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... have no plan to do so in the future. Many of these deadbeat shareholders mistakenly believe that agency ownership is a reward for past performance. It isn't. It needs to be recognized for what it is: the most precious currency a privately held business has to motivate and reward future performance. Other shareholders are taxed when any shareholder in an agency isn't creating value in proportion to the percentage held. Many agency principals suffer from high tax rates' imposed on them by such partners, but they can't quite identify the problem or the way to fix it. Well, it's time for a tax cut! A NEW APPROACH TO AGENCY PLANNING If you're a principal in a privately held insurance agency, establish a value creation quota for each shareholder. Here's how: A month before your next planning retreat, provide each shareholders with a statement showing the value of his or her share of the agency's stock. If you don't have an appraisal, simply use your best estimate. Put the desired rate of agency growth under that value-and if you don't aspire to growth exceeding 5%, you're in trouble. Then apply that percentage to the dollar value of the shareholder's interest. The product is the value creation quota-the amount of value the shareholder needs to develop in the coming year. Assign shareholders to bring ideas for achieving their value creation quota to the planning retreat. If you used this approach as your strategic planning framework, it would create quite a stir! It might be like tossing a hand grenade into your next shareholder meeting-and if it is, so be it. The more disruptive it ...

... have no plan to do so in the future. Many of these deadbeat shareholders mistakenly believe that agency ownership is a reward for past performance. It isn't. It needs to be recognized for what it is: the most precious currency a privately held business has to motivate and reward future performance. Other shareholders are taxed when any shareholder in an agency isn't creating value in proportion to the percentage held. Many agency principals suffer from high tax rates' imposed on them by such partners, but they can't quite identify the problem or the way to fix it. Well, it's time for a tax cut! A NEW APPROACH TO AGENCY PLANNING If you're a principal in a privately held insurance agency, establish a value creation quota for each shareholder. Here's how: A month before your next planning retreat, provide each shareholders with a statement showing the value of his or her share of the agency's stock. If you don't have an appraisal, simply use your best estimate. Put the desired rate of agency growth under that value-and if you don't aspire to growth exceeding 5%, you're in trouble. Then apply that percentage to the dollar value of the shareholder's interest. The product is the value creation quota-the amount of value the shareholder needs to develop in the coming year. Assign shareholders to bring ideas for achieving their value creation quota to the planning retreat. If you used this approach as your strategic planning framework, it would create quite a stir! It might be like tossing a hand grenade into your next shareholder meeting-and if it is, so be it. The more disruptive it ...

... agency doesnt get voted off the island. Mor.. All Articles by CompleteMarkets Editor Comments (0 ) And Karnack Says … This content has not been rated yet. CompleteMarkets Editor , Pamela Millard 4/30/2013 10:42:47 PM lsquo;AND KARNACK SAYS hellip; by Diane Herbert and Pamela Millard Take a close look at your capacity and take the steps needed to position your agency for the wild ride ahea.. All Articles by CompleteMarkets Editor Comments (0 ) Are You A Deadbeat Shareholder? This content has not been rated yet. CompleteMarkets Editor , Kevin Stipe 4/30/2013 12:00:00 AM If you're a principal in a privately held insurance agency, establish a value creation quota for each shareholder. Here's how: A month before your next planning retreat, provide each shareholders with a statement showing the value of his or her share of the agency's stock. If you don't have an appraisal, simply use your best estimate. All Articles by CompleteMarkets Editor Comments (0 ) Are Your CSR's Selling More Yet? This content has not been rated yet. CompleteMarkets Editor , Grace Bauer 4/30/2013 12:00:00 AM ARE YOUR CSRsSELLING MORE YET? by Grace Bauer Are you maximizing your agencys ability to touch your clients? In this article Grace Bauer offers guidelines t.. All Articles by CompleteMarkets Editor Comments (0 ) 1 2 3 4 5 x No Thanks Loading.. Loading.. x No Thanks Loading.. ...

... ever. Revenue and profit growth are strong and outside investors — especially banks — continue to show strong interest in the business. Even the bust of the new economy' has helped by leveling the playing field in the battle for talent, providing agency owners with a once-in-a-generation opportunity to recruit new blood into the insurance industry. If you already own, or are considering owning, an interest in an insurance agency, here are two points to consider: During the next decade, the return potential of stock in a private business might well exceed that of the S&P 500. Analysts are cautioning the current generation of investors that historically there have been long periods in which stocks moved sideways. For example, in early 1966 the Dow Jones Industrial Average hit the 1,000 level, then retreated. It bobbed up and down for years, and didn't cross the 1,000 level for good until 17 years later, in 1983! If history were to repeat itself, even a slow growth agency during the next 10 years might appreciate faster than the overall stock market. Stock in a privately held business offers tax advantages that are better than those of a qualified retirement plan, such as a 401(k ) . Does this sound too good to be true? Consider that when an individual sets money aside in a 401(k ), the contribution is tax deductible and any dividends or capital gains within the plan grow on a tax-deferred basis until they're withdrawn and taxed as ordinary income. The tax-deduction on contributions, combined with the tax-deferral on money in the plan, have ...

