Agency Perpetuation Pt. 1 - Carey Wallace

In this episode of the Insurance Perspectives podcast, Kenny Hendricks and Carey Wallace delve into the critical topic of perpetuation planning for insurance agencies. They discuss the definition of perpetuation planning, its importance, and the challenges faced by agencies that lack a solid plan. The conversation emphasizes the need for a living document that evolves with the agency and the emotional aspects of transitioning ownership. They also explore best practices, the role of mentorship, and the importance of empathy in navigating these transitions.

Takeaways

• A perpetuation plan should be a living document that evolves.
• Empathy is crucial during the transition of ownership.
• Planning should start several years in advance of any transition.
• Agencies should consider multiple scenarios in their plans.
• Communication is vital in perpetuation planning.

Learn more about AgencyFocus:
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To get in touch with Carey, reach out via LinkedIn.

To listen to the episode of the Insurance Refocused podcast featuring Paul and Sean Hawkins, click here.

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Intro/Outro music by Denys Kyshchuk from Pixabay