Insignia creates new division, hands Godfrey Pembroke to advisers

Mike Taylor

Managing Editor/Publisher, Financial Newswire

24 August 2023

Insignia Financial has declared the Godfrey Pembroke license will be returned to advisers as it announced a “strategy refresh” involving the creation of a “Client Wellbeing division”.

The announcements came on the back of the company declaring a 39% increase in net profit after tax of $51 million and underlying net profit after tax of $191 million.

Godfrey Pembroke advisers will have ownership of the brand with Insignia Financial retaining a minority stake..

On the strategy refresh, Insignia chief executive, Renato Mota said that the new division would bring together teams who currently play a significant role in shaping the client experience and will include the Professional Services Advice teams, Bridges and Shadforth.

It said the new division would be led by a Chief Client Officer who would report to the chief executive.

“The refreshed strategic pillars will create focus, clarity and prioritisation and enable Insignia Financial to harness its competitive advantages to create financial wellbeing for every Australian,” it said. “Insignia Financial has a unique set of diversified business capabilities allowing it to create specific combinations of advice, platform and asset management insights.”