Last month, Jennifer Berman and I explored the revenue-alignment concept, detailing how auditing the adviser business model is the prerequisite for moving into the fiduciary era. While aligning incentives is a legal prerequisite, the immediate priority for most executives is the mitigation of change-management risk.
Most employers remain paralyzed by the fear that upgrading their advisory partnership requires a simultaneous and disruptive overhaul of their insurance carriers and networks. For the professional adviser, the challenge involves de-risking the transition by explaining why this fear is based on a fundamental misunderstanding of the healthcare supply chain.
