PROspectives

Tref Farmer, Shareholder The founders of Farmer and Betts met while in college and created a thriving business in the three states that they live and work in; Washington, Oregon, and Colorado. Now, through a national sales force, their business is growing from...

Last Thursday at ABC TPA firm… Owner: “We’ve brought on 60 new plans so far this year. We are going to have to hire a new administrator and redistribute the caseloads. The number of plans per administrator is getting really large.”HR Specialist: “Got it. So, what is...

Jill Williams, QPA, QKA Most TPAs operate as a practice; groups of administrators have their clients and they service them the way that they always have. Over the last 10 years, competition and fee compression has signaled a change in the industry. With TPA Division...

No longer the sole responsibility of the IT Department, cyber security is now part of the lexicon of every company in every industry.   The most advanced systems and processes can be thwarted by an employee clicking on what they thought was a harmless meeting...

Paul Perry Paul Perry is a man on a mission. As the leader of Warren Averett’s Risk and Controls division, he is involved in assessing, preventing, and remediating their clients’ cyber security challenges. Perry has spent significant time with small and large TPA...

If you are a seasoned TPA, this month’s PensionPro will certainly elicit some nostalgia.   ABG Retirement Plan Services is a dynamic firm that has been in business for fifty years! Just think about that for a minute. For an industry that typically equates its...

With over three hundred TPA and actuarial firms on PensionPro, we are fortunate to have the opportunity to work through operational issues with our clients.   Surprisingly, it appears business owners and managers today are facing similar operational challenges...

Michelle Meyer and Jim Heinzer Systematic and extraordinarily rapid growth is typically associated with success – new revenue, greater profits, and more clients. However, Benefit Plans Plus (BPP) knows all too well that there is a business risk element to rapid...

Written in collaboration with Jill Dennis, Partner, Dunbar, Bender & Zapf Ask any business owner to choose what’s more important; existing client retention or new sales, and you’ll find the answer is both. Sales and retention are equally important. Of course,...

Elliot and Aaron Cohen Client retention is the key to maintaining long-term profitability; it’s a cost-effective practice any TPA firm can use to improve their bottom-line. When retention is high, the firm can focus on enhancing current services, instead of spending...

At a recent conference, I heard TPA firm owners and managers lamenting the fact that, though they were adding plans at their normal rate, they were terminating/losing the same number or more.   Their concern was that, overall, the number of retirement plans was...

Rich Searle, ERPA Winning business requires two things: good leads and follow up. Though the principal is basic, it can be easier said than done. Many TPAs struggle with the sales process. Referral-based services require even more sales communication than other types...