The deal will see IOOF Alliances merge with its existing licensee-to-licensee offer, Jigsaw Advice Solutions, forming a new entity under the Entireti Alliances brand.
As a result, Entireti will be supporting around 85 self-licensed advisory firms and over 450 individual advisers, “leveraging the scale and resources of the broader Entireti group, which includes Akumin, Fortnum Private Wealth and Personal Financial Services”.
“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,” said Neil Younger, group chief executive officer of Entireti.
As part of the deal, Entireti has appointed former head of IOOF Alliances, Andy Marshall, as its general manager, reporting to Matt Lawler, chief executive officer, Akumin.
Speaking on the acquisition, Marshall said it is the “right strategic fit” for IOOF Alliances due to the shared “common values and goals” of the two groups.
“We are focused on simplifying AFSL compliance and enhancing the adviser experience through expert-led solutions and a collaborative ecosystem,” he said.
He added: “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.”
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.”
