Yes and No. PPS has historically been the leader in Managed...

Yes and No.

PPS has historically been the leader in Managed Accounts in Australia but a bit of a one trick pony. This lead has dwindled over the past few years and they have been slows to see the bigger picture IMO.

MGP is similar but smaller.

OVH is an interesting company with diversified Income Streams. They are definitely catching up in respect to functionality.

HUB is definitely the stand out in the names mentioned. Some excellent functionality, great reputation and winning heaps of business off the banks. Not cheap, however I thought that after IOOF put in their offer in the high 2s.

Hubs most direct competitor is NWL $1.4M. Both independent, 2017 Investment Trends joint 1st, both growing very quickly and taking significant FUM flowa, especially when compared to their market share.

NWL currently larger, more profitable. Of the wrap specialists, I personally believe it is a two horse race between them, however expect most of those mentioned to win over the years ahead, I just expect them to win more.

The other major force is BT (WBC) with their multi-billion dollar build of Panorama, which still can't compete with HUB or NWL. CFSCS (CBA) still has a horse in the race but is a little lame.

None are really cheap, but hard to value and not sure they will get cheap anytime soon.