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.
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