Boutique platform provider Hub24 has reached $5 billion in funds under administration, largely driven by flows from financial advisers.
In a statement on the ASX yesterday, the platform provider said its investment and superannuation platform reached $5.05 billion in FUA.
The milestone has been achieved through ongoing support from advisers, clients, shareholders and staff, the company said.
“Reaching $5 billion in FUA is a significant achievement for both Hub24 and for our industry. It’s an accolade for choice, innovation, value and great technology,” said Hub24 managing director Andrew Alcock.
“These factors, as well as client demand for heightened control, flexibility and transparency are representative of the ongoing transformation of wealth management for all stakeholders.
“Hub24 has tripled in size over the last two years and we are continuing to grow rapidly. We value the support of all of our clients and business partners who fuel our commitment for further innovation every day.”