Australian wealth management and technology company Netwealth has reported a $24.8 billion increase in total funds under administration (FUA) and net flows of $15.8 billion over FY2024–25 in its quarterly business update for June 2025.
Total funds under administration at 30 June reached $112.8 billion, an increase of $8.7 billion for the quarter. The quarterly increase included $3.8 billion of FUA net flows and $4.9 billion of positive market movement.
Netwealth attributed the FUA inflows to constantly high transition rates from existing financial intermediaries and strong conversion rates of new business from a broad range of client groups and segments.
A number of enhancements have been added to the platform in recent months, including the addition of nine private model suites, new capabilities allowing trading in structured products and substantial growth.
The platform also delivered strong funds under management (FUM) net flows of $1.1 billion for the quarter, 16 per cent higher than the prior corresponding period (PCP), with total FUM increasing by $6.5 billion to $27.0 billion, 32 per cent higher than a year ago.
According to the quarterly update, the FUM growth was concentrated in managed account products, with net flows for the quarter of $1.1 billion, being 34 per cent higher than the PCP and accounting for 96 per cent of all FUM net flows, up from 86 per cent in the previous quarter.
Netwealth said it remained confident in its net flows outlook for FY25–26 and beyond across a broad range of client groups and customer tiers.
“This confidence is supported by strong levels of FUA inflows and new account openings in Q4, robust transition pipelines and continued success in attracting new advisers and their clients,” it said.
“Our revenue base is highly recurring and well diversified across customer segments, products and revenue sources.”
Fund managers have continued to keep both Netwealth and HUB24 as holdings in their exchange-traded funds, with both platforms continuing to grow their funds under administration.
