Entireti has announced the rebrand of its subsidiary to Akumin, which it said would reflect the group’s “mission to build a fresh identity and forge a new path as one of Australia’s leading non-institutional providers of licensing and business support services”.
The strategic partnership between AMP, Entireti, and AZ NGA was first announced in August, with Entireti acquiring AMP’s advice licensees and Jigsaw for $10.2 million, and AMP retaining a 30 per cent stake, while AZ NGA acquired AMP’s minority stakes in 16 advice practices for $82.5 million.
Up until now, the group had been named NewCo, with chief executive of the joint venture, Matt Lawler, telling ifa in December that the name would be announced in the first quarter of 2025.
“We are going through a rebranding process right now as we speak and we’re trying to do that involving the advisers and their staff and getting them involved in giving us feedback on what the brand should stand for, some key description words and things like that,” Lawler said.
Speaking at the group’s annual adviser conference in Brisbane on Wednesday, Lawler said the rebrand marked another significant milestone in its separation from AMP.
“The name Akumin is inspired by the professional judgement, discernment and acumen of the experienced people across our network,” he said.
“These qualities and strengths are critically important in financial advice but our businesses and people are also innovative and progressive so we wanted a brand that reflected all our unique attributes and would help us stand out in a competitive market.”
AMP CEO Alexis George added: “AMP has always believed in the life-changing benefits of quality financial advice and will continue to be an advocate for the profession as we maintain our close relationship with Akumin.”
Along with renaming the joint venture – which comprises AMP Financial Planning, Hillross, Charter Financial Planning, and Jigsaw – AMP Financial Planning will also be rebranded to Akumin Financial Planning.
According to Entireti, the rebrand followed the group engaging an external creative agency to help develop a new brand identity, “in collaboration with the group’s employees and advisers, that encapsulated its vibrant culture, long history serving Australians and bright future”.
The process, it added, involved surveys, brand workshops and one-on-one engagement, in close consultation with The Advisers Association.
“It is really exciting to start this next chapter with a new brand, and we remain focused on supporting Akumin advisers through this transition,” Entireti Group CEO Neil Younger said.
“Akumin, alongside the broader Entireti business, has exciting plans to grow and expand the range of services we deliver to advice businesses.”
Representing The Advisers Association, Scott Montefiore said advisers were highly engaged throughout the process, resulting in the creation of a “great brand”.
“Akumin captures the essence of our advice community and what we stand for,” Montefiore said.
“It is professional, modern and a good platform to build out a compelling licensee offering to advisers. We look forward to continuing to work together to represent, protect and enhance the interests of our members.”
In total, Entireti, which includes Fortnum Private Wealth, Personal Financial Services and Akumin, has around 1,300 financial advisers, 400 businesses and around 180 employees.
Whats in a name…..Genesys, Apathy sorry Apogee…..yawn…
Lipstick on a pig i would say!
The big problem with this is Barrett and Entireti have brought all the AMP cronies led by Lawler to keep running the licensee, how can anything change
While AMP keeps paying them. Lol.
Announced while at the yearly conference – in Brisbane.. Cyclone enroute… How symbolic.
I wonder how much the Brand agency charged for that ?
Let me guess. All the advisers will be progressively “encouraged” to use Entireti group SMA’s, containing AZ managed funds, administered on AMP’s North platform. Those advisers that don’t will be ostracised, and offered as sacrifices to ASIC via weaponised compliance targeting.
It’s the same old vertical integration, but better hidden, and more deviously structured to reduce regulatory risk for the providers. When things go wrong, advisers will take all the blame. (Again).
Sounds like the Industry Super Fund model…lol
Dyslexia rules! Akumin sounds cool and trendy today, but like all fads will age badly.
Peel below the surface and it’s still AMPFP.
Nice ableism allowed on this site. Well done. Hopefully IP addresses are stored for posterity.
Just AMP with a different name, they’re just trying to get rid of the stink of the AMP brand. Their contempt for clients and advisers hasn’t and won’t change.
Steve you sound bitter…?
No, those comments are just plain facts.