Chief Executive Officer
Bennett Meyer has been Chairman and CEO of Meyer-Chatfield Corp, America’s leading Bank Owned Life Insurance consultancy, since 1992. He has built a team of 30 people comprising expert BOLI consultants, analysts, administrators and other insurance and financial professionals. The team is dedicated to providing banks with optimal BOLI solutions and outstanding service. Before co-founding Meyer Chatfield, Bennett was a Principal at Clark Consulting and an agent at Karr Barth in Philadelphia.
Bennett has consulted on billions of dollars of BOLI transactions for over 300 banks; with individual deals ranging in size from just a few hundred thousand dollars up to several Billion. This experience has given him a deep insight into all aspects of BOLI and the requirements of banks of all sizes.
Bennett is nationally recognized as a leading industry innovator, always seeking new means to maximize risk-adjusted returns for banks. He developed several patents, including a methodology for cash value control within BOLI contracts to stabilize growth. Bennett is actively developing a new product, called Institutional Pooled BenefitsSM, that will allow BOLI Death Benefits to be smoothed and even predicted over time.
As an authority on insurance applications for banks Bennett began advising the Office of the Comptroller of the Currency (the ‘OCC’) in 1994. He worked on the inter-agency guidance for BOLI, OCC 2004-56. Having worked closely on best practices in BOLI administration, he designed the proprietary software used by Meyer-Chatfield Administrative Services to administer BOLI assets for hundreds of banks. Leveraging this technology, the company now services transactions originated by Meyer Chatfield and others that were sold by third parties.
Bennett is an expert in Private Placement Variable Universal Life (‘PPVUL’) and Hybrid BOLI, as well as General Account. Recently he has assisted various insurance carriers on product development around the increasingly popular Hybrid BOLI solutions.
As a founder of Meyer-Chatfield’s sister company, Meyer Chatfield Compensation Advisors, Bennett has worked with banks all over the country to structure executive compensation plans funded with BOLI policies.
Bennett is a popular speaker at industry events, his knowledge and philosophy of insurance carrier independence make him an objective and trusted source of information.
Bennett holds securities licenses: 6, 63, 7 and 24.
Bennett and his wife Wendi have been married for 24 years, and reside with their two college age children in Huntingdon Valley, Pa. They are both active in many local charities. In his spare time, Bennett is an avid golfer.