Phillip C. Richards, CLU®, RHU® is the Executive Chairman and Founder of the affiliated companies that comprise North Star Resource Group. North Star represents a fully integrated array of financial services and products for individuals and businesses of all sizes and has over 140,000 clients with offices in 22 states with client assets under management exceeding $8 billion dollars.
Phil received his BS in 1962 from Temple University where he served as Student Body President, and received the prestigious Sword Award as outstanding senior classman. A recipient of a four-year wrestling scholarship, he served as Team Captain and was inducted into the National Wrestling Hall of Fame in 2010 and the National High School Coaches Hall of Fame in 2010. Phil was elected to the Temple University Board of Trustees in 2009 and was the 2016 commencement speaker for Temple University when he was awarded an honorary Doctor of Humane Letters Degree.
Phil began his professional career in 1962 with the Penn Mutual Life Insurance Company in Philadelphia. In 1965, he joined Hartford Life leading the company in sales. In 1969, Phil acquired North Star Resource Group which has received the prestigious Master Firm Award every year since 1988 from GAMA International. North Star is celebrating 110 years in business with origins tracing back to 1908, and was awarded the Volunteer Team Award from Investment News in 2010 and the Better Business Bureau’s Integrity Award in 2011 and again in 2016*, voted one of 100 Best Places to Work in MN in 2015 and received the Minnesota Business Ethics Award in 2015 as well.
A winner of numerous industry awards, Phil is the 2005 Inductee into the GAMA International Hall of Fame and is the only firm leader in the world to have received the International Management Award from GAMA International each and every year (44 years) since the inception of that award. In 2007, Phil was named recipient of the 66th annual John Newton Russell Memorial Award, the highest honor in the insurance industry by The National Association of Insurance and Financial Advisors. Phil was inducted into The American College of Financial Services Hall of Fame in 2016. Phil’s first book, “25 Secrets for Sustainable Success”, was published in March 2007. He has since co-authored, “The Sky Is Not the Limit”, in 2014, “Practice on Purpose” in 2015, and “Promises Kept”, in 2016.
North Star has been the leading outlet for its largest supplier, Minnesota Life Insurance Company, for the last 26 years and has been ranked one of the 3 largest organizations of its kind in the world by GAMA International from 2013-2018 having over 300 associates in the firm with combined Gross Revenues were in excess of $65,000,000.
Phil is an Adjunct Professor Emeritus for the Carlson School of Management at the University of Minnesota and former Adjunct Professor at Central University of Finance and Economics in Beijing China; is a four-time Chairman of Securian’s National Advisory Board and was inducted as its 19th member into its Hall of Fame; served on the Executive Board of Directors for the Minnesota Council for Quality; and is Past President of GAMA International (2003). He is a 45-year arbitrator for the Better Business Bureau; is a past Chairman of the Board of Directors of the Minnesota/North Dakota Better Business Bureau; and served on the Board of Directors of the Arizona Quality Council and on the Board of Trustees for The American College in Philadelphia for 9 years, and was inducted into its Hall of Fame in November in NYC. In addition, he is a past Chairman of the LIFE Foundation and currently serves on the Mayo Clinic of Arizona Leadership Council, and on the Board of the National High School Coaches Assn., as well as the past treasurer of the Arizona Heart Foundation’s Board of Trustees. He chairs the Scott Richards North Star Charitable Foundation which annually receives 10% of all of North Star’s profits and has given over $3,500,000 to charities in the last ten years. Recently, the Foundation funded an endowed chair for Alzheimer's research at the Lewis Katz Temple Medical Center.
Phil has been a featured speaker in 17 countries on topics including strategic planning, leadership, and alternate distribution systems in the financial services industry in the 21st century. He has addressed the annual meetings of over 150 major companies; was a main platform speaker at the National GAMA International LAMP Meeting in 1998 and its Canadian counterpart in Toronto in 1999; a main platform speaker in Singapore, Taipei and Manila in August 2000; and a main platform speaker at the Asian Pacific Conference in Bangkok (where he co-founded GAMA Thailand) in 2001 and 2010 and in Singapore in 2011 and 2015; Crete, Greece in 2002; Athens in 2006, 2010 & 2015; Sidney, Australia in 2005; Buenos Aires, Argentina, Shanghai and Beijing, China numerous times as a lecturer at Beijing University and Shanghai University for Finance and Economics. He was a main platform speaker for MDRT in Vancouver in 2010 and in Ireland in 2012, as well as GAMA LAMP Asia in 2014 and 2016. He was a 2016 Asia LAMP main platform speaker in Bangkok as well as being featured in Vietnam and Singapore in 2016, and again in Bangkok and Singapore in 2017.
Firm figures as of December 2018.
Phil is a Registered Representative and Investment Advisor Representative of Securian Financial Services, Inc. and CRI Securities, LLC. 2495828/DOFU 4-2019
Phillip’s Support Team
Title: Executive Assistant
MinneapolisNorth Star Professional Center
2701 University Avenue SE
Minneapolis, MN 55414