Niall McConville

Bombora Advice has announced that in response to Kevin Martin, stepping down as Chair, founder and Managing Director Wayne Handley has been appointed Executive Chairman; and Niall McConville Managing Director.

These changes will be effective July 1, 2025.

Kevin Martin has served as Chair since January 2016 and Niall McConville has been a member of the Bombora Board since April 2024.

In acknowledging Kevin Martin’s immense contribution, Wayne Handley paid tribute to his outstanding leadership that ensured stong financial management, corporate governance and positive positioning of the brand in the risk sector.

Kevin will continue on as a Board member.

Bombora has made significant progress since commencing operations in 2013 as a boutique focussed, advice led business dedicated to delivering professional risk advice and superior client outcomes.

In addition, to growing its national network of risk focussed advisory businesses, Bombora has established significant relationships with other professional service firms with a collaborative advice model to ensure their clients risk insurance needs are both met and serviced.

Wayne Handley said “It is a privilege to be appointed Chair and with the support of the Board and senior team, I am committed to building on Bombora’s marketplace reputation and presence.

“These are exciting times and the strategic business opportunities for Bombora are immense.  I’m looking forward to positioning the organisation for continued success and growth in the future.”

In welcoming Niall McConville as Bombora’s new MD, Wayne Handley said he is a seasoned financial services executive with a proven track record that has spanned two decades in advice, insurance, distribution, and strategy.

“Niall was responsible for numerous functions including sales, new business, underwriting, claims, and service – and played a role in helping to shape the future of financial advice in Australia.

“A passionate advocate for more consumer access to quality advice, he is committed to financial services diversity, including greater representation of women in advice and pro bono financial services for people facing hardship.

Niall holds industry-recognised qualifications in insurance and financial advice and is highly regarded for his ability to work with advisers, lead teams, deliver strategic growth, and build high-trust relationships across corporate and regulatory environments.

The news of Niall’s appointment has been enthusiastically received by Bombora’s adviser / practice network, alliance partners and insurance businesses.

Incoming MD Niall McConville said he was delighted to be Bombora’s MD as it is a vibrant business and justifiably proud of its industry reputation that has attracted professional advisory insurance specialists seeking a supportive AFSL dedicated to delivering superior client outcomes.

“My focus will be the next phase of Bombora’s strategic journey that will include enhancing operational efficiency, capitalising on growth opportunities in the life insurance sector and improving both adviser and client experiences”.

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Commenting further on the announcement, Handley said David brings significant industry experience and insight that will be utilised to strengthen Bombora’s risk specialist marketplace offering and drive the national licensee’s next growth stage.

Operating from the national licensee’s Melbourne Head Office, David’s role will encompass two key areas –

• First, to attract new quality practices / advisers to Bombora’s national network of risk advice professionals; and
• Secondly, to work with existing practices to develop referral relationships with other professional service firms.

In addition, David will seek acquisition opportunities as well as developing a B2B offering that will leverage Bombora’s proven and highly successful Risk Insurance business model and framework.

Prior to joining Bombora, David held senior Executive Roles at AIA and TAL, having most recently held the position as the Head of Sales for TAL (2016–2022).  Furthermore, David’s understanding and appreciation of Risk Insurance from the adviser’s perspective is further deepened by working with his partner to run a successful Risk Practice for many years.

David Mounsey said, “I’m excited to have the opportunity to contribute to Bombora’s ongoing success and to work with the organisation’s highly motivated and respected risk advice practitioners.

“The role of Business Growth & Development Manager provides me the opportunity to assist advisers and practices to enhance and lift productivity and capitalise on business opportunities in an increasingly complex and challenging financial services environment.”

Looking to the future, Wayne Handley said with industry turmoil continuing, there’s real benefit for risk practices to join or align themselves with a specialist advice licensee like Bombora that is so well positioned and structured to support their long-term business, succession and growth aspirations.

“Even though conditions are challenging – the opportunities for quality risk advice firms has never been better,” added Wayne Handley.

