Leading specialty risk advice businesses MBS Insurance & Complete Risk Analysis join forces

Wed, 14 Aug 2019 21:35:06 +0000

Kris Mason

Leading specialty risk advice businesses MBS Insurance (MBS) and Complete Risk Analysis (CRA) have announced they are joining forces in a merger that will position the new group for growth and success in the new era of professional advice.

In a market that proclaims a future of challenges for risk insurance, Sydney headquartered MBS and Melbourne based CRA are confident that benefits of merged expertise, increased scale and improved efficiencies will be the foundation for new business growth underpinned by a compelling marketplace and client service offering.

Commenting on the announcement, MBS co-partners Kris Mason and Drew Burden, together with CRA founding partner Glenn Kerr said the new merged entity will make the company one of the industry’s largest risk insurance advisory businesses.

“In combining the two organisations that are leaders in personal / business risk protection, expert risk advice and ongoing support – the merger has brought two specialist businesses together with common values, cultures and a shared commitment to put clients first,” they said.

“Putting MBS and CRA together makes us far larger, gives us better scale and will deliver better benefits and reassurance to clients”.

In contrast to all the doom and gloom, it also reaffirms that there is a future for risk insurance advice and advisory businesses.

Risk insurance clients want to deal with specialists that have deep knowledge, expertise and experience. They also demand reassurance and comfort that the advisory business will be operating successfully to support their long-term protection needs and strategies.

From that perspective, the combination of MBS and CRA addresses those two key issues.

The combined risk advisory business will have approximately $55 million in premiums under management, 18 authorised financial advisers and 40 administrative staff members.

Two new equity partners have also been confirmed. CRA insurance adviser Nicholas Brian and MBS general manager Carolyn Clark.

In addition, the group has 10 formalised JVs. The opportunity to expand this offering via further strategic alliances and JV partnerships is regarded as a key driver of future business growth.

Initially the two businesses will operate under their own brands whilst a new corporate identity and image is developed. In addition, they will continue to operate from their Sydney and Melbourne offices, run by their own management but guided by a common board of directors.

The new brand and identity are expected to be announced before the end of the year.

“Looking to the future, we will continue to provide our clients and JV partners the highest standards of professional financial advice, service and support. However, the main benefit is that the merger will enhance our national presence and footprint”, said Drew Burden.

The post Leading specialty risk advice businesses MBS Insurance & Complete Risk Analysis join forces appeared first on AdviserVoice.

Bombora Advice commences business with CRA – first Risk Specialist to join group

Wed, 11 Sep 2013 21:40:57 +0000

Bombora Advice joins risk specialist Complete Risk Analysis.

Bombora Advice (Bombora) Managing Director, Wayne Handley, has announced that his vision of bringing a new and innovative business model to the marketplace has come to fruition and has commenced its operations with leading risk specialist Complete Risk Analysis (CRA) the first to join the boutique dealer group, effective this month.

In welcoming CRA as Bombora’s first signing, Wayne Handley said word-of-mouth and a sound, non-aligned boutique business model and marketplace offering designed to complement, engage and support the dedicated needs of risk professionals have been key drivers of industry interest in the new enterprise.

CRA was founded in 1998 on the premise that comprehensive risk planning (wealth protection) requires specialist knowledge and understanding to ensure that all the client’s needs are addressed.

Today the company is one of Australia’s leading risk protection specialists operating from its Melbourne Head Office with six advisers and eight support staff providing advice services to the clients of fifty-five referring partners across Victoria and New South Wales.

Commenting on the decision to join Bombora, CRA Founding Partner and Principal Adviser Glenn Kerr identified sense of ownership of their own licence, and dealing with like-minded businesses and institutional non-alignment as the key factors that underpinned the move.

Kerr is confident working within a collegiate environment of peer businesses that encourages and facilitates the sharing of ideas, experiences and knowledge will be of immense long term benefit to CRA’s clients and advisers.

“The move to Bombora has been overwhelmingly supported by our referral partners, advisers and clients, as the benefits of specialisation and independence of institutional alignment and influence is most welcome,” said Kerr.

“We wanted to be associated with a specialist, independent licensee that comprised a leadership team with hands-on industry expertise and a dedicated, focussed infrastructure to support CRA’s client advice model and growth aspirations. Bombora Advice ticked all those boxes!”

A further beneficial outcome will be the peer group discussions that will unite in a single voice to articulate the needs, concerns and issues of the risk sector in the financial services marketplace.

After leaving MLC last year, Wayne Handley identified a need and demand for a boutique alternative to the traditional dealer group model and consequently, after extensive research and analysis, established Bombora Advice.

His aim was to create a fresh, innovative, advice-led business that was dedicated to working in harmony with fellow, like-minded professionals.

Bombora’s key points of difference are the focus on productive relationships; managed growth and building an organisation based on ‘sharing value’.

“Advisers that join Bombora will benefit from their association with a specialist licensee with a dedicated and focussed infrastructure, flexibility and scale to support the provision of professional risk advice in the post FoFA era”, said Wayne Handley.

While CRA is the first join Bombora, Wayne Handley confirmed that more practices would sign up with the group over the coming months. He points out that growth would be in line with his strategy to build a boutique dealer group focussed on careful, managed expansion.

The post Bombora Advice commences business with CRA – first Risk Specialist to join group appeared first on AdviserVoice.

AdviserVoiceGlenn Kerr Archives - AdviserVoice

Leading specialty risk advice businesses MBS Insurance & Complete Risk Analysis join forces

Leading specialty risk advice businesses MBS Insurance (MBS) and Complete Risk Analysis (CRA) have announced they are joining forces in a merger that will position the new group for growth and success in the new era of professional advice.

Bombora Advice commences business with CRA – first Risk Specialist to join group