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OneVue eyes industry fund market

Platform and SMSF service provider OneVue has announced plans to “extend” its services beyond the self-managed super fund sector to include industry super funds.

In a statement, OneVue said it had “opened the lines of communication” with industry funds to “create competitive advantage in the prevention of members leaving to establish SMSFs”.

“We are basically signalling to industry funds that we do have an offering suitable for them,” a OneVue spokesperson told ifa.

“We see this offering as ideal for industry funds because a lot of them are saying that [members] are exiting to create SMSFs because they want greater control and independence,” the spokesperson added.

OneVue chief executive Connie Mckeage said with the SMSF industry now worth more than $350 billion, it is hard to deny the impact it is having on the wider superannuation community.

“While there has been a lot of debate around the suitability and flexibility of certain types of super funds, we believe you should be able to retain your industry membership and if desired be able to opt for increased choice when it comes to investment making decisions,” she said.

Ms McKeage said a number of industry funds had been making “inroads” to make this possible and OneVue’s customised wealth management interface “complements” that strategy well.