Netwealth tops $8b FUM milestone
Strong inflows and growing support from non-aligned advisers has seen platform provider, netwealth, exceed $8 billion in funds under management (FUM).
Netwealth joint managing director, Matt Heine, said the growth in FUM reflected the group's focus on providing great service and support alongside market leading technology and products.
"We are really pleased with how the platform is growing, and the increased adoption and awareness across the broader industry," he said.
It's an exciting time for us and we are seeing a large increase in new opportunities as advisers focus on building better, more efficient businesses and delivering better client outcomes.
"We have introduced a significant amount of new functionality into the platform this year, including the launch of our managed account service, which has been really well received by our clients across different segments of the market including strong interest from traditional stockbroking and investment firms."
Recommended for you
The Federal Court has issued its verdict in ASIC's first greenwashing case against Vanguard Investments Australia regarding the use of ESG exclusionary screens.
Investment managers who plan to implement artificial intelligence in the next five years expect to see increased productivity, but views are mixed on whether it will boost revenue and assets under management.
A former corporate adviser has been sentenced in the Supreme Court of Western Australia for insider trading to realise a profit of more than $57,000.
Private markets expertise is sought-after for investment operations hires as allocations to alternative assets rise, according to a recruitment firm, but there is a gap between demand and supply.