Higginbotham has joined forces with Monarch Solutions Inc. to expand services for high-net-worth clients, the company announced Thursday.
Monarch Solutions specializes in insurance-related strategies designed to provide tax savings and estate liquidity. Under the agreement, Monarch founder Kevin Klaas will serve as a Higginbotham managing director based at the firm’s Fort Worth headquarters, while operations manager Ann Marie Coyle will continue leading Monarch’s field office.
Higginbotham chairman and CEO Rusty Reid said the partnership reflects the firm’s broader growth strategy, which centers on aligning with teams that share its values and supporting their continued expansion.
“Monarch is the kind of firm you can’t create overnight,” Reid said. “When a team earns a book like that, it tells you they do the work the right way – they listen, they plan carefully, and they work seamlessly with the other advisors around the table.”
Klaas said that long-standing relationships with Higginbotham’s leadership gave him confidence in the decision to join the firm.
“When we began looking for a firm to join, I wanted to know we were stepping into a place that would protect our people and preserve what we built,” Klaas said. “I’ve known leaders at Higginbotham for more than a decade, and I trusted that we would not be folded into a bureaucracy or lose our identity in the process.”
Coyle said the partnership will allow the small team to focus more on clients by leveraging Higginbotham’s existing infrastructure.
“Efficiency is going to be huge for us,” Coyle said. “We’re a small team, so administrative tasks and technology decisions take time we’d rather spend serving our clients. Higginbotham already has proven processes, vetted tools and shared support that we can plug into.”
Reid said Monarch’s specialized capabilities will also strengthen Higginbotham’s life insurance and financial services offerings across the broader firm.
Industry research shows the global market for insurance tailored to high-net-worth individuals continues to expand. Valued at about $106.6 billion in 2024, forecasts predict the HNW insurance market will grow steadily through the end of the decade as affluent households seek bespoke protection for property, luxury assets, and complex liability exposures. Custom coverage for fine art, high-value homes, cyber threats, and luxury vehicles increasingly drives demand as traditional policies fail to meet sophisticated needs. North America accounts for 38% and 42% of this market, with tailored advisory-led solutions gaining traction.
Another projection estimates the insurance segment for wealthy individuals could grow at a compound annual growth rate (CAGR) near 7.8% through 2033, reflecting rising wealth accumulation, digital exposures, and complex lifestyle risks that standard products do not adequately address. Cybersecurity risk, international travel, and multi-jurisdictional exposures are accelerating shifts to highly personalized coverage frameworks.
