A key architect of the compulsory retirement savings system lauds its many achievements, stretching from the national economy to the individual. Where it’s double faulting is in serving members – and it needs to be addressed promptly.
With performance and diversification driving demand, these funds are expected to experience four-fold global growth over the next decade to nearly $AU65 trillion.
OneVue readies itself for a listing next year
(Pictured: Connie Mckeage)
OneVue is having a busy year. The privately held company has completed a pre-IPO raising with two cornerstone investors and restructured its management following its purchase of the Computershare retail fund registry business. It announced a new senior hire from IOOF last Friday.
OneVue has merged its strategy, sales and service teams which oversee the firm’s direct-to-consumer and advisor platform offerings, and recruited David Storm to the newly created role of OneVue head of platform strategy, sales and service.
Storm joins OneVue from IOOF where he was head of distribution for Australian Executor Trustees, the SMSF provider for the IOOF group. He will work with existing sales executive Stephen Karrasch to broaden the OneVue distribution footprint in the intermediary market, with the advisor services and SMSF solutions teams now reporting through to him.
Connie Mckeage, OneVue chief executive, said: “A key consideration in merging the teams was the increasing synergies between the two channels and that many of our clients are starting to recognise the potential of leveraging these different offerings to optimise their own suite of services.”
Storm has held roles at organisations including Ord Minnett Asset Management where he was key account manager and Advance Asset Management where he was state manager for New South Wales and the Australian Capital Territory.
To get ready for the proposed IPO, Mckeage said, the company has promoted former head of strategic partnerships, Brett Marsh, to chief financial officer. The IPO, supported by Bell Securities, is expected in the first half of next year.
OneVue announced last month that it had completed $6.75 million of an $8 million capital raising program through placements to Perpetual and Thorney Investments. The remainder of the program has been set aside for existing shareholders and staff. Prior to this raising about 80 per cent of OneVue’s shares were owned by staff and directors.
Thorney Investments is a family-office-style investment firm started in the early 1990s by Alex Waislitz, also known as a long-time supporter and director of the Collingwood Football Club. The firm has close ties to the Pratt family, which Waislitz is related to. He is married to Heloise Pratt, eldest daughter of the late Richard, who also works in the business.
