Falling into the Retirement Plan Industry

Growing up, most kids dream about being ballerinas or firefighters, astronauts or chefs. But what about the jobs that no kids dream about? How do those get filled? For Sevan Krikorian, owner of Retirement Plan Consultants Inc., he fell right into the retirement plan industry.

“When I got out of college, I didn’t know anything about retirement plans. The industry was just starting out. My second job, I went into an interview with human resources and they said I have two positions for you, position A and B. They said position B was something they didn’t know much about and I said okay I’ll take that one. That was getting into the 401k business.”

After being in the industry for 17 years, working for different banks and third party administrators, he was let go. He found himself at a crossroad. He had always wanted to have his own business, decide for himself how things were run and fix the issues he saw in the other places he worked. But, at that point in his life, he had three kids under the age of five to worry about. But, after talking with his wife and thinking it over, he decided to take the leap.

“My wife and I sat down, we thought about it, discussed it and with the support of each other, with savings and with family, we were able to get through the first few years”.

Starting from scratch is scary in any business, but even more in a situation where you need to find clients to actually have any type of success. But, he did have a few connections from the past 17 years that proved to be helpful and loyal.

Being that branching out and starting his own company was something he always dreamed of doing, he was excited to be able to make his own rules and do business the way he thought was best. With this freedom, he was also able to be a more active role in his children’s lives. He was able to schedule around dance recitals, soccer games, and band concerts so he could be there for his kids. The downside to owning your own business is that you never really leave work. When you own your own business, work tends to follow you out of the office. Especially when that office is at home. After dinner, he was back to work since it was his responsibility.

He has been working on this company for the past 14 years and has no plans of slowing down. “My goal is to grow the business to 500 clients, double what we have now within the next 7-10 years.”

Retirement Plan Consultants Inc are Third Party Administrators. They work with individuals who are CFP’s, CPA’s and RIA’s. They do the administrative work behind retirement plans and not the financial advisors. They work with typically small to medium businesses. He provides an extensive list of services but he mainly will prepare the client’s documents by designing a specific plan for them and administer their retirement plans. They will do compliance testing, government filings and provide support for the companies. You can find out more about Sevan and his business by visiting his website at www.rpc401k.com.