Since the acquisition of AMP’s financial advice business, its entities AMP Financial Planning, Charter Financial Planning, and Hillross have been operating as NewCo.
The acquisition of the advice businesses and self-licensed offering Jigsaw was announced last August for $10.2 million.
The firm has now announced the new name for the businesses will be Akumin which it said celebrates the knowledge of the advisers under the brand, selected from a shortlist of suggestions. AMP Financial Planning will also rebrand as Akumin Financial Planning.
Matt Lawler, chief executive of Akumin, said: “The name Akumin is inspired by the professional judgement, discernment and acumen of the experienced people across our network.
“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 standout in a competitive market.”
The firm appointed an external creative agency to develop the brand identity, as well as collaboration with its employees and advisers involving surveys, brand workshops and one-on-one engagement.
The Advisers Association, which represents AMP advisers, said advisers had been “highly engaged” during the process.
Neil Younger, group chief executive of Entireti, said: “It is really exciting to start this next chapter with a new brand, and we remain focused on supporting Akumin advisers through this transition. Akumin, alongside the broader Entireti business, has exciting plans to grow and expand the range of services we deliver to advice businesses.”
In total, Entireti, which includes Fortnum Private Wealth, Personal Financial Services (PFS), and Akumin, has circa 1,300 financial advisers.
Last April, Fortnum and PFS announced they had created a new parent company and overarching brand identity to operate under, called Entireti. This followed from Fortnum’s acquisition of Australian Unity’s PFS business in November 2023.
