Benefit Advisors Network (BAN)

What Benefit Advisors Network (BAN) does

Benefit Advisors Network (BAN) is a private, Cleveland, Ohio-based consortium founded in 2002 that serves as a national network of approximately 35 independent employee benefits brokerage and consulting agencies operating across 20+ U.S. states, Canada, Puerto Rico, the United Kingdom, Asia, and Guam. Member agencies collectively employ 500+ benefits professionals serving tens of thousands of employer clients covering roughly 2 million employees, and they manage in excess of $2 billion in medical and drug spend plus $125 million in ancillary benefits spend. BAN's core platform is MyBAN, a member intranet portal that delivers compliance alerts, benchmarking tools, educational content, and community collaboration features to member agencies.

BAN monetizes primarily through recurring membership fees paid by member agencies, with additional revenue from conferences, educational programs (Group Schools, webinars), and a Partnership program that gives third-party vendors access to the member network. The organization offers eight functional departments that member agencies can leverage: Actuarial & Reinsurance, Captives, Compliance & Legal, Data Analytics & Benchmarking, HR Administration & Technology, Human Capital Management, Marketing & Communications, and Pharmacy & Rx. New member agencies are admitted through an interview-based vetting process, and BAN convenes the network through twice-yearly conferences plus regular webinars covering compliance, HR strategy, pharmacy benefits, and HR technology topics.

The company operates with a lean core staff of approximately 5 full-time employees led by President & CEO Perry Braun, who purchased BAN and its sister organization National Benefit Center from Alera Group on April 1, 2023, restoring it as an independent entity. Strategic partnerships include HCM Unlocked (2025), Allied Advisors (2018), and the legacy Alera Group relationship (2016). BAN's go-to-market is community-led and sales-led: it recruits member agencies through direct outreach and membership inquiries while fostering peer-to-peer knowledge sharing and benchmarking across the network.

Name

Benefit Advisors Network (BAN)

Legal name

Benefit Advisors Network

Website

https://benefitadvisorsnetwork.com

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

1–10 employees

Short description

Benefit Advisors Network (BAN) is a Cleveland-based consortium of approximately 35 independent employee benefits brokerages serving tens of thousands of employers covering 2 million employees, providing members with shared resources, compliance expertise, benchmarking tools, and educational programs through recurring membership fees.

Ownership category

akta.pro rank

Product category

Employee Benefits Brokerage Network

NAICS

Professional Organizations (81392)

SIC

Services-Membership Organizations (8600)

akta.pro primary industry

Labor, Employment Standards & Occupational Licensing Boards (BPAIAOAF)

akta.pro secondary industry

Legal & Compliance Direct Hire (BPACAFAJ)

Keywords

• Employee benefits brokerage
• Benefits advisory network
• Human capital management
• Employee benefits consulting
• Benefits broker consortium

Headquarters

HQ city

Solon

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Membership Fees: BAN generates revenue through membership fees from its network of independent employee benefit brokerage firms. Member agencies pay for access to the network's resources, tools, peer insights, professional development, benchmarking tools, and nationwide network of advisors.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

BAN operates as a consortium membership network of independent employee benefits advisory and consulting agencies, providing member agencies with peer collaboration, benchmarking tools, compliance and legal expertise, actuarial services, pharmacy benefit management, HR/HCM technology, and educational programming. Member agencies in turn deliver employee benefits brokerage and consulting services to employers and business owners across North America and internationally.

Product overview

Benefit Advisors Network (BAN) operates as a consortium/platform of independent employee benefits advisory and consulting agencies, offering a unified network model supported by shared expertise, market influence, and collective resources. The core platform is MyBAN, a central member hub that connects all services. Around this platform, BAN provides specialized departments including Actuarial & Reinsurance, Captives, Compliance & Legal, Data Analytics & Benchmarking, HR Administration & Technology, Human Capital Management, Marketing & Communications, and Pharmacy & Rx. Educational offerings (Conferences, Group Schools, Webinars) and membership/partnership programs round out the portfolio, enabling member agencies to deliver comprehensive employee benefit solutions to their clients.

