Pennsylvania Starting an Agency

[paulallred]

Can anyone shed light on the PA rules of setting up a new insurance agency. For instance, can a licensed agent be a partner in an agency where the other partner is simply a business partner / partial owner. I am just getting started out and have an associate who would like to invest in the startup, but he has no inclination to sell or perform any fiduciary duties rather than invest in the growth and receive longer term potential profits. Thank you.

You should be ok, however be careful about setting up your monetary arrangement to be based on commission unless this silent partner is life licensed.

Also, make sure you are receiving enough comp from your carriers so that you are still able to make the money you need and enough to attract Agents as well as retain them, year after year.
I can lend assistance if you don't have your desired arrangement.