Netwealth’s investment platform has experienced 11 per cent growth since July off the back of increased adviser demand.
Speaking to ifa, Netwealth executive director Matt Heine said the company reached the platform growth milestone last week, with an increase of $570 million in a few months.
“We have had a great start to this financial year,” Mr Heine said.
“FUM is at an all-time high, inflows are tracking well above budget and we have already registered in excess of 170 new advisers, against 373 last year.
“We are in a great position to service and support existing business models but also to help advisers implement new ways of doing business using our technology and support services,” he said.
Mr Heine said 75 per cent of total FUM now comes from the “non-aligned and private client” segments of the financial advice industry.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 16 Aug 2017UBS appoints head of wholesale distributionBy Staff Reporter
- 17 Aug 2017Formerly banned adviser to face further ASIC chargesBy Staff Reporter
- 16 Aug 2017Challenger announces ‘strategic relationship’ with Japanese insurerBy Staff Reporter
- 16 Aug 2017Income protection insurance launched for on-demand workersBy Staff Reporter
- 17 Aug 2017New evidence for self-licensing surgeBy Aleks Vickovich and Linda Santacruz
- 16 Aug 2017RegTech to reduce adviser misconductBy Aleks Vickovich and Larissa Waterson
- view all