How Edward Pritchett built a multi-million dollar company after losing his job in 2008

Edward Pritchett is the founder of the multi-million dollar insurance company, The Pritchett Agency, as well as a senior partner at Symmetry Financial Group since 2010. A major player in the insurance industry, Pritchett started as a chemical engineer.

He lost his job in 2008 following the global financial recession and stepped into the financial services and insurance world as a field agent with Liberty National Life. He leveraged his engineering training in process management and quickly earned a role as a unit manager with the company.

Pritchett used his new knowledge in the insurance space to start The Pritchett Agency, a firm he named after himself. He also partnered with Symmetry Financial Group/Quility Insurance Holdings in October 2010.

He currently runs one of the largest production organizations and fastest-growing agencies within Symmetry Financial Group’s $300m a year insurance marketing organization

“I continue to expand on my capabilities in the insurance industry, helping my clients prepare for retirement with Privatized Banking, Indexed Universal Life, and Annuity based planning, working with business owners to bring greater protection to employees and association members with Group Benefit programs as well as helping business owners self-finance using the Cash Flow Insurance model,” he noted on his LinkedIn Profile. 

“I love being able to educate people on the possibility of wealth-building using insurance as a part of their strategy. Outside the insurance industry, I am investing in various real estate projects where I can.”

Pritchett’s venture into the insurance industry was not an instant success, Moguldom reported that his first two years were rough. According to a Yale graduate, he only made $30,000 and reinvested much of it into his business. Through hard work and perseverance, he eventually found success.

“It wasn’t going very well for me and so there were a lot of doubts,” Pritchett told fellow agents in a speech. “Here’s where clarity was able to come for me: I was able to find someone to speak life into me, someone who believed in me more than I believed in myself.”

Pritchett, who has a wife and four children, also touts how lucrative the insurance industry is, adding that growth in the sector has no limits.

“By building us all up we continue to grow this industry that really has no limits. There’s no end to what you can do in the insurance industry,” Pritchett said. “There’s so much blue ocean. … In the life industry of the United States in 2020, they had their first trillion-dollar year of premium from consumers to carriers and guess who has to get in the way of that.”