A quality adviser will have positive, strong relationships with insurance carriers. However, since carriers go in and out of markets constantly, employers will want to know where the recommended carriers are in this cycle. Employers may ask about extra compensation or bonuses from carriers.
Advisers must be technologically aware. It is no longer enough to know benefit plans, pricing, underwriting, features, claims or great communication methods; these have become the “givens” advisers must possess. Employers and especially HR professionals are becoming very savvy about technology, as they are being approached by a myriad of technologies, especially things like wearables, websites and apps, virtual service centers and more. A top adviser will know reliable technologies, which will help with the employee life cycle, from recruiting and onboarding – all the way through to retirement.
7) Strategic Alliances
The truly valuable benefit adviser knows what is within their own discipline. Even though there is pressure to offer tax or legal advice (think ACA), the good adviser will know when to call in a specialist. One reason is the liability exposure the adviser faces when lawsuits or excise taxes happen. It is a great service to clients when an adviser can offer recommendations for recruiters — especially executive search — as well as payroll, legal and accounting professionals and estate planners. We are asked to interpret laws, codes, regulations, and court decisions. It is always best to know the professional limits of that which we can do, and when to call in the best specialist for the issue.