Bombora Marks Anniversary with Continued Growth

Risk focused advice group Bombora Advice will celebrate the fourth anniversary of its entrance into the market as one of the 12 leading licensees in risk advice in the country.

Bombora Advice Managing Director, Wayne Handley

Bombora Advice Managing Director, Wayne Handley

The group, which now has 35 risk advisers, was named by NMG in its December 2016 Quarterly report as 12th for new sales by licensees and follows its ongoing expansion during 2016.

Bombora Advice Managing Director, Wayne Handley said the number of advisers and new business sales were ahead of plan and “… were more satisfying given the ‘head winds’ faced by the risk advice sector. I’ve simply been delighted that we’ve continued to attract quality risk firms”.

Handley said the advisers that made up the group had come from a range of advisory backgrounds and the group welcomed expressions of interest from advisers but was not actively recruiting at present.

Growth within the group would mainly come from within, according to Handley, who said many of the licensee’s practices were in growth mode and were looking to increase the number of advisers and support staff, including the promotion of junior advisers and back-office staff.

Handley added that future growth would also come from strategic alliances with other advice providers, such as accountants, lawyers and other professional service firms.

He pointed to a partnership between Bombora practice MBS Insurance and Pitcher Partners Sydney to provide insurance solutions and consulting services for clients and business owners, and Bombora practice Perera Crowther joining with Econ Financial Services to create Econ Insurance Services as two recent examples of this approach.