Wealth administrator Hub24 will branch out from its core market of financial advisers to accountants, lawyers and self-directed self-managed superannuation investors after acquiring ASX-listed Class Limited.
Hub24 on Monday launched a bid for Class, a specialist in self-managed super fund and trust administrative software, in a move endorsed by the Class board and valuing the target about $386 million.
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Aleks Vickovich leads the Financial Review's coverage of wealth management, specialising in the business and regulation of investment markets, financial advice and superannuation. Email Aleks at aleks.vickovich@afr.com
