The appointments are a part of the broader reshape of the business, allowing IOOF to be ‘fit for purpose’ both now and in the future, as the company enters a new phase of its transformation.

Key changes made are:

• Mr Frank Lombardo will assume the role of Chief Operating Officer
• Mr Darren Whereat will assume the position of Chief Advice Officer
• Mr Mark Oliver will take the new title of Chief Distribution Officer

On the changes, Mr Renato Mota, IOOF Chief Executive Officer, commented: “These promotions and changes to the Executive Team are designed to better align our teams and reflect the integration of the recent acquisition of ANZ’s Pension and Investments business (P&I). This marks the commencement of an exciting new phase of IOOF’s development.

“We are building solid foundations for IOOF’s future success. Through a purpose-led culture we continue to challenge ourselves to deliver better outcomes for clients and members. The recent increase in our size and scale through the P&I acquisition has improved our ability to invest in and deliver market leading solutions, offering more value to our clients.”

Mr Lombardo’s change in role reflects a focus on the integration of P&I as well as continued ClientFirst transformation. Mr Mota commented, “The operations function will now encompass new areas, including Transformation & Integration, a new Commercial Management capability and supporting ClientFirst thinking adoption across the IOOF enterprise.”

As Chief Advice Officer, Mr Whereat is to continue to have carriage of the Advice business, ensuring consistency and further cementing the central role advice is set to play in the company’s future strategy. Mr Mota commented that, “Mr Whereat assuming the role of Chief Advice Officer reinforces the importance of financial advice to IOOF’s strategy and in particular the transformation of advice delivery.”

Mr Oliver taking the new role of Chief Distribution Officer reinforces the increased scale and scope of IOOF’s product and client businesses following the completion of the P&I transaction as well as incorporating responsibility for Group Marketing. Mr Mota said, “Mark’s new role reflects the importance of and opportunities from the continued development of efficient and engaging solutions for advisers, investors, members and employers.”

As part of these changes, Mr Mota announced that Candice Spence, Head of Marketing, has chosen to leave the company after 14 years with the organisation. Commenting on Ms Spence’s departure, Mr Mota said, “I would like to sincerely thank Candice for her significant contribution during her time at IOOF. Candice has successfully led the marketing and communications effort for 14 years through numerous acquisitions and integrations.”

The aforementioned appointments are effective immediately.

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Mr Flynn joins IOOF having built a successful career to-date across a number of key organisational disciplines including finance, operations, risk and compliance, technology and distribution.

David brings with him a depth of experience in leading regulatory and remediation programs, and leading cross functional teams through transformational growth, having spent time at ANZ, ING Australia, Zurich and most recently BT Financial Group, where he was Program Director for Westpac Group’s large-scale Structured Advice Remediation program.

Commenting on the appointment, Darren Whereat, General Manager Advice, said “We’re very excited to have David join the team.  With his deep understanding of the regulatory and professional requirements for the industry, strong focus on governance, and extensive experience leading large teams, he will be a great addition to our Advice business”.

David will commence with IOOF on 29 April and will be based in IOOF’s Sydney office.

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Rnato Mota

IOOF Holdings Ltd (IOOF) announced on 20 July 2018 that ANZ Wealth’s aligned advice licensees and supporting teams would join IOOF on 1 October 2018, following the early completion of IOOF’s acquisition of ANZ’s Aligned Dealer Groups business.

Renato Mota, Group General Manager of Wealth Management for IOOF, said “This expansion of our advice-led capabilities, provides us with the opportunity to execute our advice-led strategy on a new scale, with a step-change in our resources and reach.

“To support the change, we have created a new wealth management structure to support the expanded capability. The new structure is designed to maximise IOOF’s ability to support the creation of higher quality, and more efficient, advice businesses of the future; while ensuring it retains a flat, agile structure and remains close to clients.

“Key to this is the newly created role of General Manager Advice. We want someone absolutely focused on ensuring that IOOF advice business is wholly committed to clients outcomes and assisting advisers deliver these.

“I am delighted to announce that Mr Darren Whereat, currently ANZ General Manager, Aligned Licensees and Advice Standards, has been appointed to this role.

“Darren is a talented and experienced professional and a passionate advocate of advice-led wealth management. He wants every Australian to not only understand the value of good financial advice but also have the confidence to access it. This is a true fit with IOOF’s purpose.”

Mr Whereat has more than 25 years’ experience in the financial services industry, having held senior management roles across Advice, Distribution and Workplace Superannuation.

In this new role, Mr Whereat will be responsible for the advice enablement teams joining IOOF from ANZ as well as IOOF’s existing teams.

Prior to his current position at ANZ, Mr Whereat was CEO of RI Advice Group for over three years and previously held senior roles in advice businesses at BT Financial Group, Asgard and MLC.

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Darren Whereat

RI Advice Group (formerly RetireInvest) yesterday announced the launch of an Estate Planning Program to its network of over 170 advisers across Australia.

Commenting on the launch, Head of RI Advice Group, Darren Whereat said: “It’s important that we connect with the next generation of our current clients and provide quality guidance on this critical family issue.

Our Estate Planning Program includes a range client engagement tools and, importantly, uses an innovative online system, ‘Estate Planning for Life’, to support advisers to broaden their client engagement model, to include the extended family unit.”

The ‘Estate Planning for Life’ system efficiently identifies estate planning gaps and generates a solicitors’ briefing note. The program not only provides peace of mind for the client but generates an action plan to empower the family to make informed decisions with guidance on important areas such ‘who do I talk to’ and ‘what questions do I ask’, in the event of a death or trauma. This action plan reduces the administrative burden and avoids any confusion during what can be a stressful time.

“This system will help advisers differentiate their offer from the execution piece that solicitors have traditionally provided.

“This is a proactive strategy to help our advisers expand their client service offers and create a more sustainable business model. Our focus on technology underpins the client engagement model and helps our advisers deliver an enhanced client experience. This Estate Planning solution is a true ‘fee for service’ offer”, said Mr Whereat.

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Commenting on the appointment, Neil Younger, ANZ’s Head of Aligned Licensees, said: “Darren will be responsible for leading an experienced regional management team that is focused on driving even greater growth for RI, building on its strong position in the market and leveraging new capabilities for clients. He is a great fit for the business with a deep understanding of self-employed advisers, their businesses and the execution of organisational growth.”

Mr Whereat is experienced in the areas of insurance, corporate superannuation and platform key account management, having previously managed Licensee Select, BT’s dealer services business, and having had responsibility for AdviserNETgain.

Mr Whereat, who will take up the role in late January, said he was impressed with ANZ’s commitment to growing and investing in Aligned Dealer Groups as well as RI’s competitive terms that position it at the forefront of post-FoFA advice solutions.

“RI is a strong brand with a long history and is an attractive proposition for advisers and their clients. I look forward to building on the success the business has had to date,” Mr Whereat said. He joins the business after Paul Campbell’s departure in early December for family reasons.

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