[5] In March 2024, Insignia Financial Ltd confirmed that Scott Hartley will take the reins as Chief Executive Officer after the resignation of Renato Mota.

[2] Originally named the 'Independent Order of Odd Fellows', IOOF was brought to Australia and established in Sydney in 1836, but was quickly abolished by the disruption to society caused by the gold rush in Victoria.

[8] In fact, a paper published by the Liverpool University Press in 1909 showed that an estimate of approximately 500,000 people were members of a friendly society.

As government assistance became more prevalent and tax benefits once given to the societies' insurance bond dwindled, it became more economically beneficial to become a customer rather than a member.

CEO at the time Rob Turner stated that the "strong affirmative vote at Over 50s will mean an early review of the option for the society.".

IOOF originally announced the plan to acquire OnePath in on 17 October 2017 with the company entering a trading halt pending the capital raising of $450m through institutional placements.

[14][15] In August 2020, announced it had agreed terms to purchase wealth management business MLC from the National Australia Bank.

[19] The foundation provides grants that aid Australian not-for-profit organisations primarily working with disadvantaged families, youth and aged care.

At the annual general meeting, almost one-fifth of shareholders voted against IOOF's remuneration report amidst ongoing concerns from investors.

[22] According to APRA, IOOF allegedly made an accounting error which resulted in members not receiving the full amount they were entitled.

In light of the publication of the scandal, the value of IOOF fell $900 million with its share price falling 35.4 per cent, to a nine-year low.