HUB24 and Clearview complete FUA transition
HUB24 has been transferred $1.4 billion in funds under administration (FUA) from ClearView’s WealthSolutions Super, LifeSolutions Super and WealthSolutions IDPS for custody and administration.
In a joint announcement, the firms said a private label investor directed portfolio service (IDPS) and superannuation wrap solution had been developed to facilitate the transition, provide investment continuity, and minimise disruption for customers.
HUB24 managing director, Andrew Alcock, said: “HUB24’s capability to seamlessly deliver large-scale transitions has once again been proven. The teams across HUB24 and ClearView have been working together to achieve this for ClearView’s customers following the launch of the white label last year. We look forward to continuing to work with ClearView on product development initiatives going forward”.
ClearView managing director, Simon Swanson, said his firm was in the middle of a multi-year transformation program to ensure they remained easy to do business with and continue to deliver high quality, fit-for-purpose life insurance, wealth management and financial advice solutions.
Recommended for you
The democratisation of alternatives funds was a key reason for Barings to consider entering the Australian wealth management market, its Australian wealth distribution head has stated.
Franklin Templeton Australia has closed two funds run by ClearBridge and Martin Currie, one of which is over 40 years old.
Australia is driving the way in active ETFs, according to Trackinsight, and active listings could outpace those of passive ones by FY26.
Fund managers are seeking to strengthen their distribution teams to target the wealth management channels, but recruiters say it can be difficult to find senior hires.
