Netwealth (NWL) $17.73

Netwealth (NWL) +11.72%: the independent platform names continue to see inflows above the market rate, this time Netwealth reported better than expected numbers for their Dec Quarter with FUA up 14%. The $4.8b was split reasonably evenly between a positive market move ($2.2b) and net additions ($2.6b) to see total FUA to $38.8b. They also upped their expectations for FUA flows as the industry continues to consolidate, now looking for over $8.5b of net flows for FY21, around 20% growth on current numbers.

chart

Netwealth (NWL)

LAST UPDATED 22/01/2021 07:43

Close

chart

Netwealth (NWL)

LAST UPDATED 22/01/2021 07:43