Key adviser fee move by HUB24

Platform provider HUB24 has pleased advisers by announcing a relabelling of adviser fees, including the removal of maximum fee limit amounts, in many instances.

In communications sent to advisers last week, HUB24 said the changes to its approach were aimed at better reflecting the type of advice and other related services that clients had consented to, but reinforced that there would be no change to the amount of any fees that clients had agreed to pay.

The changes will be incorporated into new product disclosure documentation early next month across the HUB24 Investment, HUB24 Super and HUB24 Managed Portfolio Service.

The relabelling of adviser fees comes alongside the company updating its disclosure documents in line with product and regulatory changes including providing the ability to set minimum trade sizes for trades within Managed Portfolios and making international listed securities available within Managed Portfolios

It said it would also be introducing a wholesale discretionary account facility as an extension of its HUB24 Invest offering.

The changes announced by HUB24 come just weeks after new analysis from Investment Trends have confirmed decreasing adviser loyalty to any one platform and an increasing willingness to use multiple platforms.