November 2009

featured agent

Michael Wilson Metlife Agent Newark, DE Email Mike

TWG: What has been your greatest success as an insurance agent?

Michael: As a newer agent, having the opportunity to ‘learn the ropes’ from a more experienced agent has helped tremendously!

Networking has also provided huge success for me as it is currently my biggest lead generator. I try to build relationships with professionals who are closely connected with their clients and are genuinely concerned about their financial portfolios such as accountants, lawyers, mortgage brokers and real estate agents. This allows me the opportunity to not only build a referral base but to also help other professionals in various industries meet all the financial needs of their clients

TWG: How would you use a $100,000 lump sum of capital in order to grow your business?

Michael: I would definitely increase my marketing in the local Newark and surrounding area. It’s much easier to build a relationship with the client if you are nearby and able to meet face-to-face. I would also hire additional staff to help with the daily office operations that would allow me to visit more clients and build more relationships.

Read Michael's complete interview

industry edge

The Value of Getting a Valuation for Your Agency

Jerry Pickett Ganis Consulting

In a recent seminar Ganis Consulting asked agency owners to estimate the market value of an insurance agency with the following characteristics:

Annual Revenue: $500,000
Lines of Business: 90% Personal
Years in Business: 10
Amount of Debt: $100,000

No two answers were alike and ranged from $400,000 (1x revenue less the amount of debt) to $1,000,000+ (at least 2x revenue). As acquisition brokers and consultants to insurance agents, we see this misunderstanding about agency values all the time. And the only acceptable answer that should have been given regarding the value of a $500,000 personal lines agency in business for 10 years with $100,000 in debt is this: It depends.

TWG Capital specializes in funding agency acquisitions and providing free book valuations for independent agents and agency owners. For more information about obtaining capital, email marketing@twgcapital.com or call 877.894.2785.
For a free book valuation, click here.

Read the complete article

view past issues

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agencies for sale

Sallese Allstate Insurance Agency
Little Italy - San Diego, CA
$145,000

TWG Capital specializes in funding agency acquisitions. For more information about obtaining capital or listing an agency for sale in next month’s issue for free, email marketing@twgcapital.com or call 877-894-2785.

Disclaimer: This agency is not affiliated in any way with TWG Capital or any partner of TWG Capital nor is TWG Capital representing the sale of the agency listed above. This is for promotional purposes only, as a free service for independent agents helping to accelerate their future.

mark your calendar

November 14 – 16 | Kansas City, MO

LTCi - 8th National Producers Summit
Stop by the TWG Capital Booth and enter to win the cash prize giveaway!
download the show schedule

Nov 16 | Indianapolis, IN

IIAI - Independent Insurance Agents of Indiana Conference

January 27 – 29 | New York, NY

ILS - 7th Annual Insurance Linked Securities Summit

Last month…

October 31 – November 3 | Las Vegas, NV

IDIS - Disability Insurers and Producers Conference
Read the article and view the photo gallery

sales tip

A proven method to get your “foot in the door” with prospects is to provide educational reading material to initiate conversations. By reading material written by industry experts, prospects will form their own ideas about the need for your services rather than you selling your service to them.

Books such as "What All Stock and Mutual Fund Investors Should Know!" by Bruce Sankin are a quick read for those interested in investing and learning more about their finance options. Learn more.