Independent Vs Being Recruited into a Big Top 50 P&c Firms

[iiinycboi]

Is there every a chance of owning a independent agency and doing really well, then getting invited to join the TOP 50 P&C firms?

independent agency for 10 years vs working for top 50 p&c firm

which would you think is more rewarding and makes more money?

I guess this is a silly question to ask about going from a being your own boss to work for someone else.

 

[xrac]

Most people who have been their own boss for very long don't do too well working for someone else.

 

[infoe]

You hear of principals mergin with other agencies. You used to hear of principals being recruited to be executives of certain companies. Dont hear of that too often.

 

[Bertolinoins]

Most successful regional agencies that specialize in commercial insurance end up being bought by a top 20 national agency.
I have worked at a Top 75 regional agency and owned my own agency, I really prefer working for myself. When I am ready to retire, I will create an ESOP and sell the company to my agents and employees. The corporate grind of constantly changing compensation plans, 7am Monday morning sales meetings and Friday afternoon pipeline reports got really old for me.

 

[infoe]

At 33 youve got 12 years min left even if you wantes to retire early an reaching 12mil in premium your going to have one heck of commission receivable come retirement time.

 

[iiinycboi]

ahh, i see guys...

but would having your own agency ever give you the chance to write those big giant accounts or they always goto the top 50-100 p&c companies.

I want to eventually write those accounts but being a small agency owner, dont know if they will give you the time of the day.

 

[infoe]

what big giant accounts do you speak of? and what is the reason you want to "write" those accounts? I understand people have different goals, but would'nt financial independance as well as just being your own boss be essentially what you'd "want"?

 

[CaptiveGuy]

I'd rather make a living working for myself writing $5-20k commercial accounts then being an employee just to get a cut of a $50k account. If I could make $50k more a year working for someone else I'd consider it.

But over time, being your own boss and running your own business is priceless.

 

[infoe]

I'd rather make a living working for myself writing $5-20k commercial accounts then being an employee just to get a cut of a $50k account. If I could make $50k more a year working for someone else I'd consider it.

But over time, being your own boss and running your own business is priceless.

It's all relative and I understand what your saying..but just to take it a bit further...i'd rather make 50k less and work for myself...it's something I've always said...I guess its all relative...if I could make 300k working for myself clean or a 400k salary working for someone else well Id still probably work for myself for 300k...it's just that priceless. It could be considered a bit different if the max your going to make for yourself is 50k and could make 100k working as an employee...so thats what i meant by being relative.

Again working for yourself, you could be your own worst enemy...assume a 400k employee job gets 3weeks minimum vacation...most people that work really hard to do really well for themselves almost seem to forget to vacation.

My goal is to be very financially well off...so that I can enjoy Life a little more...

 

[CaptiveGuy]

It's all relative and I understand what your saying..but just to take it a bit further...i'd rather make 50k less and work for myself...it's something I've always said...I guess its all relative...if I could make 300k working for myself clean or a 400k salary working for someone else well Id still probably work for myself for 300k...it's just that priceless. It could be considered a bit different if the max your going to make for yourself is 50k and could make 100k working as an employee...so thats what i meant by being relative.

Again working for yourself, you could be your own worst enemy...assume a 400k employee job gets 3weeks minimum vacation...most people that work really hard to do really well for themselves almost seem to forget to vacation.

My goal is to be very financially well off...so that I can enjoy Life a little more...

I 100% agree sorry I didn't specify. Yes I meant making "good" money to me is around $200-250k profit. The extra $50k or whatever I could make as an employee would mean nothing. I also would not be selling insurance if I was only making $50k year after year.

We are on the same page. The OP just has to realize what's best for him. My freedom and eventually having employees make me money is priceless.