OneVue group chief executive Connie Mckeage said the SMSF administration business, which will remain Melbourne based, will become a subsidiary of OneVue and be rebranded ‘SMSF Managers’.

“We will be retaining all staff including client investment and SMSF services manager Peter Renner, senior accountant Salvatore Solano and accountant Adam James,” she said.

Ms Mckeage said the purchase "complements" the existing investment administration business that OneVue has and extends OneVue’s SMSF services in the areas of tax and audit.

“SMSF Managers will have the ability to grow via wholesale arrangements with partners of OneVue and the opportunity to accelerate our growth ambitions in the SMSF sector together is very appealing,” she said.

“As much as this transaction is about creating opportunities with new clients, it is also about strengthening services and increasing capabilities offered to existing clients.”