Two potential upsides if you’re bought by a property and casualty brokerage

Productivity gains and skills development opportunities are among the ways a wealth management firm can benefit if it gets bought by a property and casualty insurance brokerage.

While multiple lines discounts are appealing, “the real discount lies in the efficiency in productivity gains from dealing with one shop,” said Rob Taylor, executive vice-president of retirement at Hub International. “You don’t have to have all these separate business relationships.”

When P&C brokerages buy retirement and wealth planning advisories, they offer employees development opportunities, added Terri Botosan, regional president of employee benefits and life at Hub International.

Navacord Inc. has a formal employee-development program with coaches and mentors, executive chairman T. Marshall Sadd said.

For more information, check out How to find P&C talent by acquiring wealth planning advisories in our sister publication, Canadian Underwriter.