Thought Leadership

Protect and Strengthen Client Relationships—Don’t Disrupt Them

At a recent insurance industry event, the Insurance Executive Forum (which was sponsored by Illinois State University’s Katie School of Insurance and Financial Services) the panelists discussed the rapid pace of merger and acquisition activity in the insurance industry. I…

09 16

Turning Your ESOP into an Advantage Again

As I meet with agency owners some seem hesitant to mention that their agency has an Employee Stock Ownership Program (ESOP) in place. When we talk in more detail, the agency owners admit that what started out as a good…
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09 16

BroadStreet℠ Focuses on Building Agencies for the Long-Term

When insurance agencies seek succession for their businesses today, one of the likeliest prospects they face is being acquired by a firm backed by private equity that has a specific date in mind to “flip” the agency for a quick profit…
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08 16

Agency Value: Trusted Local Relationships are Priceless

An insurance reporter recently asked me for advice to give agents for successful sales. This is what I told her: Focus on building deep, life-long relationships. Instead of looking at the margin on an individual sale, think about the value…
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06 16

Supporting Our Partners’ Agency Growth with Expertise and Capital

As consolidation continues for independent insurance agents, the ability to invest in and partner with high quality agencies requires legal, financial, accounting and other sophisticated expertise. Perhaps more importantly, these transactions require ready access to fairly priced capital. At BroadStreet…
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05 16

BroadStreet’s℠ Unique Business Model Ensures Smooth Agency Perpetuation

“The dreaded ‘P’ word: Perpetuation” is how a recent article in propertycausualty360.com described independent agents’ reactions to the subject of succession planning. The article detailed the dread of most principals: “It’s the one issue that directly determines the fate of…
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03 16

The Secret of Success: Local Agency Autonomy

When I meet with insurance agency owners about investing in their businesses, one of the most frequent and important concerns they have is about losing control of their operations. It’s a natural concern. When you spend so much of your…
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