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.
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Jason Spits
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