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McKinnis to leave Community Broker Network

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Community Broker Network (CBN) GM Strategic Partnerships and Investments David McKinnis will leave the group at the end of the month and take a short break before pursuing a new venture next year.

Mr McKinnis, a four-decade industry veteran, was previously CEO of broker group Insight, acquired by Steadfast in 2015.

Steadfast also later bought CBN, with Mr McKinnis then being tasked to oversee measures to simplify and improve systems at the network.

With more efficient systems now in place, he says “now it is probably time to hand the baton over to someone else”.

While he says it is too early to outline his plans for the future, Mr McKinnis says brokers are needed more than ever, even as they face challenges from a hard market, the COVID-19 pandemic and legislative changes flowing from the Hayne royal commission.

The sector is dividing along the paths of either heavy investment in artificial intelligence and automation, or offering a full-service advice model, he says.

Many clients rely on brokers to provide assistance, and to be almost a “pseudo business coach”, and brokers are required to ask probing questions.

“The insured really lays bare all of that for the broker, warts and all, and that helps to form a really strong relationship” he said. “I have been in the industry for 40 years and some people I dealt with 40 years ago are still good friends.”