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
The financial advice industry has enjoyed another week of strong new entrant numbers, totalling nearly 40 for the past fortnight, thanks to the latest exam passes.
Momentum Media’s wealth publishing network – comprising InvestorDaily, ifa, SMSF Adviser, Money Management, and Super Review – is proud to launch the annual Australian Wealth Management Awards.
Investment information firm Equity Story has signed a binding heads of agreement to acquire South Australian financial advisory and stockbroker Baker Young for $4.2 million.
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.