I believe PensionBee business is closely comparable to HuB24 and Netwealth. Wonder how PensionBee compares with HuB24 and Netwealth in AUM and future growth?
Where in the growth curve of PensionBee compared to HuB24 and Netwealth?
I can see why you think that PensionBee is similar to HUB24 and Netwealth, and while I am not an expert on these businesses, I do feel that I know enough to draw some similarities and distinctions with PensionBee.
In terms of similarities, both are administrators rather than managers which is attractive because they are not dependent on the performance of a select group of employees (fund managers) who can leave at any time. In addition, both charge a recurring fee on the value of funds they oversee.
On the differences, my understanding is that HUB24 and Netwealth are primarily B2B (serving advisors) and are in that sense more like Integrafin than PensionBee which is solely B2C. Also, I believe that they are more like the "fund supermarkets" AJ Bell, II and Hargreaves Lansdown in that they provide a broad selection of third party investment options, although unlike the UK "fund supermarkets", they are not consumer facing brands. On the other hand, PensionBee offers a more streamlined menu of choices to its customers.
In terms of lifecycle, I believe both Netwealth and HUB24 have >$100b in FUA; an order of magnitude greater than PensionBee. Therefore, I think PensionBee is much earlier in its growth curve.
Great write up.
I believe PensionBee business is closely comparable to HuB24 and Netwealth. Wonder how PensionBee compares with HuB24 and Netwealth in AUM and future growth?
Where in the growth curve of PensionBee compared to HuB24 and Netwealth?
Cheers
Thanks Andrew,
I can see why you think that PensionBee is similar to HUB24 and Netwealth, and while I am not an expert on these businesses, I do feel that I know enough to draw some similarities and distinctions with PensionBee.
In terms of similarities, both are administrators rather than managers which is attractive because they are not dependent on the performance of a select group of employees (fund managers) who can leave at any time. In addition, both charge a recurring fee on the value of funds they oversee.
On the differences, my understanding is that HUB24 and Netwealth are primarily B2B (serving advisors) and are in that sense more like Integrafin than PensionBee which is solely B2C. Also, I believe that they are more like the "fund supermarkets" AJ Bell, II and Hargreaves Lansdown in that they provide a broad selection of third party investment options, although unlike the UK "fund supermarkets", they are not consumer facing brands. On the other hand, PensionBee offers a more streamlined menu of choices to its customers.
In terms of lifecycle, I believe both Netwealth and HUB24 have >$100b in FUA; an order of magnitude greater than PensionBee. Therefore, I think PensionBee is much earlier in its growth curve.