The number of advisers using the HUB24 platform has passed 5,000, with over 100 added in the latest quarter.
Strong inflows offset negative market movements in the third quarter of FY24–25, while the number of advisers using HUB24 increased 14 per cent on the same time last year.
In its Q3 results announcement to the ASX, HUB24 revealed that, despite negative market movements of $1.3 billion, the platform’s quarterly net inflows were $4.9 billion, up 39 per cent on the prior corresponding period.
This pushed platform funds under administration (FUA) up 4 per cent for the quarter to $102.5 billion as at 31 March 2025, an increase of 29 per cent from $79.7 billion at the end of the March quarter in FY24.
Excluding the $1.3 billion large migration from ClearView WealthFoundations to HUB24 Super during the quarter, net inflows in Q3 FY25 were $3.6 billion (up 33 per cent on pcp), which HUB24 said was a “record for a third quarter”.
The number of advisers utilising HUB24 increased by 129 during the quarter on the back of 28 new distribution agreements, which saw total numbers hit 5,015.
“Approximately half of the increase in advisers during the quarter was a result of the ClearView migration,” HUB24 said.
Total FUA reached $124.1 billion as at 31 March 2025 (up 24 per cent on pcp), with portfolio, administration and reporting services (PARS) FUA of $21.6 billion (up 6 per cent on pcp), while the number of PARS accounts was up 4 per cent to 8,689.
Citing Plan for Life data, HUB24 said its share of the platform market was up from 7 per cent at the end of 2023 to 8.3 per cent to close out 2024, making it the seventh-largest provider in the space.
The firm added that there is still about $0.9 billion left to be migrated from Equity Trustees during Q4 FY25, bringing the total EQT migrations over the last two financial years to around $5 billion.
HUB24 noted that while the “recent market volatility” has continued into April, its business is “resilient”.
“This has the potential to impact FUA, which is not fully correlated to equity markets due to the mix of client assets and trading behaviour on the platform. While advisers are focused on supporting their clients through this period, to date there has not been a shift in momentum of net inflows,” the firm said.
“While acknowledging the market volatility, our business is resilient and operates in structurally growing markets, where there is strong demand for financial advice underpinned by demographic shifts and a government mandated superannuation system.
“Our innovative, market-leading products and solutions, customer service excellence, and customer relationships provide us with a strong pipeline of opportunities which gives us confidence in our growth outlook.”
