Hexa-ting 18 Feb 2025 Flashcards
Who is ACB?
Adrian Cretu-Barbul, Former CEO 6Park; B&PB HO Tech
What is Adrian Cretu-Barbul’s role?
Former 6Park CEO; B&PB HO Tech
Who is Doug Morris (i.e., what is his role)?
CEO Sharesight.
Why should we do HEX? 1 main reason, 2 supplementary reasons.
- Delivering managed portfolios (general and scaled advice) is critical to PW strategy: we must support clients with different needs and risk profiles.
- Adds value to clients and shareholders.
- Complementary to existing services
How many clients does nabtrade have, and what is the value of assets held?
- 550k clients.
- ~$50b in assets
Why is delivering managed portfolios critical to our strategy?
It helps us support clients with different needs and different risk profiles, especially as a foundation solution for clients that are not suitable (or don’t require) holistic or comprehensive advice.
Who does HEX target?
Clients that are not suitable (or don’t require) holistic or comprehensive advice. Others will be targeted by JBWere.
Why did NAB acquire Six Park Asset Management instead of building their own platform or renting one?
- Accelerate time to market.
- Internal build too complex and high risk.
- Too expensive to rent from traditional providers (especially in Self-Directed Investor context).
In project HEX, why are we rebuilding the code that is currently in a different language rather than just moving forward with it?
We think the larger cost/time upfront will lead to greater benefit down the road.
What types of assets will be focus on at first?
We aim to be ASX ETF-based at the start.
What AFSL licence will we require at the start?
At first, ASFL licence will be for general advice only.
What are the 6 goals of HEX?
- Leverage the Six Park acquisition as much as possible.
- Deliver strong returns.
- Seamless Customer experience (minimum friction).
- Get to market as quickly as possible.
- Be as automated as possible.
- Simplify wherever possible.
What are the key features of the 3 HEX waves?
- Open to internal staff; fundamental features.
- Select customers invited to experience growing set of features.
- Remaining features offered to existing nabtrade customers.
Explain HEX Wave 1 in more detail?
Open to internal staff with the following fundamental features:
* Self-directed access to globally diversified Managed Portfolios.
* Essential reporting capabilities for operations and Managed Portfolio performance (Client access TBD).
* Rebalancing capabilities for automated periodic portfolio rebalancing.
Explain HEX Wave 2 in more detail?
Select customers are invited to experience a growing set of features, including:
* Ability to change investment strategy.
* Enhanced functionality such as buy-only rebalance, pause rebalance, and trade on demand.
* Compliance and tax reporting introduced (client access TBD).
Explain HEX Wave 3 in more detail?
Remaining features offered to existing nabtrade customers, including:
* More trading features, including auto investing.
* Comprehensive reporting available to clients (integrated).
* ESG Tilt and Ex-AUS offering available.
What are the dates for each HEX Wave?
- Nov 2025.
- Early 2026.
- Early/Mid 2026.
When HEX is originated, which two sub accounts will automatically be created?
- Hex account.
- Hex cash facility (this will be a virtual cash facility because HEX uses an omnibus custody solution i.e. all trades will be aggregated and submitted to market on one HIN).
What is the effect of using an omnibus bulk custody solution?
All trades will be aggregated and submitted to market on one HIN.
