Group Benefits Built for Small RIA Firms and Advisory Teams
Once your practice grows past a solo desk, health benefits become a recruiting tool - not just a personal expense. Advisor Shield Health helps RIA principals with 2 to 25 advisors and support staff build competitive, affordable group benefits packages that help retain your team and qualify for meaningful tax deductions, without adding a full-time HR hire to a lean advisory practice.
Group Insurance Plans Available for Small Advisory Firms
Group Health Insurance
The cornerstone of any team benefits package. Group health insurance covers your advisors, support staff, and their families under a single policy, with the firm typically contributing 50-100% of the employee premium. Advisor Shield Health compares fully-insured, self-funded, and level-funded group health options sized for a boutique advisory firm.
Group Dental Insurance
A group dental plan is one of the most requested benefits after health insurance. Group dental plans typically offer lower premiums than individual dental plans through risk pooling, with firms contributing $15-$40/month per employee.
Group Vision Insurance
Group vision plans are one of the lowest-cost, highest-perceived-value benefits you can offer. At $5-$15/month per employee, a group vision plan adds genuine value to your compensation package at minimal cost to the firm.
Group Life Insurance
Employer-provided group life insurance - typically offered at 1x-2x an employee's annual salary - is a standard component of a competitive benefits package for a growing RIA, and premiums are modest for a younger advisory team.
Group Short-Term & Long-Term Disability
Disability insurance replaces employee income when illness or injury prevents them from working. Short-term disability covers the first 3-6 months; long-term disability takes over from there - worth considering for any advisor on your team who manages client relationships directly.
Section 125 Cafeteria Plan
A Section 125 Cafeteria Plan lets employees pay their share of health insurance premiums with pre-tax dollars, reducing their taxable income and the firm's payroll tax liability at the same time. Advisor Shield Health sets up Section 125 plans as part of your group benefits package at no additional charge.
How Much Does Group Health Insurance Cost for a Small RIA?
Costs vary based on plan level, carrier, employee ages, state regulations, and how many staff participate. Here are general benchmark ranges (firm cost per employee per month):
The Business Case for Offering Benefits at a Small Advisory Firm
Retention in a competitive field
Replacing an experienced advisor or client-service associate is costly and disruptive to client relationships. A group benefits package is one of the more durable ways a small firm can compete with larger wirehouses for talent.
Tax advantages
Employer health insurance premiums are deductible as a business expense. Employee premium contributions through a Section 125 plan reduce your payroll tax burden - the math often makes benefits a net-positive financial decision for a growing practice.
A healthier, more present team
Staff with health coverage tend to address issues earlier and take fewer unplanned days off - a meaningful consideration when your team is small enough that one person's absence is felt firm-wide.
Competitive differentiation
In a tight talent market, a comprehensive benefits package can be the deciding factor for the advisor or associate you're trying to hire. Advisor Shield Health helps small RIA firms offer packages that compete with much larger shops.
How Does the Setup Process Work for a Small RIA?
- Consultation - Your dedicated Advisor Shield Health business specialist gathers information about your team, budget, and goals.
- Proposal - We present a custom comparison of 3-5 group plan options across multiple carriers, with detailed cost breakdowns.
- Team Enrollment - We handle enrollment communication, paperwork, and onboarding for your advisors and staff at no cost to your firm.
- Ongoing Administration - Advisor Shield Health provides year-round support for questions, plan changes, life events, and annual renewals.
Ready to see your options?
Answer a few quick questions and a licensed advisor will email your personalized plan options within one business hour. 100% free, no obligation.