Financial services firm Investorfirst has boosted its Hub24 platform’s investment menu through the addition of 13 new non-unitised portfolios.
The additions include research house Lonsec’s Equity Core and Equity Income portfolios and Morningstar’s Australian growth, income and balanced models.
“The Hub24 platform now offers 25 portfolio managers, with 54 non-unitised funds, making it the most extensive non-unitised fund provider in the Australian marketplace,” Investorfirst chief executive Darren Pettiona said.
“A further unique characteristic of Hub24’s product offering menu is that it now comprises all of Australia’s leading independent research providers in a portfolio manufacturing capacity, including Lonsec, Morningstar, Standard & Poor’s and van Eyk.”
The other portfolios added include Millinium Capital Managers Dividend Income, Clime Asset Management’s Concentrated Australian Equities and Aviva Investors Australia’s Dividend Builder and Core Opportunities models.
Prime Value Asset Management’s growth and imputation portfolios and the Armytage Enhanced Leaders and Strategic Opportunities funds were also included on Hub24.
Pettiona said Investorfirst believed non-unitised portfolios would be the future preferred method of investment.
“We strongly believe that non-unitised portfolios will be the future of how Australians invest in domestic assets, particularly equities and fixed interest, and any financial adviser who does not embrace professionally constructed, non-unitised portfolios will be doing a disservice to their clients, in addition to possibly jeopardising their fiduciary duties,” he said.
The expansion of the investment menu comes after five more dealer groups that collectively represent over $650 million in assets recently picked Hub24 as the preferred portfolio service provider for their planners.
The dealer groups were Gamma Wealth Management, Q1 Wealth, HNW Planning, Harts Financial Group and Roxburgh Securities, Hub24 said in December.
