Directors take ownership at Smith Coffey

Regulatory changes affecting general insurance broking have prompted an ownership transformation at Smith Coffey Insurance Brokers.

All principals and owners now work in the Nedlands office, after the Smith Coffey group sold off its interest in the firm last month.

Smith Coffey brokers Harry Lauren and Rod Tancred have consequently boosted their shareholding, and the third owner is now fellow director Darryl Morris.

At least another two advisors will join the firm this year, boosting staff growth to more than 30 per cent in the past two years.

The firm has already begun looking at alternative larger premises and expects to make a move by the end of the year.

A new name is also on the cards, but with the full introduction of Financial Services Reform legislation in March next year, the name change has not yet become top priority.

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