Patrick Field
Partners Patrick Field and P.J. Miller were interviewed by Insurance Business America to discuss the agency reaching the 150-year milestone, an accomplishment few independent insurance agencies can tout. As noted in the article, Wallace & Turner has solidified itself as a hallmark business in Springfield, enjoying decades of community involvement and growth.
P.J. Miller
“The agency has a long history of being very active and supportive in the local community, both in terms of dollars and in terms of time,” Patrick told Insurance Business. “I was raised on the theory that Wallace & Turner will only do as well as the community it works and does business in. Anything we can do to help the community certainly helps us as well. Most of our people currently sit on a local non-profit board or have sat on a non-profit board in the past, and we certainly encourage all employees to get involved in local community initiatives.”
Wallace & Turner’s community-centric culture has been critical in the agency’s long lifespan. P.J. explained: “A lot of our clients are good friends of ours, and a lot of them have been with us for 30, 40, 50, even 60-years. Just as Patrick and I are generationally involved with Wallace & Turner, so are a lot of our clients. It’s been really exciting to watch our local clients transition, like us, through time and generation.”
The Ohio agency’s 150th anniversary is even more impressive considering the huge uptick in agency consolidation over the past few years. Given the agency’s strong financial stability, consistency in service, range of products (the agency is approximately 50:50 for personal and commercial lines, with a separate life & health department), and its consistent clientele, it could be considered a prime target for acquisition. However, both Field and Miller said this is not on the cards.
“[L]ocal servicing doesn’t exactly fit the big broker business model. The people here expect local service, they expect camaraderie, and they expect friendship – all things we’ve been able to provide at Wallace & Turner,” Patrick said.