What is your insurance agency perpetuation plan?
In the day-to-day of running a business, it can be hard to find the time to pause and plan for the long-term future of the agency. But it’s essential to think about what will happen to the business when the current principal retires or steps back from leadership. Building an insurance agency perpetuation plan (also known as a succession plan, transition plan, or exit strategy) will help current owners reach their personal goals and protect the future of their business.
If you’re an agency owner, use the interactive decision tree below to find the next step on your perpetuation journey. If you’re an agency employee interested in ownership in the future, explore the resources below for insights and advice on perpetuation.
What's your next step toward agency perpetuation?
I plan for a family or staff member to take over
I plan to sell my agency to a third party
Resources Insights on insurance agency perpetuation, succession planning and sales
Research Report
Selling vs. Perpetuation: How Independent Insurance Agencies Are Planning for the Future
Liberty Mutual surveyed more than 450 agency owners and principals to learn how they are planning for perpetuation. Explore the research for insights on creating a perpetuation plan.
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Checklist
Agency Perpetuation Checklist from Agency Focus
Download this checklist – created by independent agency consultant Carey Wallace at Agency Focus – for a detailed rundown of expectations, timing, transition plans, and agreements between buyers and sellers.
Get the checklist
IA Magazine article
Deal Dynamics: Identifying an Acquisition to Add the Most Value to Your Agency
Looking to acquire an agency? With private equity M&A slowing down, now could be a good time for agencies to fuel growth with acquisitions. This article from IA Magazine explores best practices for agency acquisitions.
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