Powered by MOMENTUM MEDIA
moneymanagement logo
 
 

Madison sale completion still slated for April

OneVue/Madison-Financial-Group/sale/acquisition/M&As/ASX/australian-securities-exchange/

26 March 2020
| By Mike |
image
image image
expand image

OneVue has signalled it is still on track to complete the sale of Madison Financial Group in April. 

In an update released to the Australian Securities Exchange (ASX), OneVue said that the sale process was continuing and was expected to be completed in April. 

“Preliminary bids have been received and we expect final bids to be submitted in the next two weeks,” the ASX announcement said. 

The OneVue update to the ASX also painted the company as being in a healthy position to weather the current uncertainty with the balance sheet the best it has been in 12 months with and 96% recurring revenue. 

It said that 63% of revenue was derived from the fund services business which was not impacted by significant market volatility. 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

The succession dilemma is more than just a matter of commitments.This isn’t simply about younger vs. older advisers. It’...

6 days 4 hours ago

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

1 month ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

1 month 1 week ago

ASIC has released the results of the latest adviser exam, with August’s pass mark improving on the sitting from a year ago. ...

1 week 1 day ago

The inquiry into the collapse of Dixon Advisory and broader wealth management companies by the Senate economics references committee will not be re-adopted. ...

2 weeks 2 days ago

While the profession continues to see consolidation at the top, Adviser Ratings has compared the business models of Insignia and Entireti and how they are shaping the pro...

2 weeks 3 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND