IOOF names new advice head for expanded business

IOOF has announced the appointment of Darren Whereat to the newly-created role of general manager advice.

The role will be part of a new wealth management structure at IOOF following the firm's acquisition of ANZ's aligned dealer groups business, effective 1 October 2018.

Whereat, who is currently general manager of aligned dealers & advice standards at ANZ, will be responsible for the advice enablement teams joining IOOF from ANZ as well as IOOF's existing teams.

Renato Mota, group general manager of wealth management at IOOF, said: "This expansion of our advice-led capabilities, provides us with the opportunity to execute our advice-led strategy on a new scale, with a step-change in our resources and reach."

He added: "The new structure is designed to maximise IOOF's ability to support the creation of higher quality, and more efficient, advice businesses of the future; while ensuring it retains a flat, agile structure and remains close to clients."

Whereat has more than 25 years' experience in the financial services industry. Before his current role at ANZ, he was CEO of RI Advice Group for over three years and previously held senior roles in advice businesses at BT Financial Group, Asgard and MLC.

Commenting on his new appointment, Mota said: "Darren is a talented and experienced professional and a passionate advocate of advice-led wealth management. He wants every Australian to not only understand the value of good financial advice but also have the confidence to access it. This is a true fit with IOOF's purpose."