Question about business ethics

[Guest sschullo]

Hi,

I am a member of my employer's 457b oversight committee. I learned a few weeks ago that our former lead consultant started working for our current TPA in early June of this year. We have a new investment consultant who started working on July 1st of this year. I spoke with some of the members individually about this and it comments ranged from "nothing is wrong" to "this is unethical behavior." Last year, some members of the committee including me were very critical of this former lead consultant because we felt the consultant was looking our for the TPA by selecting funds that charged high fees than looking our for the hard working employees. Looks like our instincts were right because the lead consultant eventually started working for the TPA. What do you think? If any of you have similar scenarios, please share.

Thanks,

Steve