When a business card reads "Because someone has to take out the trash," one has to wonder about the bearer's line of work.
That catchphrase belongs to Edward A.H. "Ted" Siedle, president of Benchmark Financial Services Inc., Ocean Ridge, Fla. It bares his feeling about his work, investigating suspected abuses by consultants, money managers and brokers that could harm the financial interests of pension funds.
"I'm the garbage man," said Mr. Siedle. "I'm trying to find garbage and take it out. It's a whimsical way of saying it's a job nobody wants to do, but someone has to do it."
He said he had 1,000 of the cards made. "It's a business identity," he said. "I'm trying to identify industry practices that are harmful to pension funds and their participants: pay to play involving pension consultants, excessive money management fees, questionable brokerage, political contributions," Mr. Siedle said. "We review practices that have been poorly understood and, as understood, viewed as relatively benign.
"It's an odious task."