Administration service provider HUB24 has appointed a former director of the Financial Services Council as a non-executive director.
Tony McDonald has been named as a non-executive director effective 1 September 2015.
HUB24 chairman Bruce Higgins said: “Tony McDonald’s appointment as non-executive director strengthens the board skills in financial planning, financial services and leadership in wealth management.”
Mr McDonald co-founded the financial planning firm Snowball Group in 2000, which merged with Shadforth in 2011 to become ASX-listed company SFG Australia.
“Tony has since been highly active and engaged in consulting to the financial services sector on an ongoing basis and we look forward to his contribution as a director of HUB24,” Mr Higgins said.
Mr McDonald served as a director of The Financial Services Council when the organisation was The Investment Funds Association of Australia.
Mr McDonald's appointment comes as HUB24 announced a partnership with Infocus Wealth Management.
Infocus’ two licensees, Patron Financial Advice and Infocus Securities Australia, will now have access to HUB24’s platform technology.
Infocus Wealth Management director Rod Bristow said: “Our focus in supporting our fast-growing national network is to help advisers grow revenue, increase efficiency and effectively manage risk as they deliver outstanding client service.”
“Delivering market leading technology and investment solutions is key to achieving these outcomes.”
“HUB24 impressed us, not just with their broad product choice, but with also their implementation efficiency made possible by their leading edge technology,” Mr Bristow said.
HUB24 managing director Andrew Alcock said: “It’s really gratifying to be selected by Infocus Wealth Management to be a key partner in their long term growth plans and to also play a major role in changing the way advisers do business.”
“HUB24 has had remarkable growth over the past 12 months, and this new venture reinforces the scalability and real leadership in our wrap and managed portfolio technology, and the way the rest of the industry is moving with us,” said Mr Alcock.