Bombora ticks boxes for MBS
Keeping advice and product separate are key factors in MBS Insurance's decision to join the Bombora Advice dealer group.
MBS partner, Kris Mason, announced the risk specialist practice had joined the group earlier this week.
"The move to Bombora suits the MBS model as it separate product from advice and positions from advice and positions the practice very clearly in the independent sector — a move that will provide comfort to COIs and the accounting firm we service," Mason said.
"Being in control of our destiny was a major priority for MBS [as it is becoming for many more advice practice principals] and a further exciting outcome of the move to Bombora was the opportunity to take equity in the dealer group as a partner."
Bombora managing director, Wayne Handley, said MBS was a good ‘cultural fit' for the group.
AUTHOR
Nicholas O'Donoghue
Recommended for you
The regulator has convened multiple sitting panels of the FSCP regarding AFSL breach reports which have identified poor superannuation advice from financial advisers.
One licensee has lost 27 advisers in the past week, now sitting at zero, according to the latest Wealth Data figures.
AFCA remains firm on its stance that industry failures occurring in the financial advice sector are fundamentally an advice issue, rather than a product issue.
A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and professionalism”.
