Members of the National Tax & Accountants Association (NTAA) now have access to the HUB24 platform, thanks to a platform distribution agreement signed by Investorfirst and InterPrac.
InterPrac was founded in 2001 under the auspices of the NTAA, and provides business solutions to almost 9,000 member accounting firms of the NTAA. InterPrac Financial Planning is an AFSL with approximately 90 authorised representatives that will have access to the platform, along with practices with their own AFSL.
The agreement is another aspect of the push from NTAA Advice to prepare accountants for the transition to advice as the Accountants’ Exemption is phased out over the next three years.
InterPrac FP managing director Garry Cole said that when considering what platform to use, key issues included, “independence… and the fact that the platform can accept non‐custodian assets for an SMSF without imposing additional cost to the client.”
The platform has been specifically designed to attract SMSF clients, as well as offering a retail superannuation wrap account. InterPrac FP also plans to use HUB24 to create SMA investment options for clients.
SMSF Advisers Network is another NTAA Advice-endorsed licensee that will use the new platform. CEO Phil Osborne said the non-aligned aspect of the product provider was a major draw card.
Investorfirst CEO Andrew Alcock said they had to “think outside the square to develop a platform that caters for accountants and tax agents expanding their services to include financial planning”.