HUB24 launches low balance product, names portfolio managers
HUB24 has launched its Discover product for advisers working with clients with simple investment needs.
Money Management had previously covered in October that the ASX-listed platform was working on the product to offer a solution for lower balance advised clients.
The platform said the intergenerational wealth transfer and ageing population provide opportunities for advisers to evolve their advice proposition and the product is specifically targeted towards early-stage wealth accumulators, later stage retirees and clients with less complex needs.
This will complement its Core and Choice offerings and is available on HUB24 Invest, Super and Pension.
HUB24 Discover will encompass a range of passive, active and ESG managed portfolios from Betashares, Blackrock iShares, Elston, Lonsec, Morningstar, Vanguard and Zenith among others and the product was designed in association with these portfolio managers.
HUB24 director of strategic development, Jason Entwistle, said: “We’re excited to be launching our new HUB24 Discover solution. Discover complements our existing Core and Choice offers and expands our reach, providing a unique solution for advised clients seeking simplicity and affordability in their investment options – whether they’re starting out on their advice journey with their first portfolio or entering the drawdown phase.
“What’s great about Discover is the quality of the investment managers delivering a streamlined list of managed portfolios coupled with our award-winning platform features, and a competitive simplified fee structure. It’s also truly portable so as their clients’ needs evolve, advisers can easily transition them across to our Core and Choice offers with minimal unintended or costly insurance or tax consequences.”
Vanguard Australia’s head of financial adviser services, Balaji Gopal, said: “The ability to offer Vanguard’s Diversified Managed Account Strategies through HUB24’s new Discover platform simply means more choice of high-quality investment solutions for financial advisers and their clients."
Chantal Giles, head of wealth at BlackRock Australasia said: “BlackRock is excited to see the addition of its Enhanced Strategic Model Portfolios and ESG Model Portfolios to HUB24’s Discover menu options. These low-cost diversified investment solutions are key examples of how BlackRock can deliver quality portfolio construction guidance to help advisers build better portfolios for their end clients. Ultimately, it gives everyday Australians access to institutional-quality portfolios that best meet their desired investment goals."