Risk advice businesses MBS and CRA to merge
Risk advice businesses MBS Insurance and Complete Risk Analysis (CRA) have merged as they enter a ‘new era for professional advice’, creating one of the industry’s largest risk insurance advisory businesses.
Sydney-based MBS and CRA, who were based in Melbourne, said they were confident the merged expertise, increased scale and improved efficiencies would be positive for the newly-combined businesses.
The combined risk advisory business would have approximately $55 million in premiums under management, 18 authorised financial advisers and 40 administrative staff members.
Initially the two businesses would operate under their own brands from their respective offices whilst a new corporate identity and image was developed but would be guided by a common board of directors.
The new brand and identity were expected to be announced before the end of the year.
MBS co-partners Kris Mason and Drew Burden, and CRA founding partner Glenn Kerr said: “The merger has brought two specialist businesses together with common values, cultures and a shared commitment to put clients first.
“Putting MBS and CRA together makes us far larger, gives us better scale and will deliver better benefits and reassurance to clients.”
In addition, the group has 10 formalised joint ventures and the opportunity to expand this via further strategic alliances and joint venture partnerships in the future.
AUTHOR
Laura Dew
Recommended for you
Sharing his reasoning in joining the FSC board, WT Financial chief executive, Keith Cullen, believes “product and advice cannot be separated” from each other in the current environment.
The Emerge Foundation, a charity run by financial advisers and fund managers, has announced a scholarship program to help veterans transition into tertiary education.
In an open letter, Sequoia chief executive Garry Crole has hit out against shareholders “with a personal axe to grind” as he fights for his job ahead of an EGM.
The JAWG has announced it is in talks with Treasury around five “core principles” to strengthen the education standards for new entrants to the financial advice space.
