Hub24's a white-label platform provider. Dealer groups apply their own label / branding on top of it and pay Hub24 a utility-based $ - similar to utility companies.
It's correct that they don't have a "retail" product, i.e. a Hub24 branded platform, for clients to deal with them directly. However if you qualify as a sophisticated investor and meet some portfolio size requirement (it's in HUB24's doco somewhere) you can sign up with them directly as a wholesale client.
In a nutshell they prefer to let the dealer groups (i.e. the "retailers") deal with client specific issues and just toll the FUM.
INQ Price at posting:
$1.18 Sentiment: Hold Disclosure: Held
