HUB24 founder joins WealthO2 board

HUB24 and COIN founder Darren Pettiona has been named an executive director for WealthO2.

Changes in the markets and adviser needs make a platform like WealthO2 particularly valuable. "In 2007, the benefits fo managed accounts were not as well understood by advisers as today. It is technology innovation that can lead change in an industry. With the decoupling of the big four banks from wealth the time is perfect for technological innovation to flourish," Pettiona said.

"The financial services industry now has an opportunity to reset itself without the barriers to entry or interference that existed with the legacy industry vertical models. It would be a wasted opportunity to see these old models replicated on new technology masquerading as innovation."

Pettiona is joined on the board by Macquarie Wrap founder Neil Roderick, who has been named chair.

WealthO2 CEO and co-founder Shannon Bernasconi says the appointments add experience to the business. "The appointment of these two financial services stalwarts' to the WealthO2 board, comes as WealthO2's assets under management hit the $2.3 billion mark - a size that has been reached in less than 4.5 years.

"We have listened to our adviser clients, and have invested in our technology and our people to deliver efficiency, margin recovery and a great client experience.

"The journey is never over however, with the recent evolution of our user experience delivering more features and functionality. This further demonstrates that WealthO2 is the next generation in advice led technology," said Bernasconi.