Sydney, 20 February: As part of the HUB24 Group’s commitment to delivering innovative solutions that enable advisers to meet the needs of clients throughout each life stage, HUB24 announced it has collaborated with advisers to enhance its SMSF Access solution.
Leveraging the collective capabilities of HUB24, Class and NowInfinity, SMSF Access is a simple, cost-effective, integrated SMSF solution that’s been designed for advised clients with simple investment needs looking to access the benefits of an SMSF without the cost and complexity of traditional solutions.
The SMSF sector continues to attract more Australians with SMSFs now comprising more than one trillion dollars of the $4.08 trillion superannuation industry.1
Recent research from the Class Annual Benchmark report, showed millennials are establishing SMSFs at a faster rate than any other demographic, with growth increasing by 5% over the past six months to 33.6% (up from 28.5% as of 30 June 2024). These figures demonstrate the increasing popularity of SMSFs amongst a younger cohort.2
Furthermore, Investment Trends research found 36% of High Net Worth (HNW) investors have, or are planning to establish, an SMSF to help enable the transfer of wealth to family members.3
HUB24 Executive Group Strategy Greg Hansen said these figures highlight significant opportunities for advisers to enhance their advice proposition to meet the needs of early-stage wealth accumulators, later stage retirees, or clients seeking choice, flexibility or portability.
“Since launching we’ve been collaborating with advisers to further develop our product offering and deliver scalable, cost-effective and efficient client value propositions. Through ongoing investment in innovation, solutions like HUB24 SMSF Access support growth in the overall SMSF segment by enabling advisers to service a new customer demographic.
“HUB24 SMSF Access is designed for advised clients who want to invest in assets on platform and typically don’t have an accountant relationship. It offers all the benefits of HUB24’s market leading platform, including access to the full range of IDPS investments, along with establishment and administration services, making an SMSF simple and easy to manage.
The solution also offers a simple fee structure and, where eligible, the ability to claim RITC on advice fees – which potentially lowers the cost of advice.
Mr Hansen said: “As their balances grow and their investment needs change, advised clients can transition to a comprehensive SMSF solution without the need to sell down any of their existing investments.”
The new features and enhancements offer many additional benefits including a streamlined application process, faster access to Super Guarantee (SG) contributions, a new Cash Statement report, GST registration, comprehensive SMSF information and fact sheets.
Delivered through HUB24’s professional development centre, advisers also have access to the SMSF Academy which provides valuable insights on the client and business benefits of SMSFs including key trends shaping the industry, how younger investors are driving SMSF growth, advice strategies and solutions for future clients.4
For more information on SMSF Access please visit here.
For media inquiries contact:
Natalie Pennisi
npennisi@hub24.com.au
P: 03 9275 7835
About HUB24
HUB24 Limited is listed on the Australian Securities Exchange, and includes the award-winning HUB24 Platform, HUBconnect, Class, NowInfinity and myprosperity.
The HUB24 Platform offers advisers and their clients a comprehensive range of investment options, including market-leading managed portfolio solutions, and enhanced transaction and reporting functionality. As one of the fastest growing platforms in the market, the platform is recognised for providing investment choice and innovative product solutions that create value for advisers and their clients.
For further information, please visit www.HUB24.com.au
- APRA Sept Quarterly Statistics: https://www.apra.gov.au/news-and-publications/apra-releases-superannuation-statistics-for-september-2024
- Class Annual Benchmark Report Half Year Findings – in the six months to 31 December 2024
- Investment Trends 2024 High Net Worth Investor Report – page 317
- HUB24 Professional development centre