OneVue has said the group plans to further extend its services via acquisition across the superannuation sector, after announcing its recent purchase of an SMSF administration business.
Speaking to SMSF Adviser, OneVue head of strategy, sales and service, David Storm, said “it absolutely is” a focus for OneVue to extend its services beyond the SMSF market.
“We are looking to broaden our participation across retail, industry fund and SMSFs. We are certainly looking to grow both organically and by acquisition across the superannuation sector,” he said.
However, with OneVue expected to announce its initial public offering in the coming weeks, Mr Storm said no further acquisitions would take place in the lead-up.
“What we have looked to do is to rebrand ahead of our IPO, so we have looked to modernise our brand,” he said.
Mr Storm explained that the purchase of the SMSF admin arm of Super Managers Australia was a matter of “enhancing the OneVue brand” within the SMSF sector.
“It will create more scope and more scale, so I guess the easiest way to describe it would be [that] we are broadening our footprint in the SMSF sector,” he said.
“We are certainly looking to more fully participate in a rapidly growing SMSF sector.”
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