Adding P&C Business to Wealth Management Firm.

[maksim]

I am currently an RIA (registered investment advisor) and do life and health business. Was considering adding someone for P&C, both to provide something for our existing clients, and to use it as a lead generator for holistic wealth management.

How should I go about this? Hire a P&C guy already? hire new and train them and license them as p&c? Buy out an agency?

thanks!

 

[Bertolinoins]

Buy an agency with the owner or competent producer included or hire an experienced P&C agent. Training somebody from the ground up when you don't even fully understand the P&C side of the business is a recipe for failure IMO.

 

[Guest]

You could simply get licensed, then find a P&C agent to partner with, split the commission, as long as you are licensed, he can pay you,

Then you have access to his book, and he has access to your book.

P&C can be alot of headaches......lots of service work.