Praemium acquires OneVue from Iress
Platform provider Praemium has acquired the OneVue platform business from Iress.
Praemium announced the acquisition to the Australian Securities Exchange today saying it had entered into a conditional agreement to acquire 100% of the OneVue Platform business.
It said the acquisition would expand Praemium’s funds under advice by an estimated $4 billion, accelerating its growth plans and leveraging the scale of its investment platform technology and resource base.
“Additionally it will expand Praemium’s client base, increase market share and strengthen its position in the Australian platform market,” the announcement said.
The transaction is comprised of $1 million upfront and an earn-out amount of up to an additional $20 million based on growth in Funds Under Administration measured over an 18-month post-completion period.
Is BID not a thing? Is the trusted adviser based on member retention within the IFS network? What a joke.
Trustees going well hey. How much CSLR are these dodgy Super Trustees paying ? None of course, just whack Innoncent…
Ridiculous, once again the industry funds are losing so much money they need to grasp at straws to say the…
With any profession there always will be rotten apples in the barrel until they are discovered/ dealt with and prosecuted.…
Imagine if we had "Bank Aligned Adviser" But apparently this is different...... I wonder if they take the IFS Trusted…