Agency Buyer, Seller Goals Often Differ

While independent agents who put their firms up for sale often want simply to maximize the profit from years of hard work in building a book of business, a buyers demands often center more on strategic goals–usually the growth potential an acquisition provides in terms of geography or product line, industry observers say.

Buyers can have a number of strategic objectives, pointed out Steven Reichman, executive vice president with NIA Group in Paramus, N.J., who is president of the Professional Insurance Agents of New Jersey. His agency, which has 15 offices in four states, buys other agencies with the aim of strategic growth.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.