Sydney, 25 May – Following the release of the 2023 Adviser Ratings Financial Landscape Report which ranked HUB24 first across all seven categories, the company reveals the key capabilities advisers have been asking for and how collaboration and innovation is driving efficiencies, improving transparency, and creating flexibility for advisers and their clients.
This significant industry recognition follows the Investment Trends 2022 Platform Competitive Analysis and Benchmarking Report, which awarded HUB24 top spot for Best Overall Platform, Best Reporting and Best in Online Business Management functionality. HUB24 also recently won Advised Product of the Year at the Chant West superannuation and pension awards 20231.
As the advice industry continues to evolve and respond to emerging client expectations, platforms are playing a key role in empowering advisers to deliver scalable, cost-effective, and efficient client value propositions.
HUB24 Chief Product and Innovation Officer Craig Apps said the award wins from both industry research and voted by advisers recognise HUB24’s continued investment in innovation and relentless adviser focus when developing products and solutions that deliver great outcomes for advisers and their clients.
“By listening and collaborating with advisers and licensees and embedding a culture of innovation, we’re able to deliver market-leading solutions that enhance customer engagement, create efficiencies for advisers and enable them to service new client segments.
“A good example of this is HUB24 Present, an interactive digital client presentation co-created with advisers enabling them to customise presentations in real-time and build client engagement. Users of this feature are saving more than 3.5 hours per client.
“We’ve also recently launched HUB24 SMSF Access a solution that helps advisers to service the growing demand of younger, advised clients looking to access the benefits of an SMSF, as well as adding new ESG functionality to the HUB24 Platform enabling advisers to meet the growing client demand of responsible investing.”
HUB24 recently announced the acquisition of myprosperity which is expected to accelerate their platform of the future strategy noting client portals are transforming client engagement by delivering a holistic view of household wealth and providing secure digital engagement between clients and financial professionals.
Several products and enhancements delivered to market by HUB24 originate from within the company’s innovation lab which was established in 2018.
The Innovation Lab was established to explore how emerging technologies can solve challenges for advisers and licensees and deliver better outcomes for customers.
The innovation team test and build machine learning and AI solutions, the product team then define, develop, and deliver new and enhanced products to meet emerging adviser and client needs.
Founder of Adviser Ratings Angus Wood said HUB24 was a standout, topping all categories within the Platform Benchmarking Study of the Adviser Ratings Financial Advice Landscape Report.
“The survey is conducted with advisers who rated their experience, product offer, service, and support of platform providers. This year the survey had its highest participation rate since inception.
“Advisers acknowledge HUB24’s innovative approach and ongoing investment into features and functionality as a core competency, alongside strong adviser support.”
Investment Trends Head of Research Dr Irene Guiatmatsia said the contest for top overall spot focused on the features and functionality offered to financial advisers by leading investment platforms in Australia.
“Our annual platform competitive analysis and benchmarking report is the most comprehensive study of its type in the market, representing a total of nine platforms from eight providers and is based on a face-to-face research and audit methodology, 518 criteria and weightings from extensive survey work conducted with advisers over the last nineteen years.
“HUB24’s leading position in 2022 has been underpinned by the impressive range of uplift initiatives undertaken during the review period. We have identified some 26 individual areas of new functionality that led to a score uplift including range of SMAs, reporting flexibility and cybersecurity.”
HUB24 Chief Executive Officer Andrew Alcock said it’s great to see the work being delivered by teams from across the business is having such a meaningful and positive impact on the industry and the advice community.
“Our people are empowered to think big and outside the square, an approach that enables them to tap into new and emerging technology and insights that solve problems and deliver great outcomes for licensees, advisers and their clients. This perspective is embedded in the way we develop our products and solutions. Technology and innovation is constantly evolving so we are excited about the opportunity to leverage emerging technology to enable the delivery of professional financial advice to more Australians.
For more information on HUB24’s product enhancements, please visit here.
HUB24 Present
HUB24 Present is a client reporting feature co-created with advisers to save time and improve client engagement. The feature also enables advisers to customise client presentations in real-time and allows them to have meaningful conversations with clients about their investments.
Supporting ESG investing, choice and flexibility
The new ESG ratings functionality on the HUB24 platform compliments our innovative managed portfolio stock substitution capability giving advisers the ability to tailor their investment approach to meet clients’ individual ESG investment preferences.
Rated number one for Best Overall Investment Choice by advisers, HUB24 has one of the largest investment menus on offer in the platform market with over 1,000 managed funds, exchange traded funds (EFTs) and the largest range of managed portfolios in addition to hundreds of Australian and international listed securities. To support advisers and their clients in meeting their ethical, social and governance requirements HUB24 provides over 150 ESG investment options2.
HUB SMSF Access
HUB24 SMSF Adviser is a cost-effective SMSF solution that brings together our IDPS solution (HUB24 Platform), SMSF administration (Class) and SMSF establishment (NowInfinity) capabilities to deliver a solution for advisers to meet the needs of clients who are keen to benefit from an earlier transition across to an SMSF3.
For media inquiries contact:
Natalie Pennisi
npennisi@hub24.com.au
P: 03 9275 7835
About HUB24
HUB24 Limited is listed on the Australian Securities Exchange, and includes the award-winning HUB24 platform, HUBconnect, the Xplore Platform and Class.
The HUB24 platform offers advisers and their clients a comprehensive range of investment options, including market-leading managed portfolio solutions, and enhanced transaction and reporting functionality. As one of the fastest growing platforms in the market, the platform is recognised for providing choice and innovative product solutions that create value for advisers and their clients.
HUBconnect focuses on leveraging data and technology to provide solutions to common challenges for stockbrokers, licensees and advisers and enable the delivery of professional advice to more Australians.
For further information, please visit www.HUB24.com.au
Through HUB24’s innovation lab, a machine learning and testing centre established in 2018, the company has developed a methodology for machine learning solutions to improve operational efficiency, risk management and personalised experiences for clients. As part of the solution process, HUB24 also set up at Think Tank of leading advice licensees to work together using technology and data to identify and solve major issues facing the industry.
“We will continue to invest and leverage technology like machine learning and AI, adding more data feeds and automation capabilities to our platform, evolving our product offering to meet adviser and client needs.”
1HUB24 was rated Best Overall Platform, Best Reporting and Best in Online Business Management in the 2022 Platform Competitive Analysis and Benchmarking Report
2HUB24 was rated Best Overall Investment Choice by advisers in the 2022 Adviser Ratings Australian Financial Advice Landscape Report