Perpetuation

According to the 2014 Future One Agency Universe Study, 14% of independent agencies do not have a perpetuation plan in place. But industry experts estimate the number is much higher.

Many agents with successors in place are not so sure that their successors can manage the business as well as the older agents or sufficiently enough to assure the older…

Is the future positive for small, traditional agencies? As with most broad looking-into-the-future answers, it depends. It depends on knowledge, commitment, and recognizing reality. For example….

We often hear of agencies ‘merging’ as a form of perpetuation planning for an owner. When we analyze most of these ‘mergers’, we find that they were acquisitions in disguise…

I have unfortunately worked with the families, estates and partners of several agency owners who have passed away. Most, but not all, of the deaths occurred unexpectedly. In all cases,…

If the retirement of an owner is not planned and prepared for, both the retiree and the business could find themselves in critical positions, floundering to achieve a balance from…

When the current owners wish to perpetuate the agency without severe financial impact to the new owners, they sometimes attempt to gift, discount or bequeath ownership interest instead of charging…

Agencies who have Perpetuation Plans in place that will transition agency management and ownership from one generation to another often fail to properly implement the Transition Plan or do it…

One of the stumbling blocks we sometimes encounter in establishing a perpetuation plan is an employee (or owner) who wishes to “Retire In Place.” Rather than disassociate from the agency,…

What the heck does my company do if I die on the way to my next appointment? As the sole owner of my company, this created a dilemma. Having just…