Husband and wife duo, Andrew Royce and Tracie Rasmussen, started BlueStone Advisors over a decade ago, and in that time, they’ve built a firm rooted in purpose, innovation, and lasting impact.
Andrew brings a deep insurance background to the table. Prior to launching BlueStone, he worked at multiple agencies that were eventually acquired by PE brokers. Through those roles, he gained experience in the independent agency space, managed large global accounts, and refined his approach to client execution and white-glove customer service. Over time, however, he realized he no longer wanted to work in environments where acquisitions and the top line growth took precedence over clients and culture.
Tracie’s background is in computer programming, but her career evolved into operations and financial leadership. Working at a small business in Chicago, she gained firsthand insight into what it takes to run a successful organization. When that company was ultimately acquired by private equity, Tracie chose to step away – an experience that further shaped her perspective on leadership and long-term value.
Together, Andrew and Tracie recognized an opportunity. They saw a gap in the market for an independent broker focused on the middle and upper-middle market, one that could leverage their combined expertise to innovate and elevate the insurance experience. Their complementary education, skills, and experience gave them the confidence to take a leap and open BlueStone Advisors in 2012.
Success didn’t come overnight, but BlueStone has found its stride over the past decade and a half. The firm describes itself as a “boutique commercial agency,” and has developed a rhythm that works for its team and clients alike. BlueStone’s organic growth can be attributed to a multitude of key factors, including a shift toward industry specialization, strong alignment with carrier partners, winning on brokerage value, cross-training producers, delivering consistent white-glove service, identifying its brand, and investing heavily in staff development.
In 2025, BlueStone Advisors was named Big “I” Illinois’ Agency of the Year – an incredible recognition for their team from their state association! Before Tracie and Andrew could focus on growth, they determined they needed to create a great place where people genuinely wanted to work. That commitment began with culture and operations. Drawing from their diverse professional backgrounds, they applied practical insights to help understand how a successful business is run. While this effort started gradually, it became a formal company priority about 18 months ago.
As part of that initiative, they created a Best Places to Work Committee, made up of their employees who provide real feedback and help shape internal initiatives. One of the biggest things they learned was the team’s desire for greater community engagement. As Andrew and Tracie put it, “When employees can be impactful, they feel more connected.” In response, BlueStone is launching a foundation in 2026 to give back to the Chicago community.
Their advice for other independent agency leaders is simple but powerful: invest in the development of your people. Employees who feel valued and supported by their company are more engaged, and this commitment directly benefits clients. Their employees are happy to be at BlueStone, and it shows in their work, day in and day out with their clients. While organic growth is essential, the firm believes success ultimately depends on consistently delivering on its promise of white-glove service. That success isn’t driven by leadership alone; it’s made possible by the individuals who make up their team.
Another defining element of BlueStone’s leadership approach is its strong female leadership. While this industry continues to evolve towards greater inclusivity, BlueStone was ahead of the curve. Tracie’s leadership has been instrumental in shaping the firm’s culture and success, and her influence remains invaluable to the organization.
BlueStone Advisors has also engaged IA Valuations multiple times to support business growth and strategic planning. The firm has found the benchmarking tools especially valuable, providing insight into management and operations that only a trusted third-party advisor can offer. Just as importantly, third-party validation has reinforced their strategy and business plan. As the duo notes, “It’s nice to know that we’re on the right track.” As BlueStone looks to the future, its commitment to independence, intentional growth, and people-first leadership remains unwavering. By combining deep industry expertise with a clear vision for the future, community impact, and client service, Andrew and Tracie have built a successful business designed to endure the test of time. BlueStone’s journey is a testament to what’s possible when values drive strategy and growth is pursued with purpose.
By: Colleen Elliott
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