SuperConcepts has announced the acquisition of OneVue’s SMSF administration business.
The firm’s chief executive, Natasha Fenech, 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.”
OneVue chief executive Connie Mckeage said the firm sold the business because it would not receive the management focus needed to expand its operations going forward.
The sale is part of OneVue’s strategy to focus on its core business activities, Mckeage said.
“As the market leader in SMSF administration, SuperConcepts will bring the focus and additional services the business needs to really move forward,” she said.
“We are excited for both the SMSF team and for their clients, of which I am one.”
OneVue’s SMSF administration business offers four core services: establishment, administration, compliance and audit services.
These services are delivered through an online investment platform, either as a package or a stand-alone service.
OneVue customers will not notice any immediate change to the way they access their funds, according to SuperConcepts.