HUB24 adds seven dealer groups to client list
HUB24 has added seven dealer groups and three separately managed account (SMA) managers to its client list, the platform provider has announced.
Ord Minnett, Paradigm, Financial Force, Avestra, Bristol Street, Gleneagles Securities and Global Prime have selected HUB24's investment platform for their advisers and brokers.
HUB24 chief executive officer Darren Pettiona said the platform also added three more SMA managers, bringing the total to 31 portfolio managers and 67 SMA funds which currently sit on the platform.
Many platform providers have recently moved to secure their distribution networks, ahead of the prospective ban on all volume rebates passed down from platforms and/or fund managers to dealer groups.
IOOF has recently acquired DKN, the Commonwealth Bank of Australia made a move on Count, while Netwealth bought Paragem Dealer Services.
"With the imminent enactment of the Future of Financial Advice reforms, an increasing number of dealer groups are seeking ways to participate in the manufacturing process," Pettiona added.
He also confirmed the release of HUB24's retail superannuation and insurance options targeted for later this year, in addition to a self-managed super fund administration service that is already integrated into the HUB24 Investment Service.
Money Management Top News Stories
News: Regulatory change generating return to a tied-agency past
News: S&P downgrades 13 strategies in multi-asset sector review
News: IPA partners with MLC and AXA
News: Pragmatic approach to reform needed: Shorten
Latest Edition: Calls for greater superannuation transparency
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
