Netwealth FUA passes $120b on record first-quarter net flow
Make us a preferred source
Make us a preferred source on Google
The news: Investment platform Netwealth has reached total funds under administration (FUA) of $120.8 billion as at the end of the September quarter, a 26.6% increase compared to the prior corresponding period.
The numbers: The FUA increase of $8 billion for the September quarter was partly due to a net inflow of $4.1 billion, a first-quarter record, and positive market movement of $3.9 billion.
Netwealth also hit a new 12-month trailing view record of $15.8 billion.
Total FUA net flows excluding pension payments was $4.4 billion. Managed account net flows also had record net flows of $1.6 billion, up 49.4% from $1.1 billion in the preceding quarter. Non-custodial FUA also went above $1 billion for the first time.
The total number of accounts also increased by 5,146, or 3.2%, in the quarter to reach a total of 167,380.
The context: The investment platform reiterated its previous FY26 guidance.
Netwealth told the exchange that FUA net flows continued to benefit from “ongoing transitions from existing financial intermediaries as well as new accounts from new intermediaries”.
Netwealth also announced a strategic partnership with FinClear during the quarter, which provides individual holder identification number data and trading access to investors and wealth professionals.
What they said: “We’re excited to be adding individual HIN administration and reporting for our users as part of our users, as part of our mission to continuously improve efficiencies, user experiences and customer options as we expand our platform to service greater segments of the Australian wealth management industry including stockbrokers and HNW firms,” Netwealth CEO and managing director Matt Heine said.
The source: ASX
