Brokers need to morph their business model to consultative

Published Updated 9 Min Read

Thanks to the Patient Protection and Affordable Care Act, we all will be living with uncertainty for the foreseeable future. There are thousands of pages of administrative guidelines that have yet to be written. And those PPACA timelines are completely in flux. For example, 25 states have decided to default to an exchange created by the federal government, but of course there’s no way it will be functional in less than a year. And there are those thorny decisions about “pay or play” that need to be addressed.

The point is, you need a process for managing change. Likewise, you will need a process for managing change for your own business, since you will need to morph it to be responsive to the changing market conditions. You will also need a process for managing change to advise your clients and to continue to make your practice relevant.

Jack Kwicien
Managing partner

Jack Kwicien, an Employee Benefit Adviser columnist, is co-founder of Daymark Advisors, a Baltimore-based consulting and advisory firm. He is also the co-developer of the SMART Benefits Strategic … Read full bio


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