X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The roles of broker and consultant are not mutually exclusive. One may possess and exercise both skill sets simultaneously. Like personality traits, one is more likely preferred over the other as a matter of business choice driven by market needs. Small group brokers may have the skills to consult, but the need may rarely be presented in the natural course of business in this market segment. Consultants may have the skills to broker insurance policies on behalf of their clients, but may prefer to deal in high level change consulting. The question of deductible and premium interaction may not be as fulfilling as designing or revising a wellness incentive program. Thus, the consultant may be a broker, and the broker a consultant. It just depends on the need of the client. In practice I have found, though, that it mostly works the second way and rarely the first.

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.