Run Time: 26:31
Agency Aggregation “Future of IA Channel”
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In this recording, we catch up with our good friend Steve Brooks in Southern California. In 1989, Steve launched an agency from scratch to focus on high-net-worth clients; a few years ago he sold to fast-moving Acrisure. He's a big fan of the Acrisure model, noting that it isn't venture capital backed - and thus looking to flip the investment. Nor does it demand changes of acquired firms. Management and affiliate agencies own 83% of Acrisure, which has grown to $1.6 billion in premium and 400 locations. "We don't change anything about the agencies we acquire," Steve says. "We don't change the name. We are still maintaining our entrepreneurship and our prospecting. We don't lose those carrier relationships that are still very valuable for me. We don't have lots of levels of management. We still decide the day to day in our own offices." Acrisure does support back-office functions, such as licensing, EPLI and E&O, and, optionally, technology. Steve outlines how the group operates, including the capability to refer business among partner agencies.
