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NEWS & VIEWS ON THE INSURANCE BROKERAGE & WEALTH ADVISORY INDUSTRIES 

MarshBerry is dedicated to helping firms Learn, Improve and Realize their fullest potential. Today’s ViewPoint is offered to help you navigate the complexities of advancing your firm at every stage of ownership.

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September 21, 2023

M&A DEALS FOR WEALTH ADVISORY FIRMS DIPS IN AUGUST

by John Orsini
Despite a late summer dip in activity, “consistency” continues to be the theme for wealth advisory M&A transactions. With a monthly average of 23 deals YTD, high interest in the wealth space continues.
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September 20, 2023

TOP 100 INSURANCE BROKERS LIST: HOW CAN FIRMS BREAK INTO THE BOTTOM 50?

by Scott Kegler & Tommy McDonald
Watch MarshBerry’s Scott Kegler and Tommy McDonald break down the “Top 100 Insurance Brokers” list to reveal strategies for firms looking to grow and compete to make the list.
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September 19, 2023

POSITION YOUR INSURANCE BROKERAGE FOR GROWTH IN ANY MARKET

by Eric Hallinan
Positioning your firm to drive sales and organic growth will help you weather any conditions – soft market, hard market, recession or economic boom. Here’s how to control your own destiny and not be at the whim of market cycles.
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September 18, 2023

THE BEST INSURANCE M&A PARTNERSHIPS START WITH A STRATEGIC PLAN

by Phil Trem
Regardless of the current economic challenges, or recent optimism for a soft landing – the future of your company depends on your ability to have a goal and a strategic plan to reach it.
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September 14, 2023

THE IMPORTANCE OF OWNING CLAIMS DATA FOR DELEGATED AUTHORITY FIRMS

by Peter Kampf
Data control is crucial for delegated underwriting authority firms, as many lack contractual rights to claims underwriting data. This creates significant risks in their ability to adapt to market changes, maintain carrier partnerships, and maximize business value.
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September 12, 2023

SIX KEYS TO BUILDING A VALUABLE FINANCE & INSURANCE FIRM

by Kristen San Marco
Understanding the fundamentals of what makes an F&I firm attractive and taking the right steps to enhance business performance – are essential to maximizing long-term value.
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September 7, 2023

RIA FIRMS’ DELIVER POSITIVE RESULTS IN Q2 2023 

by Kim Kovalski
Top wealth management firms continue to produce positive Q2 earnings results, citing benefits from growth plans and improving market conditions.
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September 6, 2023

TREAT CARRIERS AS PARTNERS, NOT VENDORS

by Randy Fulmer
During challenging market times, how you work with your existing carriers can provide invaluable benefits in navigating individual carrier actions and business practices. 
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September 5, 2023

SUCCESSFUL TALENT ACQUISITION BEGINS WITH GOOD TALENT MANAGEMENT  

by Bryan Lake
A company’s success hinges on the caliber of its workforce. Are you recruiting when you should be developing current talent? Here’s how to shift to a more holistic and long-term perspective on talent acquisition and talent management. 
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August 31, 2023

BANK-OWNED INSURANCE MAY SOON BECOME OBSOLETE

by Wayne Walkotten
In this highly active M&A market, what options are available to banks looking to capitalize on their investments in insurance brokerage businesses?
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August 29, 2023

THE RISKS OF HANDSHAKE AGREEMENTS IN INSURANCE BROKERAGE

by Jennifer Martin, CPA, CFE
Since the insurance brokerage business is relationship-based, it’s typical for independent brokers to have referral relationships with noncompeting brokers. These relationships are often sealed with just a handshake. However, not formalizing such agreements can lead to costly disputes down the road.
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August 22, 2023

CALIFORNIA PERSONAL LINES AND ITS IMPACT ON THE INDEPENDENT BROKER

by Graham Gould
Challenging factors in the California insurance market have driven multiple insurance companies to leave the state or pull back coverage, as carriers try to limit the impact of unprofitable underwriting.
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August 21, 2023

