Phil Trem

Trem covers brokerage mergers and acquisitions for Leader's Edge.
Acquiring Expertise, Not Just Revenue
Health+Benefits Acquiring Expertise, Not Just Revenue
Buyers show rising interest in the employee benefits and consulting space.
May 28, 2023
2022 M&A by the Numbers
Industry 2022 M&A by the Numbers
The following data reflect analysis published by MarshBerry based on announced m...
April 30, 2023
Consolidation Spreads East
Industry Consolidation Spreads East
U.S. M&A trends have reached the European brokerage market.
April 30, 2023
For Potential Sellers, What Matters Most Is Growth
Industry For Potential Sellers, What Matters Most Is Growth
With the cost of capital increasing, buyers are getting more selective.
April 30, 2023
Buyers Take Fresh Look at Capital Strategy
Industry Buyers Take Fresh Look at Capital Strategy
With the cost of capital rising, acquisitive brokerages and those trying to fund...
April 30, 2023
For Potential Sellers, What Matters Most Is Growth
Brokerage Ops For Potential Sellers, What Matters Most Is Growth
With the cost of capital increasing, buyers are getting more selective.
April 2, 2023
Anyone's Guess
Brokerage Ops Anyone's Guess
The strange economic environment makes 2023 M&A forecasting a crapshoot.
March 1, 2023
Very Active 2022, Considering…
Industry Very Active 2022, Considering…
2022 is likely to end up, after all announcements, as the second-strongest year ...
January 17, 2023
M&A Slowdown? Actions Speak Louder Than Words
Brokerage Ops M&A Slowdown? Actions Speak Louder Than Words
There’s still money for lattes and insurance acquisitions…for now.
December 1, 2022
Enough Capital for Another 6 Months
Brokerage Ops Enough Capital for Another 6 Months
M&A valuations are still strong, but there are cracks in the foundation.
November 1, 2022
Specialty Valuations Up
Brokerage Ops Specialty Valuations Up
M&A activity is still robust as specialty distribution transactions gain momentu...
September 29, 2022
Riding the Seesaw
Brokerage Ops Riding the Seesaw
Inflation and interest rates may hamstring acquirers.
September 1, 2022
M&A Market Continues Building Steam
Industry M&A Market Continues Building Steam
But will it last?
July 19, 2022
Borrower's Burden
Industry Borrower's Burden
The cost of money is increasing, and buyers may require sellers to bear some of ...
May 31, 2022
Borrower's Burden
Industry Borrower's Burden
The cost of money is increasing, and buyers may require sellers to bear some of ...
May 31, 2022
Buyers Still Hungry for Deals
Industry Buyers Still Hungry for Deals
Brokerages with diversified practice groups and modernized tech will be the most...
May 1, 2022
Slow but Set for Takeoff
Industry Slow but Set for Takeoff
Insurance brokerage has proven resilient through previous crises and may well ag...
April 1, 2022
Final Numbers for 2021 Set New Highs
Industry Final Numbers for 2021 Set New Highs
With late announcements, 2021 insurance brokerage M&A in the United States blew ...
February 28, 2022
Significant Momentum into the New Year
Industry Significant Momentum into the New Year
But don’t look for a repeat of 2021.
January 18, 2022
M&A Meteor Shower
Industry M&A Meteor Shower
As we approach the end of 2021, the M&A skies are alight with a record number of...
November 30, 2021
Fear of the Unknown
Industry Fear of the Unknown
There are five fears that may be driving the M&A marketplace.
November 1, 2021
Still Hot Through August
Brokerage Ops Still Hot Through August
Insurance mergers and acquisitions are up 15.5% from this time last year.
September 30, 2021
Consolidation Continues at Record Pace
Brokerage Ops Consolidation Continues at Record Pace
Specialty distributors are rising in the M&A deal counts.
August 31, 2021
The Taxman Cometh
Industry The Taxman Cometh
Between the COVID-19 comedown and the looming capital gains hike, M&A is revving...
July 20, 2021
Tax Increase Jitters
Brokerage Ops Tax Increase Jitters
Fears of potential U.S. tax increases cause more brokerages to consider a merger...
