OAMPS Insurance Brokers has entered its first business partnership as part of a new strategy to grow its ability to offer life insurance solutions for its 120,000 business clients.
The Wesfarmers-owned company has added advisory firm Coles Financial Group (CFG) as an authorised representative.
CFG has two offices on the island, located in Burnie and Hobart, which provide life insurance and superannuation advice to both retail and corporate clients. The CFG team services businesses across Tasmania.
“This partnership represents another forward step for OAMPS in the state,” OAMPS Tasmania region manager Robyn Styles said.
“OAMPS’ general broking business has grown from strength to strength and our partnership with CFG means that we will be able to provide more of our clients with solutions that will position them to financially survive any insurable event.”
CFG was established by its sole director and principal adviser Keith Coles. The firm employs three advisers and has 2400 retail clients and 45 wholesale clients.
OAMPS is seeking to aggressively grow its business following an earlier restructure that allowed the group to add authorised representatives.
The firm is seeking to bolster new business revenue by 300 per cent by mid-2010, through the addition of a significant number of business owners to its life insurance broking operations as business partners, OAMPS head of financial management Brian Jones said.
