Jonathan Steffanoni
Novigi has announced a decision to close specialist superannuation law advisory practice, QMV Legal.
To be formally closed on April 26, 2024, the decision follows the February 1 acquisition by Novigi of 100% of the QMV Solutions business.
Novigi CEO Ash Priest praised the founders of QMV Legal, noting the practice’s strong contribution since 2019 to superannuation fund trustees and their specialised needs for high-quality governance, regulatory compliance, and commercial legal advice.
“QMV Legal has made a significant impact, however a law offering is not quite a natural fit or aligned to our role as the data and technology partner to the superannuation and wealth sector in Australia. After careful review and in collaboration with the QMV Legal senior team, we have mutually agreed that the best option is to close QMV Legal.
“Novigi will continue to collaborate very actively with the outgoing QMV Legal team, and we welcome the news that Managing Partner Jonathan Steffanoni will bring a new superannuation law brand and offering to market. We will engage Jonathan’s new firm on a strategic retainer to support our team and clients in the regulatory and legal domains,” Mr Priest said.
Mr Steffanoni said: “Novigi and I both view the separation of legal and technology businesses as the right path to offer the best future for our clients, allowing both organisations to focus on different core areas of expertise.
“QMV Legal was established in 2019 to provide legal advice from a perspective that is closely placed to the business operations of superannuation trustees. We are grateful to have advised clients on a broad range of matters, including successor fund transfers, regulatory change and investigations, and material service provider contracts.
“As we transition from QMV Legal to establish a new independent business structure, Legal and Prudential Advisors, we will remain focused on providing expert legal, risk, and compliance advice to trustees of APRA regulated superannuation funds,” Mr Steffanoni concluded.