In this episode of the Insurance Perspectives podcast, Kenny Hendricks and Carey Wallace discuss the intricacies of agency acquisitions. They explore the importance of understanding what it means to buy an agency, the readiness of an agency to acquire, and the significance of team communication during the process. The conversation also delves into evaluating cultural fit, identifying key performance indicators, and recognizing red flags in potential acquisitions.

Takeaways

• It's crucial to have clean financials before pursuing an acquisition.
• Cultural fit is more important than just numbers in an acquisition.
• Communication with your team is key during the acquisition process.
• Red flags include unreliable data and unclear ownership agreements.
• Understanding the market dynamics is critical before acquiring a book.
• Recurring revenue is what makes an independent agency valuable.

Learn more about AgencyFocus:
https://www.agency-focus.com/
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https://www.instagram.com/agencyfocus_cw/

To get in touch with Carey, reach out via LinkedIn.

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Intro/Outro music by Denys Kyshchuk from Pixabay