Ex-HFA executive forms new business

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The former managing director of HFA Asset Management has resurfaced in the financial services industry as the co-founder of a new business advisory firm.Oscar Martinis told financialobserver the new venture, Smart Business Insurance, targeted small and medium enterprise (SME) clients of accounting and financial planning firms.

“We identified a gap in the market where accountants and IFAs (independent financial advisers) can mitigate a business risk that many are unaware of,” Martinis said.

“Most accountants and IFAs do not have the capacity to look after their SME clients’ business risk needs along with their traditional service offerings.”

As a result, the businesses of accountants and IFAs are left exposed.

“General insurance brokers are often broadening their own offer to include services which have been the traditional preserve of accountants and IFAs or have referral agreements in place with the accountants’ or IFAs’ competitors,” Martinis said.

Smart Business Insurance had structured tailored partnership programs to ensure clients’ business insurance needs could be taken in-house, he said.

“Coming into the business insurance market as a 20-year veteran in funds management, I understand what is important to accountants and IFAs,” he said.

“I also acutely appreciate what they expect in terms of service, ongoing communication and professionalism.”

Smart Business Insurance would initially service Melbourne-based clients, with plans in place to open offices in Sydney and Brisbane within the next 18 months, he said.

Martinis departed HFA in 2010. – See more at: http://www.financialobserver.com.au/articles/ex-hfa-executive-forms-new-business#sthash.CFVaBSbP.dpuf