After knocking back a takeover bid from IOOF, Hub24 is focusing on its growth, with plans to launch managed portfolios for international equities before the year's end.
Speaking to ifa, Hub24 managing director Andrew Alcock said that while Hub24 had "flown under the radar", its platform was becoming more mainstream.
"We're rated ahead of most banks in terms of our platform and we've doubled in size in the last twelve months," he said.
"We're in the process of developing managed portfolios for international equities and will have that out by the end of the year."
Mr Alcock said that Australians traditionally shy away from global stocks.
"Australia has typically had a love affair with Aussie equities, but we may not have enough exposure to international equities and to access those markets as an adviser, you'd recommend an ETF or a managed fund."
Hub24's offer will be different in that advisers can access direct stocks on an online and automated system.
Mr Alcock added that the platform provider is in the midst of manager discussions.
"We're talking to managers now, we've got two confirmed and several others that we're chatting to," Mr Alcock said, adding that he expects to have "dozens" of managers on the platform.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 16 Nov 2018Government sets $51m to pursue misconductBy Eliot Hastie
- 16 Nov 2018The financial advisers most people don’t read aboutBy James Mitchell
- 16 Nov 2018Clients expect advisers to understand their situationBy Eliot Hastie
- 16 Nov 2018Retirees hit hardest by franking credit changes, says FSCBy Sarah Simpkins
- 16 Nov 2018Trust in advice more important than everBy Stephanie Aikins
- 15 Nov 2018We’ll lose advisers through FASEA but it’s necessaryBy Adrian Flores
- view all