Since inception in 2013, growth for growth’s sake was never the objective for Bombora.   The application of a best practice risk specialisation model with a ‘quality over quantity’ focus has resulted in industry leading productivity outcomes for the Bombora network of risk advice professionals.

In addition, Bombora has aligned its future to one where its risk practitioners work within strategic alliance frameworks with fellow advice providers such as accountants, lawyers and in particular wealth advisers.  Working collaboratively with other professional service firms to deliver the very highest standards of client service and advice outcomes.

Wayne Handley concluded, “Time has validated for Bombora that specialisation is the foundation for long-term success and driver of a more innovative approach to delivering risk advice”.

“With the appointment of David Mounsey, Bombora is well placed to capitalise on its reputation and marketplace offer to further position Bombora as an industry leader – and leverage and expand the group’s resources and capabilities to a broader base of risk advice practitioners and practices”.

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Mark Butler and Cameron Peck

Morrows leading financial advisory firm, and Bombora, a renowned risk insurance licensee, are thrilled to announce their strategic alliance, forming Morrows Risk Insurance – a new division dedicated to delivering specialised insurance advice for businesses and individuals.

This partnership will allow Morrows to provide tailored risk insurance solutions backed by leading industry experts and providers.

Laurel Moulynox, Director of Morrows Private Wealth, expressed her excitement about this strategic alliance, “We are delighted to partner with Bombora to launch Morrows Risk Insurance. This collaboration allows us to harness the expertise of both our organisations. Enabling us to offer our clients truly customised and tailored risk insurance solutions”.

Morrows Risk Insurance will be led by Cameron Peck and Mark Butler, two risk insurance and advisory experts with over 20 years of experience, empowering clients to safeguard their financial future and protect themselves against unforeseen events.

Wayne Handley, Managing Director of Bombora, highlighted the significance of this collaboration, saying: “At Bombora, we have always believed in developing meaningful and sustainable relationships with leading professional service firms. Our partnership with Morrows combines our complementary strengths, adopting best practices in risk specialisation with a ‘quality over quantity’ focus”.

“With this strategic alliance, and the launch of Morrows Risk Insurance, our team will help raise the bar for client-centric risk insurance advisory. Our clients will benefit from comprehensive insurance advice designed to address their unique needs and risk profiles, giving them the confidence to navigate the future with peace of mind,” explains Laurel Moulynox.

Morrows and Bombora are committed to working together to provide clients with unparalleled support, personalised solutions, and a comprehensive range of risk insurance options.

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Wayne Handley

Bombora Advice founder and Managing Director Wayne Handley has congratulated MBS Insurance (MBS) on obtaining their own AFSL which is a significant milestone for the Sydney headquartered Australia-wide business.

Commenting further Wayne Handley said MBS joined Bombora in 2015 and is a founding practice and equity partner of the national risk advice group.  He also confirmed that MBS’s Founding Partner Kris Mason will continue as member of the Bombora Board.

MBS Insurance’s AFSL came into effect on August 1^st and Wayne Handley has affirmed that both groups will continue their close professional and operational relationship under a new alliance arrangement.

“MBS is to be commended for the extraordinary success they have achieved as risk insurance specialists that has been reflected in business growth, market leading JVs, operational / service excellence and reputational standing in the industry”, said Wayne Handley.

“It was an inevitable progression of this success that the MBS group would operate under their own license and we sincerely wish them continued success for the future”.

Under the new alliance and continuing relationship, MBS will access all Bombora’s B2B wholesale services and facilities that includes audits, committee structures, education, training, PD Days and conferences

Responding on behalf of MBS, Kris Mason said “We joined Bombora in 2015 and it has been immensely rewarding and beneficial – and the relationship accelerated the progression to our own AFSL”.

“This is an exciting milestone for MBS and we are very positive about the future and potential we will realise by operating under our own license”.

MBS was established in 2006 as a risk specialist advisory practice.  The group has grown steadily and today is one of the largest advice businesses and portfolio managers across Australia.

Today, the group is headed by Founding Partner Kris Mason, Managing Partner Drew Burden and Partner / GM Carolyn Clark.

