Transparency and timeliness beat tactics: rethinking renewal season

Many advisors get the carrier renewal in hand 90 days (or more) before the effective date, but do not immediately share it with the client. Instead, they “hold” the renewal while running their internal process: shopping, negotiating, and packaging what they will present.

The worse the renewal, the longer the hold.

Here is why that is a problem:

• Clients cannot get competing proposals without the carrier renewal letter — carriers require that document to finalize offers.
• The longer you hold it, the less time the client has to explore their options.
• What could have been a thoughtful, strategic process turns into a compressed 60 to 75 day sprint.

At that point, most clients default to the path of least resistance, renewing with minimal changes even if it is not in their best interest.

Why this is a disservice to clients (and the industry)

Holding a renewal might feel like you are managing the process; in reality, it removes the client’s ability to make a fully informed decision.

When we compress timelines:

• Clients have no breathing room for strategic discussions.
• Plan changes are reactive instead of proactive.
• Opportunities for innovative funding strategies, better vendor partnerships, and cost control are lost.

This is not just about service — it’s about fiduciary responsibility. By limiting their access to their own renewal and financial information, you are actually forcing them to breach their duties of loyalty and prudence under ERISA.

If we want to raise the bar for our profession, transparency and timeliness must come first. Doing the right thing for our clients has to come first.

Would you rather retain a client because you earned it with trust, transparency and real strategy, or because you timed them out of a proper and informed decision making process?

A better approach

Benefits advisors who put clients first do it differently:

1. Release the renewal ImmediatelyShare the carrier renewal on letterhead as soon as it is available with no delays.
2. Start strategy before renewal seasonGuide clients on multi-year cost management strategies rooted in data, not just annual rate negotiations.
3. Educate clients on the processHelp them understand why timelines matter and how early information empowers better outcomes.
4. Separate broker selection from plan selectionEncourage clients to choose their broker first, months before the plan decision, so strategy drives the process rather than the other way around.

If your client asked you today:

• How are you compensated?
• Are you incentivized to help us control costs?
• Are your recommendations unbiased?

Would you be ready to answer without hesitation?

Advisors who can say “yes” with confidence are the ones reshaping the industry and winning long-term trust.

Final Thought for advisors

If we want to stand apart from transactional competitors, we must stop the quiet practices that keep clients in a reactive cycle.

Release the renewal. Educate your clients. Start earlier.

When clients see that we have removed the artificial pressure, they realize we are not just managing a renewal. We are building a benefits strategy that works.