#76 - Understanding Tax Implications in Insurance Agency Acquisitions w/ David E. Foate Artwork

Insurance Refocused

The independent insurance agency space is rapidly changing and evolving. The whole industry is feeling it and we want to provide a connection for agents to understand that they’re not alone. Join industry expert, Carey Wallace, and her Gen X daughter, Lindsay Wallace, as they interview agency owners, and get down in the nitty-gritty of every day topics that you face in your agency. The incoming wave of M&A, agency marketing, technology & insurtech, and generational change is upon us, join us as we redefine the industry!

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Insurance Refocused

#76 - Understanding Tax Implications in Insurance Agency Acquisitions w/ David E. Foate

July 09, 2024 • Lindsay & Carey Wallace • Episode 76

In this episode, Lindsay and Carey Wallace sit down with David E. Foate, an attorney with PFS Law specializing in insurance agency acquisitions. They discuss the key considerations for buyers when acquiring an agency, including financial due diligence, legal considerations, and tax implications. David emphasizes the importance of having a team of advisors, including legal counsel, financial advisors, and tax specialists, to navigate the complex process. They also highlight the need for clear communication and negotiation during the deal-making process, as well as the importance of trust and realistic expectations.

This episode is brought to you by Cake, connecting independent insurance agents looking to sell a book of business or a slice – a chosen group of accounts – with other agents looking to grow their business.

Learn more and create a free account at https://www.haveyourcake.com/

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Agency Focus is the premier resource for agents to understand their agency's value, plan for a transition of ownership, and prepare for acquisitions.

Learn more at https://agency-focus.com/

People on this episode

Carey Wallace

Co-host

Lindsay Wallace

Co-host