OneVue rejects Aviva claim of platform SMA 'first'

Platform provider OneVue has rejected a claim by Aviva this week that it has become the first platform to integrate separately managed accounts (SMAs) on a platform.

OneVue head of sales Brett Marsh said OneVue had upgraded and rebranded its APA Financial Platform to Unified Managed Account (UMA) last month, following the consolidation of SMA reporting with the portfolio administration service.

OneVue, which provides SMAs, interest administration and portfolio services, bought the platform from APA Financial in late 2008.

Marsh said OneVue UMA consolidates reporting and tax across all listed and unlisted investments as well as non-standard investments like direct property and SMAs.

He described the Unified Managed Account as “still a unique proposition in the Australian market”.

He said the initial response from advisers to the UMA has been “positive”, with five new independent dealer groups signing up in the past three months.

“We’re finding the combination of the UMA with the SMA, which was soft-launched to existing customers a few months ago, creates a scalable solution for investing in direct equity, or exposure to the Australian share market.

“The UMA gives loads of functionality for planners to advise their clients, notably in the HNW and SMSF sectors.”