Digital Insurance Pint: Mergers & Acquisitions Part 1: Kenny Nichols - Western Financial Group
Good news – the DIPP crew has done a bunch of legwork for you. Our M & A series covers some of the most important questions & brings you the answers, right from the source. In this episode, you’ll hear the answers straight from Kenny Nichols, Western Financial Group CEO. We asked Western Financial Group, Navacord, Rogers Insurance (CBN), AJ Gallagher, Westland, Brokerlink and HUB International the following questions: Where did your firm come from and where are you going? Why should a broker sell to you – what value do you bring? What’s your target broker? Does a broker with a strong digital presence get a valuation boost? Do you want former owners to stick around? Do you keep the original name? What’s in it for the acquired employees? What’s in it for carriers? Who wins & who loses? How do you value a brokerage? What can a broker do to make their business worth more? How do valuations compare between heavy CL brokers vs heavy PL brokers? Does a ROFR diminish the value of a brokerage? What is your firm’s end game?