The agreement – which is subject to approval by e-Clipse Unified Managed Account and e-Clipse Super services who currently hold approximately $650 million on behalf of Fortnum – will see a new white label developed for the advice group.
e-Clipse online head, Sal Torrisi, said the group’s partnership with Hub24 means that Fortnum can devote greater resources to servicing existing clients and recruiting new advisers.
“By working with Hub24, we can provide an efficient, low-cost investment platform and achieve meaningful scale, which will allow us to drive down costs for investors and advisers,” Mr Torrisi said.
The new platform will include both superannuation and investor-directed portfolio services with integrated custodial and non-custodial assets. The services are supported by Hub24’s consolidated reporting and transaction solutions.
Hub24 managing director Andrew Alcock said the agreement reflects the increasing popularity of Hub24’s platform as a wealth management solution.
“This is a great alignment for Fortnum and Hub24, where a high quality advice group has chosen a next-generation wealth management platform that offers unbiased choice and market-leading technology.
“The deal is further endorsement of why Hub24 is the platform of choice for independently-minded advisers,” Mr Alcock said.
