How one young broker took the plunge to form his own practice

A plan to obtain his Registered Insurance Brokers of Ontario (RIBO) certification in 2017 and join a brokerage didn’t work out for Maverick Insurance Brokers founder Bram Bains.

“I failed my RIBO test, and thought, ‘Maybe this is a sign for me. Maybe there’s more I need to learn.’ That’s when I started learning [about] private-client and high-net-worth insurance and how those risks were viewed, and how they’re different from standard retail, mass market policies and clients. I loved it. I loved hearing the stories. I enjoyed seeing how they built their wealth. A lot of the stories were very relatable,” he tells CU in a recent interview.  

From there, Bains says working with brokers and building relationships with clients, helped build confidence for establishing a niche in the high-net-worth space.

“It’s more of a commercial type of relationship with these clients,” says Bains. “I started going through that path again to get my RIBO. This time, instead of becoming an independent broker with another office, the idea for me was to build my own brand, build my own book of business, and eventually step into a mentorship position. From there, I could onboard the next generation of talent and help them grow and build their careers in this space.”

Working across various aspects of insurance taught Bains how to communicate and sell.

“Our industry can feel transactional at times; people generally don’t like paying for insurance. They don’t really understand what they’re paying for, they just know that they need it…Then, at the time of loss, the truth will start to come out…it impacts people financially. I wanted to be that person in my community [who could] help people with their policies, make sure that they understand what…they’re getting when they need to activate [their policy] at time of loss, be in their corner, guide them through the process…”

Also in the news: How brokers gain and keep trusted advisor status

When working as a high-net-worth broker, Bains says it’s critical to understand how clients fit into three generational levels. Generation one (G1) built the wealth, generation two (G2) are the children who typically multiply that wealth, and generation three (G3) are the grandkids who have systems in place to set them up for success.

“I started looking at it from the perspective of my audience. Am I speaking to the person who built the wealth? Am I speaking to the kids? Am I speaking to the grandkids? Because those are three different perspectives, and three different types of profiles that you have to trade with and communicate with.

“I relate to the G1s, because [I] started a business, a brand, and built something. As challenges come up, I’m fixing problems. G1s have gone through these experiences as well. Growing up, my peer group was composed of G2s — the kids of these wealthy families, business owners and entrepreneurs. I had the opportunity to see how they think by just hanging out with friends and [building] peer groups. I had the opportunity to see the G2s and the G1s, and I was really exposed to a lot of those types of conversations and seeing…dynamics and family structures.

“Coming into the private client space now, I get a mix of G1s and G2s and G3s. I communicate with empathy, seeing what their pain points are, what their lifestyle looks like, and trying to understand why they think the way they do. Taking that approach, I build trust and strong relationships. Clients feel seen and understood and heard.”

This article was excerpted from one that appeared in the October-November, 2025 print edition of Canadian Underwriter.

Why innovative customer experience will define the future of personal auto insurance Image

Insights Paid Content

Why innovative customer experience will define the future of personal auto insurance

Technology is helping insurers reimagine how they support personal auto customers — and it starts the moment a collision is reported, say experts at Accident Support Services International.

By 

Sponsor Image

Alyssa DiSabatino

Alyssa Di Sabatino has been a reporter for Canadian Underwriter since 2021, covering industry trends, market developments, and emerging risks.