Practice and client management

Shhh .... don't tell anyone, but I've infiltrated the broker/consultant world of employee benefits. After 12 years of working in corporate benefits with seven different benefit broker/consultants, big and small, I recently crossed the line into their world - I'm the director of compliance of a midsize benefits broker/consulting firm in southern California. I'm here to report back to you, my fellow corporate benefit professionals, on three things you reasonably can expect in your broker/consultant relationships - in addition to competitive fees, top-quality service and proven employee benefits negotiation expertise.

Strategic partnerships come in all shapes and sizes. They can run the range from partnering on service offerings to joint marketing programs, but sometimes they involve technology. And when they do, you want to make sure that your partner's technology is aligned with your market strategy and the technology needs of your clients today and in the future.

What is the difference between a manager and a leader? According to Warren Bennis, founder of the Leadership Institute at the University of Southern California, "Managers do things right, but leaders do the right thing." A world of difference exists between these two individuals. Which camp do you fall into? Most people have some management acumen, but a minority has the stuff it takes to be a great leader.

This month we discuss the use of article writing in your marketing and positioning yourself as an expert in your industry.

Employees do not save enough for their eventual retirement needs, research shows. But, with tools, help and education from financial advisers that paradigm may shift - benefiting not only the employee but the employer and adviser.

While many brokers are worried about the future, Mike Sullivan of Digital Insurance is excited about it and the many opportunities that will present themselves.

Employees around the country are in need of direct, simple guidance to help them reach their retirement goals, according to a survey released by State Street Global Advisors.

Can you imagine a world where the “new norm” required insurers and providers to disclose what they charge upfront? Read as Mark Gaunya, president of the Massachusetts Association of Health Underwriters, shares two specific messages he took to the Hill at the Cap Conference and the outcome.

Last year, staggering numbers revealed a massive life insurance sales gap. In a new report, called “The Elusive Life Insurance Purchaser,” Aite Group attempts to demystify the life industry’s enigmatic consumers.

Question: Amid all the changes the health insurance industry is undergoing, are there any trends in 2012 that brokers and agents can embrace to counter shrinking commissions and evaporating accounts? It’s been almost two years since the enactment of the Patient Protection and Affordable Care Act and employers are still looking for solutions to their health benefits concerns. As a result, I see two major trends defining both the economic environment and the business opportunities that…

In this rough economy consumers look to credit cards, an IRA or 401(k), even under the couch cushions for emergency cash. Many may be overlooking life insurance as a potential source of immediate funds, according to a recent survey by the National Association of Insurance Commissioners.

Okay, so it’s no secret that the individual mandate included in the Patient Protection and Affordable Care Act isn’t going to win any popularity contests — nor is most of the law, for that matter. However, Americans aren’t blowing raspberries on PPACA in its entirety, according to a recent poll conducted by the Kaiser Family Foundation. In its monthly tracking poll, the foundation asked people to reveal their most liked and disliked PPACA provisions. …

As employees take on more responsibility for paying for health care, voluntary benefits can provide much-needed additional coverage. EBN spoke to a number of voluntary benefits providers to get their thoughts on the major trends they see coming in 2012. Not surprisingly, all the trends and influences in the HR world at large - health care reform, employer cost-shifting, technology and communications - affect the voluntary benefits industry as well. Here, we provide a summary of key trends, along with charts and data to help employers plan their voluntary benefits strategy going forward.

What will the successful post-reform 21st century agency look like? EBA contributor Nelson Griswold predicts what will set you apart from the herd.

In last month's column I introduced you to the concept of expert positioning. This is when you utilize tools such as article writing, public speaking and video marketing to establish your credentials as the expert in your industry.

The failure of businesses, including brokerages and advisory firms, to plan for succession is an often known - but little talked about in public - topic that research shows can have a drastic effect on a company, especially in the current economy.

Over the course of 15 years of working on all sides of the benefits table - from HR specialist to administrator to carrier account manager - Sher Sparano observed the health care process enough to see the lack of resources that HR departments had in handling their employees' benefits.

In the current broker/client business model local relationships are clearly preferred. However, that does not take into account the new health care landscape.

A key difference between prosperous and low-performing financial advisers is how they price their business, a new report from Toronto-based wealth management research company PriceMetrix finds.

As the effects of the recent financial crisis continue to spread across the globe, financial stress is an issue for both women and men.