National licensee makes BDM hire to boost future growth
Bombora Advice has appointed David Mounsey in the newly created role of business growth and development manager.
Founder and managing director, Wayne Handley, said Mounsey will bring significant industry experience to the space that can be used to strengthen its risk offering.
Based in Melbourne, he will work to attract new practices to Bombora’s network and work with existing firms on referral relationships with professional services firms. He will also seek out potential acquisition opportunities and develop a B2B offering that will leverage the firm’s risk offering.
His previous roles include head of retail sales at TAL, where he worked for almost a decade, and head of adviser services at AIA Australia.
Bombora, which works with more than 20 advice firms nationwide, said it can envisage risk practitioners working within specialist alliance frameworks alongside accountants, lawyers and wealth advisers.
This ties into previous commentary that advice firms have much to gain from working with other specialists, a factor that is sought out by high-net-worth (HNW) clients. Research from HUB24 highlighted that HNWs are seeking to use a financial adviser as part of a professional network of specialists including accountants, brokers and lawyers.
Advisers can often act as a “connector” between various specialists and offer expertise on matters involving from portfolio construction to succession planning, with some advice firms going as far as to merge with these specialist firms.
Money Management has also previously discussed the evolution of the BDM role to have a greater relationship with financial advisers.
Mounsey said: “I’m excited to have the opportunity to contribute to Bombora’s ongoing success and to work with the organisation’s highly motivated and respected risk advice practitioners.
“The role of business growth and development manager provides me the opportunity to assist advisers and practices to enhance and lift productivity and capitalise on business opportunities in an increasingly complex and challenging financial services environment.”
Handley commented: “Time has validated for Bombora that specialisation is the foundation for long-term success and driver of a more innovative approach to delivering risk advice.
“With the appointment of David Mounsey, Bombora is well-placed to capitalise on its reputation and marketplace offer to further position Bombora as an industry leader – and leverage and expand the group’s resources and capabilities to a broader base of risk advice practitioners and practices.”
AUTHOR
Laura Dew
Recommended for you
Compared to four years ago when the divide between boutique and large licensees were largely equal, adviser movements have seen this trend shift in light of new licensees commencing.
As ongoing market uncertainty sees advisers look beyond traditional equity exposure, Fidante has found adviser interest in small caps and emerging markets for portfolio returns has almost doubled since April.
CoreData has shared the top areas of demand for cryptocurrency advice but finds investors are seeking advisers who actively invest in the asset themselves.
With regulators ‘raising the bar’ on retirement planning, Lonsec Research and Ratings has urged advisers to place greater focus on sequencing and longevity risk as they navigate clients through the shifting landscape.
