Wallace Welch & Willingham Inc. joins IMA Financial Group

IMA enters Florida market, announces key merger with largest independent broker in state

(Denver, CO – August 1, 2024). IMA Financial Group, a North American insurance brokerage firm specializing in risk management, insurance, wholesale brokerage and wealth management, is joining the Florida commercial insurance market by entering a strategic partnership with Wallace Welch & Willingham, Inc. The St. Petersburg and Sarasota, Florida-based firm is the largest privately held retail insurance broker in the state with 155 employees and nearly $30 million in annual revenue.

“Wallace Welch & Willingham is exactly what we look for in a strategic partner: a robust 100-year history of providing quality service and unwavering commitment to their clients, and core values of integrity, accountability, success and passion which guide all of their company decisions,” said Robert Cohen, CEO of IMA Financial Group. “What truly stands out about the firm is their values-driven approach to their clients, employees and community, which echoes IMA’s commitment to protecting assets and making a difference.”

Tracing its roots back to 1925, Wallace Welch & Willingham operates as an independent insurance broker providing commercial and personal property & casualty and employee benefits services to companies and individuals throughout the state of Florida. With significant business in construction, manufacturing, auto dealerships, hospitality, marine, nonprofits, country clubs and an organizational commitment to enhanced client services, the firm has acquired 30 agencies since the 1960s, each with storied histories and a long legacy of excellent client service.

The firm can also point to its commitment to the broader Tampa Bay community as a key driver in its growth, living a mantra of “where company meets community” through support of nonprofit causes like the St. Baldrick’s Foundation and The Children’s Dream Fund.

This strong culture and commitment to service has helped Wallace Welch & Willingham become a “Best Place to Work” by the Tampa Bay Times and Business Insurance, as well as a “Best Practices” agency by the Independent Insurance Agents & Brokers of America, Inc from 2020-2023.

“Our search for the next step in our company’s growth story was driven by a desire to find a partner that was like us, but had the resources, specialty expertise and a culture that puts clients and employees first – we found that with IMA – a regional agency with national scale,” said Jon Hammond, President of Wallace Welch & Willingham.

Building the “Broker of the Future”

IMA creates strategic partnerships with like-minded companies who embrace IMA’s mantra of building the “Broker of the Future” through investments in technology, training and support to deliver the best results to clients and position the company for future growth.

With this new partnership, Wallace Welch & Willingham will be known as Wallace Welch & Willingham, an IMA company. Today, IMA has clients in all 50 states with 19 regional offices in 20 states that collaborate and align client services throughout the enterprise. With Florida rising to the fourth-largest economy in the United States with a host of unique commercial insurance challenges, IMA is well positioned to continue its growth trajectory as one of the largest independent, majority employee-owned insurance brokerages in the U.S.

About IMA Financial Group

IMA Financial Group is an independent broker defining the future of insurance through comprehensive and consultative risk and wealth management services. A majority employee-owned and managed company, its 2,500-plus associates in offices across the country are empowered by a shared mission to protect assets and make a difference.