Aon to Exit Financial Advice Business

Aon Australia has announced this week it will be closing down its financial advice arm, including Aon Hewitt Financial Advice (AHFA).

Aon Hewett Financial Advice GM, Jayson Walker …executing a management buyout of the advice business

AHFA is Aon Australia’s self-employed adviser network, which it says will be sold to AHFA GM, Jayson Walker, by way of a management buy-out.

The multi-faceted insurance firms says its AHFA AFSL will be wound down over the next six months. It also notes that the new advice business under Walker’s control will initially operate under the Aon Hewett name, but will transition to a new licensee of its choosing as soon as practical.

Aon has also stated that, although it is exiting the financial advice business, it will continue to work closely with the new advice firm in order to best serve their respective clients.