HUB24, an Australia-based independent platform provider, has unveiled a new white label investment platform offering for financial planning group Total Financial Solutions (TFS), a wholly owned subsidiary of CountPlus.
As part of the move, Hub24 will work with the financial advisers in three of its branded platforms in 2014 to support the promotion of the white labels to new and existing clients.
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Under the agreement, the platform will be accessible to TFS’s 95 financial planners, across 53 nationwide practices that have funds under advice exceeding $2 billion.
Additionally, HUB24 has been engaged to develop and administer both IDP S and superannuation managed account or wrap offerings for TFS.
The agreement will expand the number of HUB24’s white label offerings to 8, with more than 41 licensees using the next generation platform.
Furthermore, TFS has also employed the services of asset consultant Ibbotson Associates to assist the development of a range of portfolios on Hub24’s technology.
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By GlobalDataAccording to HUB24, the three licensees will cover more than 230 financial planners Australia wide with $5 billion in funds under advice across all firms.
Andrew Alcock, CEO of HUB24 said: "HUB24’s award winning and state of the art technology allows licensees to provide unique platform solutions for their advisers and clients. We have developed three new white labels concurrently over the last quarter, allowing rapid deployment for our new licensee clients. Each has their own range of professionally managed portfolios designed to provide clients with improved investment and tax outcomes whilst generating substantial cost savings and efficiencies.
"TFS represents a major new opportunity for our firm, and we are delighted to be chosen as a key strategic partner to implement their exciting managed account initiative," he added.