... Loading.. About Us Services Jobs PR Newsletters Employees Articles Blog Photos Group Connections Reviews IMMS Library Immerse yourself in our stacks. Take some time and browse through our library. We have thousands of articles, checklists, tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All many agency principals Articles tagged with many agency principals Back Are You A Deadbeat Shareholder? This content has not been rated yet. CompleteMarkets Editor , Kevin Stipe 4/30/2013 12:00:00 AM If you're a principal in a privately held insurance agency, establish a value creation quota for each shareholder. Here's how: A month before your next planning retreat, provide each shareholders with a statement showing the value of his or her share of the agency's stock. If you don't have an appraisal, simply use your best estimate. All Articles by CompleteMarkets Editor Comments (0 ) Considerations For Hiring A Producer This content has not been rated yet. CompleteMarkets Editor , Kevin Stipe 4/30/2013 12:00:00 AM Here's a quick investment quiz: Which of the following investments will provide the best financial return over the next five years? A.Microsoft stock B.Coca-Cola stock C.Citigroup stock D.A newly hired Property & Casualty producer The answer is D. No kidding. All Articles by CompleteMarkets Editor Comments (0 ) Managing Personal Lines This content has not been rated yet. CompleteMarkets Editor , Carol Hammes 4/30/2013 10:36: ...

... Deactivate Cancel Loading.. About Us Services Jobs PR Newsletters Employees Articles Blog Photos Group Connections Reviews IMMS Library Immerse yourself in our stacks. Take some time and browse through our library. We have thousands of articles, checklists, tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All agency ownership Articles tagged with agency ownership Back Are You A Deadbeat Shareholder? This content has not been rated yet. CompleteMarkets Editor , Kevin Stipe 4/30/2013 12:00:00 AM If you're a principal in a privately held insurance agency, establish a value creation quota for each shareholder. Here's how: A month before your next planning retreat, provide each shareholders with a statement showing the value of his or her share of the agency's stock. If you don't have an appraisal, simply use your best estimate. All Articles by CompleteMarkets Editor Comments (0 ) Calculating Agency Value 1 Verified Reviews - 5 of 5.0 1 2 3 4 5 CompleteMarkets Editor , Roy Phillips 4/30/2013 10:44:36 PM CALCULATING AGENCY VALUE by Roy Phillips When buying or selling an agency, be sure the price is right: base the value on projected pre-tax profit and an expert's opinion. .. All Articles by CompleteMarkets Editor Comments (0 ) Compensation And Motivation This content has not been rated yet. CompleteMarkets Editor , Carol Hammes 6/26/2015 12:00:00 AM Very few employees will leave your ...

... 2013 12:00:00 AM The cost of professional services continues to escalate, with partners in top CPA firms billing hourly rates of $400 or more, and partners in top law firms billing at rates even higher. Could a CPA or a lawyer really be worth that kind of money? How about an insurance agent? Kevin Stipe helps you to determine your effective hourly rate and its potential influence on your daily activities. All Articles by CompleteMarkets Editor Comments (0 ) Are You A Deadbeat Shareholder? This content has not been rated yet. CompleteMarkets Editor , Kevin Stipe 4/30/2013 12:00:00 AM If you're a principal in a privately held insurance agency, establish a value creation quota for each shareholder. Here's how: A month before your next planning retreat, provide each shareholders with a statement showing the value of his or her share of the agency's stock. If you don't have an appraisal, simply use your best estimate. All Articles by CompleteMarkets Editor Comments (0 ) Avoid The Empathy Trap This content has not been rated yet. CompleteMarkets Editor , Chris Burand 4/30/2013 12:00:00 AM AVOID THE EMPATHY TRAP by Chris Burand The ability to empathize is admirable. It requires listening, understanding, .. All Articles by CompleteMarkets Editor Comments (0 ) Best Partnership This content has not been rated yet. CompleteMarkets Editor 4/30/2013 10:37:32 PM BEST PARTNERSHIP Dear (Customer Name): When a business partner suffers a fatal accident, it's a devastating time for all those concerned ...

