A new authorised representative network, repX, is offering members financial advice for their businesses in addition to typical broking-related support services.

The repX team includes CEO Max Seery, COO Stacy Finnegan, CFO Chloe Martin and GM Angela O’Neil, who joined this month after working at Resilium. 

Mr Seery, also a director at Ballarat-based Remingtons Insurance Brokers, has identified opportunities in the AR area, and repX is looking to expand next year in a phased approach.  

COO Ms Finnegan, who joined in July to help lay the network’s foundations, says repX will provide bespoke support to ensure member businesses’ long-term success, supplementing services such as licensing, compliance and efficient technology systems.

“You can be a successful AR but not be set up correctly,” she told insuranceNEWS.com.au. “We have access to the capital to help them and the financial and planning advice of people who actually understand ARs.”  

Ms Finnegan has spent more than three decades in the insurance profession. Previous roles have included Aon national director for ARs, and she has worked at Community Broker Network, Allianz Australia and Marsh.

Privately owned repX, a member of Steadfast, operates under the financial services licence of SMS Insurance, whose stakeholders include Max and Mark Seery.

The network has had some early discussions with potential member businesses. 

“We want the right people and we want them to be saying it was a great decision,” Ms Finnegan said. 

Another AR group, BMIA Broker Network, launched a few months ago and the sector is growing its share of the intermediated market. 

Ms O’Neil says authorised representatives have “skin in the game” and offer great service for clients, and the repX business offers a different approach to providing support. 

“[It is] thinking, ‘How can we look after the ARs holistically?’ rather than just as a broker, and for me it’s about, what can I do differently for the authorised reps?” she said. 

“I am always so impressed by what they do and how they do it.”

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