Iress sells platforms business

Posted by Anton Murray Consulting on 28 Feb, 2024


Iress has offloaded its platform business with $4 billion in funds under advice (FUA) to another ASX-listed firm. Praemium will soon be the new owner of Iress’s OneVue Platform Business (IOPB), agreeing to pay $1 million in cash and an additional $20 million over 18 months if certain milestones are met. IOPB offers financial products and services that include superannuation, non-superannuation, and custody and administration.

Last October, Iress sold its managed funds administration (MFA) business to SS&C for $52 million. Iress took over OneVue, which provided administration platforms for managed funds, superannuation, and investments, in late 2020 for $115 million. OneVue had two core divisions: funds and platform services. “Throughout the review process we have been impressed by the quality of the IOPB people and client base. The ability to transition IOPB’s clients to our existing platform technology will generate superior client outcomes, material synergies and boost eps accretion for our shareholders,” Praemium chief executive Anthony Wamsteker said.

The rest of this article can be found at

Latest market insights

Is there merit to bitcoin usurping gold allocations?

› Read more

Why fund managers need to adapt skills for competitive edge with AI

› Read more

Chair of $160bn fund appointed Australia’s new governor-general

› Read more

Perpetual welcomes new lead partner for wealth management business

› Read more

BlackRock advocates active management in new economic regime

› Read more

X feed

Our client is a large, diverse financial services firm seeking a Trading Desk Applications Support Specialist. This role will be hired on an initial 9 – 12-month contract:

We are seeking experienced candidates for a role which is responsible for the day-to-day compliance and tax reporting obligations of our client’s group in Australia and New Zealand:

Our client is a global financial institution seeking a dealers assistant to join their Australian wealth management/stockbroking department servicing their HNW clients in Adelaide:

We are seeking proactive and personable candidates with administrative experience who are interested in forging a career within financial services and property:

Sign up to our newsletter

Sign up to our newsletter

"*" indicates required fields

By subscribing to our newsletter I agree to the collection, use and disclosure of my personal information in accordance with our Privacy Policy