June 1, 2021
In Hindsight, Nothing Has Changed
Industry In Hindsight, Nothing Has Changed
An unprecedented M&A year in review
May 2, 2021
Flight to Quality
Brokerage Ops Flight to Quality
What are the options for quality, consultant-minded brokerages that need capital...
May 2, 2021
Resiliency Is Value
Industry Resiliency Is Value
With intermediaries averaging 5 percent EBITDA in 2020, buyers ready to ink deal...
March 26, 2021
Strong Start to 2021
Industry Strong Start to 2021
The insurance M&A market appears resilient to economic drag.
February 28, 2021
Not Crimped by COVID
Industry Not Crimped by COVID
Brokerage M&A in 2020 finished right on the heels of 2019.
January 15, 2021
Keeping Up with 2019
Industry Keeping Up with 2019
Despite political derailments, 2020 brokerage M&A deals are on track to mirror l...
November 23, 2020
A Rebound No One Expected
Industry A Rebound No One Expected
Insurance shops are consistently a good bet.
October 29, 2020
Chugging Along
Industry Chugging Along
Deal activity should increase through the end of the year, making up for second-...
September 24, 2020
Deals Resurging
Industry Deals Resurging
The total number of transactions, through July, however, still lags 2018 and 201...
August 25, 2020
COVID Slightly Dampens Deals
Industry COVID Slightly Dampens Deals
While not as hot as 2019, the M&A market is still more active than just four yea...
May 31, 2020
M&A Markets Continue to be Fluid
Industry M&A Markets Continue to be Fluid
Beating 2019’s record-setting deal count seems unlikely, though new deals cont...
April 28, 2020
M&A Utopia
Industry M&A Utopia
Last year remained record-setting in brokerage M&A, and most signs point to more...
April 1, 2020
Flocking to Safety
Industry Flocking to Safety
Economic strength or weakness, PE loves brokerages.
March 1, 2020
I'm Right, You're Wrong
Brokerage Ops I'm Right, You're Wrong
When we stop listening to others’ opinions and accepting new ideas, we miss ou...
November 26, 2019
Succession Planning Isn't Enough
Brokerage Ops Succession Planning Isn't Enough
What do you really want in life? If you haven’t considered this question as yo...
October 29, 2019
A Hardening Market Should Inspire Change
Industry A Hardening Market Should Inspire Change
The status quo is evolving. What are you going to do about it?
September 27, 2019
Price Isn't Everything
Brokerage Ops Price Isn't Everything
Don’t lose sight of strategic alignment when you find a nicely priced deal.
August 14, 2019
The Deal Before the Deal
Industry The Deal Before the Deal
Let's take a deeper dive into the anatomy of a letter of intent.
July 10, 2019
Winter Is Coming
Industry Winter Is Coming
Where will we turn when the economy stops expanding?
May 24, 2019
Keeping the Dream Alive
Brokerage Ops Keeping the Dream Alive
Don’t buy your own fake news.
April 19, 2019
Too Big to Fail?
Industry Too Big to Fail?
Will the bubble burst or is the M&A frenzy with high multiples, generous valuati...
Sponsored By MarshBerry March 29, 2019
You Own the Business—So Deal!
Brokerage Ops You Own the Business—So Deal!
If a deal “feels right,” shop around.
March 27, 2019
Money to Burn
Brokerage Ops Money to Burn
Reinvest in your firm while the economy is hot.
March 1, 2019
The Bubble Continues to Get Bigger
Industry The Bubble Continues to Get Bigger
And a burst is nowhere in sight.
January 18, 2019
Go Big or Get Out?
Brokerage Ops Go Big or Get Out?
Just because everyone around you is getting bigger doesn’t mean you should sto...
November 29, 2018
Listening for Cues
Industry Listening for Cues
Learn from what others are saying and doing.
October 31, 2018
Are You a Blockbuster or a Netflix?
Brokerage Ops Are You a Blockbuster or a Netflix?
Read my letter to the brokerage owner of the future and see how being proactive,...
September 27, 2018
Asking for a Friend
Industry Asking for a Friend
There are some questions you may be apprehensive to ask in public, but the answe...
August 30, 2018
Where Do You Stand?
Brokerage Ops Where Do You Stand?
It is imperative you understand where you fit in the competitive landscape in th...
