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Bombora picks up first authorised rep

Start-up non-aligned dealer group Bombora Advice has announced that a Melbourne-based former LifeWise authorised representative has joined its licence, citing independence as a factor.

Risk specialist planning business Complete Risk Analysis (CRA), which according to its website was formerly licensed by the Financial Services Council-administered LifeWise dealer group, will be the first firm to join the new Bombora network, headed by former Apogee general manager Wayne Handley.

Mr Handley listed “word of mouth” and a “sound, non-aligned, boutique business model” as the key factors behind the move, which will see six advisers move over to the Bombora licence.

CRA founding partner and principal adviser Glenn Kerr said the switch in licensing arrangements was overwhelmingly positive.

“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 is most welcome,” Mr Kerr said.

Mr Handley expects more practices to join the licence in coming months.