DEAR FELLOW MEMBERS,
When a company grows at the rate that PURE has grown, massive change seems inevitable. But for the PURE Subscribers’ Advisory Committee (SAC), our effectiveness has been influenced in no small part by the consistency and stability provided by the leadership of Bill Wilson. Bill has served on the SAC since the company’s inception nearly a decade ago, and he’s served as its Chairman for the past eight years. I’m honored to succeed Bill in this role and welcome his continued enthusiastic participation.
Over the past 25 years, I’ve had the opportunity to be part of a movement in the wealth management world towards greater transparency, the reduction or elimination of conflicts, and an emphasis on the alignment of interests between consumers and the firms that serve them. The insurance industry has been woefully late to recognize this shift in client demand, but I’m very proud to be associated with PURE as they implicitly understand this demand shift and have built a company premised on an alignment of interests with our members.
I want to affirm the role of the SAC and offer some thoughts on how we can make PURE even better in the future:
Strengthen Alignment with the Attorney-in-Fact (AIF)
We meet with the management team at least quarterly to understand their strategies and priorities. We effectively serve as an Audit Committee to ensure the results truly are as they have been presented. There may be limits to what an Advisory Committee like ours can do, but we have not been given any restrictions by Ross and his team. We meet regularly with the outside investors of the AIF (Stone Point Capital, KKR, and XL Catlin) to make sure our expectations for a “service first” culture match with their expectations of potential returns. I can report that the philosophical alignment between investors, management, and membership is strong.
Help Fuel Member Engagement
PURE is our company! If we are delighted with the service we experience, we should invite our most successful, most responsible friends, colleagues, and family members to join PURE. As a committee, we explore strategies with the AIF to harness the full enthusiasm of the PURE membership to responsibly grow this great company. This starts by each member of the Committee acting as an exemplar in this regard.
Enhance the Member Experience
In addition to proposing our own ideas for ways to create an even better experience for
PURE members, we weigh in on ideas presented to us by the management team.
I hope you will join me in thanking Bill and all of the members of the SAC for their guidance and leadership. We welcome your input and will continue to work hard to contribute to making this great company even better.
James McLaughlin, Chairman, Subscribers' Advisory Committee (SAC)