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
- 15 Oct 2018FASEA is setting a new standard for the industry: Assistant TreasurerBy Eliot Hastie
- 12 Oct 2018ASIC takes action on compliance breachesBy Adrian Flores
- 15 Oct 2018FPA board announces new chairBy Adrian Flores
- 15 Oct 2018New adviser capability added to IOOF offeringBy Adrian Flores
- 15 Oct 2018AFA names new state directorsBy Adrian Flores
- 12 Oct 2018Westpac boss warns against further regulationBy Charbel Kadib
- view all
