multiple employer plan that he didn’t steal from. Rather than