IOOF to rebrand as Insignia Financial

IOOF will rebrand as Insignia Financial later this year as part of its $2 million to $3 million strategic brand review.

In an announcement to the Australian Securities Exchange (ASX), IOOF chief executive, Renato Mota said the rebrand was reflective of the significant change the organisation had undergone over the last two years that culminated in the acquisition of MLC Wealth in May.

“We are at an important inflection point in the transformation of IOOF. We are proud of our 175 year heritage as a friendly society and feel it is time to have our corporate brand reflect who we are today and the opportunities ahead,” he said.

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“It felt appropriate to contribute to IOOF’s enduring legacy under a new brand – one that signifies what we stand for.”

IOOF said the company would continue to trade on the ASX as IFL and anticipated the new corporate brand would cost $2 million to $3 million that would be funded from the existing transformation and integration budget.

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While I am no fan of IOOF, this is a smart move. AMP should do something similar.

So funny.

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