Netwealth exceeds $14b FUM/A
Netwealth has exceeded $14 billion in funds under management and administration (FUM/A) thanks to strong inflows and continued growth across the independent financial adviser (IFA), private client, and wealth management sectors.
The growth represents an increase in excess of $5 billion or 55 per cent for the current financial year and 350 per cent and over into the Netwealth managed account service.
The firm said the result reflected Netwealth’s focus on managed account and platform technology.
Netwealth joint managing director, Matt Heine, said the firm had also launched initiatives including a wide range of new adviser efficiency enhancements, nine new private label managed accounts, and the transition of the Russell IQ Wealth and Super platform across to Netwealth.
“We continue to see the industry undergo a number of major structural changes including strong and steady growth of the IFA market and a renewed focus by advisers who understand the need to ‘future proof’ their business – Netwealth is well placed to partner with firms through this process,” he said.
Netwealth will be discussing platforms and technology at Money Management's Fintech Platforms and Wraps conference in August.
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