The Australian arm of the global financial services giant announced it will sell its finance advice branch and exit its aligned adviser channel in the next few months, in what it described as a "phased approach."
In a media statement, the company confirmed Aon Hewitt Financial Advice (AHFA) general manager Jayson Walker would execute a management buy-out of the business, allowing AHFA to "invest in the requirements of a specialised advice business and respond to the needs of the marketplace."
According to Aon, the decision to leave the advice business reflects an earlier "strategic decision" it made in 2017 to focus more on superannuation and its investment offering, including smartMonday.
That decision has been reflected in Aon's alliance with Equity Trustees and the merger of the Executive Superannuation Fund and the Aon Master Trust in 2017 to create a $5 billion superannuation partnership," Aon said.
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