Netwealth improves adviser trading with FinClear partnership
Wealth management platform provider Netwealth has announced a partnership with FinClear to deliver individual HIN data and trading capabilities to advisers and their clients.
Founded in 2015, FinClear is an independent technology and infrastructure provider for financial market access with $145 billion in funds under administration (FUA) across some 570,000 investor accounts.
Through this partnership, FinClear will enable the Netwealth platform to provide its users with access to individual holder identification number (HIN) data via application programming interfaces (APIs) to the platform to improve its current reporting and trading solution.
Building on the platform’s existing capabilities, FinClear said this integration will streamline processes for advisers with HIN holdings, simplifying trade and enabling access to custodial assets, such as managed funds, international equities, domestic and foreign bonds, or managed account models.
Netwealth CEO Matt Heine said: “We’re excited to be adding individual HIN administration and reporting for 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.
“When we set out to bring this additional offering to customers, FinClear was the clear choice of provider. We have tried and tested its proprietary tech, expertise and flexibility, and we knew it would be a straightforward and efficient process.”
FinClear CEO David Ferrall added he is pleased to contribute to the improvement of financial market infrastructure for Australian users.
“This offering will improve the experience for those using Netwealth’s gold standard services. Now end investors on the Netwealth platform have the option to hold assets directly in their own name, and financial advisers or wealth managers will have a far more efficient process for trading, administration and reporting,” Ferrall said.
This update follows the release of Netwealth’s full-year results last month, where the platform reported a 5.6 per cent increase in the number of advisers utilising the platform in the 2024–25 financial year, now seeing some 3,971 active users.
Speaking on the firm’s results webinar, Heine said the rise in adviser numbers was a “key driver of our business and what gives us a very high level of confidence about our future growth”.
Looking to the future, Heine said Netwealth will target the “affluent adviser” market, meaning those looking after clients with account balances between $500,000 and $750,000.
AUTHOR
Shy-Ann Arkinstall
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