ASX-listed wealth platform and administration business OneVue has stepped in to acquire 100 per cent of the shares in the financial advice subsidiary of troubled fintech Sargon, but will move to an imminent sale.
OneVue has confirmed that the secured interest in Sargon it appointed receivers PwC to protect on Tuesday includes Madison Financial Group, a 37-year old financial planning network acquired by Sargon in 2018.
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Aleks Vickovich leads the Financial Review's coverage of wealth management, specialising in the business and regulation of investment markets, financial advice and superannuation. Email Aleks at aleks.vickovich@afr.com
