Culture Clashes Doom Agency M&As

There is probably no greater adventure foran independent agency than when combining operations with anotherfirm as part of a merger or acquisition. If done right, it can be amonumental success for everyone involved, financially andculturally. But, warn M&A pros, when fundamental questions gounasked and the process goes awry, it can be a disaster.

There are places to turn and people for agents to speak to forsupport when they are looking at an M&A opportunity. Yet theprocess should begin at a very personal level–a conversation overlunch, a principal's contemplation about his or her future, adiscussion over how to get the best insurance deal for a long-timecustomer if the agency loses markets because it cannot generateenough volume on its own to satisfy carriers.

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