HUB24 is continuing to take full advantage of the company’s ability to rapidly extend its product and services capability with the development of new online functionality allowing self-directed investors to transact and manage their own portfolios.
There is growing interest from industry participants and new entrants in supporting the needs of self-directed investors. HUB24 believes the new functionality will not only support the direct market, but also the increasing number of clients who wish take a more active role in managing their accounts in conjunction with their financial adviser.
Andrew Alcock, Managing Director of HUB24 said “We are increasingly finding advisers are seeking more collaborative approaches to service their clients. This capability that allows investors to directly transact will support advisers to modify their service proposition based individual client needs or approaches for different client segments. It actively supports advisers and licensees who wish to develop scaled advice offerings”.
The new functionality combined with the company’s existing white label capabilities will allow industry participants and new entrants to readily make available HUB24’s market leading platform to self-directed investors as part of their market offer. As part of this new service a launch client with an existing self-directed investor book of approximately $30m in Funds Under Administration (FUA) is currently being transitioned and will be operational by 1 July 2015.
Earlier this month the company launched white label IDPS and Superannuation products for GPS Wealth within weeks of agreeing product design and commercial terms. Adviser uptake has been equally rapid with five practices already using the HUB24 platform, and the large portion of their 60 firms signalling an intention to do so.
Mr Alcock added, “Our business is continuing to grow rapidly with strong flows from advisers who include our innovative and leading platform in their service proposition. We are continuing to find new ways to support advisers and adapt to the changing landscape. The exciting part is that we are able to grow so rapidly whilst also developing new features due to the calibre of our team, our underlying technology and our comprehensive investment administration expertise. “
Issued by HUB24 Limited (ASX: HUB)
For further information please contact:
Andrew Alcock
Managing Director
HUB24 Limited
Telephone: (02) 8274 6000