Platform provider touts new white label partnership

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An investment platform provider has signed a new white label agreement with an independently-owned dealer group.

HUB24 has announced it has signed an agreement with Fortnum Financial Group expected to result in the transfer of more than $600m. Fortnum has around 100 advisers across 34 practices, and approximately $34bn in funds under advice. The deal will enable the group's advisers to access HUB24 investment solutions for current and new clients.

The arrangement will see a new white label developed. The white label platform will include both superannuation and investor directed portfolio services, with fully integrated custodial and non-custodial assets.

“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," HUB24 managing director Andrew Alcock said.

“We are making tremendous progress in building a sustainable pipeline of growth opportunities for the business. HUB24’s selection mirrors the demand we are experiencing for our leading-edge platform. This is proving to be an attractive offering that is disrupting the Australian wealth management industry."

Final agreements on the white label are to be signed signed involving the e-Clipse Unified Managed Account and e-Clipse Super services, which together currently hold around $650m on behalf of Fortnum’s principal practices.

“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,” e-Clipse Online head Sal Torrisi said.