Netwealth reports $4bn net inflows

Netwealth saw $4 billion in net inflows in the March quarter, offsetting broader market movement declines of $3.7 billion during the period.

Total funds under administration (FUA) as at March 31 was $125.8 billion, an increase of 20.9% on the prior corresponding period.

"The March 2026 quarter saw heightened market activity, with the ASX All Ordinaries index falling 3.7% over the period, contributing to a 3% reduction in FUA from market movements," Netwealth said.

Total custodial FUA inflows rose 19.4% to $7.6 billion, which Netwealth said demonstrates sustained and increasing momentum in the business.

Netwealth said FUA net flows continued to benefit from ongoing flows from existing financial intermediaries across all market segments.

"In addition, 41 new intermediary relationships were established during the period, as well as an additional 4454 new accounts," Netwealth said.

Non-custodial FUA was $1.2 billion as at March 31, 56.6% higher than the prior corresponding period.

Funds under management (FUM) was $31.8 billion as at March 31, an increase of 28.5%.

"This was driven by growth in Managed Account FUM of $0.5 billion for the quarter, up 30.4% on PCP to $27.9 billion," Netwealth said.

Looking ahead, Netwealth said it remains in a strong financial position, saying it is highly profitable with a strong EBITDA margin.

For FY26, Netwealth said it expects FUA net flows to remain mostly unchanged from FY25, and an EBITDA margin of around 49%, excluding any impact from the First Guardian fund collapse.

Netwealth added it has launched a range of artificial intelligence (AI) training courses across the business for all staff in addition to launching a new AI developer tool kit for engineers and product managers, which it said is delivering immediate efficiency benefits.