Practice and client management

Commentary: Technology is easily duplicated. Even for those who excel at it, technology is not their greatest asset. Brand, marketing and service model make a company.

Commentary: In the popular Netflix series, the main character schemes his way to the pinnacle of power in Washington. Despite his despicable character, viewers cheering him along. But why? Columnist Nelson Griswold suggests a reason that is relevant to your business practice.

The Affordable Care Act has increased the burden for benefit professionals and forced employers to alter their business practices to comply with the health care reform law, industry experts told Congress.

It’s not often a company finds itself in a market position where it has the flexibility and agility of a newcomer, along with a storied history that provides name recognition and a solid base of existing expertise. Global financial services giant AXA is in this sweet spot as it enters the U.S. employee benefit business for the first time.

Consumer expectations demand advisers establish an online presence, LIMRA research shows. Financial advisory firms are stepping up to meet the demand, and following 3 critical steps to achieve social media success.

Commentary: If you can’t articulate your marketing position clearly in two or three sentences, value-conscious prospects and clients certainly are not going to take the time to figure it out, says columnist Jack Kwicien.

Enrollment in private health care exchanges hit 6 million for the 2015 plan year, according to Accenture — doubling the 3 million figure from 2014. Most of the growth is in the mid-market segment.

Some universities that provide health insurance to their students are stopping the practice, as they say the Affordable Care Act’s minimal essential health benefits requirements have led to unsustainable cost increases. Those that remain are turning to their brokers to determine the best way to continue offering coverage to their students.

Employees of all ages want disability coverage, but rising health care costs, stagnant wages and cost-shifting keep participation rates low.

Commentary: Additional benefits or coverages that adapt to an employer’s needs can create a niche offering that often can help employers think holistically about their employees’ financial future, says The Standard’s Breanna Scott.

Commentary: The quality of writing that appears on a brokerage’s website, newsletters and even social media needs to improve to represent the industry in a more client-centric, modern and sophisticated way, says Wendy Keneipp.

NIPR says 2014 was a record year for processing transactions and inquiries, highlighting the industry’s need and desire for streamlined licensing for benefit brokers and agents.

Commentary: Our minds tell us we’re on the right track, that we’ve got a winner. Unfortunately, we don’t even know we’ve been tricked and it all results in costly and embarrassing missed opportunities, says sales expert John Graham.

As 403(b) plans look more like 401(k)s, plan sponsors are turning to advisers to help with plan design and administration.

Young benefit advisers are spearheading many of the efforts that promise to keep the benefits profession relevant in the 21st century. EBA’s 2015 Rising Stars in Advising are not just navigating the benefits industry, they’re paving its new frontier.

Commentary: Proactive case management is the first step to creating a process for disability leave management that clients can count on, says The Standard’s Sandy Johnson.

Voluntary business is a well-known tool for brokers to increase their revenue while offering new products. But many employers are hesitant to add these products because of additional administrative burdens they can require. Enter the private health care exchange, says Carlos Ferrera, COO of Solstice Benefits and the Solstice Marketplace. With an exchange, the burden is gone, he says.

The decrease in compensation is negligible since the medical loss ratio took effect, study finds, but other industry organizations disagree.

Commentary: Three reasons Individual contracts are incompatible with ERISA plans and how to handle it, according to The Principal’s Aaron Friedman.

There’s room to grow in the investment-only variable annuity space, and educated advisers are the key.