HUB24 gaining market share
HUB24 (HUB) -0.16%
Started with a bang, finished with a whimper though still marginally outperformed the broader market after providing a FUA update for the July quarter, rounding out FY20. It was a record year for HUB with further inflows in the final quarter, and the benefit of a strong market increasing FUA by 14% to $17.2b – an increase of $2.1b with a near even split between inflows and market performance.
Advisor numbers continue to grow adding to market share which came in just below the 2% level in a market still dominated by the bank aligned platforms. With a number of brokers signing up through the quarter, and advisors moving away from the old models, we expect market share to continue to climb with HUB the market leader of the independent names.
HUB24 (HUB) Chart
