Like most professional services firms, much of an insurance agency's value lies in its customer base, workforce, and the intangible factors that drive growth and margin, but that doesn't mean all insurance agencies are created equal. The recurring revenue streams, low fixed asset intensity, and favorable financing characteristics have spurned industry consolidation. Private equity investors, financial institutions, and other participants have created a robust transaction environment. Join Lucas Parris of Mercer Capital for a review and in-depth case study of the valuation methodologies and drivers of value for insurance agencies and brokerages.