Aon has announced today that it is exiting the financial advice business and will sell its financial advice arm.
In a statement, Aon confirmed it will also exit its aligned adviser channel in a phased approach over the coming months.
“Jayson Walker, general manager, Aon Hewitt Financial Advice (AHFA) is executing a management buy-out of the Aon owned business. The new ownership model will allow AHFA to invest in the requirements of a specialised advice business and respond to the needs of the marketplace,” an Aon spokesperson said.
Aon made the strategic decision in 2017 to exit the advice business and to focus on its superannuation and investment product offering and the long-term sustainability of smartMonday.
“That decision has been reflected in Aon’s alliance with Equity Trustees and the merger of the Executive Superannuation Fund and the Aon Master Trust in 2017 to create a $5 billion superannuation partnership,” the company said.
Diverger has made an offer to acquire Centrepoint Alliance, a move that would create one of the largest licensees behind only Insignia and AMP.
The corporate regulator has outlined a key focus on product labelling and advertising.
The federal government has sought to clear up uncertainty about the status of crypto for tax purposes following the adoption of bitcoin as legal tende...
Get the latest news! Subscribe to the ifa bulletin
Get notifications in real time and stay up to date with content that matters to you.