Netwealth sees FUM rise, looks to expand

Platform provider Netwealth is looking to add new members to its team, as its funds under management and administration reaches $11 billion.

In a LinkedIn announcement this week, Netwealth joint managing director Michael Heine said the platform provider is on track to reach $20 billion in FUM by 2020.

Now, Mr Heine said the company is looking to hire in all areas of the business, including IT, operations, finance and compliance.

“Netwealth has achieved significant success and is growing rapidly,” Mr Heine said.

“We are a leader in the platform space and need experienced people to drive our continued success.”

The growth plans comes less than a month after Netwealth announced it sold the compliance services arm of Pathway Licensee Services to Catalyst Compliance. 

ifa had reported in October that Netwealth had decided to seek a buyer for Pathway’s compliance business, as it “no longer meets long-term objectives and strategy of the Netwealth group”.

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