Performance Benchmarking for Insurance Brokers and Wealth Management Firms

Harnessing Data to improve your business

What are the key drivers for success in the financial services sector? Benchmarking data of leading brokers and wealth management firms is crucial to identifying their best practices. And MarshBerry’s analysts and consultants harness over 40 years of industry-specific data to help you learn from the best and drive improvements in the way your business operates.

While some vendors can provide a slice of a point-in-time data, MarshBerry’s analysts partner with you to look at the holistic performance of your firm beyond just revenue. And our Value Intelligence (VI) Portal gives you access to the latest and most accurate data necessary to increase firm agility and bring about change. We have the solutions you need to set a course of action based on the priorities of your business.

The MarshBerry team helps you:

• Discover weaknesses, opportunities, and areas in need of improvement
• Define actionable strategies, set performance goals and measure success with peer performance benchmarks
• Keep informed of industry trends and performance, and identify trends that require immediate attention

Breaking Down Performance into Five Key Areas

MarshBerry’s proprietary benchmarking solution breaks down your performance into profit, equity, growth, operational and CEO perspectives. Your performance is compared to the Average Performance and Best 25% ratios. According to historical data, brokers and wealth management firms that perform well tend to have a higher agency value.

1. Profit Perspectives – Analysis of income statement revenue and expenses on a line–by–line basis.
2. Equity Perspectives – Showing the proficiency in managing the balance sheet, including asset management and collection performance.
3. Growth Perspectives – Measuring the effectiveness of your firm’s business model and growth strategy. And benchmarking the sales engine performance, including new business written, total book, average account size and sales velocity rate.
4. Operational Perspectives – Analysing the ability to leverage employees to sustain growth in earnings and set goals to improve employee productivity by department.
5. CEO Perspectives – Benchmarking CEO performance, providing a well-balanced representation of the competencies that are necessary to manage an insurance brokerage or wealth management firm successfully.

Trusted MarshBerry advisors work with you to create value. Talk to MarshBerry advisers to discover the best strategic options for you.