OneVue has partnered with Spring Financial Group (Spring FG) in what it expects to be the first of several new private label partnerships designed to strengthen and expand its self-managed superannuation fund (SMSF) footprint.
The new partnership will enable Spring FG to leverage off the wholesale superannuation solutions provider’s platform services capabilities.
“Our core platform services capability will be used to administer SMSF assets with a focus on property for Spring FG,” OneVue head of platform strategy, sales and service David Storm said last week.
“Unlike traditional platforms, OneVue has a specialist ability to administer the cash-flow elements of direct residential and commercial property.”
Spring FG managing director Keith Cullen said the company was primarily attracted to OneVue due to the firm’s property asset administration capabilities.
“After an extensive review of platform options we’re delighted to partner with OneVue to deliver asset administration services for our SMSF and non-SMSF clients,” Cullen said.
Spring FG is the latest client to join OneVue’s platform, which has added more than 200 SMSFs in the past quarter, boosting funds under administration.
“So far this year we’ve added around 500 SMSFs, with 250 of them coming from the award-winning SMSF Managers that OneVue purchased in May,” Storm said.
“We’re working with a number of new and existing clients who are looking at our functionality to deliver property asset administration solutions.”
Spring FG acquired Pink Diamond Financial Group, a specialist advice firm for medical professionals, in late August.
Prior to this, it acquired Sydney-based Moneytree Partners in May.
Spring FG had previously said it planned to continue to pursue further acquisitions and expansion in the insurance, financial advice, estate planning, accounting and tax spaces, and would consider overseas growth next year.
OneVue is a wholesale provider of services to participants in the wealth management industry, focusing on the superannuation and investment management sectors.
