HUB24 acquires myprosperity to enhance client engagement
The parent company of SMSF and adviser software provider Class, HUB24 Limited, has entered into an agreement to acquire myprosperity, a leading provider of secure, digital client portal solutions for accountants, financial advisers and their clients.
The acquisition is expected to deliver long-term shareholder value by accelerating HUB24’s platform of the future strategy, supporting current growth trajectory and strengthening competitive advantage to capture market share and create new growth opportunities.
The capability provided by myprosperity together with HUB24 will consolidate the group’s position as a leading provider of integrated platforms, technology and data solutions for financial professionals.
Client portals with enhanced capabilities like myprosperity are transforming client engagement by delivering a holistic view of household wealth, providing secure digital engagement and facilitating collaboration between clients and the financial professionals with which they have a relationship.
Integration of myprosperity with HUB24 custodial and non-custodial platforms is planned initially, followed by the development of a single client portal for the entire HUB24 group portfolio of products and services.
This is expected to extend HUB24’s market-leadership position and deliver both increased customer advocacy and new opportunities to further grow market share across the HUB24 group.
Together with HUB24, myprosperity will provide an improved client experience, streamline service delivery, and increase productivity, enabling financial professionals to empower a better financial future for more clients.
It is intended that myprosperity will operate as a separate business unit within the HUB24 group under the myprosperity brand and leadership team, retaining its entrepreneurial culture while benefiting from HUB24’s technology infrastructure and shared services. Myprosperity will be incorporated into the platform segment within HUB24’s financial reporting disclosures.
