Award-winning adviser sells practice, rejoins risk firm

Mr Zelman was ifa Risk Adviser of the Year in 2015 and is also founder of the Australian Risk Advisers forum.

The move follows Mr Zelman's becoming an equity partner in risk specialist licensee Bombora Advice in December 2015.

Speaking to ifa, Mr Zelman said that risk specialist businesses will struggle as "one-man bands" in the post-Life Insurance Framework (LIF) world.

"The benefits of a truly corporatised business model should not be underestimated," he said.

"Investment in infrastructure, highly-effective staff and robust systems are becoming a must for sustainable growth to endure."

The move means Mr Zelman will reunite with former business partner and Priority Life founder David Davidson on 1 July, according to a statement.

"Rather than simply buying books of businesses, we're partnering with advice professionals we respect and we're raising the bar on what we can all achieve," Mr Davidson said.

"Business succession doesn't just happen by accident; it requires an investment but can pay huge dividends."

Priority Life is licensed under Bombora Advice whose founder, Wayne Handley, helped Mr Davidson recruit Mr Zelman in 2004, the statement said.

Adrian Flores

Adrian Flores is a deputy editor at Momentum Media, focusing mainly on banking, wealth management and financial services. He has also written for Public Accountant, Accountants Daily and The CEO Magazine.

You can contact him on [email protected].