Agents Who Merged WithBanks Offer ‘Marital’ Advice

A trio of independent agents who have sold their firms to banks say that the key to success in an integrated operation is for each department to stick to its own specialties while proactively referring clients to one another.

As bank-agency mergers have evolved, the marriage has helped two very divergent product lines with very different marketing attitudes grow and prosper by feeding off one another without stepping on each other’s toes, agents who have taken the plunge say.

Uniting banking product and insurance sales has helped acquired agencies grow beyond what they might have achieved had they remained purely independent, these agents contend. In return, these agents say, banks get the benefit of knowledgeable independent insurance agents in-house, and in the best cases the marketing tools that banks lack.

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