Connie Mckeage

Following court approval of the Scheme of Arrangement for Iress to acquire 100% of OneVue Holdings (ASX:OVH) at 43c per share, OVH today, 6 November 2020, formally transitions to Iress ownership, delisting from the ASX and capping a six year journey of significant growth since listing in 2014.

“The completion of this strategic acquisition of OneVue by Iress marks an historic moment and welcomes in a new era of further growth and the acceleration of the strategy. The strength of OneVue’s execution and service model paired with the distribution and technology leadership of Iress, dramatically hastens the execution of the strategy beyond what the two organisations could accomplish independently.

Most importantly we are very pleased that the OneVue vision will continue to unfold under Iress’ stewardship and that they are looking forward to working alongside our staff and clients. I want to thank all of our staff for their incredible contributions over the years, and our board for their support and guidance throughout our journey, particularly over recent months.” said Managing Director and Founder, Connie Mckeage.

Following the Implementation Date for the Scheme, Friday 6 November 2020, Connie Mckeage will step back from running of the business, however Connie will be retained by the Iress business in a consultancy capacity.

CFO, Ashley Fenton, and Head of People and Culture, George Ribar, who have been instrumental in the strategic growth of OneVue and the acquisition process, have elected to accept redundancies as part of the transition.

Chairman of OVH, Ron Dewhurst said “Today marks an historic moment for OneVue and the realisation of the core strategy of the group. I want to acknowledge the enormous contributions of the leadership team, in particular Ash and George who have chosen not to move across as part of the acquisition – your contributions under the most trying of circumstances have been unparalleled.

Most importantly, I want to recognise the tireless efforts, incredible vision and foresight of OneVue’s founder, Connie – it has been deeply rewarding to work alongside you. Throughout what would have been the perfect storm for any other business, it is your resilience and sheer determination that have made the difference in realising what we have achieved. I wish you and all of the OneVue team the utmost of joy and future success.”

CEO Fund and Platform Services, Richard Harris-Smith said “It has been an incredible journey to this point, and the acquisition by Iress places us in a much stronger position than ever to realise the strategy we set out to achieve.

The journey to get here hasn’t been without its challenges. We have all learnt so much from Connie and her ability to develop and drive strategy forward and her care for clients is embedded in all of us. Whilst she may no longer be our Managing Director, she will no doubt remain a part of our lives.”

The OneVue team will formally become a part of the Iress business effective from close of business Friday 6th November.

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Lisa McCallum

Mercer have appointed OneVue to be the partner going forward for the provision of member direct investing capabilities for Mercer’s clients and superannuation members.

The Mercer Direct investment service allows superannuation members to take more control over their superannuation investment strategy allowing them to invest a portion of their funds into direct assets – including direct shares, term deposits and access to a cash hub – without the complexities associated with running a self-managed superannuation fund.

The new arrangement with OneVue will allow Mercer to enhance its current direct investment offering through OneVue’s online platform and administration capabilities and will transition in the first quarter 2019.

The OneVue platform is a contemporary digital investment service supporting Advisers and Direct Investors and now superannuation members through the Mercer Direct investment offer.

The Mercer partnership also caps off strong end-of-year performance for OneVue, which saw its Platform Services FUA to $4.56 billion and was recognised in Investment Trends’ December 2017 Platform Competitive Analysis and Benchmarking Report as ranking third in full function platforms, the winner of ‘Most New Developments’ Award for the second year running and winner of ‘Product Offering’ Award.

“It’s clear superannuation members are looking for greater control over and transparency in their investments, and we’re thrilled to be able to provide that service in partnership with Mercer,” OneVue Executive General Manager Platform Services Lisa McCallum said.

“This partnership affirms OneVue’s strategy over the past year and our commitment to driving up superannuation outcomes and engagement across the board.”

Head of Superannuation Darren Stevens said Mercer was pleased to be extending their working relationship with OneVue.

“The partnership with OneVue is one of a number of initiatives that allows Mercer to provide positive member experiences to our clients and their superannuation members,” Mr Stevens said.

