# HUB - HUB24 Limited



## exgeo (30 September 2009)

(Company was formerly known and listed as Findlay Securities, ASX:FDY)

*15th Aug 2008*
Otto Buttula becomes executive chairman.

*11th Nov 2008*
Aequs capital and Findlay Securities announce merger scheme. Consideration is Findlay shares. Aequs's principal activity is providing share trading and investment services including merger, acquisition and equity capital markets advice and services to corporations and financial institutions in Australia.

*26th Nov 2008. Future direction*
AGM Presentation statement. (Text taken from FDY 2008 Annual Report) 







> "We at Findlay Securities will continue to build a new leadership team, developing a strategy intended to rejuvenate the Company, taking advantage of the marketplace which we believe affords considerable opportunity given the dislocation of financial markets, ongoing capital scarcity and the need for scale. Overriding objectives of our Rejuvenation Strategy include:
> i) further developing and growing Findlay’s recurring revenue streams;
> ii) markedly expanding the Company’s strategic and commercial footprint (or ‘sphere of influence’), i.e., the Takeover Offer for Aequs Capital and
> iii) cultivating top quartile stakeholder returns – thereby providing a more attractive future outlook for all of our stakeholders, including our employees, clients and shareholders. Our aim over ensuing years will be to become a Company renowned for providing stakeholders with better opportunities, higher investment returns and hence greater satisfaction in their experiences in dealing with our Company"




*29th June 2009*
Findlay changed name to Investorfirst.

*6th July 2009 *
Brett Spork Appointed Managing Director and CEO of Investorfirst Limited (Formerly CEO of E*Trade Australia)

*22nd July 2009*
Mark Zworestine appointed as Chief Financial Officer (previously CFO for E*TRADE Australia between 1999 and its takeover by ANZ in 2007)

*1st September 2009. First wholesale broking agreement signed*


> Investorfirst Limited (ASX: INQ) announced today its wholly owned subsidiary, ANZIEX Limited (‘ANZIEX’), has entered into a wholesale broking services agreement with Trader Dealer Online, a subsidiary of MDS Financial Group Limited (ASX: MWS). The agreement will allow Trader Dealer Online to execute and clear ASX market orders through ANZIEX, providing a seamless transaction for shares, warrants and options orders. Commenting on the formalisation of the transaction, Brett Spork, CEO of Investorfirst said, “The execution of the wholesale trading agreement with Trader Dealer Online is a great initial milestone for the newly restructured Investorfirst Group and in line with our strategy to leverage the ANZIEX back office administration functions to wholesale clients wishing to utilise their own head brand."



(exgeo comment: This sounds a lot like the "white label" share trading service previously offered by IWL to me). 







> "We hope that this is the first of several wholesale relationships the Group expects to enter into, thereby leveraging off our in-house settlement and clearing expertise.
> Damian Isbister, CEO of MDS Financial Group said “We are excited to be working with online broking pioneers, Brett Spork and Otto Buttula and look forward to the continuing rapid expansion of Trader Dealer Online."






*31 Aug 2009. Preliminary Final Report Commentary*


> "The primary focus of our strategic plan for FY10 is to strongly build our revenues (targetting growth of 100%). This is envisaged to be achieved by through cementing several selected and current strategic initiatives, including successfully closing targeted acquisitions, recruiting higher yielding personnel, and establishing wholesale broking service relationships, leveraging from our highly scaleable platform."



 Financial results are pretty meaningless given the deck-clearing and change of business direction (formerly Findlay traders would day-trade using the company's capital, for example).





*INQ Background info*
=====================================
*Senior management:*
Otto Buttula, Andrea Steele, Paul Clarke (all formerly with IWL before CBA takeover). Brett Spork, Mark Zworestine (both formerly of ETrade Australia before takeover by ANZ)

*Management Shareholdings:*
Otto Buttula: 22,000,000 ordinary shares (13.6% of issued capital of 162m shares, as at 30th June 2009)


*IWL Background info*
=====================================
Prior to joining INQ Mr Buttula co-founded and was Chief Executive Officer and Managing Director of IWL Limited (ASX: IWL), a company which listed on the ASX in 1999 at a market capitalisation of $48 million, before its takeover by the Commonwealth Bank of Australia (ASX: CBA) in 2007 at a market capitalisation of approximately $372 million.


*[exgeo commentary]* Under Mr Buttula, IWL was highly acquisitive, building up a group focussed on back-office trade processing, company research and both "white-label" and own-brand (Sanford Securities) online share trading (IWL currently still provides the share-trading for Bankwest and NAB, using the same website as the former Sanford Securities). It looks to me that Mr Buttula is going to use the vehicle of INQ to construct another IWL, based on the acquistion and first wholesale broking agreement to date, management team assembled and stated management objectives. A case of "back the jockey" IMHO.


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## exgeo (15 December 2009)

*Re: INQ - Investorfirst*

Announcement of $8m capital raising and SPP at 10c per share. Capital will be used to basically continue their strategy of building an IWL lookalike, as can be seen from the presentation accompanying the capital raising announcement.