Differentiator

Problem solved

Functional benefit

Products and services

• BAN Membership A consortium membership program for independent employee benefits advisory and consulting agencies, providing access to peer insights, benchmarking tools, professional development, and a nationwide network of advisors.
• MyBAN The central member portal and intranet hub for BAN members, providing access to resources, educational content, compliance alerts, benchmarking tools, and a community platform for collaboration and knowledge sharing.
• BAN Partnership A business partnership program enabling companies to offer services to employee benefit agencies, providing advanced tools, resources, and a wide array of services to deliver value to BAN members.
• BAN Conferences Bi-annual conferences held throughout North America that bring together members, directors, and partners to learn about industry trends, AI, pharmacy, HR technology, compliance, and to network with peers.
• BAN Group Schools Premier learning experiences for employee benefits professionals offering small group instruction on various employee benefits topics with expert-led training and networking opportunities.
• BAN Webinars Educational webinars open to employers, HR specialists, and industry participants, led by BAN subject matter experts covering compliance, HR/HCM strategies, and technology topics.
• Actuarial & Reinsurance Provides actuarial analysis and reinsurance solutions to help business owners prepare for and understand risks and their forecasted impact, with services that can be marketed by BAN members.
• Captives Analyzes employer risk and designs, implements, and manages alternative market insurance solutions including customized insurance, active captive management, and reinsurance policies to minimize costs and improve cash flow.
• Compliance & Legal Provides HR compliance counsel and legal guidance on healthcare legislation including ACA, ERISA, COBRA, HIPAA, and the Internal Revenue Code, with access to ERISA lawyers across the country.
• Data Analytics & Benchmarking Combines clinical, financial, and predictive analyses with data management services to help employers define medical and pharmacy cost drivers, identify high-risk populations, and recognize trends.
• HR Administration & Technology Helps utilize technology to restructure employee data and workflow processes, increase productivity and retention, remain current on compliance, and automate administrative processes.
• Human Capital Management Implements HCM methods to help employers develop high-performing teams while avoiding costs associated with fines, penalties, and lawsuits through talent attraction and retention strategies.
• Marketing & Communications Designs, develops, and executes communications programs and creates marketing materials to help educate employees about healthcare options and support organizational communication strategies.
• Pharmacy & Rx Provides prescription plan expense management through analytical reporting and clinical consulting, including PBM agreement negotiation and cost savings recommendations.

Quantifiable outcome

• Over $2 billion in medical and drug spend managed through member agencies
• +2 more outcomes

Named customers7 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and minor.

• HCM UnlockedcoreStrategic or Co-development Partner · 25 March 2025Partnership to provide comprehensive HCM (Human Capital Management) support to BAN members. This partnership helps member agencies offer comprehensive HCM solutions to their employer clients.
• Allied AdvisorsminorStrategic or Co-development Partner · 1 January 2018Partnership formed in 2018 to help mentor and support start-ups and employee benefits firms in their early stages. As of June 2018, two firms in their initial stages of business were signed up to participate.
• Alera GroupcoreStrategic or Co-development Partner · 1 December 2016Alera Group was formed in December 2016 as a privately held employee benefits firm and multi-line insurance agency. 23 of 73 BAN Member Agencies signed on to participate in the partnership. On April 1st, 2023, Perry purchased BAN and the National Benefit Center from Alera Group so it could spin off as its own independent network of advisors.
• National Benefit CentercoreStrategic or Co-development Partner · 1 January 2009Sister organization created in 2009 to focus on product development and work alongside BAN in leveraging the knowledge and resources in the industry. National Benefit Center officially launched in April 2011 with 13 Member Agencies and paid its first distribution within two years.

Scale indicators7 records

Recent moves11 records

Expansion highlights4 records

Direct peers

• Alera Group: PE-backed aggregator of independent employee benefits and insurance agencies. Was previously the parent of BAN until Perry Braun's 2023 spinoff purchase; directly comparable network model serving the same employer and broker ecosystem.
• OneDigital: PE-backed national employee benefits and HR consulting firm built through acquisition of independent agencies. Operates a similar consortium-style network of advisors serving mid-market employers with comparable benefits, HR, and compliance offerings.
• World Insurance Associates: PE-backed insurance brokerage built through rapid acquisition of independent agencies. Operates a comparable aggregator/network model with overlapping employee benefits and HR consulting capabilities serving mid-market employers.
• BenefitMall: Employee benefits broker general agency and platform serving small and mid-market employers and benefits brokers. Operates a complementary distribution and technology platform supporting benefits brokers with enrollment, compliance, and carrier connectivity.

Broad incumbents

• USI Insurance Services: Large national insurance brokerage and consulting firm with a substantial employee benefits practice serving mid-market and enterprise employers. Competes with BAN member agencies for employer clients and offers similar benefits, risk management, and HR consulting services.
• NFP (an Aon company): Large insurance brokerage and consulting firm with significant employee benefits and HR consulting capabilities. Acquired by Aon in 2024. Provides overlapping benefits advisory, retirement, and HR consulting to mid-market and large employers.
• Brown & Brown: Public insurance brokerage with a growing employee benefits segment serving mid-market employers. Comparable in offering employee benefits brokerage, HR consulting, and risk solutions across multiple geographies.
• Hub International: Large North American insurance brokerage built largely through acquisitions of independent agencies. Provides employee benefits, retirement, and HR consulting services competing directly with BAN member agencies.
• Lockton Companies: Largest independent insurance brokerage in the world with deep employee benefits practice. Serves mid-market and large employers with comparable benefits advisory, actuarial, and HR consulting capabilities.
• Marsh McLennan (Mercer): Global consulting leader with major benefits consulting arm (Mercer) offering health, welfare, retirement, and HR advisory services. Competes with BAN member agencies on benefits brokerage, actuarial, and compliance engagements.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/BenefitAdvisorsNetwork
• LinkedInlinkedin.com/company/benefit-advisors-network

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Benefit Advisors Network (BAN)