HUB24 sees record quarterly inflows of $4.9bn

HUB24 saw record platform inflows in Q3 of $4.9 billion, thanks to the large migration of $1.3 billion from Clearview WealthFoundations to HUB24 Super.

Total funds under administration (FUA) reached $124.1 billion, up 24% on the prior corresponding period, including platform FUA of $102.5 billion.

On the platform side, HUB24 said it signed 28 new distribution agreements during the quarter and the total number of advisers using the platform increased by 129 to 5015.

HUB24 said around half of the increase in advisers was the result of the Clearview migration.

The platform provider said it is expecting an additional $900 million to be migrated in Q4 FY25 as the Equity Trustees (EQT) migration continues. This would bring the total EQT migrations over FY24 and FY25 to around $5 billion.

Additionally, HUB24 said that during the quarter its advice fee consent capability was updated to allow the option to include or exclude advice fees on a range of investments, which it said provides advisers with greater flexibility in tailoring fee arrangements.

HUB24 provided an update on the current market volatility, saying the platform is well placed to handle fluctuations.

"Recent market volatility has continued into April 2025. This has the potential to impact FUA, which is not fully correlated to equity markets due to the mix of client assets and trading behaviour on the platform. Whilst advisers are focused on supporting their clients through this period, to date there has not been a shift in momentum of net inflows," HUB24 said.

"Whilst acknowledging the market volatility, our business is resilient and operated in structurally growing markets, where there is strong demand for financial advice underpinned by demographic shits and a government mandated superannuation system."