HUB24 rolls out extended offerings

The degree to which competition in the platform space is heating up has been underscored by HUB24 notifying advisers that it will be issuing new product disclosure statement documents this Friday covering an extension to its investment offerings.

In a message to advisers, HUB24 said the new PDSs would apply for HUB24 Invest, HUB24 Super and the HUB24 Managed Portfolio Service.

It said the key changes included a new investment menu for clients with lower balances and simple investments needs, a longevity solution for those approach or already in retirement phase, more options to cater for the needs of high net worth clients and a new pay anyone feature to improve efficiency around managing client accounts.

Financial advisers noted that HUB24 had introduced a Foreign Currency facility as part of its improved offering and suggested that this represented an effort to keep pace with initiatives recently announced by CFS Edge.

They also noted HUB24’s Discover ‘Nil’ administration option offering access to eight managers.

In material given to advisers, HUB24 said that its new Discover Menu complemented its Core and Choice menus and provided investors with access to a select range of managed portfolio options.

“The Discover Menu has been designed for investors with less complex needs,” it said.