This week’s episode is a conversation with Sean Schantzen, Co-Founder and President at Health Rosetta Group. Today, Sean shares his insights on what top advisors are doing to bring innovation, control, cost savings, and better user experiences to their clients.
Sean explains that transparency is central to reestablishing a relationship of trust between advisors and employers. He also discusses the Mr. Potato Head problem and how architecting new plans from the ground up is the only solution to give stakeholders what they really want.
What You’ll Learn From This Episode:
- 02:18 Examining the role of advisors today
- 07:37 Advisors are experimenting to create higher-value offerings
- 09:56 Changing the compensation model with transparency and trust
- 14:54 Architecting new plans and solving the Mr. Potato Head problem
- 19:03 How firms and individual advisors can usher in changes
07:37 “These business models that are moving away from the traditional staffing plan as an advisor into new models that maybe are more member-centric. They may be more analytic-centric. They may be more contracting and legal-centric.”
08:27 “They’ve gained experience that’s necessary to understand how they then pull all these things together to create a much more highly differentiated and high-value offering.”
11:37 “Being transparent in compensation, top to bottom, if anything overly transparent, kind of sets the stake in the ground to reestablish a relationship on more trust.”
16:39 “They’re solving the Mr. Potato Head problem. This is contracting. It’s vendor selection issues. It’s cross-vendor collaboration. It’s how your underwriter’s going to give credits and react to this.”
20:34 “It’s less about the size of the firm that the advisor is at and more about the commitment of the advisor and their team to building what they want to build and the willingness of their clients to go along with them.”