Hub24 has announced enhancements to its platform, including a superannuation contributions tracker and an integrated records of advice (ROA) solution for advisers.
The superannuation contributions tracker will enable advisers using Hub24’s platform to track their clients’ contributions to their superannuation, allowing them to create reports and follow their progress towards their contribution cap limits.
The firm’s new integrated ROA functionality will allow licensees to upload their own template and store it in the system. Advisers could then generate an ROA from the platform when they trade on a client’s account.
The ROA enhancements came in response to adviser demand, Hub24 said. It cited the “Investment Trends 2017 Planner Technology Report”, which showed 34 per cent of advisers would change their main platform for one that generated ROAs.
“As with previous improvements, these new features are focused on creating efficiencies for advisers, freeing their time to deliver advice and build their client relationships,” Hub24 director of strategic development Jason Entwistle said.
The enhancements are a result of innovations presented at Hub24’s first internal hackathon, which took place in July 2017.
“Teams made up of staff members from different areas of the company were given 24 hours to develop an idea and prototype an improvement to the platform,” Entwistle said.
Other platform enhancement plans for this year include enabling portfolio managers and investors to buy and sell investments in foreign currencies and hold foreign currencies themselves, allowing advisers to open multiple accounts through one account opening process and linking clients’ Hub24 and broking accounts, and an interface for advisers and clients to link available third-party accounts to their Hub24 account.
