IOOF and RIAA announce alliance
IOOF Holdings has signed an alliance with dealer group Risk and Investment Advisers Australia (RIAA).
“Signing a new dealer group the calibre of RIAA is a significant achievement for IOOF, particularly in these tough financial times. The group manages substantial funds under management and risk insurance advice and has an enviable list of talented risk and superannuation advisers and financial planners, so we are delighted with the possibilities the partnership will bring,” said John Billington, general manager of IOOF Portfolio Solutions.
IOOF and RIAA will develop a co-branded product with a revenue sharing arrangement, technical support, sole platinum sponsorship position, and a range of practice management programs.
Les Mace, the chief executive of RIAA, said the alliance would allow the company to enhance its offering to advisers by capitalising on IOOF’s diverse range of value-added services and market-leading financial products.
“We will be working closely with our advisers to deliver a range of value-added services that help successfully manage and grow their businesses,” Mace said.
“Partnering with IOOF will allow us to do this more successfully — providing RIAA and its advisers with tailored resources and products,” he said.
AUTHOR
Mike Taylor
Recommended for you
ASIC has cancelled the AFSL of a Perth financial services firm following payments to its clients by the Compensation Scheme of Last Resort after a failed managed investment scheme.
Bravura chief executive Andrew Russell has announced he will be stepping down from the company, just under two years after his appointment.
Financial advice businesses with a younger, wealthier client base are enjoying higher valuations and increased attention from potential buyers than those with older clients.
A financial advice firm has been penalised $11 million in the Federal Court for providing ‘cookie cutter advice’ to its clients and breaching conflicted remuneration rules.
