IOOF planners boosted by Premier
IOOFhas now fully bedded down a tiered support service offering to selected advisers — IOOF Premier Services (IPS) — following the launch of the initiative to planners back in August.
The service, which is mirrored byBT Financial Group’s soon to launch Premier Adviser Services, is accessible to 230 of IOOF-affiliated advisers, says national manager, portfolio services Paul Forbes.
IPS, which has been up and running since August 25, has a selection criteria for inclusion of $5 million in funds under management for the entry-level tier and rising to $15 million and then $25 million.
Forbes says the underlying benefit for advisers using the service is that it is aimed at reducing administrative costs and providing priority services.
The majority of advisers using IPS — some 60 to 70 per cent — fall within the entry-level category, with around 31 advisers receiving the top tier services, Forbes says.
“In each tier they get access to priority services and technical support, including priority in terms of communications,” Forbes says.
Those in the top tier receive access to IOOF senior management and the opportunity to contribute to the group’s strategy and planning processes.
Forbes says IOOF began building the IPS in June and has been delighted with its take-up to date, and adds that the offering is aimed at supporting the group’s best supporters.
Similarly, BT’s version of the service is a selective support initiative for non-aligned advisers with whom it has a strong relationship.
AUTHOR
Mike Taylor
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