July 16, 2018
Shift Your Mindset
Brokerage Ops Shift Your Mindset
Escape the guilt of why you sell.
May 22, 2018
Buyers Don’t Know It All
Brokerage Ops Buyers Don’t Know It All
Sellers who focus on driving value can leverage their skill sets and realize mor...
April 30, 2018
New PE Players
Industry New PE Players
Private capital is more diverse, more long-term and more interested in the insur...
Sponsored By MarshBerry March 29, 2018
Who’s Buying?
Industry Who’s Buying?
Following another record M&A year, we are seeing a plot twist with new private c...
March 27, 2018
Father Time Will Prevail
Brokerage Ops Father Time Will Prevail
A staggering amount of supply was evident in 2017.
February 28, 2018
When Will the Madness End?
Industry When Will the Madness End?
Deal count and price continued to rise in 2017.
January 23, 2018
Raging
Industry Raging
The market is flush with record activity.
November 30, 2017
What’s Your Value: Good or Great?
Industry What’s Your Value: Good or Great?
Even in this robust M&A market, the highest value appears to still be reserved f...
October 27, 2017
Motivationally Speaking
Industry Motivationally Speaking
Examine others’ incentives when deciding your future.
September 29, 2017
Talk Isn’t Cheap
Industry Talk Isn’t Cheap
Consistent, strategic communication delivered with purpose can make a good deal ...
August 31, 2017
How to Maximize Your Greatest Asset
Industry How to Maximize Your Greatest Asset
Run your business as if it were for sale.
July 18, 2017
Face Value
Industry Face Value
Look beyond opinion when vetting deals.
May 25, 2017
What Can You Offer?
Industry What Can You Offer?
Buyers want to see more than revenue to find out what your agency is really wort...
April 26, 2017
The Canary in the Coal Mine
Industry The Canary in the Coal Mine
As the M&A market continues to surge, euphoria remains. But for how long?
March 29, 2017
Give Them Their Due
Industry Give Them Their Due
When you trust the firm on the other side of the table, you can be tempted to ju...
February 27, 2017
Wait and See
Industry Wait and See
Sellers are scaling back on defensive actions and are hanging tight for now.
January 30, 2017
Change Gamer
Industry Change Gamer
Look inside to grow outside.
November 28, 2016
Know Your Role
Industry Know Your Role
Distinguish between a “partner” and a “leader” so you can expand ownersh...
October 24, 2016
Speak Up—and Be Honest
Industry Speak Up—and Be Honest
Transparency builds strong businesses and attracts the best buyers.
October 6, 2016
Halt the What-Ifs
Industry Halt the What-Ifs
When wrestling with what to do next with your agency, press pause and set aside ...
August 28, 2016
Poll the Audience
Industry Poll the Audience
Key takeaways from conversations with independent agency buyers and sellers
July 27, 2016
Don’t Discount the Touchy-Feely Side of M&A
Industry Don’t Discount the Touchy-Feely Side of M&A
Culture is everything. Without it, the numbers just don’t matter.
July 26, 2016
Don’t Wait for the Cross-Court Pass
Brokerage Ops Don’t Wait for the Cross-Court Pass
Like ballers who don’t play defense, buyers who don’t put the time in with s...
May 2, 2016
Competing for a Shot
Industry Competing for a Shot
How Buyers Are Standing Out in a Seller’s Market
March 29, 2016
Real Job Security
Brokerage Ops Real Job Security
Once you sell, what security do you have?
February 23, 2016
As Forecasted, 2015 Was a Banner Year
Industry As Forecasted, 2015 Was a Banner Year
But 2016 could be the year of uncertainty.
February 1, 2016
Grow at All Costs
Industry Grow at All Costs
A Contrarian’s View of Wealth Creation
November 24, 2015
Seller Options
Industry Seller Options
Know the advantages and disadvantages of looking at one potential buyer rather t...
October 30, 2015
Private Equity’s Secret Sauce
Industry Private Equity’s Secret Sauce
Here’s why private equity is driving crazy valuations.
September 23, 2015
Value Added
Industry Value Added
Preparing for your future will also improve your value.
August 27, 2015
The Fireworks Are Not Over
Industry The Fireworks Are Not Over
Billions of dollars are pouring into the M&A marketplace.
