HUB24 takes stake to reach HNWs

HUB24 Limited’s strategic investment in Reach Alternative Investments gives it another vehicle to attract financial advisers with high net worth (HNW) clients.

Reach Alternatives gives HUB24 a ready-made means of delivering access to private market investments at a time when recent research has confirmed solid growth in the number of high net worth investors in Australia and their average investible assets.

HUB24 Director of Strategic Development, Jason Entwistle made clear the company’s objective when he said the Reach Alternatives investment aligned with its strategy to collaborate to develop new products.

The official HUB24 announcement said it would collaborate with Reach Alternatives and potentially other industry providers to co-design innovative products and solutions to offer a broader range of alternative investment solutions for advisers and their clients.

The Reach Alternatives is comparatively young, having been registered with ASIC since 2022 but boasting solid private equity experience both at a management and board level.

The HUB24 announcement noted that the Reach Alternatives platform ws built on purpose-built technology with the firm having built strong relationships with global alternative asset managers.

Entwistle noted that accessing institutional grade alternative investments had traditionally been difficult for advisers and their clients.

Reach Alternatives chief executive, Sam Phillips said HUB24’s strategic investment validates his firm’s business and enhanced its ability to scale and bring high-quality private market investments to a broader audience.