MarshBerry Platform & First Choice Agents Alliance Combine to Create Insurance Industry’s Most Robust Aggregator

MarshBerry Platform is pleased to announce the completion of its merger with First Choice Agents Alliance (FCAA), one of the nation’s top insurance networks. MarshBerry, a leading investment banking and consulting firm serving the Insurance Distribution and Wealth Management industries, initially launched MarshBerry Platform in 2019. Led since inception by David Soforenko, MarshBerry EVP, MarshBerry Platform was intentionally designed as an exclusive Connect member offering that went beyond simple aggregation to help firms accelerate organic growth. MarshBerry Platform and FCAA, each on their own, represent two of the nation’s leading aggregators. The strategy brings together resources, scope and scale to further strengthen and position them as one of the insurance brokerage industry’s top agency partnerships. As a result, MarshBerry Platform and FCAA will market together as FirstChoice. The terms of the transaction were not disclosed.

 “MarshBerry is recognized for our client-centric mindset, industry knowledge and the ability to help create economic value for our clients. The FCAA business model fully aligns with these principles and growth strategies of MarshBerry Platform. We are excited to bring together the finest of what both firms offer in best practices, technology, thought leadership, assets, broader access to carrier partners and importantly the ability to help even more clients regardless of size. Aligning FirstChoice’s name recognition under the MarshBerry brand empowers insurance brokers of all sizes to benefit from the financial stewardship that enables them to play bigger and retain firmer control of their independence,” said John Wepler, MarshBerry Chairman & CEO.

FirstChoice will offer the complete suite of aggregation solutions with customized offerings for independent insurance agencies and brokers of all sizes. The combined company serves clients with less than $1M in annual revenue to more than $1 billion in annual revenue.

“This is a transformational deal for all members,” said Mike Griffin, Chief Executive Officer of FCAA. “We continually strive to diversify and deepen offerings and solutions to meet the business lifecycle needs of our members. The collective resources and synergies are so compelling, we look forward to FirstChoice not only dominating the agency partnership and aggregation space but redefining it. We are focused on ensuring a smooth integration for members and staff, led by Keith Captain, FirstChoice’s President. We are thrilled to be joining efforts with MarshBerry.”

The transaction marks another strategic action 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 one example of that intentional growth and adds a presence in the SE United States with an office in FCAA’s home state of North Carolina.

For more information regarding MarshBerry Platform, FCAA, or FirstChoice products and services please contact Executive Vice President David Soforenko, at David.Soforenko@MarshBerry.com or call 440.220.4101 or contact Keith Captain, FirstChoice President at keith@fcaalliance.com or call 704.831.8708.

MarshBerry – Helping Clients Learn, Improve & Realize Value

Founded in 1981, MarshBerry serves the insurance distribution and wealth management industries including insurance agents & brokers, specialty distributors, private equity firms, and wealth management firms. MarshBerry’s industry-specific services help clients build, enhance and sustain value through: Merger & Acquisition Advisory, Debt & Equity Capital Raising, Financial Consulting, Market Intelligence & Benchmarking, Organic Growth Consulting, Connect –Executive Peer Exchange, and Platform Aggregation. Learn more at www.MarshBerry.com.

About FCAA

First Choice Agency Alliance is a Charlotte, NC based company founded in 2015 as a wholesale outlet for Nationwide Captive agents looking for commercial market access. In 2017, the company evolved to an aggregation network to provide direct carrier access, strategic planning, education, and technology to independent insurance brokers. Learn more at www.joinfcaa.com

Atlas Merchant Capital

Atlas Merchant Capital LLC was founded to participate in compelling market opportunities in the financial services sector. Based in New York and London, Atlas Merchant Capital was founded by Bob Diamond and David Schamis, who together with their partners form a complementary partnership with extensive operating and investing expertise across the financial services landscape. Further information is available at www.atlasmerchantcapital.com