Aberdeen partners with HUB24 on ‘bionic’ advice

In a statement, Aberdeen said it will also provide a range of managed portfolio solutions on HUB24’s platform to help advisers meet client savings accumulation, investment and retirement income needs.

It said it plans to provide HUB24 with the first customised solution to support advisers to better serve clients, followed by a solution for employers who want to give employees tools to better manage their finances and access to cost-effective financial advice.

Further, Aberdeen said another offering that helps advisers to provide customised retirement income solutions will be made available in early 2021.

Aberdeen Australia managing director Brett Jollie said the HUB24 partnership was a first step that would change the face of traditional financial planning and investing in Australia.

“Not only does it provide a means for advisers to stay connected with more clients, it will also provide advisers with the tools to support more clients with their long-term savings. Baby Boomers about to retire need reliable and personalised retirement income solutions,” Mr Jollie said.

“Improving the efficiency of the advice journey, combined with more informed decision-making and tailored investment solutions, will ultimately result in better outcomes for consumers.”

HUB24 director of strategic development Jason Entwistle said the solution gives an accessible option for clients intending to get financial advice but are put off by the perceived barriers.

“No product solution to date has been successful in this segment of the market, so we are truly excited to be working with Aberdeen Standard Investments to bring this product to market,” Mr Entwistle said.

Adrian Flores

Adrian Flores is a deputy editor at Momentum Media, focusing mainly on banking, wealth management and financial services. He has also written for Public Accountant, Accountants Daily and The CEO Magazine.

You can contact him on [email protected].