Netwealth has reached the $15 billion mark for funds under management and administration (FUMA), citing continuous growth among non-institutional and private clients and demand for its managed accounts offering.
Netwealth has seen an increase of $756.5 million for the current financial year, as well as a $219.5 million increase in the company’s managed account service for the same financial year, the company reported, pushing its FUMA upward.
Netwealth joint managing director Matt Heine said the figures mark a significant milestone for the fintech company.
“Over the past 12 months, we’ve seen our FUMA grow exponentially by more than $5.2 billion, underpinned by our strong offering and clear focus on delivering leading technology, supported by great service at a competitive price,” he said.
SUBSCRIBE TO THE IFA DAILY BULLETIN
News
- 16 Aug 2018Faith in adviser ethics fallsBy Reporter
- 15 Aug 2018CFS required no proof for service fees, RC hearsBy Killian Plastow
- 15 Aug 2018AFA reveals Female Excellence in Advice finalistsBy Reporter
- 15 Aug 2018CFS ‘retained’ adviser commissions: RCBy Killian Plastow and Tim Stewart
- 15 Aug 2018Suncorp urged advisers to maintain commissionsBy Jessica Yun
- 15 Aug 2018Hostplus spent $260,000 on tennis ticketsBy Tim Stewart
- view all
