Selling A Book of Biz

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Aug 3, 2007 7:18 pm

I’m choosing between two large mutual life co’s and two investment houses. The life companies are pitching the “you own your own business” theme but when pressed they have no answer for an ultimate exit strategy where you can sell your book of business which seems like a test of whether or not you actually own a business vs. owning your job.


Can anyone tell me their take on how it works on the investment (wirehouse) side? Making the giant assumption that you’ve done well enough to have a book that has value can you sell it? Is there a ready market for it? Are there other exit strategies?

Aug 3, 2007 8:02 pm

Insurance is easier to sell than investments.  With insurance, the buyer has to just be contracted with the insurance company.  With investments, the buyer must have the same broker dealer.

Aug 3, 2007 8:04 pm

Make sure that the insurance company accepts brokered business, otherwise, you are limited to agents of the company.  This leaves out any 100% captive shops and semi-captive places like Northwestern Mutual and New York Life.

Aug 4, 2007 12:52 am

THX