Insignia Financial shakes up asset management model

9 June 2022
| By Liam Cormican |
image
image
expand image

Insignia Financial has announced the completion of the next stage of its asset management integration, developing a simplified model with two distinct investment streams.

The firm also announced MLC chief investment officer, Jonathan Armitage, would be leaving the business.

The first investment stream combined the management of diversified multi-asset strategies under a sole chief investment officer, Dan Farmer. The second would separate out directly-managed single asset class strategies under Jason Komadina, general manager for direct capabilities and specialist investment services.

The wealth management firm said the new model integrated similar investment teams while also enabling focus on each investment capability.

Garry Mulcahy, chief asset management officer of Insignia Financial, said: “We have retained exceptional talent and deep expertise within our investment teams, providing continuity for clients and key stakeholders.

“We have taken the time to deeply understand the combined investment capabilities. One year on from MLC joining Insignia Financial, we are bringing together the IOOF and MLC investment teams.

“The first investment stream brings our diversified multi-asset portfolios under a single CIO, allowing for dedicated focus on multi-asset strategies. The second stream separates out directly managed single asset class strategies of Antares Equities, Antares Fixed Income, and Property, and couples that with our managed account capabilities and specialist investment services.

“These changes will provide clear accountabilities, governance, and alignment around investment outcomes.

Mulcahy said Insignia was delighted to announce Farmer as CIO.

“Dan is a seasoned investment professional with over 30 years’ experience in investment markets and has been CIO at IOOF since 2017. He will be responsible for overseeing the investment management team and the performance they deliver to our clients.”

He said Armitage would be leaving the business to pursue the next stage of his career.

“We would like to thank him for his commitment and invaluable contribution over the past 11 years, helping to build a great team whilst delivering strong investment outcomes for our clients. Jonathan’s focus on attracting and developing investment talent has put us in a very strong position to develop and grow our business.”

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 1 week ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 1 week ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 2 weeks ago

A Sydney-based financial adviser has been banned from providing financial services in the interest of consumer protection after failing to act on conduct concerns. ...

3 weeks 6 days ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

1 day 3 hours ago

ASIC has cancelled the AFSL of a $250 million Sydney fund manager, one of two AFSL cancellations announced by the corporate regulator....

3 weeks 4 days ago