HUB24 records 100 per cent FUM growth for FY15
Financial services company HUB24 has recorded their funds under management (FUM) growth of 100 per cent to reach $1.7 billion for the year to June 2015.
The firm also recorded a platform revenue growth of 18 per cent for the quarter ending June 2015 and a growth in FUM of 14 per cent.
The record increases for the quarter were thanks to HUB24's retail platform offerings, and licensee white label products. Net fund inflows for the quarter was recorded as $273 million (131.4 per cent growth from the year before), and had a gross inflow of $325 million (94.6 per cent growth).
Managing director, Andrew Alcock, said its success was because of their unique positioning of providing both market leading managed account functionality and market leading wrap functionality within the one platform.
"The recent update of our interfaces and the launch of SupportHUB have improved adviser and client service levels at the same time as providing further operational scale benefits during this period of rapid growth," he said.
HUB24's adviser growth jumped 40.3 per cent in June from the year before.
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