netwealth records 22pc growth
Non-institutional platform provider, netwealth, has amassed more than $9 billion in funds under management (FUM), with strong inflows and steady growth across its wealth management, IFA, and private client sectors.
This comes as a milestone achievement for netwealth, with joint managing director, Matt Heine, confident that the provider will continue to grow as it widens its scope of work.
"We are really pleased with how the platform is growing, and the increased adoption and awareness across the broader industry," he said.
"We are seeing a large increase in new opportunities as advisers focus on building better, more efficient businesses and delivering better client outcomes."
According to Heine, netwealth will launch a further seven private labels over the coming months as well as a direct international offering in collaboration with a specialist manager.
The provider will now up its focus on market integration and fintech within the advice market.
Recommended for you
Research from Adviser Ratings reveals investors are increasingly prioritising long-term financial stability over ESG investment as the cost of living bites, a contrast to previous research.
Perpetual has rejected a $3 billion acquisition bid from Washington H. Soul Pattinson (WHSP) as it announces a strategic review of its company.
ETF provider Global X is targeting $10 billion in assets under management by the end of 2025 as it looks to the institutional space for ETF uptake by super funds.
In the first full month since the exit of chief executive, David George, Magellan has reported a rise in funds under management for the first time since January 2023.
COMMENTS