An insurance agent and previous Serious 65 FINRA Securities Advisor and Investment Advisor Representative for RedHawk Wealth Advisors Registered Investment Advisory. Donovan came into the Employee Benefits Marketplace after having a Wealth Advisory client ask for help with his Employee’s Health Insurance renewal.
“The client had 60 employees and was being represented by a Large top 10 National Employee Benefits Brokerage. The business owner explained to me that they had just been given a 30% renewal and told there was better options. At the time, knowing almost nothing I committed to taking on the case.
Well it worked and we came 12% under their pre-renewal price or 42% under their “only option” renewal. While learning about the Employee Benefits market through that first case I discovered Insurance markets move fast-and can be just as complicated as securities. In addition, there was a complete lack of transparency and understanding to both the employees and employer. “
Health Insurance is the largest expense for a family next to their mortgage and it’s typically the second largest expense for businesses. The lack of communication, understanding and sound financial planning in benefits created the change of J Donovan Financial from Wealth Planning to Insurance planning in the Employee Benefits market.