Some decisions on who to call or get advice from are easy, while others can take some time to figure out.
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Some decisions on who to call or get advice from are easy, while others can take some time to figure out.
Read MoreTags: pharmacy 401k, community pharmacy owner, retirement plans, community pharmacy retirement program
Welcome to Fiduciary 101 for community pharmacy owners. This series of blogs will focus on the fiduciary responsibility you assume by sponsoring a pharmacy 401k and/or profit sharing plan. The goal of this series is to fully explain what it means to be a fiduciary and to bring to your attention the things that must be completed to satisfy this responsibility. Part 1 will help give you a broad overview of what it means to be a fiduciary. The subsequent parts will drill down into specific areas of fiduciary responsibility. So, let's get started with the broad overview of fiduciary responsibility.
Read MoreTags: pharmacy 401k, community pharmacy owner, pharmacy retirement plan
We just spent the better part of a week in Orlando, Florida discussing ideas to grow community pharmacies in the future. One of the most important things that we discovered is that pharmacy owners are not completely aware of everything about the pharmacy. This is from their perspective, the perspective of their employees and the perspective of their patients. We are not going to get into all the details of this but we do want to bring up one place where there is an extreme lack of awareness.
Tags: pharmacy 401k, community pharmacy, community pharmacy owner