HUB24 completes Paragem acquisition
Publicly listed platform provider HUB24 has completed its acquisition of financial planning dealer group, Paragem.
The company announced to the Australian Securities Exchange (ASX) today that the transaction had been completed as planned and in line with the terms originally disclosed.
The ASX announcement said HUB24 and Paragem were highly complementary businesses with minimal overlap.
"Together the companies will provide a compelling home for like-minded financial advisers who value choice and the ability to freely run their own business and will jointly work to develop better, more cost effective advice, investment and superannuation outcomes for clients," it said.
Commenting on the transaction, HUB24 managing director, Andrew Alcock said his company had been pleased by the level of engagement and support it had received from Paragem advisers regarding the acquisition.
"The addition of Paragem will support further growth of our platform and assist us with the ongoing development of our core business of providing superior platform offers to financial planning groups, accountants and stockbrokers and their clients," he said.
Recommended for you
Determinations by the FSCP since the start of 2025 are almost double the number in the same period of 2024, with non-concessional contribution cap errors and incorrect advice among the issues.
Whether received via human or digital means, financial advice is reportedly leading to lower stress and more confidence, according to Vanguard.
The new financial year has got off to a strong start in adviser gains, helped by new entrants, after heavy losses sustained in June.
Michael McCorry, chief investment officer at BlackRock Australia, has detailed how investors are reconsidering their 60/40 portfolios as macro uncertainty highlight the benefits of liquid alternatives.
