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 read an article published by Business Insurance that reported on the event (full article here).…

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Nov 04

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 idea – aligning employees with the success of their business – has turned into something…

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Sep 26

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 of your long-term relationship with that customer. All insurance is local. As we evaluate partner…

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Aug 08

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 Partners℠, we know these factors are critical to the success of our core partner agencies.…

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Jun 30

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 thousands of insurance agencies, but few principals like to think about it. Some avoid thinking…

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May 24

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 life building a thriving insurance business, you don’t want to have your entire company pulled…

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Mar 17