Advisor strategies

There’s not only a digital transformation of industry going on, but also an information explosion — one that can have “huge positive impacts or devastating impacts,” says technology consultant Scott Klososky.

Despite nearly 9-in-10 enrollees through California’s state-run public exchange receiving a subsidy to help pay for their insurance, almost half say it is difficult to afford the monthly premium.

Fiduciary responsibility requires the careful selection of default retirement investments. Benefit advisers can add value with knowledgeable advice on qualified default investment alternatives, including through the use of selection tools.

A bee will travel miles to pollenate an attractive flower, but it will only tell its hive about the experience if the nectar was wonderful. The same lesson applies to customer experience — and it’s one benefit advisers must keep in mind in this age of growing consumerism, said Martha Rogers, founding partner at management consulting firm Peppers & Rogers Group. …

If the DOL's proposal to impose new fiduciary responsibilities on advisers in the retirement space becomes rule, many financial professionals fearing legal liability could abandon that market altogether, and cut off services to low- and middle-income investors, according to FINRA chief Richard Ketchum.

HR technology company Namely has launched an internal benefits brokerage as part of its goal to be an end to end HR solution for growing startups. But the company wants to work with other brokers, not in competition with them.

Employers looking for good news on patient safety got a mixed bag of recent news – especially the discouraging report that nearly half of American hospitals fall short in nursing standards.

Upgrades to benefits management solution help brokers upload files faster, streamline carrier management and defend against errors and omissions claims.

A new partnership will soon give independent insurance agencies access to a program designed to help brokers change their service model and increase profitability.

Commentary: When executed efficiently, this strategy can bring a variety of benefits, says AmWINS’s Sam Fleet.

Brokers not only need to determine which clients might be subjected to the tax, but should also engage with various levels of government if they wish to have an impact on its future.

Transparency and flexibility are among the attributes brokers look for when implementing a wellness program, EBA survey shows.

There’s plenty of complexity when it comes to determining premiums, and brokers can help clients understand exactly what’s in their policy.

Commentary: Start with fellow employee benefit firms that you already know, whether friendly competitors or businesses that have synergies with your own practice, says columnist Jack Kwicien.

Commentary: Smart brokers provide awesome service, killer expertise and modern technology solutions that can compete with any online platform.

Chances are you have seen article after article claiming brokers need to buy more technology to help sell and service clients this year. Although partially true, blindly accepting these blanket statements can be costly for brokers. What I want to share with you is my experience working with these technology systems and a simple yet powerful approach you can take to make sure you don’t waste time and money on inefficient technology solutions. …

Commentary: It is a lot of fun to be able to help employers make sound decisions through benchmarking. Oftentimes, that’s the start of a prosperous relationship, says Zywave’s Dave O’Brien.

The DOL’s proposed fiduciary rule could have dire consequences for the business of benefit advisers, according to NAIFA. The association is taking its concerns straight to The White House and lawmakers in Washington, D.C.

Commentary: There’s no worse way to set your business up in the eyes of your clients than to call yourself a free service, says columnist Wendy Keneipp.

Commentary: By reframing and renaming these benefits, you can avoid any knee-jerk reaction to or bias against “voluntary benefits,” says columnist Nelson Griswold.