Netwealth has moved past the $15 billion funds under management and administration (FUMA) mark after significant inflows into its non-institutional, private client and wealth management divisions.
Netwealth’s most recent announcement means a $756.5 million increase for the present financial year, as well as a 24.5 per cent ($219.5 million) increase in the company’s managed account service.
According to Netwealth managing director Matt Heine, this development shows how Netwealth’s managed account and platform technology has succeeded in expanding the company’s reach.
“The speed at which we’re growing is a testament to the consistent and successful execution of our growth strategy, which is supporting our continued and enhanced profitability,” Mr Heine said.
Aside from Netwealth’s FUMA growth, Mr Heine also confirmed the addition of three new private label managed accounts in July and in August.
Two of the big four banks have updated their home loan serviceability assessment policy in response to APRA’s regulatory amendments. ...
The Australian exchange-traded fund industry has overtaken the $50-billion milestone, according to the newly published report by BetaShares....
One chief executive has said that the reputation of bankers was at rock bottom and hoped that it would not get any worse. ...
Get notifications in real-time for staying up to date with content that matters to you.
