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Wallace Insurance Group Joins Benefits Advisors Network

CLEVELAND, OH and ANCHORAGE, AK (8/3/09) --- Benefit Advisors Network (BAN) – the premier national network of independent benefit advisory and consulting companies – has named Anchorage, Alaska’s Wallace Insurance Group as the newest member of the elite organization.

Members of BAN are selected specifically for their industry knowledge, ethics, and vision. Membership represents a prestigious validation that a firm has been recognized as the “best of the best” in its particular geographic market.

“Unlike large national firms, Wallace Insurance Group and other Benefit Advisors Network members are unencumbered by stockholder expectations,” said BAN Director, Deane Elek. “Rather, member firms are focused on and responsive to the needs and expectations of their clients.  Our members have an understanding of what local employers need and want, while taking advantage of the resources that our national network provides.”

To be credentialed for membership in BAN, Wallace Insurance Group had to successfully pass a stringent screening process. Admission to BAN designates them as the leading benefit advisory company in Alaska.

Wallace Insurance Group was founded close to 40 years ago and was recently acquired by Jeffrey Ranf. With over 25 years of industry expertise, Ranf is also a member of the local chapters of NAHU and NAIFA.

“We look forward to getting to know all the BAN members in the coming weeks and months,” said Jeffrey Ranf, Principal of Wallace Insurance Group. “We really saw membership with BAN as an opportunity to work with and learn from others in the industry, all of whom have an ethical approach to business, a deep knowledge of the industry, and are committed to providing high quality service.”

While Wallace Insurance Group specializes in providing  consulting and brokerage services to native organizations, the firm provides group brokerage and consulting  (medical, dental, disability, and life),  to non native  industries throughout the state of Alaska. 

With its significant expertise Wallace Insurance Group helped start the Foraker Group Benefit Plan for Alaskan non-profits in the fall of 2008.  It has roughly 26 participating organizations and expects to continue growing.  The program encourages personal responsibility for health care while offering coverage at a reasonable cost to non-profit organizations and their employees.

A recent benchmarking survey from Hales & Company found that BAN member companies – known as SmartPartners® – enjoy higher profitability and lower operating expenses than similarly sized firms.  

BAN members also produce 65% higher revenues per employee than their peers, in part as a result of the network’s peer-to-peer sharing of best practices, resources, and world-class services. 

About Wallace Insurance Group

For more information about Wallace Insurance Group, contact Jeff Ranf at 907-272-0114 or visit the firm’s website at http://wallacegroupservices.com.

About Benefit Advisors Network

Benefit Advisors Network is a federated association of benefits brokers who leverage their combined size to bring employers the right solutions at competitive prices. Together they represent more than 10,000 employer groups and 8.5 million employees. For more information about Benefit Advisors Network contact Director Deane Elek at (440) 528-0301 or visit the organization’s website at www.benefitadvisorsnetwork.com.

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