Six firms form national broker group

Six firms form national broker group | Insurance Business

Six firms form national broker group
Six brokers have joined forces to form a new national broking group which will fall under the Steadfast broker network, it has been announced.

The new group will be called Aviso and includes Aviso WA (Formerly IC Frith WA), Fitzpatrick & Co (VIC), Eagle (NSW), Acumen (NSW), MacMurray (TAS) and Allsafe (QLD).

The formation of the group was led by management, alongside private equity firm Envest, which holds minority interests in the six businesses.

Aviso joined Steadfast as most of the founding brokers were already members.

Barry Fitzpatrick, chairman of Aviso, said that the new group will look to embrace technology to set itself apart.

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“Aviso will be one of the first brokers with the ability to give its customers the choice of dealing online, through more traditional advice models or a combination of both,” Fitzpatrick said.

“As a national broking group, Aviso will be in a position not only to combine resources but to also make a substantial investment in technology and people. It will have greater access to insurance products, risk management solutions and niche insurance schemes across the country.”

Fitzpatrick noted that the new group has been welcomed by the wider insurance community and the scale of the firm means that it can compete with anyone in the market.

With financial backing from Envest, Fitzpatrick noted that the firm will use the funds to not only acquire new business but invest in staff and client-focused propositions.

Greg Mulllins, managing director of Envest, said that the new group will look to keep its personal touch but combine with the strength of a national group.

“It was important we struck the right balance between streamlined administrative functions and economies of scale, while maintaining local independence and the close relationships each broker has with its clients,” Mullins said.

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