IOOF (company)

For the international lodge, see Independent Order of Odd Fellows

IOOF Holdings Limited is an Australian financial services company which offers a range of products and services including financial advice, superannuation, investment management and trustee services. It was founded in 1846 as the Victorian branch of an international friendly society, and has its origins in the provision of sickness and funeral benefits prior to the widespread availability of government-funded welfare services.

Since demutualising in 2002 and listing on the ASX in 2003, IOOF has completed a number of mergers and acquisitions creating a significant financial services entity with more than $100 billion in funds under management, administration, advice and supervision and over 700,000 customers.^[1]

History of IOOF

IOOF Holdings Limited originated in Melbourne in 1846 as the Victoria Grand Lodge of the Independent Order of Odd Fellows, a international friendly society. By the late 1980s, the various Australian Grand Lodges of the Independent Order of Odd Fellows combined were the largest friendly society in Australia, with approximately 200,000 members.

The Victoria Grand Lodge demutualised in 2002, formed IOOF Holdings Limited, acquired Sydney-based financial services company AM Corporation, and listed on the Australian Stock Exchange (ASX) in 2003.^[2][3] In late 2006, IOOF acquired the remaining equity in Perennial Investment Partners Limited (PIPL), thereby strengthening its foothold in the funds management industry. In 2009, IOOF Holdings Limited acquired the Australian Skandia operations and merged with Australian Wealth Management Limited.^[4]

The IOOF group includes the following entities:^[5]
- Shadforth Financial Group Limited (Shadforth)
- Perennial Investment Partners
- Australian Executor Trustees
- Ord Minnett (70% ownership)
- Bridges Financial Services
- Consultum Financial Advisers
- Lonsdale
- Plan B Wealth Management

IOOF Holdings Limited (ASX:IFL) is understood to have a keen eye on acquisitions. It is thought to have recently made an informal approach to MyState Limited (ASX:MYS) for acquiring its trustee unit.

References

External links

• Official website

Odd Fellows
International fraternal orders originating in the United Kingdom in the 18th century
Governing bodies	Independent Order of Odd Fellows Independent Order of Oddfellows Manchester Unity Grand United Order of Oddfellows
Appendant bodies	International Association of Rebekah Assemblies Household of Ruth Ancient Mystic Order of Samaritans Ladies of the Orient
People	John Wilkes Sir George Savile, 8th Baronet Thomas Wildey Peter Ogden Schuyler Colfax
Buldings	List of Odd Fellows buildings
Financial services	IOOF Holdings Limited Manchester Unity Credit Union
Category:Odd Fellowship