Risk specialist dealer group Bombora is helping keep sole-practioner risk businesses prosperous in the post-FOFA and LIF era, says the principal of a Bombora-aligned practice.
Principal of Dmk group, David Keavney, said the era of singe-person advice practices is far from over and can still provide “immense personal and commercial benefits” for advisers with FOFA and the introduction of the new life insurance reforms.
Mr Keaveny added that joining Bombora has meant he has a strong network to be able to continue to operate as a sole practitioner.
“The decision to join leading risk specialist licensee Bombora Advice has been driven by the wish to future-proof the Dmk business model [so] that I can continue to provide specialist risk advice for clients,” he said.
“[The business] is most definitely a boutique premium business and it has been structured to reflect my personal values and goals to grow in an organic, steady and controlled manner that will ensure clients always receive the highest standards of advice, service, attention and care.”
Mr Keavney added that his business will “leverage off Bombora’s unique industry position, support framework, and strong relationships.
Bombora has quickly established itself as a unique and highly respected collective of risk advice businesses, and a dealer group model with excellent relationships with product providers and a willingness to contribute constructive commentary and input on industry and consumer-related matters, he said.
Bombora's managing director, Wayne Handley, said Mr Keavney’s comments were a “very strong testament” of the dealer group’s model that it can “accommodate the goals and aspirations of both large scale and one person practices”.
“It is an overwhelming endorsement that we’ve got the offering right,” Mr Handley said.