IOOF has acquired Ability One WA/SA Pty Ltd (A1WA), a market leading provider of specialist financial and life planning services to clients who have suffered serious injury in WA & SA.
The addition of A1WA strengthens and uniquely positions IOOF’s trustee business, Australian Executor Trustees (AET), in the WA/SA compensation trust market following IOOF’s 2017 acquisition and recent integration of National Australia Trustees Limited (NATL). The NATL acquisition provides a robust and scaled operating model that also offers benefits for the A1WA clients.
Mark Oliver, IOOF General Manager Distribution, commented “The acquisition, which completed on 2 July cements a long and trusted relationship between IOOF and A1WA. It further consolidates our position as a leading trustee and advice business in WA. The strategic and cultural fit of the two organisations will greatly benefit our clients going forward.”
Former majority shareholder and A1WA Managing Director, Jon Morris, said “This announcement represents a great outcome for clients, partners, and employees of Ability One and we are excited to become part of the broader IOOF group. Having worked closely with the team at IOOF over many years it became clear that we share similar beliefs in respect of the value of advice and a focus on what matters most to clients. We look forward to supporting IOOF’s advice-led strategy.”