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Economic Development News

Posted on: September 1, 2015

Brokers Alliance Model for Hometown Growth

Article originally published in the Wednesday, July 22, 2015 edition of the Fountain Hills Times. By Barb Charzuk, Times Reporter. Reproduced with the permission of the Fountain Hills Times.

Town economic development specialist Scott Cooper wishes he had a couple of expanding businesses like Brokers Alliance in his back pocket.

“Brokers Alliance is a phenomenal example of a great local company that is growing,” said Cooper during an interview about attracting businesses to the community.

“We need to grow our own (jobs). We can’t rely on outside sources and outside companies to change things around here because those are rare and hard to come by.”

He places Prevco, SET Enterprises and Concept Development -- all companies owned by residents -- in the same category of firms either creating new positions or bringing jobs into town in the last few years.

Brokers Alliance is a national life and annuity brokerage agency located at the corner of Palisades and Saguaro boulevards.

David Racich, son of the founder and company president/chief executive officer, bought the contemporary green glass office building in 2013 under a holding company created in the name of his children.

His father, Joseph, created the company under another name, RAAN Marketing Inc., in 1982, in Homewood, Ill. The company expanded in 1995 in Fountain Hills and changed its name in 1998.

Brokers Alliance is close to outgrowing its office building within the next two years and is considering acquiring another location for expansion, said Cooper.

“It’s a good problem to have,” said Cooper, who is focused on retaining the company here. He is consulting Racich on the availability of commercial space that would fit Brokers Alliance’s requirements.

Brokers Alliance and its affiliated companies continue to expand.

Racich said he is in the process of acquiring a 32-employee company and relocating the jobs here. Plus, Brokers Alliance will add another 25 or more employees to its workforce over a 16-month period.

In addition, Racich has plans to add at least another 55 employees to Outlook Advisors in the next two years.

Funding is in place and the employees are desperately needed, said Racich. Outlook Advisors provides online life insurance, retirement and estate planning solutions.

Another of his companies, Wired Up Installation, which installs and services phone systems, audio/video systems for conference rooms, card access control and IT solutions, added six employees over the past 12 months.

Brokers Alliance represents some of the most recognizable top insurance carriers, including John Hancock, MetLife, Prudential, New York Life and Lincoln Financial.

The elder Racich started writing life insurance as an independent broker in 1978.

He recognized that agents in the industry were in need of a reliable resource that would provide vital product information, underwriting support and marketing techniques.

His idea was to create a one-of-a-kind national general agency that would provide superior service, compensation and benefits to agents.

As David Racich once explained, the firm offers Fortune 500 health benefits to independent agents while letting them maintain their independence.

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