MBS was founded in 2006 as a Life Insurance advisory practice supporting accounting firms, some of which had extended their offering to include wealth management. Maintaining a specialist focus, and recognising the value of expertise, MBS Insurance steadily grew over the next decade to proudly call more than 100 financial services firms our referring partners.

 

Prompted by industry transformation, in January 2016, MBS Insurance embarked on a five-year plan to deliver an unrivalled proposition within the IFA market. This plan involved extensive process and technological investment, internship programs across all lines of business, joint venture capabilities and developing the economies of scale to deliver better client outcomes.

The mandate to build on solid foundations included our Directors’ participation on industry advisory boards, and the successful establishment of product discounts and improved policy wording.

 

Today, MBS Insurance is one of the largest advice producers and portfolio managers of life insurance across Australia. With dedicated claims managers and new business and underwriting support teams, MBS Insurance delivers better outcomes for our clients and those of our joint venture partners. As custodians of multiple brands, and a financial product that is so inherently important to the financial wellbeing of families, our focus and discipline resides around quality advice, long-term support and ongoing management.

Philosophy and Core Values

The delivery of better client outcomes is central to all processes, procedures, and services. The need for quality and expert life insurance advice and ongoing policy management is, more than ever, an integral financial consideration for both businesses and working Australians. With the leverage our scale provides, we have the capability to deliver better outcomes.

Dedicated underwriting and claims support

Exclusive pricing arrangements

Product knowledge and inbuilt policy wording

More than 20 experienced life insurance specialist advisers

Strict internal and external compliance

MBS Insurance Growth History

MBS Insurance Growth History Graph 2022

2006

Founded in 2006 as a Corporate Authorised Representative of Lonsdale Financial Group.

Risk insurance specialist advice practice operating within a network of Accounting & Wealth Management Firms.

2008

The GFC shaped the recognition of insurance as a key financial instrument in protecting the financial position of Australians.

During a time of uncertainty, clients and their advisers became more risk conscious.

2010 to 2015

MBS continue to build strong working relationships with ~50 Accounting and Wealth Management firms.

This period would form the foundation for strength in professional relationships and future growth opportunities.

In 2012, FOFA was introduced providing greater levels of consumer protection and exposing some competing practices managing the increased cost of advice.

2016 to 2018

Perhaps the most pivotal years in the history of MBS.

The Life Insurance Framework (LIF) reforms sought to improve the quality of consumer outcomes and deliver changes to advice remuneration.

For many Life Insurance industry advisers, the changes caused challenges too great to manage. For others, these changes presented an opportunity for increased professionalism and presence.

MBS incepts joint venture model with Prime Advisory and Pitcher Partners Sydney.

MBS continues to build on the joint venture model with FMA Partners, Pharus Advisory Group, HLB Mann Judd (NSW), Cardena Private Wealth, MGI Accounting Sydney, HK Partners, Honan and Ecovis Clark Jacobs.

2019

MBS Insurance acquires Melbourne-based Risk Insurance specialist firm, Complete Risk Analysis (CRA).

DMG Financial becomes a joint venture partner and MBS acquires JBWere's Life Insurance operation.

Hayne Royal Commission recommendation further promotes the non-institutionally owned or aligned advice practices. Specialised advice and client care prevails.

2020

MBS Insurance crosses the Nullarbor and opens in Perth, Western Australia.

MBS Insurance ceases involvement and shareholding in Honan Life Insurance.

2021

MBS Insurance WA forms a joint venture with HPH Solutions (2020 FPA Professional Practice of the Year Award).

Scholten Collins McKissock becomes a joint venture partner.

MBS Insurance WA acquires Perth-based Risk Insurance business from Capital Partners