Andrew Alcock

Beacon Financial Group has chosen HUB24 to roll out a customised platform and managed portfolio offering using their award winning technology.

Beacon has more than 200 authorised representatives nationally who advise on over $3.5b worth of client assets. This new initiative will enable these advisers to access a fully branded and tailored platform service.

This latest white label further extends HUB24’s customised licensee platform and managed portfolio services, and strengthens its position as one of the fastest growing platforms in the industry.

HUB24 Managing Director Andrew Alcock said: “Partnering with a large and growing independent network such as Beacon supports our intention to be the leading platform provider in the burgeoning non-aligned advice space. We are proud to have been selected by Beacon to support their long term plans, and we believe the efficiency that HUB24’s technology brings will accelerate Beacon’s commercial objectives and enhance the value of their member firms.

“Our enduring view is that managed portfolios implemented with the right technology can offer better practice outcomes for advisers, and better advice outcomes for clients. We anticipate our partnership with Beacon will underscore this positive direction for our industry.”

It is anticipated that the service for Beacon will launch in October.

This new white label follows the release of HUB24’s annual results yesterday where the company announced Retail Funds Under Administration grew 94% during FY2016, and has now reached $3.63bn with a further increase of $320m since 30 June 2016. The company delivered three new white label offers in FY2016 for licensees and launched the white label for Wilsons earlier this month.

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