July 27, 2015
What Are You Worth?
Industry What Are You Worth?
Probably not as much as you think; and that will determine your destiny.
June 1, 2015
Before Selling, Purge
Industry Before Selling, Purge
The market is as hot as ever, seeking sellers. Be ready by cleaning house.
April 29, 2015
No One Is For Sale, Until the Day You Are
Industry No One Is For Sale, Until the Day You Are
Do you have a choice to sell? Many don’t.
March 25, 2015
What Do You Value Most?
Industry What Do You Value Most?
Use that information when deciding on an acquisition or merger partner.
February 23, 2015
More Than 300 Deals Completed in 2014
Industry More Than 300 Deals Completed in 2014
And we’ve got good vibes for 2015 as well.
January 22, 2015
Being Better Than Average
Industry Being Better Than Average
The economy spurs deals, nearing 2012 record.
December 1, 2014
Ask for Directions
Brokerage Ops Ask for Directions
A good M&A advisor will show you the way and drive the process.
October 27, 2014
Milking the Meetings
Brokerage Ops Milking the Meetings
Buyers offer a lot of market intelligence, so don’t slam the door in their fac...
September 30, 2014
Staying on the Same Page
Brokerage Ops Staying on the Same Page
Talk to your partners. Create your timeline. Understand where you all want to go...
August 28, 2014
Prime Time
Brokerage Ops Prime Time
How you announce a transaction can prime the pump or harm the deal.
July 17, 2014
Credibility Counts
Industry Credibility Counts
Name recognition can go a long way in recruiting a seller.
May 28, 2014
Go East, Young Man
Industry Go East, Young Man
Demand is so strong, buyers seek M&A opportunities overseas.
April 25, 2014
AssuredPartners Reaches the Top
Industry AssuredPartners Reaches the Top
The M&A roller coaster this year has the inevitable twists and turns.
April 1, 2014
Coming Out Swinging
Industry Coming Out Swinging
January numbers punch a hole in 2013 monthly figures.
March 1, 2014
2013 M&A Trend Ends Strong
Industry 2013 M&A Trend Ends Strong
Deals are already spilling over into the new year.
January 28, 2014
A Year to Remember…and Forget
Industry A Year to Remember…and Forget
A historically low deal count seems to be in the works for 2013.
November 25, 2013
What Fourth Quarter Holds
Industry What Fourth Quarter Holds
Confie Seguros paces market through first three.
October 30, 2013
A Low-Scoring Season for the M&A Gridiron
Industry A Low-Scoring Season for the M&A Gridiron
Gallagher makes strategic moves, both foreign and domestic.
October 1, 2013
Hub Makes a Big Splash
Industry Hub Makes a Big Splash
New PE enters the market via Hub and Risk Strategies. NFP completes privatizatio...
September 1, 2013
Mediocre Month Trumped by Big Announcement
Industry Mediocre Month Trumped by Big Announcement
Brown & Brown Steals the Spotlight
July 15, 2013
A Seller’s Market
Industry A Seller’s Market
More buyers means better prices for sellers. Half did no deals in 2012.
June 29, 2013
The Waiting Game
Brokerage Ops The Waiting Game
Sellers continue to play a game of hide and seek.
May 19, 2013
Private Equity Leading the Way
Industry Private Equity Leading the Way
National brokerages expected to enter the fray soon.
April 12, 2013
No 2012 Spillover
Industry No 2012 Spillover
Buyers are looking to rebuild their pipelines depleted by heavy December activit...
February 27, 2013
A Race to the Fiscal Cliff Finish Line
Industry A Race to the Fiscal Cliff Finish Line
An unprecedented December caps a record year.
January 29, 2013
2012 Deals Close In on 2011
Industry 2012 Deals Close In on 2011
A flurry of M&As closed in the past month, and more are predicted through year...
December 11, 2012
A Debate Will Always Continue
Industry A Debate Will Always Continue
Which side are you on?
November 11, 2012
Market Temperature: Steamy
Industry Market Temperature: Steamy
Court Decision Doesn’t Dampen Benefits Enthusiasm.
September 11, 2012
Rounding Second: A Whole New Ballgame
Industry Rounding Second: A Whole New Ballgame
Independent agencies are batting .520 for the season.
August 11, 2012