Background
Eight years ago, we began working with an independent broker, they were ambitious and hungry to grow.
They understood that in order to reach their growth aspirations they needed to invest in people; and attract new talent that would not only increase their team’s bandwidth, but also boost their business development model.
However, at the time they didn’t have the budget required to recruit an additional Account Executive, so they approached their bank and asked for a loan.
Our solution
We worked closely with the broker to understand their culture, values and business model. Paying close attention to their business strategy and objectives we were able to identify a selection of Account Executives that would be the perfect fit for them.
We then worked with the brokerage to make sure their offering, and remuneration package including financial and benefit rewards would be attractive to these individuals. Finally, we made sure the interview process was slick, simple and efficient.
Did their investment in people pay off?
It more than paid off…
The new Account Executive professional built a book of business worth over £330K in the eight years that followed, adding a cumulative profit of £500K during that time.
Recently the broker approached IDEX again, this time to use our M&A expertise, to assist in the sale of their business. We used our knowledge of the market in order to select potential buyers who would deliver the right price and right home for our client’s business and team.
They have now successfully sold their company and the profitable business built by the new Account Executive has contributed to a higher sale price at the time of exit. In fact, this strategic hire has increased their sale value by over £1 million!
Had they not taken the risk and understood the value of investing in new talent, this wouldn’t have been achieved.
For more information about our Broker Growth Programme or M&A services, click the 'Find out more' button below.
