How to find a benefit advisor

How to Choose the Right Benefit Advisor

Employee benefit advisors offer a wide range of services — and a wide range of ability when it comes to delivering them. The road to choosing the right benefit advisor requires creating an roadmap, structured evaluation process that defines your overall benefit objectives and where you want to go.

Once you’ve dissected the written proposals and narrowed your list of benefit advisor candidates to two or three, invite each of the finalists to a separate face-to-face interview with your organization’s key personnel. To add consistency to this evaluation process, make sure the same individuals from your organization attend every interview.

How each benefit advisor firm answers your standardized list of questions will help to facilitate a true apples-to-apples comparison, allowing you to make an educated decision about who to engage as you move forward in designing a benefits plan.


Questions for Benefit Advisor Candidates

  1. What do you know about our individual business and how might that knowledge translate into better understanding our employee benefit needs?
  2. How would you improve upon our current employee benefit plan?
  3. What is your basic philosophy and approach to the employee benefit selection process, particularly cost containment and consumer-driven and wellness offerings?
  4. Why do you believe your firm has the best marketplace relationships, leverage and knowledge to negotiate the most favorable terms for our organization?
  5. What kind of benchmarking and accountability tools do you use, if any, to help employers analyze information and make better-informed decisions moving forward?
  6. What type of financial reports/summaries do you provide, and how often do you provide them?
  7. How do you keep up with trends in the industry, such as legislative or underwriting changes, and new or innovative
  8. How many key people at your company will work with this account? What are their areas of expertise, and how many years of experience does each of them have?
  9. Outline for us your firm’s financial stability.
  10. Do you outsource any of your functions to other brokers or firms?


Questions for Benefit Advisor References

  1. What is the size of your firm?
  2. How long have you had a relationship with this advisor?  Would you characterize your benefits broker as more of a partner or vendor?
  3. How effective has your current benefits advisory firm been in negotiating or renegotiating your employee benefit plan?
  4. What is this firm’s greatest strength? Its greatest weakness?
  5. How well do you feel they have kept themselves and you informed of changes in the employee benefit space, including product updates, regulatory changes, and industry trends?


Questions for Internal Discussion

  1. Did you find that the presentation contained good information, data, and details, or was it more fluff and
  2. Was there chemistry between the presenter(s) and your key internal team members?
  3. What was unique about this firm compared with others?


We hope you will find the above Q&A roadmap for finding the perfect benefit advisor for your group is helpful.  Please contact us for any questions you might have and we look forward to serving from you.


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The Benefit Company
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Michael Taylor
Michael Taylor
15:28 07 Feb 20
I have been working with The Benefits Company for more than 3 years and our organization has been a client for many... more. Every member of the team is very responsive and professional. The often present to our C-Suite and the C-Suite values the partnership.TBC goes above and beyond with any request that we have as it pertains to our benefits or HR programs. Every year they present us with various considerations to consider for the next year. John Hearn is has great knowledge industry. Our account manager, Stacy Cook, is very responsive and is an extension of my team.read more
19:21 05 Feb 20
I can't say enough good things about my experience. During my cancer diagnosis, the last thing you want to worry about... is how your Insurance Company is going to actually work for you. I of course, had many questions, which were always answered in "full detail". Amy Towe, our Insurance representative could not have been more helpful. She would check on things for me and always got me an answer promptly. Amy was always available when ever I had a question. She defiantly made the entire process easier. I truly can say enough about her. Her caring was so appreciated throughout my entire journey.Angela Adamsread more
Anne Lalinde
Anne Lalinde
19:09 05 Feb 20
Have worked with The Benefit Company for years through different companies. I appreciate the boutique level services... provided. The Benefit Company is a class act.read more
Marilyn Wiederhold
Marilyn Wiederhold
17:36 05 Feb 20
I have worked with The Benefit Company for over 8 years. They are the best!! Amy Towe and Christine Muro are so... helpful. they make my life so much easier!!read more
Andrea Glass
Andrea Glass
17:30 05 Feb 20
My experience working with the benefit company has been SENSATIONAL! They are truly customer driven, and go above and... beyond to deliver amazing customer service!read more
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