OneVue has partnered with digital wealth and research subscription service Eureka Report, a wholly owned subsidiary of News Corporation, to deliver an innovative, independent investment solution in an industry first.
brightday will be a member centric digital investment solution that facilitates investment management, superannuation and pension plans. Utilising OneVue’s technology platform, brightday will provide a flexible end-to-end self managed superannuation fund (SMSF) service, retail superannuation and ability to manage non-superannuation assets.
“OneVue is excited to partner with Eureka Report to deliver a digital service that changes the way Australians manage their wealth. OneVue has a complementary relationship with Eureka Report. Eureka Report understands investors and their financial aspirations, OneVue understands wealth and technology,” OneVue Group CEO Connie Mckeage said.
“The launch of Eureka Report’s brightday represents a natural extension of OneVue as a wholesale provider of technology and services to those that service investors, including advisors and accountants. This strategic relationship with Eureka Report is part of a broader growth plan for OneVue. We are accelerating investment in our platform services division to create a step change in the industry. OneVue remains dedicated to its core customers who have supported the company for many years, and who will be able to leverage off the investment made in platform services over the past 18 months,” Ms Mckeage added.
Eureka Report Executive General Manager James Leplaw commented: “Independent research has shown that almost 10 million Australians want to take greater control of their financial future, including one million people who are considering whether a SMSF is right for them.”
“brightday was born out of a strong desire to give people greater control of their retirement savings and help make better, more informed investment choices and will be accessible to people with low superannuation balances who currently feel locked out of improving their financial future,” Mr Leplaw concluded.
The agreements with Eureka Report are for an initial five year term, with the option of a further three years. In relation to this arrangement OneVue’s prospectus included forecast funds under management of $200 million by 30 June 2015, with revenue to come from investment management and administration fees.
For full ASX announcement click here.
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