AON announces advice exit

29 April 2019
| By Mike |
image
image image
expand image

AON has announced that it is exiting its financial advice business and is selling its financial advice arm.

A management buy-out is being undertaken by Aon Hewitt Financial Advice.

Aon used a formal statement to say the company would also be exiting its aligned adviser channel in what represented a phased approach over coming months.

Commenting on the move, AON Hewitt Financial Advice general manager, Jayon Walker said the company was executing a management buy-out of the AON-owned businesses.

He said the new ownership model would allow AHFA to invest in the requirements of a specialised advice business and respond to the needs of the marketplace.

Aon made the strategic decision in 2017 to investigate its exit from the advice business and to focus on its superannuation and investment product offering.

The company entered into an 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.

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

The succession dilemma is more than just a matter of commitments.This isn’t simply about younger vs. older advisers. It’...

1 week 4 days ago

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

1 month ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

1 month 1 week ago

AMP has settled on two court proceedings: one class action which affected superannuation members and a second regarding insurer policies. ...

3 days 18 hours ago

ASIC has released the results of the latest adviser exam, with August’s pass mark improving on the sitting from a year ago. ...

1 week 6 days ago

The inquiry into the collapse of Dixon Advisory and broader wealth management companies by the Senate economics references committee will not be re-adopted. ...

2 weeks 6 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Powered by MOMENTUM MEDIA
moneymanagement logo