Wayne Handley and Kris Mason concluded, “The past seven years have been an extraordinary period for Bombora and MBS as both enterprises have benefitted immensely from the connection and relationship”.

“Most importantly, it is an excellent demonstration of what can be achieved when advice businesses and the Licensee are 100% aligned strategically and operationally.

“Although operating under separate AFSLs, we will continue to build on our history of achievement and success under a new wholesale B2B alliance”.

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Wayne Handley

Bombora Advice (Bombora) Managing Director, Wayne Handley, has confirmed that he will be submitting a response on behalf of the dealer group’s adviser network to the “Interim Report” issued by John Trowbridge on December 17^th.  Furthermore, he encourages industry stakeholders to review the report and respond accordingly.

Although the deadline of January 30 is fast approaching, Handley is adamant that it is in the best interest of advisers to take the opportunity provided by Trowbridge and ensure that they submit appropriate constructive commentary to ensure the future of the advice sector reflects their first hand experience in directly servicing the needs of Australian consumers.

Commenting further, Handley said, “Advisers have an intimate understanding of consumers as they are ones that deal directly with them on a personal level through the delivery of professional advice”.

“In addition, they are the ones managing the claims and other related issues – and in doing so, they have much insight and experience to contribute”.

Handley believes ASIC as a result of their report released late last year has provided the sector with a real opportunity to ‘grasp the nettle’ when it comes to risk advice – the onus is now clearly on all stakeholders to respond.

“I was delighted to see the formation of the Life Insurance and Advice Working Party under the independent chairmanship of John Trowbridge and applaud the Financial Services Council (FSC) and Association of Financial Advisers (AFA) for their proactive efforts.  But the time has now come for practitioners to have their say and provide balanced views that are essential at a time like this”.

In speaking to a number of advisers Handley was surprised to learn that so many were unaware of the Interim Report and this was a concern as all Licensees should have drawn the report to the attention of their respective networks – particularly given its significance.

Commenting on Bombora’s response that will be submitted early next week, Handley said he will be responding to all aspects of the report with particular reference to the following issues:

• Competency standards
• The cost of delivering advice
• Claims management
• “Best Interest” responsibilities
• The “UK” experience

The Bombora submission will also draw to the chairman’s attention the time, effort, resources and energy afforded by practices in pursuing cover for clients that never eventuate for a multitude of reasons.

These daily events come at a real cost to practices and are currently being absorbed with no charge to the consumer – but with very real legal responsibilities to the adviser and his / her business with respect to the  provision of professional advice.

“Amending contract terms and cover because of affordability issues a client may encounter is yet another example of adviser service provided at no charge.  However, the nuances and dynamics of providing risk advice are often not clearly understood and it’s our task and responsibility as practitioners to change this”.

“An opportunity to provide a balanced and considered perspective and insight into the provision of financial advice should never be taken lightly or ignored”, concluded Handley.

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Wayne Handley

Bombora Advice (Bombora) Managing Director, Wayne Handley, has announced that Queensland headquartered life risk specialist Personal Risk Professionals (PRP) has joined the boutique dealer group.

PRP was established in Brisbane by Mark Everingham in 2009 to provide solutions and strategies for business owners, professionals and senior executive clients to address their complex estate planning, business succession and risk protection requirements.

Mark is an Accredited Estate Planning Specialist, Life Risk Specialist, Certified Financial Planner and passionate advocate of risk protection and the benefits it and the financial services industry in general, provide to all Australians.

Today, with a dedicated team of risk specialists, PRP services a growing client base in Queensland, New South Wales and Victoria.

The PRP business model utilises collegiate and collaborative relationships with accountants, lawyers and other professional advisers to develop and implement action plans and structures for clients that seek to ensure business succession, estate continuity, retirement and wealth creation aspirations have appropriate risk protection with supporting legal documentation.

Although disappointed to leave his dealer group of five years and most appreciative of their service and support, Mark felt the Bombora offering was an exceptional opportunity.

