Bombora relationship with MBS morphs into alliance

Risk-focused financial planning licensee, Bombora Advice has vowed to continue working closely with one of its major financial planning practices, MBS Insurance, notwithstanding the fact MBS now has its own Australian Financial Service License (AFSL).

Bombora Advice founder and managing director, Wayne Handley said that although operating under separate AFSLs, the two businesses would continue to work together under a new wholesale business to business alliance.

MBS Insurance was a founding practice and equity partner in Bombora and the company’s founding partner Kris Mason will continue on the Bombora board.

Handley said that both groups would continue their close professional and operational relationship under the new alliance arrangement.

He described what had occurred as an inevitable progression and said that under the new alliance and continuing relationship MBS would access all Bombora’s business to business wholesale services and facilities including audits, committee structures, education, training, professional development days and conferences.