Arnold Ross, Founder

Arnold Ross has been gone since 2014, but his indominable spirit and vision remain a vital part of the DNA of The Ross Companies. 

Arnold was a very smart man who was innovative and a problem solver. While he may not be here to confirm this, if his business vision was focused on sales alone, he would have grown bored and moved onto another line of work. When we think of Arnold’s ethics and values, this is a big part of what keeps us focused on continuing to be problem solvers and advisors to our clients. 

Arnold’s vision was always far beyond that of being an insurance guy. While insurance is part of the business, guidance for clients became the goal, and solving complex problems involving inheritance, taxes, debt, and creating opportunities for buyouts was really where his leadership took The Ross Companies. These ideas drive the company’s agenda to this day. 

One of the amazing things about Arnold’s kind of servant-leadership is that clients don’t always realize what they want. They may have a nebulous idea, but the solutions to the problems they recognize seem beyond the horizon. From their viewpoint, the solutions may be too daunting or too unfocused, and finding that focus is difficult. Arnold was the type of person who could serve as the lens, coming up with one or more innovative ideas that could resolve a complex problem. Insurance may be one of the tools for that job, but it goes beyond that. Sometimes these solutions would require a special kind of expert who is not part of the client’s team, and Arnold could spin his Rolodex and find the right person to connect with the client to create that perfect solution. In the end, the problem would be solved, and the client would be happy. 

Arnold joined the firm that was then known as Hirschfeld, Stern & Company in 1960, shortly after graduating from the University of Pennsylvania’s Wharton School of Finance and Commerce. The original partners, Isidor Hirschfeld and Benjamin Stern, founded the company in the 1930s and built it into an industry leader. They saw promise in a considerably younger Arnold, who they brought in to help them continue the business. Arnold proved their faith in him correct as he pushed the company onward and upward.

Eventually, Hirschfeld and Stern would retire, but Arnold Ross continued the business. For many years, it continued under the Hirschfeld, Stern & Company name to honor the company’s founders. But as it became obvious to Arnold that his son Norman would soon join him in the business, it made sense for the company to change its name to The Ross Companies. 

Arnold’s talent as a problem solver built The Ross Companies into an innovative name in planning for clients who were wealthy. His use of insurance was impressive, and his book of business grew large enough for him to become a member of the Million Dollar Roundtable. He also became a very active member of the Yale Club Insurance Study Group, a highly selective group of insurance industry professionals who meet monthly to discuss issues in the business. Today, his son Norman is proudly a member of both.

Arnold Ross was one of the leaders who helped build the insurance industry that serves affluent clients. Arnold’s work grew the company beyond insurance, creating a consultancy that worked on life insurance, personal financial planning, and executive compensation and benefits. Arnold’s innovations led to him helping to pioneer such ideas as the employee stock purchase plan (ESPP) well before the legislation was in place that made this a common employee benefit in public companies. He compiled these ideas into a book he co-authored, Executive Employment and Compensation, that became widely referred to in determining executive compensation packages. 

Under his leadership, The Ross Companies grew to a firm of more than 60 employees. While times and business dynamics have changed, the company continues to advocate the same values and ethics that Arnold espoused.

Today, he is remembered as a leader in the evolution of the industry, and a truly innovative and trusted mind.