IOOF appoints head of advice governance

A director of Westpac's advice remediation program has been appointed to lead advice governance at IOOF.

David Flynn is set to link with the wealth manager later this month as its new head of advice governance, replacing Adrian Kwa who is set to become national head of advice at Shadforth Financial Group.

An IOOF spokesperson today confirmed Kwa would remain in charge of advice governance at the wealth manager until the end of April, in order to ensure an orderly transition to Flynn.

Flynn joins IOOF after almost 12 months at BT Financial Group, where he led Westpac's large-scale structured advice remediation program.

Previously, Flynn served at van Eyk where he was head of finance and operations, and ANZ as head of operations and projects for the bank's aligned licensees.

Earlier he spent three years at ING as chief financial officer in its RI Advice group.

IOOF advice general manager Darren Whereat said Flynn would add much to the firm's advice business.

"We're very excited to have David join the team," he said.

"With his deep understanding of the regulatory and professional requirements for the industry, strong focus on governance, and extensive experience leading large teams, he will be a great addition to our advice business."

The announcement comes as managing director Chris Kelaher departs the company in a move described as being in the firm's best interests. Late last year APRA sought to impose license conditions and disqualify Kelaher and four other IOOF executives.

"In the interests of the company, it is time for IOOF to move forward under new leadership. I wish the company every success in the future," Kelaher said yesterday.

Read more: IOOFINGWestpacAPRABT Financial GroupChris KelaherDarren WhereatDavid FlynnRI Advicevan Eyk
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