Jonathan Pratt ’86 is head of Life Solutions Group

MBS alumnus Jonathan Pratt ’86 is founder, chairman and CEO of Life Solutions Group, a Danvers, Massachusetts firm he created in 2010 to help business owners, executives and employees build and preserve wealth.

Pratt, his leadership team and staff of more than 250 advisers and specialists have provided services to more than 5,000 clients from around the country, offering advice on topics that include employee benefits and retirement planning. The firm also provides access to financial literacy educational seminars.

“Our goal is to help people live with purpose and peace of mind,” Pratt says. “We are proud to provide financial advice that enables them to enjoy security and maximize the financial rewards of their life’s work.”

A finance major, Pratt completed his MBS degree in three and a half years while raising twin sons and playing football for the Black Bears.

He has spent the past 30 years in the financial services industry as an adviser, manager, general agent and executive with several major life insurance companies, specializing in re-engineering all aspects
of operations to drive increased revenues and profits.

In addition to working at MetLife, John Hancock Financial, New England Financial and Penn Mutual, he started Foresters Financial Partners, a national insurance marketing firm. In this role, he recruited and trained more than 1,500 representatives to provide advice to individuals and business owners.

A nationally recognized expert in the insurance industry, Pratt has taught continuing education courses for the American College of Financial Services, GAMA (General Agents and Managers Association) and LIMRA (Life Insurance Marketing and Research Association).

He earned a master’s degree in organizational development from Endicott College in 2003 and his Chartered Leadership Fellow from The American College, GAMA and LIMRA in 1999.

He and his wife live in Gloucester, Massachusetts, where they were born and raised their three sons. Their youngest son, Derek, graduated from the University of Maine in 2013, where he also played football.


 

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What are your duties as chairman and CEO of Life Solutions Group?

I am the “ambassador” of the firm; serving as visionary, educator, mentor and leader. I work with staff to open and develop new business relationships and nurture existing ones as we craft each solution to optimize our clients’ position and deliver the best value in the market.

Why do you like your job?

I enjoy tackling complex problems, exploring options and developing unique solutions to help people make the most of their investments. We create solutions that protect them against risk and enable them to build greater wealth.

What was your career path?

After graduating from MBS, I entered the financial services industry as an adviser working on investment planning. But I began focusing on protection- and insurance-based planning after losing one brother to cancer and another to a car accident. These events helped me see the importance of insurance and protection.

How do you use the skills and training you learned at MBS?

My work ethic and commitment began at MBS and continues today in every aspect of my life. With its competitive academic environment, MBS was both challenging and inspiring. The school gave me a solid business foundation and the confidence to go out into the workplace and make a difference.

With twin sons and a dream to play Division I football while earning a degree that would prepare me for a successful business career, I knew discipline and personal sacrifice would be required. Being a student-athlete gave me that discipline and structure. Both athletic and academic achievement were important to me, and neither could have been achieved without the other.

What is your best memory of MBS?

I will never forget my senior year when I took extra courses so I could graduate in three and a half years. I made the Dean’s List and contributed significantly to the success of my team. It was a great way to finish my career at UMaine.

What else occupies your time?

My family and I participate in the American Cancer Society’s Relay for Life, an annual walking event to raise money to fight cancer. Over the past 10 years, our team Family Ties has raised more than $100,000.

I serve on the board of the Gloucester High School Athletic Hall of Fame, helping select the student-athletes who will be honored. I also am a member of the Cape Ann Chamber of Commerce, where I am director of educational development, helping transition students into the workforce.