Wellhouse Celebrates 5^th Anniversary & Announces Richard Stein, Jr. as President.

He succeeds his father, Rick Stein, who remains CEO of the Jacksonville-based insurance boutique

“Some would say it’s too early,” Rick Stein said, “but Richard has been instrumental in building Wellhouse brick by brick. This led to a banner year in 2022 where we added flagship clients like Beaver Street Fisheries and Scott-McRae Auto Group (SMAG).”

Wellhouse is an independent, insurance and risk management boutique focused on middle market and growing businesses. Its clients are primarily multigenerational, industry leading institutions from a variety of sectors. Wellhouse offers companies and select individuals property and casualty insurance along with risk management services.

Stein thought JoAnne Ackman the Director of Risk Management at SMAG put news of his son’s new post best, “Wow! This is awesome! It’s been an absolute joy to work with Richard. It has been a great partnership with Wellhouse. We enjoy working with people who share our core values and understand the keys to a successful business.”

Stein, Jr. founded Wellhouse with his father after starting his career in investment banking and corporate development. He saw consolidation in the insurance industry as an opportunity to address a need on the First Coast and beyond.

“Our clients are typically coming from large shops where the value proposition seems to be a logo or smaller organizations who lack the fire power to help drive down the Total Cost of Risk. Brand recognition counts for something, but our clients want a partner who is relentless in finding solutions. They come to us looking for a trusted advisor who adds value throughout the year rather than just showing up at each renewal.”

Wellhouse’s expertise goes beyond standard property and casualty policy placement and includes alternative risk structures like captives to shelter clients from the open market, risk management to reduce the likelihood and severity of accidents, and claims containment to lower the long-term impact of incidents.

“This is an incredibly important industry and insurance brokers should provide much more than the placement of a policy. We take pride in helping our clients insure against the uncontrollable risks of doing business and actively mitigate those risks that are controllable. We strive to deliver impactful solutions along with high-touch service.”

Matthew Medure CEO of Medure Brother’s Restaurant Group, the company’s first client, shared his experience with Wellhouse after learning of Stein, Jr.’s new title. “Since joining Wellhouse, I have had peace of mind knowing we are well protected and in very good hands. Their team is incredibly responsive to our every need and has always worked proactively. This gives us the sense that we are their only account. The Wellhouse team has also fought hard for us in times of need. Thank you for truly partnering with us.”

That sentiment echoes tenets Rick Stein saw as critical in building Wellhouse, “It’s been my belief that focusing on the Total Cost of Risk: insurance, lost time, lost productivity, and management’s attention, are all crucial for a business to remain profitable and keep good people. Our goal is to serve as a reminder that a trusted broker can be a true partner. And we’re just getting started.”