ClearView cuts key platform deal with HUB24
Platform provider HUB24 has won a key mandate, being selected by ClearView as its strategic wrap platform provider.
The two companies announced to the Australian Securities Exchange (ASX) today that under the arrangement around $1 billion in funds under management (FUA) would be migrated from the current ClearView WealthSolutions wrap platform to HUB24.
The announcement said the two companies would also collaborate on future initiatives including investment and insurance product development.
It said a heads of agreement had been executed between HUB24 and ClearView covering a number of deliverables which were planned to be implemented in stages by 31 December with the first phase involving the development and launch of a ClearView white label version of HUB24 Invest and HUB24 Super due for launch in April.
Commenting on the arrangement, ClearView managing director, Simon Swanson said the aim was to provide a new high quality, differentiated wrap-based offer to advisers and clients focused on adviser efficiency and offering choice and value for money.
“Additionally, we will be adding a number of our current products to the HUB24 platform and will be working with Hub24 to jointly develop innovative new products that leverage ClearView’s unique capabilities,” Swanson said.
He said the two companies were actively working together to progress the initiatives and finalise formal agreements which were subject to obtaining applicable superannuation trustee and responsible entity approvals as well as ensuring regulatory requirements are met.
Recommended for you
Funds managers are being urged by financial advisers to improve their “outdated” education and communication about alternative funds as they actively target them towards retail clients.
GAM Investments has appointed Eric Finnell as its managing director for Australia after his predecessor left to take up the CEO role at Global X.
Fidelity International has looked internally to appoint a head of strategic sales and solutions for its Australian division, which is a newly created role for the business.
Lonsec’s deputy CIO Deanne Baker has highlighted what investment tools the firm is harnessing to mitigate the impact of geopolitical risks in its managed account offerings.