Sale of Madison OneVue’s next priority
OneVue has sold down its holding in Sequoia Financial Group and has announced the sale of Madison Financial Group as its next sale priority.
The company announced to the Australian Securities Exchange (ASX) that the Sequoia stake had been sold for net proceeds of $4.36 million.
“The next priority is the sale of OneVue’s 100% secured interest in the Madison Financial Group,” it said.
The announcement quoted OneVue managing director, Connie Mckeage as stating that the company was working closely with the Madison leadership team to provide them with the necessary support to ensure that the advisers could continue servicing clients without disruption.
Recommended for you
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
In the run-up to heavy losses expected at the end of the financial year, June has already reported consecutive weeks of adviser losses.
ASIC has banned a former NSW adviser from providing advice for 10 years for investing at least $14.8 million into a cryptocurrency-based scam.
ASIC has sent warning notices to social media finfluencers who it suspects are providing unlicensed financial advice to Australians as part of a global crackdown by international regulators.
