Agency Intelligence

Agency Intelligence


Agency intelligence podcast, is your top insurance podcast with two unique series that let you hear from and learn from both agency owners and industry influencers. Agents Influence is your weekly guide to the latest and greatest thought leaders the industry has to offer. Agency Intelligence covers real data from real agents in real agencies.

In this episode of Agents Influence podcast, host Jason Cass interviews Erik Garcia, CFP®, owner of Garcia Insurance Services and Garcia Financial Group, and host of the Stuff About Money They Didn’t Teach You In School podcast. 

Episode Highlights:

  • Erik shares that aside from hosting the Stuff About Money They Didn’t Teach You In School podcast, he also spends 90% of his time on financial planning and investment management, with 50% of that time working directly with insurance agency owners and related professionals. (2:54)
  • Erik discusses two ways agency owners make money – through dividends/profit distributions and through capital appreciation, while also paying themselves based on their role in the agency. (7:21)
  • Erik explains the importance of having mentorship relationships in various aspects of life, as exemplified by the biblical characters Paul, Timothy, and Barnabas. (15:02)
  • Erik mentions that aligning company culture with core values and ensuring that the desired culture is manifested within the organization is important. (18:32)
  • Erik shares that he discovered his company’s values by asking his staff through a questionnaire, and based on the responses, he developed core values centered around professionalism, knowledge, empathy, and creating a family-like atmosphere. (21:03)

Key Quotes:

  • “As agency owners, there are two ways we make money in this space… Number one is through dividends or distributions of profit, right? If I’m an owner, and whatever I own is profitable and there’s money to distribute, I take money, right? The second way we make money as owners is through capital appreciation.” – Erik Garcia, CFP®
  • “As owners, we should pay ourselves for the work that we do. And then we should be motivated to be profitable” – Erik Garcia, CFP®
  • “We’re a family and people sense that when they meet us and do business with us. They sense that we’re family, they sense it when they come in, they feel that we’re family. Our culture of family is a way that we can create a better memory for them a better experience for them. This is powerful stuff. This is my staff telling me, this is not me sitting in a room telling them what our values are. This is them telling me.” – Erik Garcia, CFP®

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