... All Articles by CompleteMarkets Editor Comments (0 ) Agents: Company Markets Aren't Always Going To Come To You! 1 Verified Reviews - 5 of 5.0 1 2 3 4 5 Andrew Barile , CompleteMarkets Editor 4/30/2013 12:00:00 AM AGENTS: COMPANY MARKETS AREN'T ALWAYS GOING TO COME TO YOU! by Andrew Barile One of the most important responsibilities of agents to themselves and their agencies is to maintain posit.. All Articles by Andrew Barile Comments (0 ) Are You A Deadbeat Shareholder? This content has not been rated yet. CompleteMarkets Editor , Kevin Stipe 4/30/2013 12:00:00 AM If you're a principal in a privately held insurance agency, establish a value creation quota for each shareholder. Here's how: A month before your next planning retreat, provide each shareholders with a statement showing the value of his or her share of the agency's stock. If you don't have an appraisal, simply use your best estimate. All Articles by CompleteMarkets Editor Comments (0 ) Combine Incentive Compensation With Employee Evaluations This content has not been rated yet. CompleteMarkets Editor , Al Diamond 4/30/2013 12:00:00 AM COMBINE INCENTIVE COMPENSATION WITH EMPLOYEE EVALUATIONS by Al Diamond Wouldn't it be nice to have employees looking for more business to handle, or helping to innovate to .. All Articles by CompleteMarkets Editor Comments (0 ) Combining Incentive Compensation With Employee Evaluations This content has not been rated yet. Al Diamond , CompleteMarkets Editor 4/30/2013 12:00:00 AM COMBINING INCENTIVE COMPENSATION WITH EMPLOYEE EVALUATIONS by Al ...

... All Articles by CompleteMarkets Editor Comments (0 ) Agents: Company Markets Aren't Always Going To Come To You! 1 Verified Reviews - 5 of 5.0 1 2 3 4 5 Andrew Barile , CompleteMarkets Editor 4/30/2013 12:00:00 AM AGENTS: COMPANY MARKETS AREN'T ALWAYS GOING TO COME TO YOU! by Andrew Barile One of the most important responsibilities of agents to themselves and their agencies is to maintain posit.. All Articles by Andrew Barile Comments (0 ) Are You A Deadbeat Shareholder? This content has not been rated yet. CompleteMarkets Editor , Kevin Stipe 4/30/2013 12:00:00 AM If you're a principal in a privately held insurance agency, establish a value creation quota for each shareholder. Here's how: A month before your next planning retreat, provide each shareholders with a statement showing the value of his or her share of the agency's stock. If you don't have an appraisal, simply use your best estimate. All Articles by CompleteMarkets Editor Comments (0 ) Are You Running In Place — Or Running The Race? This content has not been rated yet. Al Diamond , CompleteMarkets Editor 4/30/2013 12:00:00 AM ARE YOU RUNNING IN PLACE OR RUNNING THE RACE? by Al Diamond In this document, Al Diamond identifies the four phases of agent activity that define the effectiveness of.. All Articles by Al Diamond Comments (0 ) Business Continuity Planning 1 Verified Reviews - 5 of 5.0 1 2 3 4 5 CompleteMarkets Editor 4/30/2013 12:00:00 AM Each year potential ...

... ever. Revenue and profit growth are strong and outside investors — especially banks — continue to show strong interest in the business. Even the bust of the new economy' has helped by leveling the playing field in the battle for talent, providing agency owners with a once-in-a-generation opportunity to recruit new blood into the insurance industry. If you already own, or are considering owning, an interest in an insurance agency, here are two points to consider: During the next decade, the return potential of stock in a private business might well exceed that of the S&P 500. Analysts are cautioning the current generation of investors that historically there have been long periods in which stocks moved sideways. For example, in early 1966 the Dow Jones Industrial Average hit the 1,000 level, then retreated. It bobbed up and down for years, and didn't cross the 1,000 level for good until 17 years later, in 1983! If history were to repeat itself, even a slow growth agency during the next 10 years might appreciate faster than the overall stock market. Stock in a privately held business offers tax advantages that are better than those of a qualified retirement plan, such as a 401(k ) . Does this sound too good to be true? Consider that when an individual sets money aside in a 401(k ), the contribution is tax deductible and any dividends or capital gains within the plan grow on a tax-deferred basis until they're withdrawn and taxed as ordinary income. The tax-deduction on contributions, combined with the tax-deferral on money in the plan, have ...