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https://completemarkets.com/Article/article-post/1007/MANAGING-TRANSFERRING-AND-ACQUIRING-FAMILY-INSURANCE-AGENCIES/
...vely. It’s important for parents or siblings to recognize that their ...ostility, which can be fueled by the parent’s perception that the child ...
https://completemarkets.com/Article/article-post/1933/Leadership-It-Doesn%E2%80%99T-Fit-Anymore/
... greater opportunities than their parents. They value the individual over the ...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/1007/MANAGING-TRANSFERRING-AND-ACQUIRING-FAMILY-INSURANCE-AGENCIES/
... manager, to fold into your agency. But it's also important to delve into the background of these people to make sure that they are, in fact, producers and managers. Because they're family members they might've received books of business without doing much production on their own. Likewise, they could be managers simply because of their name, rather than their ability to lead effectively. It's important for parents or siblings to recognize that their family members might resent the pressure of an obligation to come into the agency and the insurance business. They could arrive with a chip already on their shoulders, particularly if they're members of the new' generation that seem to have an exaggerated sense of entitlement. The situation might become even worse if they come directly out of school without any previous job experience. ... Stage One lasts for the first four years when things are pretty good. The children appreciate the fact that the father or mother has provided the opportunity for them to be involved and the parents are happy that their heirs have chosen this as their profession. Stage Two, generally from years four through ten, is termed trouble on the horizon. This is the period in which the younger people become less cooperative. They tend to want to change things in the operation while their parents remain in the mode of if it's worked for 50 years, don't change it. We've often seen this attitude in the agency. As the marketplace continues to change, the failure of parents or other older family members to listen to the younger people can be deadly. Because change is essential today not letting younger voices be ...