Investor Spotlight: SGP Advisors
April 27, 2023
SGP Advisors is an independently owned and operated insurance brokerage with roots tracing back to 1995 when founder Vern Barclay left a successful career in law firm administration to start the firm.
Over the years, through strong organic growth and strategic acquisitions, the firm has grown to meet the needs of its clients. The firm’s value-added proposition includes a vast offering of services, such as in-house capacity to conduct risk management audits, claims counseling and advice, policy analysis and a wide range of additional resources that address the everyday issues that arise in a client’s business.
Today, SGP Advisors is a multi-office specialist with a national clientele and proudly serves a wide array of professional service organizations beyond its original law firm niche. Firm principals have 60+ years of industry experience and their unique expertise has placed SGP Advisors in the top tier of insurance brokerages across the United States who dedicate themselves to the professional service industry.
Michael P. Shea, President
Mike P. Shea is a Tampa native and a graduate of Florida State University with a bachelor’s degree in finance. After a brief career in the banking industry, Mike accepted an advisor position at SGP Advisors. At that time, SGP Advisors consisted of two partners and no employees operating only in Florida. Mike became responsible for the firm’s geographic expansion and quickly grew the client base nationally. Today, Mike is President/CEO of SGP Advisors, which maintains two offices, 20+ employees and clients in 42 states. Mike is an advisory board member of the Downtown Tampa YMCA and serves on the executive council of the Florida State University Risk Management and Insurance Council. Mike resides in Tampa with his wife Leila Pallardy Shea and their two young boys, Reilly and Braden.
Your company recently rebranded from Shea Barclay Group to SGP Advisors. What was the catalyst for this rebranding?
Our company has been around since 1995 and has gone through many evolutions. We began the firm solely focused on law firms. Over time we have grown to service many different industries, while expanding our product offerings. Along the way we added new partners and as an organization felt we had outgrown our name and our brand, so it was time for a change. We are not your typical insurance agency. We expect ourselves to be in an advisory role to our clients hence the name SGP Advisors. It was a really fun endeavor and as a firm we are incredibly proud of what we have built and where we are headed.
You’ve been a longtime Investor of the Tampa Bay EDC. Why do you feel it’s important for the local business community to continue to support economic development efforts?
What Tampa has become is incredible and I feel, not only as a native, but also as a business leader, that with great opportunity comes great responsibility. To see the influx of business, talent, industry, jobs, attention pour into Tampa has been amazing to watch and have a front row seat. It’s because of the EDC and our surrounding communities that create this awareness and excitement, plus a few championships haven’t hurt. It’s really remarkable to be part of it.
What community issues are you most looking forward to the EDC tackling over the next couple of years?
This is a tough question and one that I think requires great thought and caution. I think what the EDC is doing already is outstanding. I am not sure there are more issues to tackle. I think the issues that need to be tackled need to be done by our elected officials. We have a challenge with the amount of people and businesses moving to Tampa. I am not sure we are prepared from an infrastructure standpoint, but the train has already left the station (no pun intended). I think the EDC has proven its capabilities and needs to just stay the course and hope the rest of the puzzle pieces can fall into place to support the growth.
You’re a Tampa native. What do you love about Tampa, and what excites you most about your hometown’s future?
Great question. I think about this all the time. It’s a bit overwhelming sometimes to sit back and see what Tampa has become. I am a third generation Tampanian. My grandfather (Harris Mullen), who I admired deeply and had the opportunity to be very close with, especially when I was just starting out professionally. He, my mom, sister and wife all graduated from Plant. So, roots run deep here. What I love about Tampa would require a much longer story. What I am really appreciative of is the relationships I have developed over the years. Some go back a lifetime, but some of the closest have been formed in the past 10 years with people who have come from Seattle, Boston, Chicago. I think that is really cool. As for the future, I think we are living in it. To see where Tampa goes from here is going to be a heck of a ride and I am just glad to have a seat on the train.