The company confirmed the news on Friday (10 December) after first flagging the change in October.
“To better reflect the organisation we are today, and our focus on creating financial wellbeing for all Australians – we’re excited to announce we have changed the name of our enterprise brand from IOOF to Insignia Financial,” a statement released on Friday (10 December) read.
“Insignia Financial will be our new corporate brand for our portfolio of brands, including MLC.
“You will start to see the Insignia Financial brand when you interact with IOOF staff throughout 2022 as we take a phased approach to making changes.”
In October, chief executive Renato Mota said the rebrand will reflect the “significant change” the organisation has undergone over the last two years, including the acquisition of MLC.
The costs of changing to the new corporate brand were expected to be around $2 million to $3 million, funded from the existing transformation and integration budget.
Earlier this week, the group also confirmed the completion of its legacy platforms and products onto its proprietary superannuation and investments technology platform, Evolve.
Chief distribution officer Mark Oliver called the news a “significant milestone” for advisers and clients, with the total number of client accounts on the Evolve platform ticking over 275,000 and $41 billion in funds under administration (FUA).
I am with Rob. Just received letter re DRP and embarked on mission to find out who Insignia Financial is. would have been nice to have been advised.
I’m a shareholder and I just stumbled across the name change. Would have been nice to have been told.
Does IOOF have such little regards to their investors. Is it that hard to send a media release