NWL.ASX: Morgan Stanley Platform Agreement and Market Update

Morgan Stanley Platform Agreement and Market Update

Stock	Netwealth Group Ltd (NWL.ASX)
Release Time	7 Jul 2026, 8:26 a.m.
Price Sensitive	Yes

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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.