MAXIMIZING SUCCESS WITH INSURANCE CARRIERS THROUGH AGENCY NETWORK COLLABORATION

by Mark Sichterman
Maximize the benefits of working with your agency network by participating and collaborating through the hard market and beyond. Find out how to reap the full benefits of network membership, including gaining access to top insurance carriers.  
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August 18, 2023

EARNINGS WRAP-UP: INSURANCE BROKERS REPORT STRONG Q2 2023 RESULTS

by MarshBerry
Insurance brokers reported overall strong earnings results for Q2 2023, which were attributed to a combination of improving new business, ongoing insurance rate increases, and strong retention.
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August 17, 2023

DUE DILIGENCE: DON’T FORGET THE CULTURE

by Jennifer Martin, CPA, CFE
A key step in M&A transactions is due diligence – confirming the soundness of a deal economically, structurally, or legally. But what about culturally? Skipping this critical step could lead to the disastrous failure of a deal.
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August 17, 2023

WEALTH ADVISORY M&A FOR Q3 2023 STARTS OFF WITH A BANG

by John Orsini
If June’s M&A activity hinted at a possible summer slumber for acquisitions of wealth advisory firms – July didn’t get the memo. Get the latest numbers on transactions, buyers, and deal highlights.
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August 15, 2023

VESTTOO FRAUD INVESTIGATION: ANOTHER ISSUE FOR FRONTING CARRIERS

by Gerard Vecchio & George Bucur
The insurance sector is feeling déjà vu as the Vesttoo investigation poses potential threats to fronting carriers that may trigger financial troubles – similar to those that took down risk taking fronting carriers in the early 2000s.
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August 10, 2023

CHOOSING THE RIGHT PATH FOR YOUR WEALTH ADVISORY BUSINESS

by John Orsini
As a busy owner of a wealth or retirement planning firm, focusing on your longer-term business goals may feel like a luxury – when in actuality it’s a necessity. Even if you don’t have a plan yet, it’s important to develop your vision for what your firm will look like in the future. 
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August 10, 2023

EMPLOYEE RETENTION IS OVERRATED

by Bryan Lake
There’s a difference between good retention and bad retention. Here’s how to evaluate both newer and long-term employees and when to rethink your approach to retention.  
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August 4, 2023

The Largest Insurance Brokers Get Bigger on Top 100 List

by Scott Kegler
The Top 100 Insurance Brokers list continues to be top heavy from intense consolidation and continued P&C rate hardening – producing double-digit organic growth. The top 50 brokers now represent 96% of all the revenue on the list. So, how can firms break into the bottom 50? 
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Recent Acquisition Transactions
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September 2023 One80 Intermediaries, LLC Euclid Enviant, LLC Acquisition

One80 Intermediaries, LLC has acquired Euclid Enviant, LLC 

MarshBerry served as the financial advisor to Euclid Insurance Services

 Toggle Transaction Details September 2023

One80 Intermediaries, LLC has acquired Euclid Enviant, LLC 

MarshBerry served as the financial advisor to Euclid Insurance Services

 One80 Intermediaries, LLC has acquired Euclid Enviant, LLC Buyer: One80 Intermediaries, LLC Seller: Euclid Insurance Services # of Employees: 120 Closed Date: 09/01/23 MarshBerry Advisory Role: MarshBerry served as the financial advisor to Euclid Insurance Services September 2023 Simplicity Group Hancock Brokerage Acquisition

Simplicity Group has acquired Hancock Brokerage

MarshBerry served as the financial advisor to Hancock Brokerage

 Toggle Transaction Details 09/07/23

Simplicity Group has acquired Hancock Brokerage

MarshBerry served as the financial advisor to Hancock Brokerage

 Simplicity Group has acquired Hancock Brokerage Buyer: Simplicity Group Seller: Hancock Brokerage # of Employees: 10 Closed Date: 09/01/23 Location: Louisiana MarshBerry Advisory Role: MarshBerry served as the financial advisor to Hancock Brokerage August 2023 Marsh & McLennan Agency, LLC The Graham Company Acquisition

Marsh & McLennan Agency, LLC has acquired The Graham Company 

MarshBerry served as the financial advisor to The Graham Company

 July 2023 Evertree Insurance Group The Banks Agency, Inc. Acquisition

Evertree Insurance Group has acquired The Banks Agency, Inc.

