Webull Australia Adds AI Assistant and Xplan Integration to Adviser Platform

Webull Australia has expanded Webull Connect, its platform for financial advisers, with an AI assistant, Iress Xplan integration and bulk client transfer tools, the company announced on Monday.

The new Connect AI tool is currently available to advisers at no cost for up to 5,000 queries per month. Portfolio insights and summaries of client position exposures are scheduled to roll out in early November.

Bulk client registration, digital onboarding and HIN transfers for multiple clients are handled through LAB Group, which already manages onboarding for Webull Australia’s complex and adviser-led accounts.

The update also introduces a bulk trade tool with average-price allocations across client accounts, a trade terminal and a mobile app for advised clients.

Webull Connect launched in February with access to Australian, US and Hong Kong-listed equities, ETFs and options. CEO Rob Talevski said advisers had indicated that time constraints were a key obstacle since the platform’s launch.

Webull Australia said the number of licensed advisers in the country has fallen 42% since the start of 2019, to 15,413 at the end of June. The company plans to add Japanese markets, regulated crypto and US fixed income to the platform.