> These initiatives include:
> • Support the higher regulatory capital requirements imposed by ASIC and ASX of a minimum core liquid capital of $5.0 million for full participant brokers, commencing 1 July 2010 (currently $2.0m)
> 
> • Researchfirst – INQ’s in-house proprietary research system which is to be made available to sophisticated, institutional share investors, associated advisors and online clients in 2H’FY10
> ...


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## exgeo (10 September 2010)

*Re: INQ - InvestorFirst*

I seem to be talking to myself on this one a bit, but here goes anyway:



> Investorfirst Limited is pleased to announce that it has entered into binding share sale agreements to acquire an 81% interest in the Alert Trader Group (“ATG”) of companies (alerttrader.com.au).




Same strategy as IWL; make bolt-on aqcuisitions, strip out the backend costs and grow the company. Former IWL shareholders who were made rich by Mr Buttula and his team should be all over this one I think. I hope (and expect) that history is going to repeat itself.


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## joffa (20 June 2011)

*Re: INQ - InvestorFirst*



exgeo said:


> I seem to be talking to myself on this one a bit, but here goes anyway:
> 
> 
> 
> Same strategy as IWL; make bolt-on aqcuisitions, strip out the backend costs and grow the company. Former IWL shareholders who were made rich by Mr Buttula and his team should be all over this one I think. I hope (and expect) that history is going to repeat itself.




Don't want you to feel alone and long on this one ! I'm also backing replication of past  successes  -  slightly concerned that the roll out of these initiatives taking too long and the advisor market in too much flux at the moment. Staying long


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## sarky01 (15 November 2011)

*Re: INQ - InvestorFirst*

Anyone following this? Seems to have really picked up again?


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## elizabeth green (16 January 2013)

*Re: INQ - InvestorFirst*

It appears you may have all been right. Have just been reading about Investorfirst and they have lost staff and seem to be in a deal with a company called Wilsons or something. Did Investorfirst just implode?


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## bailx (31 July 2013)

*Re: INQ - InvestorFirst*

Time to get back in the good books? Investor first appoint new chief. Navigating a market that for the last 13 years has delivered no real return. Investor-first Ltd has announced that it is to receive an R&D Tax Incentive refund of $1.1 million in July in respect of the 2012 financial year related to the significant investment the company has made in the ongoing development of the HUB24 investment and superannuation platform.


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## System (23 August 2013)

On August 22nd, 2013, Investorfirst Limited (INQ) changed its name to HUB24 Limited (HUB).


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## peter2 (28 January 2019)

No comments on one of the best trending stocks (+100%) in 2017. 
Price has been range bound (10.50 - 14.50) in the last half of 2018. 

Price has now bounced off its lows for the third time and looks likely to go higher.


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## Skate (28 January 2019)

peter2 said:


> No comments on one of the best trending stocks (+100%) in 2017.
> Price has been range bound (10.50 - 14.50) in the last half of 2018.
> 
> Price has now bounced off its lows for the third time and looks likely to go higher.
> ...




I would like to echo peter2, comments "Price has been range bound" 

*Explanation*
My ROC indicator (the yellow ribbon on the bottom of the chart keeps turning on & off (traders are apprehensive, selling into any movement)

Skate.


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## Miner (26 February 2019)

HUB presented an excellent result but below expectation or fear from ROyal Commission report ?
Fat Prophets published their confidence on HUB still.


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## kid hustlr (9 April 2019)

This one is starting to look interesting as it tests the $15 mark again. Challenged it on volume last week and is now hovering around on low volume ever since. There's a bit of a theme with these diversified financials at present adding weight to the justification to have a go. One to keep an eye on if the $15 breaks properly me thinks.


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## Miner (18 April 2019)

HUB presented an excellent report today. Very clean (IMO) and inspiring.
Market reacted slightly positive and hopefully when it settles down, the suit and tie people read the report with their coffee and call their clients, the price should go up. 
https://www.asx.com.au/asxpdf/20190418/pdf/444dw3k87ng11y.pdf
Disclosure : Currently holding


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## kid hustlr (1 May 2019)

kid hustlr said:


> This one is starting to look interesting as it tests the $15 mark again. Challenged it on volume last week and is now hovering around on low volume ever since. There's a bit of a theme with these diversified financials at present adding weight to the justification to have a go. One to keep an eye on if the $15 breaks properly me thinks.
> 
> View attachment 93661




First close above 15 today I see. If this trades through new highs I'll be entering.


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## Miner (1 May 2019)

kid hustlr said:


> First close above 15 today I see. If this trades through new highs I'll be entering.



Thanks. I will wait to hear from market


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## kid hustlr (3 May 2019)

exgeo said:


> *Re: INQ - Investorfirst*
> 
> Announcement of $8m capital raising and SPP at 10c per share. Capital will be used to basically continue their strategy of building an IWL lookalike, as can be seen from the presentation accompanying the capital raising announcement.




