HUB24 announced the appointment of Mr Tim Steele to the role of Chief Executive Officer of Class, the leading SMSF administration technology, legal documents and corporate compliance provider which HUB24 acquired earlier this year.
Mr Steele will join the HUB24 Group executive and report to the Group’s Chief Executive Officer and Managing Director, Andrew Alcock.
“Tim brings a wealth of executive experience in leading teams and working with financial professionals to deliver customer centric solutions,” said Mr Alcock.
“I am delighted to welcome Tim to Class to lead the business forward as we focus on delivering great customer outcomes and enhancing Class’s already market-leading SMSF documents and corporate compliance solutions.”
Early in his career Mr. Steele built a business helping accountants grow and develop their practices, through which he developed a deep understanding of the accounting profession.
Most recently Mr. Steele was Group Executive, Retirement and Investment Solutions at MLC after joining NAB in 2016 as General Manager of NAB Financial Planning, and prior to that Tim was Managing Director of ipac and Genesys Wealth Advisers.
Since leaving MLC in mid-2021 Tim has consulted to large financial services companies on strategy and leveraging technology for business growth and transformation.
Mr Steele will start as CEO of Class on 1st August 2022.
The strategic acquisition of Class completed in February this year provided additional technology and data expertise to deliver on the Group’s platform of the future strategy and further positioned HUB24 to lead the wealth industry as the best provider of integrated platform, technology and data solutions.
Following the acquisition HUB24’s Director of Strategic Development, Jason Entwistle was appointed as interim CEO of Class whilst a search was underway for a permanent replacement.
At a recent investor update in June, HUB24 announced the first cross-business product development initiative leveraging the combined capability of HUB24, Class and NowInfinity. The new SMSF product solution is designed for advisers to meet the needs of aspirational accumulators who are keen to access the benefits of a cost-effective SMSF solution.
The solution provides advised clients with a cost-effective, fully integrated end-to-end service bringing together SMSF establishment, administration and investment administration. A cross-business project team is in place preparing for a pilot which will launch Q1 FY23.
Participants agreed the way forward was to work together and alongside government and regulators, to break down existing barriers to advice and build a sustainable advice profession which will enable more Australians to benefit from financial advice.
For media enquiries:
Natalie Pennisi
Senior Communications Manager, PR and Media
03 9275 7835 npennisi@hub24.com.au