Tuesday, 17 October 2017
Today ANZ announced it has reached an agreement for IOOF Holdings Limited (IOOF) to acquire ANZ’s superannuation, investments and aligned licensee businesses*. See the media release for more information.
As a result of the agreement with IOOF, all Pension and Investment platform and investment solutions currently provided by ANZ Wealth, including the OneAnswer, OneAnswer Frontier, Grow Wrap and ANZ Smart Choice Super suite of products will transition to IOOF in the future.
There is no change to our insurance business as a result of this announcement. As a dedicated insurance provider, ANZ Wealth will continue to invest in quality protection solutions for Australians through its award-winning OneCare range.
IOOF is one of the largest financial services groups in Australia with more than 500,000 customers and approximately $147 billion in funds under management, administration, advice and supervision.
As a wealth management specialist, IOOF is focused on providing high-quality advice via a large aligned adviser network and access to investment solutions via its award winning platforms.
Following today’s announcement, there is no change to the investments or super solutions currently provided. You can continue accessing these solutions with the confidence that, until the transition to IOOF, they will be managed by ANZ, one of Australia’s leading financial institutions. Following the transition, the solutions will be managed by IOOF, one of Australia’s largest financial services groups
We will keep you informed as the transaction progresses towards its scheduled completion in approximately 12 months’ time.
ANZ Wealth and IOOF value your support. Please contact your adviser or your Business Development Manager if you have any questions.
* The agreement is subject to various approvals being obtained and a number of requirements being satisfied.