In its final quarter results, Netwealth ended the FY24–25 with a spate of records across inflows, total FUA, and new accounts.
During the June quarter, the platform’s total FUA increased by $8.7 billion. While a sizeable chunk of the growth was thanks to net flows of $3.8 billion, it was also boosted by $4.9 billion in positive market movements.
Taking the full year into account, Netwealth said it secured record inflows $29.2 billion and finished the financial year at $112.8 billion FUA.
This represented growth of 28 per cent, or $24.8 billion for FY24–25, including $15.8 billion net flows and $9 billion in market movement.
“FUA inflows were driven by consistently high transition rates from existing financial intermediaries and strong conversion rates of new business from a broad range of client groups and segments,” Netwealth said.
“FUA outflows were at slightly elevated levels, due to partial withdrawals from larger accounts following increased market volatility. These outflows were primarily from non-fee-paying FUA, and as such, the financial impact was modest.”
Also a quarterly record was the 6,496 accounts increase in accounts, boosting the total number of accounts by 4 per cent to 162,234 at 30 June 2025 – a 13 per cent increase for FY24–25 overall.
On the funds under management front, net flows were 16 per cent higher than the prior corresponding period at $1.1 billion for the quarter, putting total FUM at $27 billion.
According to the firm, the growth in FUM was “concentrated” in the managed accounts space, which accounted for 96 per cent of the flows while managed funds contributed $40 million.
“The ratio of managed account FUM to total FUA continued to rise over the quarter and stood at 20.8 per cent, up from 20.6 per cent at the start of the quarter, and up from 20.0 per cent a year ago,” Netwealth said.
“This underscored the strength of managed accounts in enabling advisers to quickly and efficiently manage clients’ portfolios during periods of heightened market volatility.”
In the June quarter, Netwealth added nine new private label model suites (comprising 43 models), increasing its managed model suites to 136 (comprising 799 models). Through its Accelerator Core product offering, it now has a total of 60 managed models.
During the quarter, Netwealth also added a multi-asset series of separately managed accounts from Activam Group to the platform, which blends a mix of asset classes to optimise client outcomes while managing risk and provides more choice to match client goals and risk profiles.
The firm added that it is “confident” in its future outlook, expecting to attract more new advisers and clients to the platform.
“We remain confident in our net flows outlook for FY26 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,” Netwealth said.
