Infocus signs on to HUB24’s investment platform
National financial advice group, Infocus Wealth Management Limited, has announced a partnership with HUB24, which will see HUB24's investment and superannuation platform deployed in a bid to boost efficiency and help strengthen the management of risk for Infocus' clients.
The collaboration sees two Australian Financial Services Licence (AFSL) holders within the Infocus Wealth Management Group, PATRON Financial Advice and Infocus Securities Australia, implement the platform across a customer base of 120 financial planning practices across the nation.
The network also currently includes 180 financial advisers with over 55,000 retail clients in Australia, with group funds under advice at $4.4 billion and risk premiums under advice totalling $67 million. Infocus Wealth Management managing director, Rod Bristow, said the move will allow the firm to deliver access to "a broad choice of platforms" for advisers and their clients across investments, superannuation and insurance.
"Our focus in supporting our fast-growing national network is to help advisers grow revenue, increase efficiency and effectively manage risk as they deliver client service," Bristow said.
"HUB24 impressed us, not just with their broad product choice, but also with their implementation efficiency."
HUB24 managing director, Andrew Alcock, identified the partnership as a key step for HUB24 in extended its branded platform offerings, in addition to its vision of becoming Australia's leading independent platform provider.
"Delivering solutions for Infocus and PATRON advisers represents another step [for us] in…changing the way advisers do business," he said.
"HUB24 has had remarkable growth over the past 12 months and this new venture reinforces the scalability and real leadership in our wrap and managed portfolio technology."
Alcock said Super, IDPS and Pension were on track to be launched later this month and will encompass the Infocus Invest bespoke portfolios, as well as a comprehensive investment menu.
Recommended for you
Sydney-based alternative fund manager East Coast Capital Management has formed its first advisory council as it enters its next phase of growth.
With 40 per cent of advice practices looking to increase their ETF usage, the next frontier being embraced is smart beta ETFs with flows doubling in July, providers have said.
Australian ETFs saw flows of $5.8 billion in July, more than double the previous month, and adviser adoption is tipped to help total flows reach $50 billion by the end of the year.
Pinnacle’s London affiliate, Life Cycle Investment Partners, has secured over $15 billion in FUM in its first year and achieved profitability, the firm’s fastest affiliate to do so.
