September 2025 Quarterly Business Update
| Stock | Netwealth Group Ltd (NWL.ASX) |
|---|---|
| Release Time | 9 Oct 2025, 8:35 a.m. |
| Price Sensitive | Yes |
Netwealth reports record first-quarter FUA net flows of $4.1 billion
- Total Funds Under Administration (FUA) reached $120.8 billion, up 26.6% year-over-year
- Record first-quarter FUA net flows of $4.1 billion, excluding pension payments of $0.3 billion
- Managed Account net flows hit a record $1.6 billion, up 49.4% from the prior quarter
Netwealth Group Limited (Netwealth), a leading Australian wealth management and technology company, has provided its business update for the September 2025 quarter. Total Funds Under Administration (FUA) reached $120.8 billion at the end of the quarter, up 26.6% from the prior corresponding period. This was driven by total FUA net flows of $4.1 billion, a first-quarter record, and positive market movements of $3.9 billion. Excluding pension payments of $0.3 billion, total FUA net flows were $4.4 billion. Managed Account net flows were a record $1.6 billion, up 49.4% from the prior quarter, reflecting strong organic growth in this product. Non-custodial FUA exceeded $1.0 billion for the first time, up 82.4% year-over-year. The total number of Accounts increased by 5,146, or 3.2%, for the quarter to 167,380 Accounts. Netwealth also announced a strategic partnership with FinClear to provide individual HIN data and trading access to investors and wealth professionals, as well as the launch of Netwealth Private, a new service designed for the specific needs of high-net-worth and ultra-high-net-worth clients and the firms that support them.
Netwealth today reaffirmed its previous FY26 guidance, namely: FUA net flows to not differ materially from FY25; total operating expense growth (in absolute dollar terms; excluding any impact of First Guardian) in line with FY25; and investment in capitalised software to increase by approximately $1 million on the 2H25 run rate.
Netwealth remains in a strong financial position, with a highly profitable business, strong EBITDA margin, very high levels of recurring revenue, and low capital expenditure. The company continues to explore all avenues available to assist its members in recovering some or all of their investments in the First Guardian matter, while supporting members' wellbeing.