Platform provider Investorfirst has added two non-aligned dealer groups to its HUB24 platform.
Investorfirst acting chief executive Jason Entwhistle announced the addition of Melbourne-based Unison Financial Group and Sydney’s New World Financial Advisers, which brings the number of licensees using the platform up to 42.
Both the new dealer groups have implemented customised managed portfolios using the platform’s technology, according to Investorfirst.
Mr Entwhistle said the platform’s funds under administration had grown from around $120 million to $380 million over the past 12 months due to the support of groups like Unison and New World Financial Advisers and despite recent market volatility.
“We have a strong pipeline of clients, including the previously announced white label platform for Wilson HTM,” Mr Entwhistle said.
Unison director Mark La Bozetta said the independence of HUB24 was a major consideration in the group’s decision to adopt it.
“The technology is first class and has enabled us to deliver a significant ‘value add’ to our clients,” he said.
“With the introduction of [Future of Financial Advice reforms], HUB24 has also provided us with the flexibility to deliver a complaint revenue and service model.”
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