Baker Welman Brown Insurance & Financial Services

What Baker Welman Brown Insurance & Financial Services does

Baker Welman Brown Insurance & Financial Services is an independent insurance and financial services agency founded in March 1939 by Charles B. Baker, J. C. Welman, and T. A. Brown, Jr., headquartered in Kennett, Missouri at 204 St. Francis Street. The agency is privately held under long-term family ownership, with current President Charlie Brown, and operates as a licensed independent agency representing 50+ insurance carriers across five states (Missouri, Arkansas, Tennessee, Mississippi, and Texas). It is affiliated with Trusted Choice for brand and technology resources and with Investment Planners, Inc. (a FINRA/SIPC member broker-dealer) for securities, retirement, and estate planning services.

The firm's product portfolio spans four core lines: personal insurance (home, auto, life, health, Medicare, dental/vision/hearing); business insurance (business owners policy, general liability, commercial umbrella, workers compensation, farm, dealership, cyber); employee benefits (group health, voluntary benefits, 401(k), dental, vision); and securities and investments. Proprietary technology is limited to a website featuring interactive risk-assessment graphics and the BWB Expert Video Series for Medicare education, supplemented by a Client Center portal for policy servicing. There is no proprietary AI/ML, mobile app, or API platform.

Revenue is generated primarily through insurance commissions on personal and commercial lines (recurring on renewals), supplemented by licensing/override fees from securities products routed through Investment Planners, Inc. Pricing is quote-based and varies by policy. Go-to-market is sales-led, executed through licensed advisors via phone, email, website quote requests, and in-person consultations. The agency has grown historically through small book-of-business acquisitions in Southeast Missouri, most recently acquiring Droke Insurance Agency (Senath, MO) in 2022 and Powell Insurance Agency (Hornersville, MO) in 2019. The firm has been recognized as a Health Insurance Marketplace Circle of Champions recipient in 2023 and 2025 and earned a Premier Producer Gold award in 2023.

Name

Baker Welman Brown Insurance & Financial Services

Legal name

Baker Welman Brown Insurance & Financial Services

Website

https://bwbins.com

Company type

Private

Founded year

1939

Operating status

Operating

Headcount range

1–10 employees

Short description

Baker Welman Brown Insurance & Financial Services is a privately held, family-owned independent insurance and financial services agency founded in 1939, serving individuals, families, and businesses across Missouri, Arkansas, Tennessee, Mississippi, and Texas with personal, commercial, employee benefits, Medicare, and securities products.

Ownership category

akta.pro rank

Product category

Insurance Agency Services

NAICS

Insurance Agencies and Brokerages (52421), Portfolio Management and Investment Advice (523940)

SIC

Insurance Agents, Brokers & Service (6411), Investment Advice (6282)

akta.pro industry

PRIMARYFSAIAEAL

Individual Health Insurance Brokerage & Distribution

Financial & Insurance/Insurance — Life & Health/Individual Health Insurance

SECONDARYFSAEACAG

Independent Broker-Dealer / Registered Representative Networks

Financial & Insurance/Financial Advisory, Brokerage & Intermediation/Securities Brokerage (Retail & Institutional)

SECONDARYFSAIAKAB

Standalone Hospital Indemnity Insurance

Financial & Insurance/Insurance — Life & Health/Critical Illness & Hospital Indemnity Insurance

SECONDARYFSAIAIAA

Individual Disability Income Insurance (Non-Group)

Financial & Insurance/Insurance — Life & Health/Disability Income Insurance (Short- & Long-Term)

Keywords

• Independent insurance agency
• Personal insurance solutions
• Commercial insurance coverage
• Employee benefits programs
• Medicare insurance services

Headquarters

HQ city

Kennett

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Commissions: As an independent insurance agency, Baker Welman Brown earns commissions from insurance companies when policies are placed or renewed. Revenue is generated from both personal lines (home, auto, life, health) and commercial lines (business owners, farm, dealership, employee benefits).
2. Securities and Investment Services: Securities and investment advice offered through affiliation with Investment Planners, Inc. (FINRA/SIPC member). Services include annuities, IRAs, 401(k) plans, financial planning, estate planning, and various investment products.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Baker Welman Brown is an independent insurance agency that places personal, commercial, and Medicare insurance policies with 50+ carriers on behalf of clients. The firm also brokers employee benefits programs and offers securities and investment services through an affiliated FINRA/SIPC broker-dealer. Operations are conducted via licensed advisors serving individuals, families, and businesses across five states from the agency's Kennett, Missouri headquarters.

