Netwealth reports growth in FUA
Netwealth has reported an increase of $2.1 billion in funds under administration (FUA) as at the end of March, which also marked its largest quarterly rise in FUA since its listing on the Australian Securities Exchange (ASX) in 2017.
The firm attributed such growth in the past six months to an unprecedented number of new advisers selecting it as their preferred platform.
Netwealth stressed that the fourth quarter was typically the strongest quarter for net flow and said it would expect this trend to continue this year.
“We expect FY2019 FUA net inflow to exceed FY2018 FUA net inflows of $4.166 billion, subject to the timing of client transactions continuing as expected and our forecast organic growth,” the firm said in the statement released to the ASX.
The total FUA, which stood at $21.1 billion as at the end of March, saw net inflow in the March quarter of $0.9 billion while market movements accounted for a further $1.2 billion increase.
As at December 31, Netwealth managed to increase its market share to 2.3 per cent.
Earlier this month, the company announced that it had been selected as the preferred platform for ANZ Private.
AUTHOR
Oksana Patron
Recommended for you
In its first FY26 action, ASIC has cancelled the AFSLs of two Sydney advice firms over their failures to pay industry funding levies.
The Federal Court has made interim travel restraint orders against two Falcon Capital directors, while also freezing one director’s assets.
For the 2025 financial year, all but one listed advice licensee has reported double-digit share price growth – but which licensee has seen the best performance and what activities have they enacted during the period?
Evidentia Group has confirmed its new executive leadership structure, having been formed from the merger between Evidentia and Lonsec Investment Solutions, to shape the future of managed accounts.
