Hub24 ramps up global offering
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.
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