Non-aligned dealer group Bombora is helping keep sole-practitioner risk advice businesses prosperous in the post-FOFA and LIF era, says the principal of a Bombora-aligned practice.
Principal of dmk group, David Keavney, said the days of singe-person advice practices are far from over and that sole-practitioner businesses can still provide "immense personal and commercial benefits" for advisers.
Mr Keavney added that joining Bombora has meant he has a strong network to be able to continue to operate as a sole practitioner in a post-FOFA and LIF world.
"The decision to join leading risk specialist licensee Bombora Advice has been driven by the wish to future-proof the dmk business model in order that I can continue to provide specialist risk advice for clients," he said.
"[The business] is most definitely a boutique premium business and it has been structured to reflect my personal values and goals to grow in an organic, steady and controlled manner that will ensure clients always receive the highest standards of advice, service, attention and care," Mr Keavney said.
He added that his business will "leverage off Bombora's unique industry position, support framework, and strong relationships".
Bombora has quickly established itself as a unique and highly respected collective of risk advice businesses, and a dealer group model with excellent relationships with product providers and a willingness to contribute constructive commentary and input on industry and consumer-related matters, he said.
Managing director of Bombora, Wayne Handley, said Mr Keavney's comments were a "very strong testament" to the dealer group's model and ability to "accommodate the goals and aspirations of both large scale and one person practices".
"It is an overwhelming endorsement that we've got the offering right," Mr Handley said.
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