HUB24 and Clearview complete FUA transition
HUB24 has been transferred $1.4 billion in funds under administration (FUA) from ClearView’s WealthSolutions Super, LifeSolutions Super and WealthSolutions IDPS for custody and administration.
In a joint announcement, the firms said a private label investor directed portfolio service (IDPS) and superannuation wrap solution had been developed to facilitate the transition, provide investment continuity, and minimise disruption for customers.
HUB24 managing director, Andrew Alcock, said: “HUB24’s capability to seamlessly deliver large-scale transitions has once again been proven. The teams across HUB24 and ClearView have been working together to achieve this for ClearView’s customers following the launch of the white label last year. We look forward to continuing to work with ClearView on product development initiatives going forward”.
ClearView managing director, Simon Swanson, said his firm was in the middle of a multi-year transformation program to ensure they remained easy to do business with and continue to deliver high quality, fit-for-purpose life insurance, wealth management and financial advice solutions.
Recommended for you
Selfwealth has provided an update on the status of its scheme implementation deed with Bell Financial Group as well as whether rival bidder Svava remains in the picture.
Magellan Financial Group has reported its first half FY25 results while appointing a new chief financial officer and promoting Sophia Rahmani to chief executive.
Schroders Australia has launched two active ETFs and plans to further expand its listed range over the year ahead.
Platform Netwealth has reported its financial results for the first half of FY25, reporting an 80 per cent increase in net flows, with its CEO viewing a “huge opportunity” from private assets.