“We are confident that the OneVue platform and capabilities will contribute to Mercer’s continued growth and delivery of strong service outcomes to members.”

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OneVue has stepped up its cybersecurity leadership and increased its focus on planning for further growth and scale with the appointment of Anne Coull as Chief Information Officer.

Anne joins OneVue from Westpac, where she was the director of the group-wide Security Risk and Culture Program. Prior to that, Anne was the Interim Sales Director at Class Finance, the IT Organisation Integration Change Manager at AMP and Project/Program Manager at Colonial First State.

She’s also held key consulting and transformation roles with the Inari Group, KAZ and Telstra. In her 30 years in the industry, Anne has developed a keen insight and passion for new technologies and robust cybersecurity programs.

Commenting on her new role, Coull highlighted not only the importance of OneVue’s own cybersecurity approach, but also how OneVue can help its clients in this regard.

“The big players out there in the industry, in finance and telecommunications, have access to best-of-breed cybersecurity solutions, but there’s a massive gap between them and the rest of the market,” Coull explained.

“There are a lot of smaller businesses out there who just don’t know where to start, because cybersecurity is painted as a very scary and complicated thing. But at OneVue, we are fortunate to have global custodians and banks as clients and this has introduced institutional grade rigour to the table. Which means we can work with all clients, large and small, to innovate and embrace new technologies within a security aware environment.

“I’m thrilled to join a company where the data is almost entirely in Amazon Web Services, paving the way for AI and data analytics, embracing the new payments platform, and other exciting new projects while also ensuring the robust protection of client information.”

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Lisa McCallum

OneVue has been providing managed fund administration services to Allan Gray since 2014. We are pleased to announce that we have broadened our relationship and are building a private labelled version of our investment platform for Allan Gray.

Reaffirming the philosophical fit between OneVue and Allan Gray, the private label reflects OneVue’s commitment to enhancing the brand experience for its partners and Allan Gray’s dedication to its clients.

Commenting on the extended partnership, Allan Gray Australia Chief Operating Officer JD de Lange, said: “This partnership extends on our deep existing relationship with OneVue and is reflective of our mutual desire to bring greater transparency and equality of fees in superannuation and investments to investors and advisers alike.”

Lisa McCallum, OneVue Executive General Manager Platform Services, added: “The Allan Gray private label represents the breadth of service capabilities OneVue offers to its clients. We are delighted at the opportunity to bring an enhanced customer experience to complement the investment expertise of Allan Gray.”

“The breadth of OneVue’s platform functionality and investment choice enables growing financial services groups to deliver a sophisticated solution and scale their business at low cost.”

The new private label service is to launch soon to the Australian market.

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Leveraging an existing partnership between OneVue and managed account manager Watershed Funds Management, Kuda Wealth has been able to create a quality scalable client solution whilst delivering greater efficiencies in the back office.

Kuda Wealth principal Michael Davie had previously established a tailored advice service using direct equities. “Although our clients liked the personal experience and the transparency of investing directly into quality growth companies, the downside of managing disparate shares was significant. The solution was not scalable, extremely labour intensive and offering a direct equity model meant that each client’s portfolio would be rebalanced at differing times depending on the review timeframe, creating differential portfolios and performance for clients. It was a nightmare for our back office.”

After undertaking a review of his business model Mr Davie selected Melbourne-based Watershed Funds Management, a specialist managed account provider, to design and build a series of risk-based portfolios for his clients. “The Watershed Funds Management solution enables us to transition clients into six portfolios without losing the features clients liked about our investment proposition such as being able to look through to the underlying shares in the portfolio,” he said.

That transparency still gives my clients that feeling of control however my time has been freed to concentrate on interacting with clients and finding better ways to add value.
“Watershed’s investment philosophy also aligns to ours,” said Mr Davie. “Like us, Watershed believes in buying and holding quality growth stocks for the long term, with low turnover and strong diversification.”

