Iress incentivised to drive OneVue post-sale FUA
Platform provider Praemium Limited yesterday completed its acquisition of the OneVue Platform Business from Iress for $1 million.
In announcing completion of the transaction to the Australian Securities Exchange (ASX) Praemium pointed out that the OneVue business currently had funds under administration of (FUA) of $4.1 billion.
It also reaffirmed that while it had paid just $1 million to Iress for the business an earn-out of up to an additional $20 million is possible based on growth in FUA measured over an 18-mnth period.
“The earn-out consideration is calculated between $3 billion and $6 billion in FUA on a straight-line basis,” the ASX announcement said.
It said that should the OneVue Platform’s current FUA of $4.1 billion be maintained, additional considerable payable would be $7.2 million.
Have a look at this guys background. Zero Financial Services experience but plenty of union and labor party experience. Wonder…
Be good to know which companies are doing these valuations and their connections to industry super as well as how…
In my opinion, those who are being asked to reveal their figures to regulators should not have any say in…
Reits need to disclose their unlisted assets how're super funds any different?
Drain the ASIC swamp. Will ASIC ever stop Killing Real Advisers as their easiest & favoured job.