MarshBerry

What MarshBerry does

MarshBerry is a specialized investment banking and consulting firm exclusively focused on the insurance brokerage and wealth management industries, operating across North America and Europe. Founded in the 1980s and headquartered in Woodmere, Ohio, the firm has advised on 1,460+ M&A transactions with $35B+ in advised deal value (2012–2025) and was ranked the #1 M&A Sell Side Advisor for insurance brokerage by S&P Global Market Intelligence for 17 consecutive years (2008–2025), capturing roughly 25% of advised M&A deal flow in the vertical. MarshBerry was acquired by Lincoln International in Q4 2025 in Lincoln's largest deal to date; it had previously expanded internationally through the October 2023 acquisition of UK-based IMAS Corporate Finance LLP, and now operates alongside a combined network of 30+ offices across 14 countries with approximately 1,400 professionals.

MarshBerry's offerings are organized into four interlocking service lines: (1) Investment Banking, providing M&A advisory (buy-side and sell-side) and capital advisory across debt and equity sources including private equity, family offices, and pension funds; (2) Transaction Advisory, providing financial due diligence and Quality of Earnings analysis with 650+ projects completed since 2004; (3) Consulting, spanning valuations, strategic planning, sales and leadership development, and perpetuation planning across the ownership lifecycle; and (4) Networks—FirstChoice for independent insurance agencies and Connect for executive peer exchange. The proprietary Value Intelligence (VI) Portal underpins these services with benchmarking data from 1,700+ firms representing $110B+ in premium volume, supporting 3,850+ valuations completed since inception.

MarshBerry generates revenue primarily through professional services fees—success-based M&A advisory fees, retainers, and project-based consulting engagements—supplemented by subscription-recurring revenue from market intelligence (VI Portal) and network memberships (FirstChoice). The firm employs 101–250 professionals, including 190+ specialized consultants holding 200+ licenses and designations. Regulatory entities include MarshBerry Capital, LLC (FINRA/SIPC member) and IMAS (FCA-regulated, FRN: 553889). Distribution is direct and enterprise-led through a field-sales model spanning US offices (Ohio, California, Michigan, New York, Texas), European offices (Amsterdam, UK, plus country presence in Germany, Norway, and Denmark), and a Dubai office added in 2025.

Name

MarshBerry

Legal name

Marsh, Berry & Company, LLC

Website

https://marshberry.com

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

101–250 employees

Short description

MarshBerry is a specialized investment banking and consulting firm providing M&A advisory, capital raising, due diligence, and market intelligence services exclusively to insurance brokerages and wealth management firms across North America and Europe.

Ownership category

akta.pro rank

Product category

Investment Banking & Management Consulting

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282), Services-Management Services (8741)

akta.pro primary industry

M&A Advisory (Buy-side/Sell-side) (BPAHADAC)

akta.pro secondary industry

Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

Keywords

• Investment banking
• M&A advisory
• Insurance brokerage consulting
• Wealth management consulting
• Financial due diligence

Headquarters

HQ city

Woodmere

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Investment Banking & M&A Advisory: MarshBerry provides M&A advisory services including sell-side representation, buy-side advisory, and capital raising solutions. Revenue is generated through advisory fees, typically success-based fees tied to transaction completion or retainers.
2. Strategic Consulting Services: Business planning, valuations, perpetuation planning, and strategic consulting engagements for insurance companies and wealth management firms.
3. Market Intelligence & Data Analytics: Proprietary market intelligence, benchmarking reports, and custom research analytics provided to insurance and wealth management firms.
4. Networks (FirstChoice): FirstChoice, a MarshBerry Company, provides aggregation services and network benefits to independent insurance agencies seeking scale and resources while maintaining independence.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

MarshBerry is a global investment banking and consulting firm that provides M&A advisory (sell-side and buy-side), capital raising, due diligence, quality of earnings analysis, valuations, strategic consulting, perpetuation planning, and proprietary market intelligence exclusively to insurance brokerages and wealth management firms. Its service lines are bundled into Investment Banking, Transaction Advisory, Consulting, Networks (FirstChoice and Connect), and Market Intelligence offerings including the Value Intelligence (VI) Portal.

Product overview

MarshBerry is a global investment banking and consulting firm operating as a platform-plus-modules structure. The core offering comprises Investment Banking (M&A Advisory for buy-side and sell-side, Capital Advisory) and Consulting (Valuations & Opinions, Strategic Consulting, Sales & Leadership Development, Perpetuation Planning), augmented by Networks (Connect peer exchange and FirstChoice agency network) and a proprietary Market Intelligence platform including the Value Intelligence (VI) Portal. The firm operates across North America and Europe, with a recent Q4 2025 acquisition by Lincoln International.

