IOOF creates new executive advice role

In a statement, IOOF group general manager of wealth management Renato Mota said the appointment of Mr Whereat comes as part of the roll-out of a new wealth management structure in the wake of the business’ acquisition of ANZ’s aligned dealer groups.

“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 said.

“To support the change, we have created a new wealth management structure to support the expanded capability. 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.”

Mr Whereat has more than 25 years’ experience in the industry, most recently as ANZ general manager for aligned licensees and advice standards, prior to which he was chief executive of ANZ licensee RI Advice.

Earlier this year Mr Whereat gave evidence before the royal commission regarding RI Advice’s monitoring of advisers, in which he described the business’ pre-vetting controls as “unacceptable” during questioning over a case study presented by counsel assisting Rowena Orr.