IOOF (company)

IOOF Holdings Limited is an Australian financial services company which offers a range of products and services including financial advice, superannuation, investment management and trustee services.

For the international lodge, see Independent Order of Odd Fellows
IOOF Holdings Limited
TypePublic
ASX: IFL
IndustryDiversified Financials
Founded1846
HeadquartersMelbourne, Australia
Key people
Chairman, Allan Griffiths; CEO, Renato Mota[1]
ProductsAdvice, investment, superannuation and trustee services
Owners30,000 approx.
Websitewww.ioof.com.au
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It was founded in 1846 as a friendly society and has its origins in the provision of sickness and funeral benefits prior to the widespread availability of government-funded welfare services.

IOOF demutualised in 2002 and listed on the Australian Securities Exchange (ASX) in 2003.

The IOOF group has completed a number of mergers and acquisitions creating a significant financial services entity with more than $140 billion in funds under management, administration and advice and over 500,000 customers[2]

History of IOOF

IOOF Holdings Limited originated in Melbourne in 1846 as the Victoria Grand Lodge of the Independent Order of Odd Fellows, an international friendly society. By the late 1980s, the various Australian Grand Lodges of the Independent Order of Odd Fellows combined were the largest friendly society in Australia, with approximately 200,000 members.

IOOF demutualised in 2002, formed IOOF Holdings Limited, acquired Sydney-based financial services company AM Corporation, and listed on the ASX in 2003.[3]

In 2009, IOOF Holdings Limited acquired the Australian Skandia operations and Australian Wealth Management Limited.[4]

In 2012, IOOF acquired Plan B[5] and in 2014 acquired SFG Australia.[6]

In 2018, the group acquired ANZ's Aligned Dealer Group businesses (RI Advice, Millennium 3, (M3) and Financial Services Partners (FSP)).

The IOOF group includes the following entities:[7]
  • Australian Executor Trustees
  • Bridges Financial Services
  • Consultum Financial Advisers
  • Financial Services Partners
  • Lonsdale
  • Millenium 3
  • MLC[8]
  • RI Advice
  • Shadforth Financial Group Limited (Shadforth)
  • Timetastic

References
  1. https://www.ioof.com.au/about-us/about-ioof/our-people/board-of-directors
  2. About IOOF, IOOF Holdings Limited
  3. IOOF finds climate not so friendly, The Age, 29 May 2002.
  4. Our History, IOOF Holdings Limited
  5. "IOOF to take over advisory group Plan B". NewsComAu. 1 August 2012. Retrieved 29 June 2020.
  6. "IOOF to acquire SFG". www.financialobserver.com.au. Retrieved 29 June 2020.
  7. Our brands, IOOF Holdings Limited
  8. MLC Ownership Update MLC 31 August 2020


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