Watershed Funds Management Managing Director Adam Rowley said: “Our specialist managed account solution favours both Australian and international equities. This enabled us to work closely with Kuda Wealth to develop a series of portfolios customised to meet the needs of Michael’s diverse high net worth client base.”

“We found OneVue’s functionality to be more advanced than other platforms, catering for clients investing in both custodially held and non-custodially held assets. We were impressed with the flexibility of OneVue’s technology. Features such as the ability to get a client’s total wealth view across a number of tax entities such as SMSFs, family trusts or business structures made it an easy sell to clients. Moving from managing direct shares and all the paperwork that comes with that to a professionally managed portfolio on platform eliminates much of the paperwork and certainly makes reporting across portfolios and tax positions much easier,” Mr Davie stated.

In this year’s Investment Trends Platform Benchmarking and Competitive Analysis Report, OneVue was the winner of the product offering category and awarded a top three platform position in Australia, overtaking many of the high profile platforms once dominating the sector. This depth and breadth of product offering resonates well with the diversity expected from high-net worth clients. The partnership between Kuda Wealth, Watershed Funds Management and OneVue demonstrates how a partnership can transform an advice business and the way advisers work with clients.

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Natasha Fenech

Following the recent announcement of the acquisition of KPMG’s superannuation member administration business OneVue has announced the sale of its SMSF administration business to SuperConcepts.

As previewed at this year’s half yearly presentation the sale of operations such as OneVue’s RE to Equity Trustees and OneVue’s SMSF business to SuperConcepts are all part of a plan to sharpen OneVue’s focus on a fewer number of core business activities.

Connie Mckeage, Chief Executive of OneVue, said, “We like the SMSF business and its people but it will not receive the management attention required to really grow the business from here. As the market leader in SMSF administration SuperConcepts will bring the focus and additional services this business needs to really move forward so we are excited for both for the SMSF team and for their clients of which I am one. We look forward to building an even closer relationship with the SuperConcepts team.”

Natasha Fenech, CEO of SuperConcepts said, “The acquisition is consistent with our growth strategy, building the scale, reach and capability of our market leading administration offering to SMSF trustees. SuperConcepts now has a comprehensive suite of product and service solutions for SMSF trustees, accountants and advisers.”

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Lisa McCallum

Innovative investment and superannuation platform provider OneVue has boosted its International Separately Managed Accounts capability by adding renowned global fund managers AllianceBernstein and Franklin Templeton Investments to its platform.

AllianceBernstein will offer its AB Concentrated Global Growth Equities and the AB Concentrated US Growth Equities portfolios as part of OneVue’s Managed Account Model Portfolio offering.

Franklin Templeton will add its Franklin Concentrated Global Equity ex-Australia portfolio to OneVue.

Jen Driscoll, AB’s Chief Executive Officer Australia, said: “OneVue is one of the few platforms in Australia actively offering global SMAs and we look forward to working with them to provide investors with the benefits of direct international share ownership, such as transparency, direct dividend cashflow and tax efficiencies, all at an affordable cost.”

Matthew Harrison, Managing Director, Franklin Templeton Investments Australia said, “Investor demand for high performing global and mid-cap equity funds continues to grow. We’re excited to have the Franklin Global Equity portfolio, a high conviction strategy, added to the OneVue platform.”

Lisa McCallum, OneVue EGM Platform Services, said: “Australian investors are increasingly demanding access to global investments to diversify their portfolios. We are very pleased to be partnering with both AllianceBernstein and Franklin Templeton who are both leading global fund managers with deep research and portfolio management expertise.”

In 2017, OneVue was recognized as the fastest mover with the most new platform developments in the 2016 Investment Trends Platform Benchmarking survey and won the Best Innovator – SMSF Adviser in the Self Managed Super Funds Awards 2017

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Connie Mckeage

OneVue has announced it has signed a 5 year extension agreement with the Madison Group’s white label WealthPortal, OneVue’s largest Platform Services client.

The signing has reinforced both parties’ commitment to continue growing and developing the WealthPortal offering which serves Madison’s 100 financial advisers nationally, as well as a growing number of non-Madison financial planning professionals who use the WealthPortal platform.

