SuperConcepts has announced the acquisition of OneVue’s SMSF administration business.

Natasha Fenech, CEO of SuperConcepts said, “The acquisition is consistent with our growth strategy, building the scale, reach and capability of our market leading administration offering to SMSF trustees.  SuperConcepts now has a comprehensive suite of product and service solutions for SMSF trustees, accountants and advisers.”

OneVue’s SMSF administration business offers four core services, including establishment, administration, compliance and audit services.  These services are delivered through an online investment platform, either as a package or standalone services.

Connie Mckeage, Chief Executive of OneVue, said, “We like the SMSF business and its people but it will not receive the management attention required to really grow the business from here.  As the market leader in SMSF administration SuperConcepts will bring the focus and additional services this business needs to really move forward so we are excited for both for the SMSF team and for their clients of which I am one.  We look forward to building an even closer relationship with the SuperConcepts team.”

The sale of OneVue’s business is part of its plan to focus on a fewer number of core business activities.

OneVue customers will not notice any immediate change to the way they access their funds.

The SMSF industry is the largest segment of Australia’s superannuation market, now representing more than $700 billon in assets.