Wade CoxPrincipal

    BA (Econ), CLU, CHS, GBA, RPA, CEBS

    Wade has worked in the group life, health and retirement business for 34 years. His experience includes regional group sales management responsibilities for two major insurers in three different provinces. He has worked in Ontario, Saskatchewan and Alberta. Wade got his start working in sales of individual insurance products, individual and group retirement/pension products, and employee benefit plans for London Life in Ontario. He progressed to manage the London Life office in Saskatoon and subsequently managed the Canada Life office in Edmonton. As a result he understands the complexities involved in the needs of different employers across the country.

    Wade had the distinct opportunity to work through the demutualization of one of the major insurers in Canada in 1999. This happened to several insurers within a short period of time. It involved a massive shift in mindset as a result of the change in ownership from that of policyholders to shareholders. The nature of the market changed. Return on equity suddenly became a much bigger focus. The margins that insurers were including in their pricing became larger. As a member of that company’s Vice-President’s Advisory Council, he became part of the strategic corporate process to increase the viability of that company by increasing their profitability. Since much of the market operates in the same ways as that insurer, Wade has a clear understanding of where extra margins of profit may be eliminated to the advantage of Benefex clients.

    Wade’s expertise also extends to employer retirement programs of all kinds. He acts as an advisor to some of our clients for their Group RRSP plans, Defined Contribution Pension Plans and Defined Benefit Pension Plans. He also assists employees with investment decisions for their retirement plans.

    Recent services provided by Wade include:

    • Working with both public and private sector employers. He has experience in dealing with bargaining units and out-of-scope employers.
    • Creation of a format for a client to survey its employees regarding plan design and cost satisfaction. Reporting to the client on the results of that survey for the purpose of plan redesign
    • Total redesign of a benefits plan based upon attention to employee focus and productivity
      • Including the implementation of a FLEX account in the redesigned package
    • Benchmarking of a plan to illustrate competitiveness for our client
    • Downsizing of a plan from as many as nine different providers to take advantage of economies of scale for pricing as well as ease of administration and employee claiming processes.
      • Extensive care to detail was necessary to ensure ongoing quality plan design
    • Considerable experience in various funding and pooling arrangements, and how they affect pricing on various benefit lines, including Fully Insured Non-Refund, Refund, Administrative Services Only (ASO), and Self Insurance
    • Disability program management
      • Reviewing claims
      • Communication and process improv
      • Experience with insurer and third party disability management programs
    • Almost 35 years of experience with group retirement plans and legislative alterations in various provinces over that time.
      • Has arranged Group RRSP contracts, Deferred Profit Sharing Plan contracts, Defined Benefit Pension Plan contracts, and Individual Pension Plans and has advised clients on appropriate compliance measures for Defined Benefit Pension Plans

    Wade joined Benefex as a consultant in 2003 and became a partner in 2004. Our clients benefit from the knowledge Wade has acquired in the areas of plan design, underwriting and ongoing financial management of benefit programs. Because of his analytical persona, effective solutions for our clients are properly implemented.

    Wade is a member of the Edmonton Chapter of Advocis.