IOOF Holdings Ltd.

What IOOF Holdings Ltd. does

IOOF Holdings Ltd., now operating under the parent name Insignia Financial Ltd (ASX: IFL) following a December 2021 rebrand, is an Australian wealth management group headquartered in Melbourne and founded in 1846 as the Independent Order of Oddfellows. The group provides superannuation, pension, investment, insurance, and financial advice products under multiple brands including IOOF, Expand, Rhythm, Shadforth, and MLC (MultiSeries and MultiActive), serving individual super members, employers, retirees, and a network of financial advisers. Distribution is multi-channel: B2B2C workplace super plans supported by dedicated Client Relationship Managers, an extensive adviser network, direct-to-consumer online portals (IOOF Online, Portfolio Online, Expand Online), the Transact/SuperChoice clearing house for employer contributions, and the HUB24-administered Rhythm platform.

The technology stack centres on a multi-manager investment platform offering access to over 300 managed funds, ASX300 shares, and term deposits, alongside online account access, clearing house integration, and pension administration. Core platforms include IOOF Online (Evolve-powered), Portfolio Online, Investment Central, Managed Portfolio Service (MPS), Transact clearing house, the Rhythm platform (administered by HUB24), and the IOOF mobile app, with integrations to Morningstar for performance data and DocuSign for secure document workflows. The group holds APRA RSE licensing (L0000406) and multiple ASIC AFSLs, with MySuper compliance, SuperStream adherence, and DDO/TMD obligations underpinning the regulated product suite.

Revenue is generated primarily through recurring administration fees, investment management fees on multi-manager funds, insurance premiums, financial advice fees, and transactional buy/sell spreads (0.00%–0.30%). Customer concentration is diffuse across individuals, employers, and advisers, and the business depends on Australian superannuation guarantee flows, FUM growth, member retention, and the adviser network. The group's current scale reflects transformational acquisitions of OnePath (2017), MLC Australia (2020), and the ANZ/MLC advice, super, and investment businesses (2021), with ongoing consolidation onto the Rhythm platform and active preparation for the July 2026 Payday Super legislation.

Name

IOOF Holdings Ltd.

Legal name

Insignia Financial Ltd

Website

https://ioof.com.au

Company type

Public

Founded year

1846

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

IOOF Holdings Ltd. (now Insignia Financial Ltd) is an Australian wealth management group offering superannuation, pension, investment, insurance, and advice products across IOOF, Expand, Rhythm, and MLC brands for individual members, employers, and financial advisers.

Ownership category

akta.pro rank

Product category

Wealth Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Open-End Investment Funds (525910)

SIC

Investment Advice (6282), Finance Services (6199)

akta.pro primary industry

Fund of Funds & Multi-Manager Mutual Funds (FSAAAEAL)

akta.pro secondary industry

Sub-Accounting & Platform Servicing (Omnibus, Intermediary/NSCC, Retirement Platforms) (FSAAAMAI)

Keywords

• Wealth management
• Superannuation services
• Pension products
• Investment funds
• Financial advice

Headquarters

HQ city

Melbourne

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Administration Fees: Fees charged for account administration, platform access, and account keeping services. Fee aggregation options available for family members to reduce overall administration fees.
2. Investment Management Fees: Fees from managing multi-manager investment funds, including MLC MultiSeries and MLC MultiActive products. Fees vary by fund and are deducted from fund assets.
3. Insurance Premiums: Insurance products offered through super including death, TPD, and income protection insurance. Premiums are collected through super accounts.
4. Financial Advice Fees: Fees for personal financial advice services provided through the adviser network. Includes intra-fund advice services and personal advice.
5. Transaction and Trading Fees: Buy/sell spreads and brokerage fees for investment transactions. Buy spreads range from 0.00% to 0.30% depending on the fund.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels8 records

Core offering

IOOF Holdings Ltd. operates as an Australian financial services group providing superannuation, pension, investment, and financial advice products and services. Operating under brands including IOOF, Expand, Rhythm, and MLC, the company serves individual members, employers, and financial advisers through workplace super plans, personal super accounts, pension solutions, multi-manager investment funds, and an adviser distribution network. The business is part of the Insignia Financial Group, which is listed on the ASX.

Product overview

IOOF is a comprehensive wealth management platform offered by Insignia Financial Group, comprising multiple product lines and administration platforms. The core offering includes IOOF Employer Super, IOOF Personal Super, and IOOF Pension as the primary superannuation and retirement products. These are supplemented by the Expand product suite (Expand Essential and Expand Extra variants for Super, Pension, and Investment), and the Rhythm platform (Super, Pension, and Investment) administered by HUB24. Investment capabilities are provided through MLC Asset Management, including the MLC MultiSeries (predominantly active multi-manager funds in 30/50/70/90 configurations) and MLC MultiActive (fully active multi-manager funds including diversified and single-sector options). Additional investment funds include Strategic Funds, Specialist Funds, Foundation Funds, and the MLC Cash Management Trust. The technology infrastructure includes IOOF Online (Evolve platform), Transact clearing house, and the IOOF App. The platform supports over 300 managed funds, ASX300 shares, and term deposits with insurance, fee aggregation, and advisory services.

