The financial services group reports that fourth-quarter custodial inflows increase 11% from a year earlier to $8.4 billion, reflecting steady demand across products, services and market segments. Managed account funds under management surge 30% over the same period to $30.5 billion.
Net inflows into the platform hit $3.2 billion in the quarter.
Strong growth in non-custodial business lifts funds under administration 53.6% year-on-year to $1.4 billion. The total number of accounts on the platform edges 3.2% higher to 182,276.
Platform metrics show advisers and investors are still consolidating assets onto Netwealth, particularly into managed accounts. The combination of higher inflows, rising account numbers and expanding non-custodial balances provides multiple levers for revenue growth.
Netwealth notes that platform performance earlier in the year does not move in a straight line. Adverse market movements in the March quarter weigh on total assets and temporarily soften the FUA headline.
Market conditions then turn more supportive in the June quarter, adding a further $6.7 billion to FUA through positive market movements alone.
