Practice management

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.

My father has owned his own company for as long as I can remember. The name and central product have changed a few times over the years as he's sold one business or another and developed new products, but its always been in the IT field.

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.

It’s getting harder and harder to ignore the importance of Twitter in the social media world. With the news that Prince Walid bin Talal of Saudi Arabia has taken a $300 million stake in the social media site, it’s just about impossible.

As 2011 comes to a close, it’s time to plan for 2012. Many of you have already completed your planning. Some of you are in the process of doing your planning and a few of you . . . perhaps more than a few, never have nor will you do any planning. …

Before putting a bow on 2011, advisers and their clients should take the time to nail down these four key aspects of their finances to ensure financial planning success in 2012, according to M&I, a part of the BMO Financial Group.

It seems like almost a daily event … I’m meeting with a client to discuss their renewal and they say, “Why are health care costs rising faster than the rate of inflation (CPI)?” Like me, I’m sure this question takes you many places because the answer can be complicated but is it really?

According to data from ACSI LLC, P&C insurers are improving customer satisfaction, while life insurers are steady and health insurers are slightly declining.

Professional insurance agents have what insurance customers are looking for, according to research results issued by the PIA Partnership. The PIA Partnership is a group of insurance companies that works collaboratively with PIA National to conduct research and develop tools and resources designed to benefit professional independent insurance agents. PIA is a national trade association that represents member insurance agents and employees who sell and service all kinds of insurance.

In 2012, the U.S. life and annuity insurance industry will be challenged to find ways to manage both capital and risk in an economically and politically uncertain year, while continuing to lay the groundwork for future growth, according to Ernst & Young's new Global Insurance Center U.S. Outlook report.

The Independent Insurance Agents & Brokers of New York hosted more than 50 high school students participating in insurance industry classroom-to-career education program.

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.

Segmenting the market and focusing on primarily one or two customer groups has historically been a winning strategy in a number of other industry sectors. Market segmentation also can be applied to insurance, benefits, and voluntary benefits. While there are a number of ways to segment the characteristics of a potential client base, many firms successfully choose to focus on a particular employer industry sector. Such a focused approach can result in a much deeper…

Nationwide Financial launched a tool Tuesday that aims to help advisers estimate their clients’ health care expenses in retirement, which most Americans fail to plan for, the company says.

When meeting with a prospect or client are you clear about what's important to them? Steve Kloyda shares a fly fishing tale in today’s BeAdvised and describes why you not only have to select the right bait but you have to hit the bullseye.

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

Consumers, facing worries over being able to afford adequate health care, want their employers to do more to help them improve their health and get the most from their employer-provided health and wellness plans, according to a new survey.

Have you taken a chance to reflect on your adviser practice? With 2011 coming to an end, BeAdvised contributor Robert Arnoff shares four ethical questions to keep in mind for 2012.

As another open enrollment season comes to a close, millions of consumers are finalizing their benefits packages for 2012. Unfortunately, more than half of insured adults are confused with several important aspects related to choosing a health insurance plan, reveals a survey released Monday.