Netwealth Expands Morgan Stanley Platform and FY26 Update
Key points
- Expanded platform solution for Morgan Stanley
- FY26 net flows of $15.4 billion
- FY27 net flows expected between $18B - $20B
Full summary
Netwealth Group Limited has announced an expansion of its platform solution for Morgan Stanley Wealth Management Australia, providing a comprehensive offering for ASX listed and domestic investments. This agreement marks a significant milestone in Netwealth's expansion into the stock broking and private wealth market. Netwealth reported preliminary FY26 net flows of $15.4 billion, with expectations of FY27 net flows between $18 billion and $20 billion, reflecting underlying momentum and new growth initiatives. The company anticipates an FY27 EBITDA margin of approximately 47%, driven by planned growth-focused initiatives. Netwealth's long-term ambition is to double its Funds Under Administration (FUA) over the next four years, with EBITDA margins trending towards 50% as growth delivers scale benefits.
Guidance
FY27 FUA net flows: $18B - $20B, FY27 EBITDA margin: 47%
Outlook
Netwealth anticipates doubling FUA over the next four years, with EBITDA margin trending towards 50%. The company expects continued growth driven by new client wins and expanding opportunities.
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