The mid-tier made the launch of HLB Insurance Services official this week. The new business has been formed through a joint venture with MBS Insurance, an insurer which focuses on personal and business risk.
Andrew Kennedy, who was a practice manager in the mid-tier’s wealth division for about 10 years, will be leading the new service line.
HLB Insurance will focus on personal risk for individuals, SMSFs and business clients.
HLB Mann Judd wealth management partner, Jonathan Philpot — who was also driving the new setup — said the firm is reacting to a growing gap in the market and complexities resulting from legislative change.
“The level of change in the personal insurance market means that insurance is no longer a ‘set-and-forget’ part of client’s financial plan. Professional management and reviews of client portfolios are vital to ensure their needs and objectives are adequately covered by the strategies that have been put in place,” he said.