In welcoming PRP to Bombora, Wayne Handley said there were many factors that Mark Everingham considered, but ultimately, it was the non-aligned boutique business model and dedicated risk focussed marketplace offering that underpinned his decision to join the group.

“The need for Australians to protect their wealth and create certainty for themselves, their businesses, families and intended beneficiaries has never been more important and complex,” said Mark Everingham.

“We therefore felt it was imperative for PRP’s future and client service offering that the practice needed to be incorporated within a specialist dealer group infrastructure – and Bombora met all our requirements.”

Early last year, Wayne Handley identified the need and demand for a boutique alternative to the traditional dealer group model and after extensive research and analysis, established Bombora Advice.  The risk focussed dealer group officially commenced business in September.

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

“Nothing has changed since Bombora started, in fact our values and key points of difference continue to resonate as the industry settles into the modern FoFA era,” said Wayne Handley.

“Nor has the Bombora business model waivered from a focus on productive relationships, managed growth and building an organisation based on ‘sharing value’.”

Founding equity partner, Melbourne based Complete Risk Analysis (CRA) was the first practice to join Bombora as word of mouth spread about the boutique dealer group and its aspirations to engage and support the needs of risk professionals.

Wayne Handley confirmed that Mark Everingham and PRP were also founding equity partners of Bombora.

Mark Everingham continued, “I believe that Bombora’s collegiate environment that encourages and facilitates the sharing of ideas, experiences and knowledge will be of immense long term benefit to PRP.  Furthermore, I have no doubt that other specialist risk practitioners will find the Bombora marketplace offering very attractive.”

With PRP joining CRA as Bombora practices, Wayne Handley advised that discussions with two more practices were close to being finalized and he expected to announce their signing with the group next month.

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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.

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Wayne Handley is adamant that the conventional model (irrespective of ownership) is under stress and in some cases unsustainable, a new wave of thinking is essential to address the service and operational requirements of the adviser in the post FoFA era.

Advisers need to be associated with a specialist licensee that intimately understands the industry, their needs and has a dedicated and focused infrastructure, flexibility and scale to support their specific advice provision and business growth needs. The Licensee of the future should merely be an ‘extension’ of an Advice business not the ‘top down’ model we see today.

Bombora Advice’s aim is to be that intimate organization, partnering risk specialist, with key points of difference and productive relationships; it is not obsessed with recruiting numbers for numbers sake; growth will be managed; and most importantly we will build an organization based on ‘sharing value’

In addition, Handley is bringing together an extensive range of services and key support relationships with accountants, lawyers, business strategists, etc – all dedicated to specifically supporting the delivery of comprehensive, ethical, professional risk advice to consumers by Bombora advisers.

“Before returning to the market after leaving MLC, I did some extensive research and took an objective view of what the advice world was going to look like post FoFA. Our aim was to create a new model, one that is fresh with its thinking, advice led and works in harmony with fellow professionals

“It was clear that risk advisers were seeking a more innovative offering, boutique feel, professional and independent of manufacturers yet also enjoyed a close working relationship with institutions.”

Furthermore, Handley’s research revealed that advisers want to be engaged and associated with a licensee management team that is lean, easily accessible and intimately understands their businesses, issues, aspirations and advice delivery requirements.

Bombora Advice will operate as a boutique provider and specialist within the risk sector and have a wide range of services, strategic relationships and partnering arrangements enabling the company and adviser practices to grow without comprising quality and integrity.

Handley’s trip to the USA to study at Stamford University validated a lot of his thinking as well as reinforcing the importance of a leadership during times of change.

The Bombora Advice approach has been structured around a very clear and defined value / marketplace proposition geared to building value for its advisers through an infrastructure that maximizes practice operational efficiency and business success.

Wayne Handley concluded, “It is no secret that financial services is undergoing immense and unprecedented change and for advisers to secure their industry future requires a partner that meets far more than just their day to day operational and compliance needs.”

“In this environment, advice practices need a competitive edge to deliver service and value to clients and Bombora Advice has been structured to provide risk professionals with a partnership offering and solutions that will enable them to the build their businesses through strong robust client relationships.”

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