Differentiator

Problem solved

Functional benefit

Brands

• Expand Essential: Practical, high quality, and low cost super and pension solution with essential features
• Expand Extra
• Rhythm
• Shadforth Portfolio Service
• IOOF Employer Super
• IOOF Personal Super
• IOOF Pension
• MLC MultiSeries
• MLC MultiActive

Products and services

• IOOF Employer Super

Quantifiable outcome

• Award-winning MySuper option recognized by ratings agencies
• +1 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature7 records

Partnerships

Eight partnerships are on record, tiered parent, core, minor and historical.

• Insignia Financial LtdparentOthers · 1 December 2021Insignia Financial Ltd is the parent company of the Insignia Financial Group. IOOF branded products and solutions are part of the Insignia Financial product suite. The parent company changed its name from IOOF Holdings Ltd to Insignia Financial Ltd in December 2021 following significant acquisitions.
• MLC Asset ManagementcoreTechnology or IntegrationMLC Asset Management provides investment management capabilities for IOOF's multi-manager funds including MLC MultiSeries and MLC MultiActive products. IOOF distributes these funds through its platforms while MLC Asset Management handles portfolio management and manager selection.
• HUB24coreTechnology or IntegrationHUB24 administers the Rhythm platform, providing custody services and technology infrastructure for the contemporary administration solution. Rhythm is operated by IOOF but administered by HUB24.
• SuperChoicecoreTechnology or IntegrationSuperChoice provides clearing house infrastructure supporting the Transact platform. Employers use Transact for secure, online super contributions and administration with clearing house facilities.
• ChallengerminorOthersChallenger provides guaranteed fixed-term annuities available through IOOF Employer Super, IOOF Personal Super, and IOOF Pension. Annuity terms, rates, and payment frequencies are offered for purchase within the IOOF platform.
• Actuate Alliance ServicescoreImplementation/ SI/ Consulting PartnerActuate Alliance Services provides financial advice services under their AFSL for IOOF members. They deliver general and limited non-ongoing personal advice services including simple super advice, with IOOF Investment Management Limited being the RSE Licensee.
• ANZ BankhistoricalStrategic or Co-development PartnerIOOF acquired the advice, super and investment businesses from ANZ, contributing to the organization's current scale and product offerings. This historical acquisition shaped IOOF's current position in the market.
• Navigator Australia LimitedcoreTechnology or IntegrationNavigator Australia Limited acts as Service Operator for Rhythm Investment and provides financial services under their AFSL. They are part of the IOOF/Insignia Financial group of companies.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• AMP Limited: AMP is Australia's leading wealth manager and one of IOOF's most direct competitors - both run multi-brand super, pension, investment and advised distribution businesses through employer, adviser and direct channels. AMP's platforms (North, MyNorth) and Master Trust directly overlap with IOOF Employer Super, IOOF Personal Super and the MLC MultiActive range.
• Mercer Australia: Mercer Australia provides superannuation, investment and wealth consulting services via Mercer Super and the Mercer Wealth platform, directly competing with IOOF in advised super and multi-manager investment solutions. It also overlaps with IOOF's MLC MultiSeries multi-manager proposition.
• BT Financial Group (Westpac): BT Financial Group is Westpac's wealth arm offering superannuation, investment and retirement solutions through corporate and adviser channels, competing directly with IOOF in employer super and advised wealth. BT Panorama platform overlaps with IOOF Online and Portfolio Online functionality.
• Colonial First State (CFS): CFS is one of Australia's largest super and investment platforms, offering FirstChoice and FirstWrap. It competes head-to-head with IOOF in advised super, multi-manager funds and employer default super, and serves a similar adviser network as IOOF.

Broad incumbents

• AustralianSuper: Australia's largest super fund by members and AUM, operating as a not-for-profit industry fund across accumulation and pension. While AustralianSuper is a default-fund competitor in employer super (overlapping with IOOF's MySuper offering), it does not offer the broad advised distribution or multi-manager investment menu that IOOF sells.
• HESTA: HESTA is a major industry super fund for health and community services workers, competing with IOOF for employer default mandates in the relevant sectors. It overlaps with IOOF Employer Super in MySuper-style default offerings but lacks IOOF's advised wealth and multi-manager product breadth.
• Rest Super: Rest Super is one of Australia's largest retail-industry super funds targeting particular industry segments, competing with IOOF for employer default mandates and individual accumulation/pension members. Overlap is primarily in super and pension products rather than adviser-led wealth management.
• Australian Retirement Trust (ART): Formed from the merger of QSuper and Sunsuper, ART is one of Australia's largest industry super funds and competes with IOOF for employer default mandates and individual pension members. Differentiated from IOOF by not-for-profit model and lack of adviser-channel distribution.

Emerging players

• HUB24: HUB24 is both a partner (it administers IOOF's Rhythm platform) and a competitor in the wealth-platform space via its own HUB24 platform that advisers use to custody and manage client portfolios. The two-sided relationship is a strategic tension as HUB24 continues to grow its own super and investment offerings.
• MLC Asset Management (NAB/Insignia): MLC Asset Management provides the multi-manager and investment management capabilities that power IOOF's MLC MultiSeries and MLC MultiActive products. As a fellow Insignia Financial Group entity, it is a sibling rather than pure competitor, but it also sells to non-IOOF channels, putting it in partial competition with IOOF for retail and adviser mindshare.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/ioof

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IOOF Holdings Ltd.