401K Plan Question

[ratae1950]

I work with a small corporation and found out today that the company owner that 'oversees' our 401K plan uses the plan provider rep' as his personal financial advisor. Needless to say a few people here are not crazy about our plan and uneasy about the above mentioned relationship.
Any of you wise folk have thoughts on this?
Thanks

[redshirt1957]

Is yours a simplified 401(k) plan? Yes, this practice is normal. You still direct your investing choices and I hope they match. Truth is that companies don't even have to offer this, so if you are uncomfortable, can you go the Roth route? I have not been in the CFP business for a long time and I have forgotten most of the rules. Another thought, do you not trust your employer in general?

[ratae1950]

Originally Posted by redshirt1957

Is yours a simplified 401(k) plan? Yes, this practice is normal. You still direct your investing choices and I hope they match. Truth is that companies don't even have to offer this, so if you are uncomfortable, can you go the Roth route? I have not been in the CFP business for a long time and I have forgotten most of the rules. Another thought, do you not trust your employer in general?

Is that female intuition at work my friend!
In short----not really.

[redshirt1957]

Originally Posted by ratae1950

Is that female intuition at work my friend!
In short----not really.

Maybe a MMA is the best way to go, but hell, they can go below $1.00 per share. You know best what to do my friend and you are very smart so no worries. Does the name BigBird ring a bell?