About Franey Insurance Agency, Inc.
Franey Insurance Agency, Inc. opened its doors in 1973 with one owner and one administrative assistant. Over the years the agency, based in the Washington, DC, metropolitan region, grew to approximately 100 people before being sold to Alliant Insurance Services in 2003.
The situation
Gross Mendelsohn helped Bill Franey establish Franey Insurance Agency in 1973. The firm prepared the agency’s financial statements and corporate tax returns and provided business consulting services until the agency was sold to Alliant Insurance Services, one of the 15 largest insurance brokerage firms in the U.S., in 2003. Bob Grochowski of Gross Mendelsohn’s tax department handled the sale of the agency.
Bob Grochowski continues to handle Bill Franey’s personal financial planning and personal income tax returns.
In our client's words
“Bob Grochowski of Gross Mendelsohn has been my advisor for about 40 years. He helped set up my insurance agency in 1973. He provided financial statement, tax return and consulting services – the whole nine yards – for my business. When it came time to sell my agency in 2003, Bob handled the sale. He has also handled all of my personal financial planning and tax needs for decades.
The biggest benefit of working with Bob and Gross Mendelsohn is that they keep me straight with the IRS. Bob and his team also have an exceptional grasp of the mechanics of insurance agencies and the products we offer. For example, property and casualty and third party administration were two of my agency’s core insurance products. Although they come with their own challenges and complexities, Bob and his team thoroughly understood them. Their knowledge of my business definitely contributed to their ability to give outstanding advice.”
