Practice management

STEVE JOBS ASKED US TO “THINK DIFFERENT” Over the last few months I have spoken to over 100 groups of brokers, consultants and employers across the country about the results of two critical pieces of recent research that MetLife has conducted with employees, employers and brokers that demonstrate the need to think differently about the future. Especially true for professionals in the “trusted advisor” business faced with distinct revenue challenges in the near future will be…

As the Thanksgiving holiday rapidly approaches, perhaps we could take a moment out of our day to reflect on gratitude. This means appreciating the clients that we already have. Further, we should respect those who are being appropriately serviced by another adviser enough to abstain from unethical means to obtain their business for ourselves. Perhaps it seems that these clients are there for the taking, but if we ignore the ethical considerations, we have failed not…

Budget woes are hitting public sector employers hard — and the effects are going to be felt in their employee benefits programs. That's according to a new survey conducted by Colonial Life & Accident Insurance Company with members of the International Public Management Association for Human Resources last month.

Mercer recently surveyed employers about their responses to health reform provisions that were effective in 2011 and their attitudes toward requirements that won’t kick in until 2014 or later. The area that provided the most intriguing results involved eligibility. A year ago, when asked what actions they were likely to take in 2014 when benefits must be made available to employees working 30 or more hours per week, employers seemed more inclined to bite the…

As I discuss market trends with my peers around the country, PEO’s are a consistent topic of discussion. It’s one of those issues where everyone seems to have an opinion about their potential relevance and impact on the benefits adviser community. I realize that it depends on your locale and whether any PEO’s are willing to partner and distribute their services through an adviser network. Clearly some organizations are exclusionary and represent direct competition to…

The business process has always been interesting to me. What do we do and how do we do it? We all seem to follow a similar process with varying results. The typical new business progression is as follows: We obtain a potential prospect . . . referral, direct mail, telemarketer or someone we meet on a plane, etc. We attempt to arrange an initial meeting If successful, we tell our story. What is our differentiator? What are their…

Even the most able of insurance CIOs may find themselves hard pressed to keep their footing on a rapidly evolving technological playing field. Yet, even if they do, they may find the rules of the game are changing too.

Are you overlooking or denying these three valuable lessons? If so, you are destined to repeat them. Read how you can learn and adapt to become more successful in the industry.

Independent and insurance brokers/dealers are the strongest sales channels for variable annuities, according to The Insured Retirement Institute’s “2011 Portfolio Construction Dynamics” report. But, generating income throughout these broker/dealers’ clients’ retirement doesn’t come without challenges. The report from IRI — in partnership with Cerulli Associates — explores these challenges and offers insight on how to grow adviser acceptance of variable annuities as a retirement income solution.

A top Labor Department official defended the controversial plan to expand the definition of "fiduciary" to cover people providing advice to retirement plans on a commission-based model, a proposal strongly opposed by industry groups representing independent broker-dealers and advisers.

In the midst of a gaping hole in life insurance coverage, Mintel Comperemedia, a research and consulting agency that specializes in direct marketing, released statistics regarding the life insurance sector’s marketing targets and finds that carriers are drifting further and further away from the bull’s-eye.

According to recent studies employee and employer perspectives on voluntary benefits vary greatly. Read in today's BeAdvised about one possible explanation for the discrepancy.

Weight management is a popular wellness trend as the country deals with the health implications of obesity in our society. Similarly, benefits communications have become more and more bloated. Brokers need to help their clients communicate their benefits suite properly.

Well, here we are at the beginning of the fourth quarter. On the one hand, it hardly seems possible that this year is almost over. On the other, many in our industry have found the beginning of this decade to be very challenging and would prefer to not relive the industry-altering events of the recent past. And when you add in the year of debate that preceded the passage of the health care reform bill, it's really been about two and a half years of difficult and disruptive dialogue and change.

I couldn't believe my eyes. I stood a mere three feet away from the mentalist Alain Nu, who lightly pinched the handle of the heavy, solid spoon between his thumb and fingertip. As I watched in amazement, the curved handle of the spoon . . . slowly began to . . . bend! . . . and it continued to bend . . . without Nu touching it.

Most group business renews on January 1. So you are going through the craziness of putting your 12/1s and 1/1s to bed. Carriers are late with numbers. Groups are asking you to take their plans to market. You are playing defense as sharks circle your groups more this time of year. Welcome to the busiest time of year for most brokers and consultants.

Over the years of working with benefits professionals, I have seen three common mistakes that are costing them business and raving fan referrals. More importantly, these three mistakes also are costing them money through staff and infrastructure expenses.

The meaning of success is different for each of us. Whether we are talking about business or personal achievement, we define success by what matters most to us. Is it any wonder that your clients have different ideas about what spells success for a corporate wellness program?

Most advisers know the basics of FMLA. The Family and Medical Leave Act is the federal law that requires employers to provide employees with a job-protected, unpaid leave of absence from work for a variety of family reasons, including military leave or their own medical-related needs. FMLA strictly regulates the process that employers must follow to comply with the law.

One of the most famous Yogi Berra-isms is: "When you come to a fork in the road, take it."