Business Spotlight: Third-Generation Woodbury Family Moves its Company Closer to Home

The Ivance Company, Inc., is keeping it in the family.

Ivance Company is an independent insurance broker run by three generations of Woodbury residents. The company moved to Oakdale last month, but first, here's a bit of history:

John Ivance, Sr., first launched the company in 1946. His son, John Ivance, Jr., and son-in-law, John Chisholm, joined the staff and eventually took over the business when John Sr. retired in 1971.

When John Jr. retired he passed his half of the business to his son, John Ivance III and John Chisholm also passed his half of the business to his son, John Robert Chisholm. John Jr.'s son-in-law, Gary Underwood, had also joined the staff.

"A third-generation business is pretty rare, because families fight and have disagreements," Chisholm said. 

The Ivance Company represents several insurance companies and helps place customers with the insurance option—from personal to business—that best fits their needs. 

The business had been located in St. Paul since its inception in 1946, but as the nature of the business began to change the trio decided it was time to move to a more accessible location.

"You kind of get lost in the mass off humanity," Ivance said. "No one wants to come downtown." 

The group narrowed its search to Woodbury and Oakdale—much of their business comes from the eastern suburbs. Plus, Ivance, Chisholm and Underwood are from Woodbury.

The men settled the business in Oakdale after finding office space at 7825 Third St.

"We're very happy and excited to be in this community," Underwood said.  

Now that the Ivance Company is located in Oakdale, the group is focusing on growing new aspects of the business

"The business has changed. People have changed the way they shop for insurance," Ivance said. "Kids don't call. They jump on the internet and do their research." 

Despite changes in the business and the difficult recession, the business has lasted 66 years. Moving forward, the group is trying to build more awareness about who they are and what they do.

"We've lasted so long because of our personal service," Underwood said. "We have connections with our customers." 

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