Differentiator

Problem solved

Functional benefit

Brands

• FirstChoice: A MarshBerry Company providing a network for owners of insurance agencies focused on talent development, strategic planning, and business agility
• Connect
• VI Portal

Products and services

• Investment Banking M&A advisory (buy-side and sell-side) and capital raising solutions (debt and equity) connecting clients with private equity investors, family offices, pension funds, traditional banks, and non-bank financial institutions, tailored for insurance brokerages and wealth management firms.
• M&A Advisory Services Full-lifecycle mergers and acquisitions advisory covering strategy, valuation, due diligence, deal structuring, buyer/seller representation, and post-closing integration for firms looking to buy or sell in the insurance distribution and wealth management markets.
• Transaction Advisory Diagnostic and confirmatory financial due diligence and Quality of Earnings analysis providing buyers with insights into acquisition targets, including revenue testing, working capital analysis, risk assessment, and deal protection provisions.
• Consulting Business planning and consulting services for insurance companies and wealth management firms covering valuations, strategic planning, sales and leadership development, and perpetuation planning across all stages of the ownership lifecycle.
• FirstChoice Network

Quantifiable outcome

• 1,460+ total M&A transactions advised since 1999
• +3 more outcomes

Named customers16 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• FirstChoice (Cara Partnership)coreStrategic or Co-development Partner · 7 November 2025Cara announced a strategic partnership with FirstChoice, a MarshBerry Company, to provide its AI platform to FirstChoice's agency network in the United States. The collaboration aims to enhance operational efficiency, reduce errors, and drive growth for independent insurance agencies through AI-powered technology solutions.
• IMAS Corporate Finance LLPcoreStrategic or Co-development Partner · 11 October 2023MarshBerry acquired IMAS Corporate Finance LLP in the UK, expanding its international footprint and creating a significant presence in Europe and North America. IMAS operates in the UK and Middle East markets and trades as MarshBerry in the UK under FCA regulation (FRN: 553889).

Scale indicators12 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Marsh McLennan: Marsh McLennan is the largest global insurance brokerage and risk advisory firm; while not a direct M&A advisory competitor, it sits at the top of the same industry value chain MarshBerry serves and influences agency consolidation dynamics.
• Mercer Advisors: Mercer Advisors is a national RIA and wealth management firm that both competes for advisory engagements and acts as a serial acquirer of wealth management firms — overlapping with MarshBerry's wealth management M&A practice.
• Brown & Brown: Brown & Brown is a major U.S. insurance brokerage and frequent acquirer; it represents both an industry incumbent and a counterparty-side client for MarshBerry's buy-side and capital advisory work.
• HUB International: HUB International is a large North American insurance brokerage that is both a frequent client and a strategic acquirer of agencies in MarshBerry's transaction universe, providing both overlap and demand for MarshBerry's advisory services.
• Aon plc: Aon is a global professional services and insurance brokerage firm whose M&A advisory and corporate development activities intersect with MarshBerry's market at the upper end of the insurance brokerage size spectrum.

Direct peers

• Reagan Consulting: Reagan Consulting is a management consulting firm serving the insurance distribution industry, offering benchmarking, strategic planning, and growth consulting directly comparable to MarshBerry's consulting and Market Intelligence practices.
• DeVoe & Company: DeVoe & Company is a buy-side M&A advisor focused on RIAs and wealth management firms, directly overlapping with MarshBerry's wealth management M&A advisory segment and target client base.
• OPTIS Partners: OPTIS Partners is a Chicago-based investment bank specializing in M&A advisory for insurance brokerages and agencies. It is the most direct head-to-head competitor to MarshBerry in U.S. insurance distribution M&A.
• Rotor Capital LLC: Rotor Capital provides sell-side M&A advisory and capital raising to insurance brokerages and other financial services firms, closely mirroring MarshBerry's core service offering in the same end market.
• Calyx Capital Group: Calyx Capital provides M&A advisory and capital raising services to insurance agencies, brokerages, and financial services firms, overlapping with MarshBerry's sell-side and capital advisory offerings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/marshberry
• Instagraminstagram.com/marshberry_inc
• Xx.com/MarshBerryInc
• Facebookfacebook.com/MarshBerry

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MarshBerry