IOOF and RIAA alliance to bolster support for advisers.
To strengthen its offering to advisers, dealer group Risk and Investment Advisors Australia (RIAA) has formed an alliance with financial services provider IOOF.
The partnership provides RIAA with an opportunity to capitalise on IOOF's diverse range of value-added services and market-leading financial products, RIAA chief executive Les Mace said.
"We will be working closely with our advisers to deliver a range of value-added services that help successfully manage and grow their businesses," Mace said.
"This will involve a hands on approach to ensure these services are tailored to each individual business."
The alliance between IOOF and RIAA will see the development of a co-branded product with a unique revenue-sharing arrangement, a range of practice management programs, sole platinum sponsorship position and comprehensive technical support.
IOOF portfolio solutions general manager John Billington said signing a new dealer group with the calibre of RIAA is a significant achievement for IOOF, particularly in these tough financial times.
"The group [RIAA] manages substantial funds under management and risk insurance advice, and has an enviable list of talented risk and superannuation advisors and financial planners, so we are delighted with the possibilities the partnership will bring," Billington said.
The alliance between IOOF and RIAA follows the recent announcement that IOOF and Australian Wealth Management will merge.
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