HUB24 opens platform service to self-directed investors
Platform provider HUB24 will extend its portfolio management tools to self-directed investors including those who chose to invest without advice or an adviser.
HUB24 managing director Andrew Alcock said the move was a recognition of the needs of self-directed investors but would also allow financial planners to offer scaled services to clients who wanted to manage their investments in conjunction with an adviser.
He said expanding the platform and portfolio management option would allow advisers to modify their own service offerings according to specific client needs or segments of their client base.
Alcock said HUB24 had already secured a launch client and as a result would transition a self-directed investor book of approximately $30 million in funds under administration to the service by 1 July 2015.
The creation of the self-directed service follows last month's launch of a white label IDPS and superannuation product for GPS Wealth.
AUTHOR
Jason Spits
Recommended for you
Bell Financial Group has appointed a chief investment officer who joins the firm from Clime Investment Management.
Private markets funds with “unattractive practices” could find themselves facing enforcement activity with ASIC chair Joe Longo stating he cannot rule it out in the future.
Despite ASIC concerns about private credit funds being accessed via the advised channel, there are questions regarding how high its usage actually is among financial advisers.
Challenger has looked to the superannuation industry for its appointment of a group chief investment officer, a newly-created role.
