Aon exits advice, confirms management buyout

In a statement, Aon confirmed it will also exit its aligned adviser channel in a phased approach over the coming months.

“Jayson Walker, general manager, Aon Hewitt Financial Advice (AHFA) is executing a management buy-out of the Aon owned business. The new ownership model will allow AHFA to invest in the requirements of a specialised advice business and respond to the needs of the marketplace,” an Aon spokesperson said.

Aon made the strategic decision in 2017 to exit the advice business and to focus on its superannuation and investment product offering and the long-term sustainability of 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,” the company said.