One of the best things about this site is the historical nature in some threads.

I laugh as I'm now buying a share for $15+ considering it was available at 10c in the past.




Miner said:


> Thanks. I will wait to hear from market




Usually the ones I like the most seem to fail but I like this one a lot!


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## kid hustlr (3 May 2019)

kid hustlr said:


> One of the best things about this site is the historical nature in some threads.
> 
> I laugh as I'm now buying a share for $15+ considering it was available at 10c in the past.
> 
> ...




Regarding the top quote - it's very possible this share has completely changed in nature (and ownership??) since 2009 but I do note the chart which shows HUB trading @ 35c in 2013....


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## Miner (3 May 2019)

some of the significant surges from key stakeholders in last two days. The volume however was not significant to justify any drastic change or hidden news.

https://www.asx.com.au/asxpdf/20190503/pdf/444v10nl0glgct.pdf
https://www.asx.com.au/asxpdf/20190502/pdf/444sx0s71b681j.pdf


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## kid hustlr (8 May 2019)

Got me good in this one miner!

Onto the next


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## Miner (3 July 2019)

Since HUB put the trading halt today, I was intrigued to read the report on AFR today.
The AFR reported on HUB and Netwealth (NWL). The later has more fund and did not chose to halt the trading. Yes, you can see the drop down value on NWL. But why HUB over reacted ? Is it self admission of  any guilt by conduct ? Don't know but market is observing and I do not like it.
HUB was looking good on my PF.


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## So_Cynical (3 July 2019)

Oh ok so Netwealth has come right back $10.11 - $7.39, HUB getting hit as well $15.55 - $11.06, these 2 were over performing the rest of the sector, OVH and PPS, SMSF's are undergoing a large shift into industry funds - apparently, fund management and funds platforms are getting hammered...could be a real change or could be a contrarian opportunity, perhaps a bit of both.


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## Miner (3 July 2019)

So_Cynical said:


> Oh ok so Netwealth has come right back $10.11 - $7.39, HUB getting hit as well $15.55 - $11.06, these 2 were over performing the rest of the sector, OVH and PPS, SMSF's are undergoing a large shift into industry funds - apparently, fund management and funds platforms are getting hammered...could be a real change or could be a contrarian opportunity, perhaps a bit of both.



Hmm. You always find silver lining on a thunder


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## Dona Ferentes (28 October 2020)

_having worked in this sector (but with a far more collegiate client facing outfit) it bemuses me to see the aspirations of some and consolidation in the $820 billion investment platform market_.

Hub24 lobbed a $60 million takeover bid for ASX-listed rival *Xplore Wealth*, previously known as Managed Accounts Holdings, on Wednesday. The acquisition of the $15 billion wealth and superannuation platform would consist of a mix of cash and Hub24 scrip, with Xplore valued at $0.20 per share, indicating a 203 per cent premium on Tuesday's closing price. Xplore was a pioneer of the managed accounts business model — bespoke investment portfolios run by wealth managers as opposed to off-the-shelf managed funds — where Hub24 also operates.

As well, Hub24 will acquire stockbroking firm *Ord Minnet's portfolio administration and reporting service* for $10.5 milliion, which was previously owned by IOOF before being sold off in mid-2019.

And it will acquire new shares in listed financial planning and accounting group _*Easton Investments*,_ while also divesting its Paragem subsidiary and transferring ownership to Easton. The transaction would result in Hub24 becoming a 40 per cent shareholder in Easton, which owns prominent wealth and accounting firms Hayes Knight, GPS Wealth and Tax Banter.

The combined trio of deals will cost Hub24 about $93 million, partially funded by a fully underwritten placement of $50 million to institutional investors and a $10 million share purchase plan for retail shareholders. It has also secured a $12.5 million debt facility from ANZ and issued $30 million worth of Hub24 shares to Xplore investors.

Hub24 managing director Andrew Alcock said he anticipates the three transactions will add about 13 per cent to earnings per share.







> "The successful completion of these transactions which include the acquisition of Xplore Wealth and Ord Minnett’s PARS, will result in a 47 per cent increase in custodial FUA, around 400 new adviser relationships and the expansion of non-custody administration FUA to $14 billion," he said.


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## Ferret (20 January 2021)

Strong quarterly figures released yesterday.  Acquisitions seem to be going well.







Market liking it.


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## Dona Ferentes (20 April 2021)

again, strong numbers

_*March Quarter FY21 Highlights . *_
• _Record HUB24 platform quarterly net inflows of $1.9 billion (an increase of 41% on pcp) and $0.2 billion higher than last quarter  
• Total Funds Under Administration is now $51.4 billion, including Xplore Wealth Limited which contributed $17.2 billion as at 31 March 2021, with Platform FUA of $35.6 billion as at 31 March 2021 (up 136% on pcp) and Portfolio, Administration and Reporting Services  FUA of $15.8 billion _


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## frugal.rock (18 October 2022)

Market liked the update which was very timely in it's release...


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