Anchorage Firm, Wallace Insurance Group, Joins Benefit Advisors Network

CLEVELAND, OH (8/1/09) --- 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, though, Wallace Insurance Group and other Benefit Advisors Network members are unencumbered by stockholder expectations,” said BAN Director, Deane Elek. “Rather, member firms can stay focused on and responsive to the needs and expectations of their clients, with an understanding of what local employers need and want, while taking advantage of the resources that a 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, who has been in the industry for 30 years, and a member of the local chapter of NAHU and NAIFA.

“We are looking forward to getting to know all the BAN members in the coming weeks and months,” said Jeff 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 provides consulting and brokerage services to native and non-native organizations, the firm’s primary focus is providing group insurance benefits (medical, dental, disability, and life), to native organizations from all industries throughout the state of Alaska.

In addition, Wallace Insurance Group started the Foraker Group Benefit Plan for Alaskan non-profits in the fall of 2008, and has roughly 20 participants but 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® – enjoyed higher profitability and lower operating expenses than similarly sized firms.

BAN members also produce 65% higher revenues per employee than their peers, according to the survey, 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 - 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.