Perpetuation

Virtually every industry has a model for comparing results to other businesses in the same field. For the independent agency system, that model is the Big “I” Best Practices program.

What does the future of insurance hold for we mere mortals? Your guess is as good as mine, but we need to imagine it. Technology and the world in general…

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.

Planning for succession can be very rewarding IF you have the right people behind you. It can be downright dangerous if you don’t. The emotional rewards of passing your agency…

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…

Patricia Fripp, CSP, CPAE is a San Francisco-based professional speaker on the subjects of Change, Teamwork, Customer Service, Promoting Business, and Speaking Skills. She is the author of Get What…

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…

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,…

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…

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…