We were very pleased to be named in a recent UBS report as one of the key disruptors to the platform industry in Aleks Vickovich’s article last week.
Netwealth, Hub24 face ‘wave of disruption’: UBS
Wealth management disrupters Netwealth and Hub24 are themselves facing disruption from a new tranche of foreign-backed investment platforms licking their lips at the disarray in Australia’s financial services industry in the aftermath of the Hayne royal commission.
That’s the conclusion drawn by UBS analyst Kieren Chidgey, who has predicted the $10 billion in funds under administration clawed from major banks and financial institutions by ASX-listed speciality platform providers Netwealth and Hub24, as well as fellow independents Praemium and OneVue, could be under threat over the next three to five years.
He listed … FinClear … as relatively new platforms with solid prospects of clawing market share.