HUB 0.31% $75.10 hub24 limited

tfs group (cup.asx) goes white label for $2bn+

  1. 602 Posts.
    http://www.hub24.com.au/content/downloads/asxannouncements/20131218_HUB24_launches_new_branded_platform_for_Total_Financial_Solutions.pdf

    IMO this is really good news for HUB as they are starting to sign on some very large (household name) groups for the Hub24 platform. Recent groups include; Interprac ($1.1bn+), Premium ($2.1bn+) and now TFS ($2bn+) which collectively represent well over $5bn of fum across 230 financial advisers that could potentially come onto the platform over the next 12-24 months. Not to mention the fact that TFS is a 'wholly owned subsidiary' of Countplus (CUP) of which has 21+ professional groups within its network. It's also worth mentioning that CUP is ~40% owned by CBA. I got this from my broker today (see below), which illustrates the serious, serious potential of HUB landing other groups within the Countplus network. At $1.20 (10c below placement price) it looks a steal. The only thing I'd like to see speed up is the time taken between landing one of these big groups and getting the fum onto the platform. Seems a sluggish process but that's probably because it takes a month or two to go live from having signed on. Therefore I'd suspect a couple of big lumpy months (potentially $100m+) in early 2014 to come from the 3 aforementioned groups.

 
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