Start-up Broker Opportunity: the traditional Appointed Representative route
Our start-up broker opportunity is for those aspiring account executives who want to do more with their career and want to start their own insurance brokerage.
This route sees the account executive resigning from their employed role and joining Gauntlet Group immediately as an AR broker partner, if they have been offered that opportunity. Such an offer would follow meetings with the Gauntlet Appointed Representative Network team, at which a business plan would be reviewed. Gauntlet has very high standards when it comes to its recruitment but professional account executives, with a solid business plan and commitment to client service excellence, typically gain an offer.
What about my covenant?
The account executive – who typically has a minimum of 4 years’ experience if they are to be accepted as a Gauntlet appointed representative – may well be initially restricted by the terms of a covenant.
However, that does not prevent them from taking advantage of Gauntlet’s lead generation programme and online quote and buy facility. They can also actively find new clients and get their website presence up and running, with Gauntlet’s help.
Starting any new business needs energy and commitment but the Gauntlet team are with you all the way and there is a lot of peer support within the network, from appointed representatives who have been in the new start-up broker’s shoes.
Support for account executives starting their own brokerage
Taking advantage of the opportunity to attend our annual conference will help you tap into this support system. We also arrange our Springboard event, in the first quarter, and our Juncture event, at the half-year point, to help inspire your sales activities and allow you to hear from leading insurers.
With a broker support manager by your side, guiding your early steps, you should be able to demonstrate why you were a highly successful insurance account executive and how you will be a successful independent broker.
Who is this route into becoming an appointed representative right for?
This route towards becoming a Gauntlet appointed representative is a higher risk but greater reward strategy for an account executive wishing to become their own insurance boss.
It requires you to take a bit of pain, in terms of immediate loss of income at the very start of your journey, but back yourself to quickly bring the clients in. If you do, you will benefit from the best possible commission split arrangements with Gauntlet Group, which will be your committed business partner.
What services will I get in return for the commission split?
In return for the commission split, you will receive the support that your money probably couldn’t afford to buy as a start-up. You will get:
- First-class access to market, with around 210 insurer schemes and facilities available to you
- Acturis IT systems – which have been specially tailored, to help Gauntlet appointed representatives grow their sales potential
- Full FCA compliance, with our compliance team handling FCA reports for you
- Broking support, if you need it. We can do all of your broking, some of your broking or none of it. It’s up to you.
- Professional Indemnity insurance
- Full accounting and money-handling services
- Generous commission on the business transacted
- Training sessions and insurer webinar opportunities
- Administrative services that take all the paperwork off your shoulders
- Lead-generation support and sales support from our direct sales team
- Marketing support
- Inspiration at three network-wide, sales-boosting events per year
- The benefits of Gauntlet being a Brokerbility member
- An exit route, through sale to Gauntlet Group, which you can discuss, whenever the time comes
- An opportunity to become part of the local broker renaissance and gain a place on our consumer-facing local broker map.
How to take the next step to starting your own insurance broking business
If you are an account executive keen to establish your own start-up insurance brokerage, please get in touch. Email NigelLaw@GauntletGroup.com for initial discussions. More information can also be found in our resources area.
