Bombora Advice has launched a new Board of Advice, intended to bring advisers more directly into the heart of the specialist life insurance AFSL’s decision-making.
A release last week notes the Board comprises representatives from six of Bombora’s 23 practices nationwide, “…creating a formal channel for collaboration, feedback and innovation on the future of risk advice.”
In what the firm describes as a timely move as the advice industry awaits legislative change in an increasingly complex insurance landscape, the dealer group’s inaugural Board of Advice comprises the following advisers:
- Adam Smith: Succession Matters, WA
- Miguel Frances: PNO Life, VIC
- Larissa Tapsall: Future Assist Protection, QLD
- Luke Considine: Wealth Architects, VIC
- David Keavney: DMK Group, NSW
- Jeff Lanyon: Regional Financial Planning, QLD
The Board met for the first time last month, addressing key industry-level issues such as the unsustainable increases to TPD premiums and the growing problem of underinsurance. Following the meeting, Bombora confirmed plans to:
- Sharpen its focus on group insurance
- Collaborate with insurers on product design
- Consider a new referral system for general advice clients
“Establishing a Board of Advice underscores our continued commitment to enhancing operational efficiency, seizing strategic opportunities in life insurance and supporting advisers to deliver exceptional client outcomes,” said new Bombora MD, Niall McConville: “It will change how we do business, and bring us closer to our network of advisers.”
