BJS looks outside in succession strategy
Melbourne-based broker BJS will continue to expand its national footprint over the next few years as it looks outside the group to build its future management.
The company, founded 15 years ago by industry veteran Ron Smith and his daughter Belinda Scott – her initials form the company’s name – has offices in Perth, Adelaide, Sydney, Brisbane, Melbourne and the Victorian centres of Wonthaggi and Frankston.
MD Bill de Vos says BJS will advise the market after June 30 about “available senior positions” within the company as it plans a succession program.
“We’ve decided we need to look outside the group to ensure we can build a really effective succession model,” he told insuranceNEWS.com.au.
“We’re an independent broker with plans to keep expanding as opportunities become available.”
BJS has more than 90 staff and annual premium of around $100 million.
Mr de Vos says the company’s stability means that some corporate accounts have been handled by the same people for the past 10 years.
“We grow our people and our staff retention levels are very high,” he said. “We work within clearly defined service models for larger corporate business, SME and retail business.”
He says BJS remains committed to being a member of the Steadfast broker group despite approaches from other broker groups. However, the company will not adopt Steadfast branding following the group’s public float.
“We already meet or exceed all the standards set by Steadfast, but we will remain an independently owned entity,” he said. “That’s where our future lies.”
Mr de Vos says the company does not have authorised representative (AR) arrangements, and doesn’t plan to adopt a suitable model to allow it to happen.
“I receive frequent calls from ARs at other brokers complaining of the lack of support or resources their principal gives them,” he said. “Most of these ARs seem unaware of the detail of the constraint provisions of their contracts.”