Product overview

Baker Welman Brown Insurance & Financial Services is an independent insurance agency offering a comprehensive suite of insurance and financial solutions. The agency provides Personal Insurance (home, auto, life, health), Business Insurance (owners policies, general liability, commercial umbrella, farm, dealership), Employee Benefits (group health, voluntary benefits, 401(k), dental, vision), Medicare solutions (Parts A-D, Advantage, supplement plans), and Securities & Investments. Operating since 1939, the agency represents multiple insurance companies and is partnered with Trusted Choice to offer choice and expertise across Missouri, Arkansas, Tennessee, Mississippi, and Texas.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Insurance

Quantifiable outcome

• Multiple insurance carrier options for optimal coverage matching

Named customers2 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

Feature2 records

Partnerships

Six partnerships are on record, tiered core and major.

• Trusted ChoicecoreStrategic or Co-development PartnerPartnership with Trusted Choice independent insurance agency network to simplify the insurance process. Provides access to resources, technology, and brand recognition while maintaining independence.
• Investment Planners, Inc.coreStrategic or Co-development PartnerSecurities and investment services offered through affiliation with Investment Planners, Inc., a FINRA and SIPC member broker-dealer. Enables provision of securities, annuities, IRAs, 401(k) plans, and comprehensive financial planning services.
• FINRAcoreOthersFinancial Industry Regulatory Authority membership through Investment Planners, Inc. Provides regulatory oversight and investor protection for securities services.
• SIPCcoreOthersSecurities Investor Protection Corporation membership through Investment Planners, Inc. Provides customer protection against broker firm failures.
• Health Insurance MarketplacemajorGTM or Marketing PartnerCertified Marketplace agency recognized with Circle of Champions and Premier Producer awards for enrollment performance.
• 50+ Insurance CarrierscoreChannel Partner/ Reseller/ DistributorAccess to 50+ insurance company products including personal lines (home, auto), commercial lines, Medicare, and employee benefits carriers.

Scale indicators3 records

Recent moves8 records

Expansion highlights3 records

Direct peers

• Hub International: Major North American insurance brokerage offering personal, commercial, and employee benefits solutions through regional offices. Closely comparable to BWB in independent agency structure and multi-line product mix, with private equity ownership driving an active tuck-in acquisition strategy similar to BWB's.
• Acrisure: Fast-growing, private equity-backed insurance brokerage built on acquiring independent agencies and layering technology. Directly comparable to BWB's independent-agency M&A model, with a stated focus on commercial, personal, and benefits distribution across regional markets.
• Brown & Brown: Large publicly traded independent insurance brokerage distributing personal, commercial, and employee benefits products across the U.S. Operates a multi-carrier agency model with regional offices analogous to BWB's independent distribution approach, though at vastly greater scale.
• Leavitt Group: National network of independent insurance agencies offering personal, commercial, and benefits products through regional offices. Directly comparable to BWB in independent agency structure, multi-line products, and decentralized regional operating model.
• Woodruff-Sawyer & Co. Independent insurance brokerage offering commercial and personal lines plus employee benefits across multiple U.S. regions. Comparable to BWB as an independent, multi-line agency using a similar carrier-portfolio distribution strategy.

Others

• Assurex Global: Worldwide partnership of independent commercial insurance, risk management, and benefits brokers. Comparable to BWB's Trusted Choice affiliation as a network that supports independent agencies with carrier access and shared resources, though focused on commercial rather than personal lines.

Regional players

• TrueNorth Companies: Midwest-based independent insurance and financial services brokerage offering personal, commercial, and employee benefits products. Comparable to BWB in scale, multi-line independent agency model, and regional Midwest service footprint.
• Starkweather & Shepley Insurance Corp. Long-standing independent insurance brokerage based in the Midwest offering personal, commercial, employee benefits, and financial services. Closely comparable to BWB as a multi-generation, family-led independent agency with similar product breadth and regional geographic focus.

Broad incumbents

• Marsh McLennan: Global professional services firm with Marsh as its insurance brokerage arm, offering personal, commercial, and employee benefits solutions. Comparable to BWB in offering multi-line insurance distribution but operating as a global incumbent with corporate risk and consulting adjacencies.
• Arthur J. Gallagher & Co. Global insurance brokerage and risk management firm with significant retail brokerage operations across personal, commercial, and benefits lines. Comparable to BWB as a multi-line brokerage, but operates at massive scale with a much broader service portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/bwbins.en
• LinkedInlinkedin.com/company/baker-welman-brown-insur-agcy

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Baker Welman Brown Insurance & Financial Services