HUB24 teams up with Patersons
HUB24 Group has announced its new partnership with stockbroking and wealth management firm, Patersons Securities, which has selected its platform solution for its national adviser network.
Its current in-house platform, Accolade, administers approximately $2.4 billion in funds under management, while the new Patersons’ branded HUB24 solution would be expected to sit alongside Accolade, providing a new retail superannuation solution for clients, the firm said.
Patersons’ chief operating officer, Jane Tandy, said that HUB24 was selected due to its “strong understanding of the private wealth and stockbroking sectors, and all-round superior platform capabilities.”
“This partnership is testament to the success of combining the expertise of Agility Applications and HUB24 to provide our clients with a comprehensive solution for their custodial and non-custodial clients,” HUB24’s managing director, Andrew Alcock, said.
“We’re delighted to be partnering with one of Australia’s oldest and most distinguished financial services firms and supporting their strategy to broaden their offer in the market.”
Patersons advises on approximately $13.5 billion in CHESS-registered assets through its 113 financial advisers across the country, with the current in-house platform, Accolade, administering approximately $2.4 billion in Funds Under Management (FUM).
AUTHOR
Oksana Patron
Recommended for you
An adviser has received a written reprimand from the Financial Services and Credit Panel after failing to meet his CPD requirements, the panel’s first action since June.
AMP has reported a 61 per cent rise in inflows to its platform, with net cash flow passing $1 billion for the quarter, but superannuation fell back into outflows.
Those large AFSLs are among the groups experiencing the most adviser growth, indicating they are ready to expand following a period of transition and stabilisation after the Hayne royal commission.
The industry can expect to see more partnerships in the retirement income space in the future, enabling firms to progress their innovation, according to a panel.
