All eyes on OneVue, Sequoia and Madison

Madison OneVue sargon merger ASX

1 June 2020
| By Mike |
image
image
expand image

Many financial planner’s eyes will today be on OneVue and the future of financial planning dealer group Madison in circumstances where OneVue entered a trading halt on Friday closely followed by publicly-listed financial services group, Sequoia.

OneVue had signalled to the market more than a month ago that it intended completing the sale of Madison before the end of May as it sought to consolidate its position after the collapse of Sargon.

Sequoia Financial Group was also impacted by the collapse of Sargon but in Friday’s trading halt request to the Australian Securities Exchange (ASX) it said that the reason for seeking the halt was the pending release of a material announcement “regarding an acquisition”.

Sequoia only recently completed the acquisition of the financial planning elements of Yellow Brick Road.

Sequoia said it expected to make an announcement before the start of trading on Tuesday.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Interesting. Would be good to know the details of the StrategyOne deal....

3 days 21 hours ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 1 day ago

increased professionalism within the industry - shouldn't that say, FAR register almost halving in the last 24 months he...

4 weeks 1 day ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

2 weeks 3 days ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

2 days 19 hours ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

1 day 22 hours ago