Having just hit its 25-year anniversary, Netwealth’s total FUA net inflows for FY2025 year-to-date stand at $6.6 billion and $5.6 billion in market movement.
This follows a record-breaking September quarter for the company, in which Netwealth saw $7.4 billion in inflows, leaving the firm sitting at $95.4 billion in FUA as at 30 September.
Furthermore, the firm’s flagship managed account offering has exceeded $20.6 billion, which Netwealth attributed in part to the evolving nature of the industry as advice practices continue to increase their adoption of technology.
For example, Netwealth’s 2024 AdviceTech: Buyer’s Guide revealed that more than eight in 10 (82 per cent) of advice practices are using or considering using AI, primarily as a means of reducing administrative burdens and improving efficiency.
In addition to reaching this milestone, Netwealth also announced it has launched a new online experience for advisers and investors.
Speaking on the announcement, Netwealth chief executive and managing director, Matt Heine, reflected on the firm’s journey thus far and his pride in reaching this “major milestone” as it continued to evolve.
“Fittingly, today also marks the next evolution and launch of our new online platform experience which provides a modern, intuitive and interactive interface that will support the next chapter of our growth,” Heine said.
“25 years ago, Netwealth was incorporated by our founder and director, Michael Heine, with a vision to create an innovative online wealth management platform.
“In 2007, eight years later, thanks to a number of early supporters, we achieved our first billion dollars of FUA and today, as we continue our mission to improve the financial futures of one million Australians, we are proud to administer 100 times that on behalf of our investors and superannuation members.”
Heine attributed the firm’s success in part to the support of various industry stakeholders.
“We are incredibly proud of what we have achieved as a business over the last 25 years but also the positive impact we have had on the industry, our employees, shareholders, the community and our clients.”
“Importantly, none of this would have been possible without the incredible support and guidance of our clients and partners or the commitment and hard work of the amazing Netwealth team who I am incredibly grateful to, and who I would like to thank on behalf of myself, Michael Heine and the Netwealth board.”
How many other advisers over the last 3 years are leaving, moving or not placing new business with Macquarie Wrap and now using NetWealth ?
Netwealth to HUB 24.