MarshBerry Platform and First Choice Agents Alliance Combine to Create the Strongest Aggregator in the Insurance Industry | Business Insurance

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WOODMERE, OH, August 2, 2022 /PRNewswire/ — MarshBerry Platform is pleased to announce the completion of its merger with First Choice Agents Alliance (FCAA), one of the nation’s leading insurance networks. MarshBerry, a leading investment banking and consulting firm serving the insurance distribution and wealth management industries, initially launched the MarshBerry Platform in 2019. Led from its inception by David Soforenko, MarshBerry EVP, MarshBerry Platform was intentionally designed as an exclusive offering for Connect members that went beyond simple aggregation to help companies accelerate organic growth. MarshBerry Platform and FCAA each separately represent two of the top aggregators in the country. The strategy brings together resources, scope and scale to further strengthen them and position them as one of the leading agency associations in the insurance brokerage industry. As a result, the MarshBerry Platform and FCAA will be marketed together as FirstChoice. Terms of the transaction were not disclosed.

“MarshBerry is recognized for our customer-centric mindset, industry knowledge and ability to help create economic value for our customers. The FCAA business model fully aligns with these principles and growth strategies of the MarshBerry Platform. We are excited to bring together the best of what both firms offer in best practices, technology, thought leadership, assets, broader access to insurance partners, and most importantly, the ability to help more clients regardless of size. Align FirstChoice’s name recognition with the MarshBerry brand allows insurance brokers of all sizes to benefit from financial stewardship that allows them to play bigger and maintain a firmer grip on their independence,” said John WeplerChairman and CEO of MarshBerry.

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FirstChoice will offer the full suite of aggregation solutions with customized offerings for independent brokers and agencies of all sizes. The combined company serves customers with less than $1 million in annual income to more than $1 billion in annual income.

“This is a transformative deal for all members,” he said. mike griffin, executive director of FCAA. “We continually strive to diversify and deepen offerings and solutions to meet our members’ business lifecycle needs. The collective resources and synergies are so compelling that we expect FirstChoice to not only dominate the agency aggregation and partnership space, but redefine it. We are focused on ensuring a seamless integration for members and staff, led by Captain Keith, President of FirstChoice. We are delighted to join forces with MarshBerry.”

The transaction marks another strategic move for MarshBerry. Earlier this year, MarshBerry announced its partnership with Atlas Merchant Capital, which supported efforts to aggressively and intentionally grow and improve all facets of the business. Combining efforts with FCAA is an example of that intentional growth and adds a presence in the SE United States with an office in the FCAA home state North Carolina.

For more information on MarshBerry Platform, FCAA, or FirstChoice products and services, please contact the Executive Vice President David Soforenkoa [email protected] or call 440.220.4101 or contact Captain KeithPresident of FirstChoice in [email protected] or call 704.831.8708.

MarshBerry: Helping Customers Learn, Improve, and Gain Value

MarshBerry, founded in 1981, serves the insurance distribution and wealth management industries, including insurance agents and brokers, specialty dealers, private equity firms and wealth management firms. MarshBerry’s industry-specific services help clients create, enhance and sustain value through: M&A advice, equity and debt capital raising, financial consulting, market intelligence and benchmarking, organic growth, connection: executive peer exchange and platform aggregation. Learn more at www.MarshBerry.com.

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About FCAA

First Choice Agency Alliance is a Charlotte, NC company founded in 2015 as a wholesale point of sale for captive agents nationwide seeking access to the commercial market. In 2017, the company evolved into an aggregation network to provide direct carrier access, strategic planning, education and technology to independent insurance brokers. Learn more at www.joinfcaa.com

Atlas Mercantile Capital

Atlas Merchant Capital LLC was founded to participate in attractive market opportunities in the financial services industry. Based on New York Y LondonAtlas Merchant Capital was founded by bob diamond Y David Schamis, who together with their partners form a complementary partnership with extensive investment and operating experience across the financial services landscape. More information is available at www.atlasmerchantcapital.com

Contact:
lauren byerssenior vice president
Phone: 440.392.6546
Email: [email protected]

SOURCE MarshBerry