7 Steps to A Stronger Agency Brand

The Hales & Company/National Underwriter Mergers & Acquisitions Seminar series got off to a great start in NYC this week. Some 60 agents and brokers packed the all-day event, in which Laurie Donohue and I presented the segment on 7 Steps to a Stronger Brand. The topic seemed to strike a chord with the attendees—especially when they heard that a strong brand can add 100 basis points to an agency’s valuation multiple.

Scott Addis, who gave his lively “Purple Cow” presentation about organic growth strategies, highlighted another interesting point: His research shows that some 48% of agents don’t feel their firm’s brand is differentiated from the competition (and I’ll add that some of the remaining 52% are…um, optimistic…in their belief that their brand is distinctive). Sounds like a great opportunity for stronger brands to edge out the competition.

The seminar’s agenda was rich with other subject experts:
•    Rob Lieblein, Hales & Company, tackled three segments—an economic overview; business models for benefits brokers, plus organizational and compensation strategies.
•    David Paul, ALIRT Insurance Research, showed agents how to evaluate carriers beyond their Best rating.
•    Audra Szollosy, Hales & Company, reviewed 2009’s M&A picture and gave an outlook for the next year or two.
•    Dan Price, Hales & Company, got into the guts of transaction multiples, earn outs and deal structures.
•    Mike Griffin & John Stretton, Edwards Angell Palmer & Dodge, covered the legal strategies for M&A.
•    Laurie Lynard, The Prospecting Expert, has some funny (and real!) prospecting phone call recordings to share.
•    Peter Marathas, Proskauer Rose, gave legal insight to health care reform, HIPAA and CHIPRA.

Read Mark Ruquet’s write-up of the event in National Underwriter.

Laurie and I will be back with the road show in Chicago next week, and then Peter van Aartrijk and I will team up for Dallas and San Francisco in May. Join us.

www.mergerandacquisitionsseminar.com