HUB24 platform inflows drop 23% to $4bn in Q1

HUB24's platform net inflows fell 23% to $4 billion in the September quarter, down from $5.2 billion a year earlier.

Flows have now held near the $4 billion mark for three consecutive quarters, after peaking at $5.6 billion in the December 2025 quarter.

"In the context of the subdued macroeconomic environment, these net inflows represent a strong start to FY27, reflecting our innovative market-leading solutions, client service excellence, and the strength of our customer relationships," HUB24 said.

Total platform funds under administration (FUA) came in at $143.7 billion for the quarter, up 3% over the quarter.

Superannuation net inflows were resilient with gross inflows increasing from the same period last year. Gross outflows in superannuation and Investor Directed Portfolio Services (IDPS) were both broadly stable year-on-year as a percentage of average platform FUA.

"The recent and proposed tax changes further reinforce the need for professional advice and increase the attractiveness of superannuation for Australians saving for their retirement," HUB24 said.

"These changes are expected to underpin growth in superannuation over the long term."

HUB24 said the macroeconomic environment, including tax changes, can impact inflows in the short term as advisers and investors refine their investment strategies.

HUB24 saw 211 new advisers join the platform, taking total active advisers count to 5860 as of September end. It also signed 45 new licensee agreements during the quarter.

"Structural drivers including shifting demographics, strong demand for financial advice, and the ongoing transformation of the advice industry, continue to create growth opportunities for HUB24," HUB24 said.

It recently appointed Justine Marquet as head of technical services, a role she held with Allianz Retire+ for the past three years. At HUB24, she will work to increase adviser knowledge, engagement and strategy adoption, while developing digital tools to enhance advice strategies.