Magazine

As hard as it may be to believe, the oldest wave of Generation Z is now hitting their late twenties. While Gen Z insurance needs are evolving, they’re not too different from their predecessors.

In 2017, Carroll became a part owner and president of Stein Agency, a process in which she has stepped up professionally and grown into a leadership position while learning the ropes of agency management and p&c insurance.

​The landscape of agency acquisitions is as challenging as it is rewarding. To be successful, an acquisition requires a delicate balance between strategic alignment, financial prudence, cultural fit and more.

In 2022, Dew, then 20% owner of WinStar, learned that the other two owners would be retiring. She didn’t want to see the agency absorbed by the large buyers circling overhead and decided she would buy it herself—even if it meant mortgaging her house.

Many owners think that having a perpetuation plan is something that only older agency owners need to worry about, but the reality is that every agency owner needs to have a plan in place.

By leveraging resources to ensure their agencies continue to thrive, agents can spend more time doing what matters most: advising their clients and training the next generation.

The COVID-19 pandemic may make planning your exit look more appealing than ever.

Don’t be afraid to do old things in brand new ways, invest in education, and other lessons from over two decades in the industry.

Here are three stories from independent agents who are taking part in the successful perpetuation of not only their individual businesses, but the independent agency system as a whole.

Your agency is a barn find for a private equity buyer. Consider a staged internal perpetuation to create a legacy and maximize your earnings.