Trusted Captive Insurance Manager
Tim Welles
Business Development
Tim’s 26-year financial services career began in 1989 as the Director of Risk Management for Pi Kappa Phi Fraternity where he oversaw the risk management and insurance programs for the fraternity’s four entities and 130 undergraduate chapters.
Early in his career as a financial services consultant Tim earned his CFP (Certified Financial Planner) designation and held the series 7 and 63 licenses. Tim has practiced as a financial consultant in the areas of employee benefits, investments, life insurance and qualified, and non-qualified retirement plans. In 2000, Tim co-founded, and was a principal, at Benefits Management Group, Inc. Much of Tim’s work during the course of his 25-year career has been with owners of privately-held companies.
Tim served as the Chapter Advisor of the Alpha Sigma Chapter (University of Tennessee) of Pi Kappa Phi for many years and is currently a member of the chapter’s housing corporation board. Tim has been a member of Cedar Springs Presbyterian Church in Knoxville, TN for approximately 20 years.
A native of Buffalo, New York, Tim received his BBA in Finance from the University of Oklahoma.
Tim, his wife of 24 years, and their children reside in Farragut, Tennessee.
Recent Industry News
Captive Consolidation: Why Focused Management Matters More Than Ever
In today’s dynamic risk environment, captive insurance companies have become essential tools for businesses seeking more control over risk financing. By forming their own insurance entities, companies gain the ability to customize coverage, better manage costs, and achieve improved transparency across their risk programs. Captives are no longer just niche solutions—they’re strategic assets used by […]
CIC Services Files Second Lawsuit Against the IRS, Continuing Fight for Small and Mid-Sized Businesses
CIC Services, a Knoxville-based firm that helps small and mid-sized businesses form and manage captive insurance companies, has filed a second lawsuit against the Internal Revenue Service (IRS), challenging what it describes as a continued campaign of regulatory overreach that harms legitimate business owners. The complaint, filed in the U.S. District Court for the Eastern […]
New IRS Captive Rules Beg To Be Challenged
On January 14, just days before the end of the Biden Administration, the US Treasury continued its multi-decade-long attacks on Congressionally-authorized captive insurance arrangements by issuing a new final regulation relating to 831(b) small captive insurance companies: https://public-inspection.federalregister.gov/2025-00393.pdf. Unfortunately, the new rule very much resembles the originally proposed rule that received overwhelmingly negative feedback from […]
How The Captive Insurance Industry Can Increase Your Profits
Listen to CIC Services’s own Randy Sadler as he discusses how captive insurance can increase your profits with the Profit Coach 4 You podcast host. In the episode, you will hear how captive insurance can reduce insurance costs and generate profit for your business. Click play on the video below, or click here to read the […]