ready for an unbroken broker?

"I was on the frontlines of 401(k)s move away from closed architecture and fiduciary conflicts. When I started my benefits career, businesses chose from 3-4 major 401(k) houses ...who only offered their funds. Now there are over 20 major administrators, hundreds of fund companies, and here’s the power of open architecture: fees are over 50% lower.


Health Insurance went in the opposite direction. In the 1990s there were over 20 health insurance carriers nationally and now there are four. Today, most Americans are insured by a closed architecture carrier at costs that are multiples higher than they were just ten years ago.


Today, I apply open architecture's choice and savings to improve the healthcare outcomes of my clients."

We work with small businesses to design and manage benefit programs, ERISA-qualified pension, and defined contribution plans. 


Truth is, our region's large market benefit brokers aren't good, they're great. If you call us about a 2,000 lives group we'd be happy to make an introduction.

But there are only a handful of quality brokers focused on individuals and smaller businesses. Most become overly cordial with the insurance carriers they are supposed to vet as your fiduciary. This creates a potentially conflicted transaction, which is prohibited under these ERISA-covered plans.

About Mike

The agency is led by Michael Case Smith. Mike has spent his career challenging conflicts of interest on Wall Street and is now focused on similar issues in healthcare. Armed with extensive experience and resources on the intricacies of healthcare and pension finance, Mike helps businesses control the two things that impact their wealth the most: insurance costs and taxes.

Mike began his career in the London and Los Angeles offices of TCW, a global pension advisor. In 1998 he joined Nobel Laureate Harry Markowitz and TCW colleagues in a series of ventures based on their patented financial technologies. In 2008, Smith and colleagues purchased a New York investment firm. After a fivefold growth in assets, the company was sold, and Smith moved to Florida with his growing family.


Smith is a graduate of UCLA, The University of Notre Dame, and studied at the London School of Economics.

2020 by The Benefits Department

208 North Laura Street #600, Jacksonville, FL 32202