MarshBerry served as the financial advisor to Evertree Insurance Group

 July 2023 C3 Risk & Insurance Services Private Management Insurance Agency Acquisition

C3 Risk & Insurance Services has acquired Private Management Insurance Agency 

MarshBerry served as the financial advisor to C3 Risk & Insurance Services

 July 2023 C3 Risk & Insurance Services Clark Insurance Agency Acquisition

C3 Risk & Insurance Services has acquired Clark Insurance Agency 

MarshBerry served as the financial advisor to C3 Risk & Insurance Services

 July 2023 Evertree Insurance Group Alliance Insurance Services Acquisition

Evertree Insurance Group has acquired Alliance Insurance Services 

MarshBerry served as the financial advisor to Evertree Insurance Group

 July 2023 Evertree Insurance Group 1st American Insurance Acquisition

Evertree Insurance Group has acquired 1st American Insurance

MarshBerry served as the financial advisor to Evertree Insurance Group

 July 2023 Evertree Insurance Group Alex Johnson Insurance Agency Inc. Acquisition

Evertree Insurance Group has acquired Alex Johnson Insurance Agency Inc.

MarshBerry served as the financial advisor to Evertree Insurance Group

 July 2023 Alkeme Insurance Milestone Company Acquisition

Alkeme Insurance has acquired Milestone Company 

MarshBerry served as the financial advisor to Alkeme Insurance

 July 2023 Evertree Insurance Group State of Art Insurance Agency Acquisition

Evertree Insurance Group has acquired State of Art Insurance Agency

MarshBerry served as the financial advisor to Evertree Insurance Group

 June 2023 RSC Insurance Brokerage, Inc. First Insurance Group Acquisition

RSC Insurance Brokerage, Inc. has acquired First Insurance Group

MarshBerry served as the financial advisor to First Insurance Group

 June 2023 Novatae Risk Group Far East Insurance Marketing, Inc. Acquisition

Novatae Risk Group has acquired Far East Insurance Marketing, Inc.

MarshBerry served as the financial advisor to Far East Insurance Marketing, Inc.

 June 2023 King Insurance Partners Pavese-McCormick Agency, Inc. Acquisition

King Insurance Partners has acquired Pavese-McCormick Agency, Inc.

MarshBerry served as the financial advisor to King Insurance Partners

 June 2023 Hub International Limited Johnston Lewis Associates, Inc. Acquisition

Hub International Limited has acquired Johnston Lewis Associates, Inc.

MarshBerry served as the financial advisor to Hub International Limited

 June 2023 Hub International Limited Custom Results Corporate Consulting, LLC Acquisition

Hub International Limited has acquired Custom Results Corporate Consulting, LLC

MarshBerry served as the financial advisor to Hub International Limited

 June 2023 Hub International Limited Life and Health assets of Ibex Enterprises, Inc. Acquisition

Hub International Limited has acquired the Life and Health assets of Ibex Enterprises, Inc. 

MarshBerry served as the financial advisor to Hub International Limited

 June 2023 RSC Insurance Brokerage, Inc. Johnson Financial Group Acquisition

RSC Insurance Brokerage, Inc. has acquired Johnson Financial Group

MarshBerry served as the financial advisor to Johnson Financial Group

 June 2023 Hub International Limited Business Benefits Resource, LLC Acquisition

Hub International Limited has acquired Business Benefits Resource, LLC

MarshBerry served as the financial advisor to Hub International Limited

 June 2023 Hub International Limited Health Insurance Consultants Acquisition

Hub International Limited has acquired Health Insurance Consultants

MarshBerry served as the financial advisor to Hub International Limited