HUB24 has been transferred $1.4 billion in funds under administration (FUA) from ClearView’s WealthSolutions Super, LifeSolutions Super and WealthSolutions IDPS for custody and administration.
In a joint announcement, the firms said a private label investor directed portfolio service (IDPS) and superannuation wrap solution had been developed to facilitate the transition, provide investment continuity, and minimise disruption for customers.
HUB24 managing director, Andrew Alcock, said: “HUB24’s capability to seamlessly deliver large-scale transitions has once again been proven. The teams across HUB24 and ClearView have been working together to achieve this for ClearView’s customers following the launch of the white label last year. We look forward to continuing to work with ClearView on product development initiatives going forward”.
ClearView managing director, Simon Swanson, said his firm was in the middle of a multi-year transformation program to ensure they remained easy to do business with and continue to deliver high quality, fit-for-purpose life insurance, wealth management and financial advice solutions.