OneVue’s Platform technology underpins the WealthPortal white label offering and the partnership between Madisons and OneVue has been forged for more than a decade.

OneVue Group Managing Director Connie Mckeage commented on the agreement: “The relationship with Madisons has made us better and more focused as an investment platform provider. The Madison Group advisers and leadership often have excellent ideas to improve the platform’s functionality and user experience and their feedback is extremely valuable to us in contributing to our technology development pipeline.”

WealthPortal’s Managing Director Mark Perry said: “We are pleased to continue our long-standing partnership with WealthPortal and the Madison Group. The next five years will be the most exciting yet and the partnership we have with OneVue is built on trust and a shared vision of how we can shape the future. Over the years the partnership has enabled us to deliver a number of ‘industry firsts.’ We have a depth of industry-leading platform improvements, often initiated by our users, and we want to drive forward this agenda over the next few years with OneVue as our partner of choice.”

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Lisa McCallum

Listed financial services technology business OneVue has won the ‘Best Innovator’ award in the SMSF Adviser Category for the annual Self-Managed Super Funds Provider Awards announced in Sydney.

The awards recognise outstanding service to the self-managed super fund sector from a survey of over 850 financial advisers and accountants providing SMSF advice conducted by leading financial services research house, CoreData.

OneVue was chosen by advisers and accountants as the most innovative service provider to advisers through the strength of its proprietary platform technology, which provides a single view of all assets and liabilities and delivers market leading integrated tax reporting and administration.

CoreData principal Andrew Inwood said the ‘Innovator’ award recognised the increasing needs of advisers and accountants for a more efficient technology solution to manage SMSF portfolios, which include directly-held assets, such as property.

The research identified OneVue’s recent dashboard upgrade as a key improvement, with enhanced functionality on the OneVue platform, including ability for advisers to review all SMSF member contribution levels for a select period and by reducing the cost for investing in managed funds through the increasingly popular FUND.eXchange Lisa McCallum, EGM, Group Initiatives at OneVue, said platforms needed to continually enhance their flexibility and capability to help SMSF trustees operate reliably.

“As the SMSF industry matures platforms become more important for trustees to manage their compliance and administration needs. Over the last 12 months the momentum has really increased around our managed accounts and managed funds offering including the innovative Fund.eXchange. It is really great to get an increasing amount of
recognition for what we have systematically put in place to improve the adviser and accountant experience. We however are not complacent and will continue to launch a number of new initiatives through 2018,” said Ms McCallum.

OneVue was also recognised as the platform with the most new developments in features and functionality by researcher Investment Trends in their 2016 Platform Competitive Analysis and Benchmarking Report, which compared more than 100 investment platforms in the market.

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Richard will lead the Fund Services Operations team, focusing on enhancing service delivery to existing clients and further expanding OneVue’s innovation and operational excellence in fund administration services.

Richard joins OneVue after 18 years at Goldman Sachs, where he was Head of Funds Operations.

With 25 years’ experience in the asset management business, Richard has developed a deep understanding of unit registry, fund administration and custody operations across the Australian, European & Asian markets. Richard was previously head of the European shareholder services team for Goldman Sachs Asset Management based in London before moving to Australia in 2006 to play an integral role in the transformation of the local Asset Management business.

OneVue’s EGM Fund Services Richard Harris Smith, said: “Richard brings a wealth of operational and registry knowledge and a fantastic track record in supporting business growth while maintaining excellent service performance for existing clients. Richard’s global operational risk and controls experience adds further capability to an already strong team.”

Richard Linnegan said the appointment provides an opportunity to further leverage the scale and operational excellence of OneVue’s operations: “OneVue has a very exciting future in terms of growth and contributing to a culture of providing excellent service to its clients is something I am passionate about.”

“OneVue Fund Services is on track to double the number of fund managers and funds it manages over the next 18 months so we need to continue to hire the best people in the market,” commented Richard Harris Smith.

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