Netwealth’s FUA reaches $16 billion in March quarter
Netwealth’s funds under administration (FUA) rose $879 million to $16 billion in the March quarter, the platform provider told the Australian Securities Exchange.
Netwealth joint managing director Matt Heine said the company was pleased with the strong result, particularly given a seasonally slow January.
Netwealth Managed Account funds under management (FUM) rose to $1.6 billion over the past 12 months, a rise of 231 per cent, Heine said.
He also said Netwealth had a range of initiative set to be rolled out over the coming months, including low-cost indexed managed account models, an upgrade of its reporting suite and range of reports, and an upgrade of the Netwealth iOS and Android mobile apps.
User experience, navigation, adviser efficiency and client engagement would also be an ongoing focus, Netwealth said.
According to the Investment Trends February 2018 Managed Accounts Report, Netwealth is now the most widely used managed account platform by financial planners.
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