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Higginbotham
Higginbotham opened in Fort Worth in 1948 as a one-man shop founded by Paul Higginbotham.
Higginbotham
Higginbotham opened in Fort Worth in 1948 as a one-man shop founded by Paul Higginbotham. Chairman and CEO Rusty Reid joined in 1985, acquired the agency in 1999, and engineered a growth model that breaks with industry convention. Instead of raising institutional capital, Higginbotham recruits independent agencies into its partnership by offering them equity in the parent, creating an alignment structure that has fueled decades of organic expansion (per public record). The firm now ranks among the top 25 independent insurance brokerages nationally by revenue. The firm packages commercial property and casualty insurance, employee benefits, retirement plan services, and personal lines wealth coverage for clients in all 50 states. Its client roster tilts toward mid-market businesses — construction firms, manufacturers, nonprofits, and professional services groups — alongside high-net-worth families. The platform also operates specialized practices for energy, real estate, and hospitality. In 2024 Higginbotham absorbed Austin-based insurance agency Fredericks & Berard, continuing a partnership-driven acquisition cadence that adds roughly a dozen firms per year (per Insurance Journal, 2024). Higginbotham fields over 2,500 employees across offices in Texas and the broader Sun Belt, with additional service locations in the Southeast. The firm maintains a dual-headquarters presence in Fort Worth and Waco while operating through more than 100 partner offices. In November 2024 Higginbotham named its first chief growth officer alongside a new CFO to support continuing expansion (per the firm's official communications, November 2024). The leadership bench includes second-generation family members from legacy partner agencies who retain operational roles. Higginbotham's structural differentiator lies in its partnership model. Most large independent brokerages are either member-owned (like a cooperative) or backed by private equity. Higginbotham is neither. Each partner agency receives equity in the whole, aligning incentives across the network without requiring a sale to outside investors. This architecture has produced unusual retention rates: founding partner firms routinely stay through multi-decade tenures, and leadership turnover is materially lower than the industry average.
General information
Firm type
Insurance
Year founded
1948
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Fort Worth
Corporate office
500 W 7th St, Fort Worth, TX 76102, United States
Principals
Rusty Reid
Chairman & CEO
Sector focus
Frequently asked questions
Who owns Higginbotham?
Higginbotham is privately held. Chairman and CEO Rusty Reid owns a controlling stake, and partner agencies that join the Higginbotham network receive equity in the parent company. This structure allows the firm to reward alignment across its offices without selling a majority position to outside investors.
How does Higginbotham's partnership model actually work?
Independent agencies that join Higginbotham receive equity in the holding company rather than a one-time cash payout. They retain day-to-day operational control of their local offices while gaining access to Higginbotham's back-office infrastructure, carrier relationships, and specialty practice groups. The model is designed to keep principals engaged long-term because their equity grows with the overall firm's performance.
What lines of insurance does Higginbotham place?
The firm places commercial property and casualty insurance, employee benefits, retirement plan services, and personal lines coverage for high-net-worth individuals and families. It also operates industry-specific practices for energy, real estate, construction, manufacturing, nonprofit, and hospitality clients.
Is Higginbotham backed by private equity?
No. Higginbotham has not raised institutional private equity. Its growth has been funded internally and through the equity partnerships it forms with acquired agencies. This distinguishes it from many large independent brokerages that have taken on outside capital to fund acquisition strategies.
How large is Higginbotham compared to other independent brokerages?
Higginbotham consistently ranks among the top 25 largest independently owned insurance brokerages in the United States by revenue, with over 2,500 employees and more than 100 partner offices. It operates in all 50 states with a concentration in Texas and the Sun Belt.
Who runs investment decisions at the firm?
Investment decisions — particularly those related to the firm's retirement plan services and any internal capital allocation — are overseen by the firm's leadership committee under Chairman Rusty Reid. For client-facing retirement services, Higginbotham's registered investment advisor arm provides fiduciary advice to plan sponsors.
Does Higginbotham have a philanthropic arm?
Higginbotham supports community initiatives through the Higginbotham Community Fund, which directs charitable contributions to organizations in the markets where its partner offices operate. The fund focuses on education, health, and human services within Texas and the broader Sun Belt.
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