Bombora picks up two VIC practices
Two Victorian-based practices have joined boutique dealer group Bombora Advice as equity partners, the group announced.
Shane Coutts from GL Financial Planning and Rory MacKenzie from Prom Country Financial Planning have joined Bombora, which was formed last year.
Coutts and MacKenzie said they joined the non-aligned group because they will benefit from collaborating with a risk specialist dealer group.
"Joining as equity partners has given us the opportunity to contribute to the strategic direction of the business whilst working alongside a professional team of practitioners in a supportive compliant administrative infrastructure," they said.
Coutts' GL Financial Planning is headquartered in Geelong, and services clients from Werribee to the coastal and rural townships surrounding Geelong.
MacKenzie's Prom Country Financial is based in South Gippsland and is a risk protection specialist, looking after medical professionals and self-employed business clients.
Bombora managing director Wayne Handley said the firm will add more practices next month, and it also aims to partner risk specialists.
AUTHOR
Malavika Santhebennur
Recommended for you
A financial advice firm has been penalised $11 million in the Federal Court for providing ‘cookie cutter advice’ to its clients and breaching conflicted remuneration rules.
Insignia Financial has experienced total quarterly net outflows of $1.8 billion as a result of client rebalancing, while its multi-asset flows halved from the prior quarter.
Prime Financial is looking to shed its “sleeping giant” reputation with larger M&A transactions going forward, having agreed to acquire research firm Lincoln Indicators.
An affiliate of Pinnacle Investment Management has expanded its reach with a London office as the fund manager seeks to grow its overseas distribution into the UK and Europe.
