Independent insurance brokers are under more pressure than ever. Compliance requirements keep growing, underwriters want more data and reporting, clients expect faster service, and staff recruitment, training and retention is a challenge.
Independent broker-owners wear many hats - adviser, business manager, compliance officer, IT support and succession planner - often without the systems and support larger brokerages like Rothbury take for granted.
Rothbury’s partnership programme has been designed to respond to these increasing pressures, offering independent brokers a way to retain their identity and client relationships while gaining access to the scale, systems and operational backing necessary to compete in a more complex market.
Rather than pushing broker-owners towards a straight sale, the Rothbury programme is flexible - giving broker-owners partnership options to suit where they are in their business journey.
“Partnership conversations in our market have traditionally started with a transaction,” said Rothbury Managing Director Roger Abel. “We’re approaching it differently - starting with understanding and fit.”
“What’s changed is the need for flexibility,” he said. “Many owners want to understand their options before making any decision, rather than be pushed toward a single path from the outset.”
“Life events happen – marriage, death, retirement – and those life events can cause people to think about selling their broking business. Or the trigger may be the loss of a key staff member or client, or the more prescriptive regulatory environment they’d rather not have to face alone.”
There is always uncertainty when entering into the unknown, but once we came into the Rothbury family, we’ve been really impressed with the integration and support services provided, and the genuine connection we’ve made with the wider Rothbury team.
Blair Dyer
Former Professional Liability Manager, Austinsure
Senior Financial Lines Broker, Rothbury
Rothbury’s partnership programme has been designed to reduce that uncertainty - giving broker-owners clarity and support as they move into partnership.
Rothbury’s programme offers five partnership pathways ranging from minority investment and shared ownership through to tailored hybrid arrangements and full succession planning.
“These are designed to reflect the different stages broker-owners are at - whether that’s preserving what they’ve built, growing within a larger structure, sharing responsibility, or planning for succession over time.”
“We want and like local shareholding,” Abel says. “We have local shareholders in most of our branches, which reflects our commitment to having people on the ground with an equity stake.”
“There are people out there in their 20s, 30s and 40s who are keen to be business owners, and we can help finance people to do that.”
What appealed to me was the ability to keep building the business while having the backing and scale of a larger organisation. It’s allowed us to grow while still staying connected to our clients and how we operate.
Conrad Shanly
Head of Enterprise Risk & Insurance Solutions, Rothbury
(formerly business owner following Rothbury partnership)
Behind each partnership pathway sits the scale and capability required to support it – helping to reduce the operational burden many broker-owners carry.
That includes access to established systems and operational support, allowing broker-owners to spend more time on advice, client relationships and growth.
“There’s a lot more complexity in running a brokerage today than there was even five years ago,” Abel said. “Many smaller firms carry that burden themselves. What we provide is the backing that helps ease that pressure.”
Rothbury’s broking platform, SWIFT, has been developed by brokers for brokers and continues to be modernised to support a rapidly evolving market.
“One of the biggest concerns for brokers is the challenge of moving their businesses on to another broking system. We have a lot of experience in managing that transition successfully.”
While the programme represents a new way of bringing Rothbury’s approach together, it builds on many years of successful partnerships and acquisitions with independent brokers.
Rothbury, which marked its 75th last year, now has more than 500 staff across 23 locations nationwide and services over 53,000 clients. The business is part of Steadfast Group, Australasia’s largest general insurance broker network.
Abel said scale is becoming increasingly important in insurer relationships - helping to reduce the day-to-day pressure and support more consistent outcomes for clients. He said the partnership model reflects the reality that many broker-owners are not looking for a single, immediate exit.
“These aren’t one-off decisions,” he said. “They are pathways that can evolve over time as circumstances and priorities change.”
For some broker-owners, this may take the form of a staged succession and ownership transition, allowing them to gradually step back while maintaining continuity for staff and clients.
Others may look to share financial and operational responsibility while remaining actively involved in the business.
“My situation doesn’t fit one box - I need flexibility without pressure,” is one of the common concerns Rothbury hears from brokers exploring partnership discussions.
Abel said reducing disruption was a major focus. “One of the biggest concerns is what happens after day one.”
“For me, a real measure of success is that someone who’s sold their business can still walk down the road, speak to a long-term client and know they’re being just as well looked after.”
Rothbury also believes its New Zealand decision-making structure differentiates it from some larger offshore-backed consolidators.
“We’re a New Zealand-founded business with local decision-making, which means partnership discussions and decisions are made here, in context,” Abel said.
The programme also supports internal succession and staff ownership, helping brokerages to retain key people and preserve long-standing client relationships.
Abel said the approach also reflects a longer-term view of the industry, creating opportunities for the next generation of broker-owners to build equity and ownership over time - benefiting both individuals and the broader strength of the business.
“This is about helping broker-owners understand their options and decide what’s right for them, in their own time,” he said.
“There’s no obligation to proceed and no expectation to move quickly – just a structured way to explore what partnership could look like.”
“We’re always focused on how we support and nurture people within Rothbury,” he said.
That focus - on people, clients and continuity - sits at the heart of how Rothbury approaches partnership in practice.
Explore the partnership pathways at Rothbury’s Partner Hub: evolve.rothbury.co.nz
