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Look Before You Leap On Agency M&As

Surprisingly, some independent insurance agencies and brokerage firms do not do their homework prior to entering a merger or acquisition, and not surprisingly, the honeymoon is often over before it has begun.

Possibly enthralled by the thought of new beginnings, some agencies allow emotions to replace due diligence, which is akin to rearranging deck chairs aboard the Titanic. When such an important decision is treated in such a cavalier fashion, choppy water ahead is virtually guaranteed.

Succinctly, much like many modern marriages (because, in a business sense, that is exactly what they are) mergers and acquisitions demand pre-nuptial agreements that should be thoroughly thought through and agreed upon before ink is placed on any contractual agreement. This usually involves a considerable amount of give-and-take on the part of both parties involved.

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