Handley’s Bombora signs up first practice
Bombora Advice, the boutique risk specialist planning firm set up by former Apogee managing director Wayne Handley, has signed up its first practice of six advisers, bringing them over from previous licensee Lonsdale Financial Group.
Melbourne-based practice Complete Risk Analysis (CRA) is the first group to join Handley. Their signing on formally commences the operations of Bombora, which was launched in May of this year.
Handley said that more practices would be signing with Bombora, but also stated that the growth of the new licensee was built around a strategy of managed expansion.
He said the news of the establishment of a risk-focussed, non-aligned boutique planning group had driven early interest.
CRA founding partner and principal adviser Glenn Kerr stated that a sense of ownership in their own licence and institutional non-alignment were key factors for switching licensees.
"The move to Bombora has been overwhelmingly supported by our referral partners, advisers and clients, as the benefits of specialisation and independence of institutional alignment and influence are most welcome," said Kerr.
"We wanted to be associated with a specialist, independent licensee that comprised a leadership team with hands-on industry expertise and a dedicated, focussed infrastructure to support CRA's client advice model and growth aspirations."
CRA was formed in 1998 and has six advisers and eight support staff providing advice services to the clients of 55 referring partners across Victoria and New South Wales.
Handley formed Bombora in May of this year after leaving NAB's Apogee Financial Planning early in 2012.
AUTHOR
Jason Spits
Recommended for you
Licensing regulation should prioritise consumer outcomes over institutional convenience, according to Assured Support, and the compliance firm has suggested an alternative framework to the “licensed and self-licensed” model.
The chair of the Platinum Capital listed investment company admits the vehicle “is at a crossroads” in its 31-year history, with both L1 Capital and Wilson Asset Management bidding to take over its investment management.
AMP has settled on two court proceedings: one class action which affected superannuation members and a second regarding insurer policies.
With a large group of advisers expecting to exit before the 2026 education deadline, an industry expert shares how these practices can best prepare themselves for sale to compete in a “buyer’s market”.
