Neil Younger
Business services partner, Entireti, has acquired licensee solutions provider, IOOF Alliances from Insignia Financial, adding 70 self-licensed advisory firms and around 350 financial advisers to the group’s community.
The deal will see Entireti merge IOOF Alliances with its existing licensee-to-licensee offer, Jigsaw Advice Solutions, to form a new entity under the Entireti Alliances brand.
Entireti Alliances will support around 85 self-licensed advisory firms and over 450 financial advisers, leveraging the scale and resources of the broader Entireti group, which includes Akumin, Fortnum Private Wealth and Personal Financial Services.
It will continue to provide compliance, technology, business consulting, and education and training solutions tailored to the needs of self-licensed firms.
Neil Younger, Group Chief Executive Officer of Entireti said the launch of Entireti Alliances reinforced the group’s commitment to providing a broad suite of solutions to support various business and operating models.
“This strategic alliance brings together the industry’s two leading licensing and business services providers under one strong brand and proposition to empower self-licensed advice professionals to deliver quality advice and build strong businesses,” he said.
As part of the deal, Andy Marshall, formerly Head of IOOF Alliances, has been appointed General Manager of Entireti Alliances, reporting to Matt Lawler, Chief Executive Officer, Akumin.
According to Marshall, Entireti stood out as the right strategic fit for IOOF Alliances, as both groups share common values and goals.
“We are focused on simplifying AFSL compliance and enhancing the adviser experience through expert-led solutions and a collaborative eco-system,” he said.
“Our flexible, modular service packages enable advisers to choose the services they need from an extensive menu, based on their unique needs, and we have a diverse, collaborative community of advice professionals.
“Entireti Alliances will continue building on our strong foundations of community, professionalism and excellence in AFSL governance.”
Marshall added that around 45 per cent of IOOF Alliances’ self-licensed advisory firms had a female principal adviser, reflecting the group’s strong focus on creating an inclusive advice community.
“We didn’t deliberately set out to attract female professionals but, over time, that has naturally occurred and we are extremely proud to support so many smart, driven entrepreneurial women,” he said.
Lawler described the launch of Entireti Alliances as a continuation of the group’s evolution from licensee to business services provider.
“We provide a broad range of business solutions and professional services, and licensing is just one of the many services we provide,” he said.
“We have the necessary scale, experience and capacity to supporting advisers to deliver great advice and run great businesses.”