The Journey of James Hirsch: From Chartered Accountant to Founder of Northguard Insurance Brokers
James Hirsch, founder of Northguard Insurance Brokers, is no stranger to the entrepreneurial spirit. From his early exposure to business through his mother’s boutique to a successful career in finance, James has always had a passion for building something meaningful.
Today, as the owner of one of the few Indigenous-owned employee benefits insurance brokers in Canada, James has channeled his diverse professional experience into helping businesses streamline their employee benefits strategies. In this interview, James shares insights into his journey, the challenges he faced, and the lessons he’s learned along the way.
Please walk me through the journey that led you to where you are today.
James Hirsch’s entrepreneurial journey began early in life, inspired by his mother’s transition from a successful career as a dental hygienist to the owner of a boutique pottery and art shop. “Watching her build something she loved while helping customers sparked a similar passion in me,” James recalls. This early exposure to the joys and challenges of entrepreneurship fueled his desire to create something meaningful.
James pursued a formal education in business, earning his Chartered Accountant (CA) designation, followed by a Chartered Business Valuator (CBV) certification. These qualifications gave him a strong foundation in finance and a deep understanding of various business models. However, James soon realized his true interests lay in the strategic aspects of business, particularly in corporate development, mergers and acquisitions, and private equity. His focus shifted toward small and medium-sized enterprises (SMEs), where he could make a more significant impact.
During the COVID-19 pandemic, an unexpected turn of events led him to group insurance. His wife’s company was acquired by a large consolidator, providing him with an inside look at the employee benefits industry. James quickly noticed an untapped opportunity. “I realized that employee benefits are not just a major expense but a critical tool for attracting and retaining talent,” he explains. Many companies, he observed, treated employee benefits as a transactional service, but he saw the potential to offer more by acting as a strategic business partner.
In 2022, driven by a clear vision, James set out to acquire and operate an employee benefits business. After connecting with two seasoned professionals in the industry, who were seeking a succession plan, James successfully struck a deal in 2023. This marked the birth of Northguard Insurance Brokers—a company designed to go beyond traditional employee benefits by providing strategic insights to support long-term business growth and employee engagement.
What is a typical workday for you?
James thrives on the dynamic nature of his work. “No two days are the same,” he says, describing the flexibility he enjoys as a business owner. His mornings often start with a personal touch, taking his children to school before diving into the day’s tasks. After that, it’s a whirlwind of meetings, calls, and strategy sessions.
A significant portion of James’s time is spent connecting with business leaders and owners, gaining insights into their operations and identifying gaps, particularly in their employee benefits strategies. “It’s about understanding their business needs and finding ways we can support their growth through the right benefits packages,” James explains. His work involves not only fine-tuning benefit plans but also offering broader business advice, helping clients align their benefits programs with their long-term goals.
Operating on a national scale, James often works virtually with clients across Canada but makes it a point to foster in-person relationships through lunches, coffee meetings, and networking events. “Building meaningful relationships is at the core of what we do,” he emphasizes, noting that trust and personal connection are essential in his line of work.
What have been successes in your entrepreneurship journey?
One of James’s key achievements has been identifying a niche within the private equity space. By streamlining employee benefits across multiple businesses, he has been able to create efficiencies while ensuring each business’s unique needs are met. “This approach has brought significant value to our clients and has allowed us to grow quickly,” James notes.
Another major success came through his partnership with two experienced professionals in the employee benefits space. The partnership provided them with a succession plan and allowed James to inject fresh energy and direction into the business. “It was a win-win situation—continuing their legacy while positioning the business for future growth,” he says.
Perhaps the achievement James is most proud of is the tangible impact Northguard has made for its clients. In one standout example, the firm helped an investment group save $600,000 in annual premiums, freeing up funds to reinvest in other parts of their business. Additionally, within its first year, Northguard successfully onboarded 15 new clients and now supports thousands of employees across Canada.
James also takes pride in leading one of the few Indigenous-owned and operated employee benefits insurance brokers. This personal milestone reflects his commitment to inclusive business practices and the ability to succeed in a competitive industry.
What are some obstacles you’ve come across?
Like many entrepreneurs, James has faced his share of challenges. One of the most significant hurdles was finding the right business to invest in and operate. “It’s a process that takes time, patience, and resilience,” he says, reflecting on the years it took to identify the right opportunity.
Leaving a stable career as a Chartered Accountant also presented its challenges. For both James and his family, the decision to transition from a secure career path to the uncertainties of entrepreneurship was daunting. “It was a leap of faith, not just for me, but for everyone around me,” he recalls.
Another persistent challenge has been getting in front of clients and industry partners. “People are busier than ever, so finding the right balance between patience and persistence is key,” James explains. Building meaningful relationships takes time, and staying visible requires continuous effort.
Comparing where your business is today and where it was when you started in 2023, what has been the key to helping you grow?
According to James, the key to Northguard’s early success lies in the strong relationships he has built over the years. “Having a network of trusted relationships has been invaluable,” he says. Those relationships opened doors and created opportunities, giving the company the momentum it needed in its early stages.
Another critical factor has been Northguard’s commitment to delivering on its promises. The company’s ability to follow through on its initial commitments helped establish trust with early clients and generated case studies that have since become essential tools for attracting new business. “Our success stories from those early clients serve as proof points for future clients, showing that we deliver results,” James emphasizes.
What led you to working with Guildstreet?
James’s relationship with Guildstreet began through a referral from a service provider in the insurance space. The introduction underscored the importance of maintaining strong relationships and a robust business network. “Referrals like this are what create new opportunities,” James explains.
Guildstreet’s goals aligned perfectly with Northguard’s focus on providing specialized services, including health spending accounts and individual insurance solutions. “We showed Guildstreet that we could offer more than just traditional group benefits, which made us a natural fit for collaboration,” he adds.
What advice do you have for anyone starting their own business?
James’s advice for aspiring entrepreneurs is simple but powerful: Stay grounded in your purpose. “There will be tough days, and you may even question your path at times,” he says. “But remembering why you started will help you push through those challenges.”
He also emphasizes the value of mentorship. “Find someone who has been through the entrepreneurial journey and can offer objective advice,” James advises. A mentor doesn’t have to be a professional; they could be a spouse or family member—someone you trust to provide guidance and support when needed.
Finally, James underscores the importance of building a strong network. “Meaningful connections can unlock invaluable opportunities,” he says. Stepping outside your comfort zone and putting yourself out there is essential to success. “You never know where your next opportunity might come from.”
James Hirsch’s journey from a finance professional to the founder of Northguard Insurance Brokers illustrates the power of recognizing gaps in the market and turning them into opportunities for growth. His ability to identify inefficiencies in the employee benefits space, combined with his focus on building strong, strategic partnerships, has been key to his success.
Driven by a desire to provide more than just transactional services, James has built a business that prioritizes long-term value for his clients. As he reflects on his path, he underscores the importance of staying true to your vision, seeking guidance from mentors, and cultivating meaningful relationships—advice that any aspiring entrepreneur can benefit from.
Written by Justine Beaulieu
