A Bombora-aligned risk specialist practice will be engaging in a joint-venture partnership with wealth management firm Pitcher Partners to refine and add specialist services for clients.
Pitcher Partners says its joint venture with risk specialist practice MBS Insurance will be marketed as Pitcher Partners Sydney Insurance Services (PPSIS), and will provide comprehensive protection solutions and consulting services for clients and business owners.
Under the new structure, both Pitcher Partners and MBS clients will have access to the collective expertise, insight and experience of a network of leading insurance practitioners, business consultants, industry experts and specialists, Pitcher Partners said in a statement.
Pitcher Partners Sydney partner Charlie Viola said the importance of insurance protection in any business undertaking or wealth creation aspiration cannot be underestimated.
“Insurance and its myriad of variations, options and offerings is highly complex and care needs to be taken to ensure that the correct product and offering is utilised to address each and every individual requirement,” Mr Viola said.
“Contrary to many of the advertisements that proclaim insurance can be purchased online or over the phone as a ‘one size fits all solution’, this is not the case in reality, especially for high-net-worth professionals and business owners.”
MBS Insurance partner Kris Mason said group insurance has not kept pace with consumer expectations, and pricing has also risen dramatically over the last few years.
“Many superannuation clients are simply not aware of the terms and conditions of their fund that can be changed by the trustee without reference to the member,” Mr Mason said.
“PPSIS will be able to provide clients with a detailed review of their insurance and advise if the cover is appropriate to their needs and expectations.”
In November last year, MBS Insurance increased its adviser team by appointing two new advisers to the firm.
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