Aviva acquires 25% stake in Infocus
UK insurance heavyweight Aviva has acquired a 25% stake in Infocus Wealth Management, one of Australia's fastest growing financial advisory businesses.
Aviva's CEO, Allan Griffiths said that the equity stake acquisition confirms Aviva's commitment to purchasing strategic stakes in high-potential groups. Infocus Wealth Management has over A$1.2 billion in funds under administration and 30 offices around Australia. Its business strategy is built around providing tailored financial management for the individual, rather than molding the individual to the products and services of an institution. Aviva expects that the enhanced relationship with Infocus will enable it to capitalize on the group's rapid expansion through its growing national network of financial advisers. For Infocus, meanwhile, Aviva can offer the resources of a global financial services organization, including insurance and investment products, and the Navigator platform.
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