Long term businesses in the retirement plan business don’t die overnight. It takes a very long time as we see with Sears, the goodbye takes a long time. A dying business can change course, but the problem is that there essentially has to be a change in culture to change.
The problem is that the hierarchy of a long term business in the retirement plan space is that you have the very same leadership in charge that was at the helm when the business went into a slow, death spiral. Unless the leadership decides to change course, almost nothing will be done to avoid the catastrophe.
If your business has been suffering for some time, the best option is to change course and realizer that whatever you’re doing is the same as what you’ve always been doing and that’s not helping out in trying to avoid the death of your business.