Company Reports

Netwealth is buying Paradino, an artificial intelligence platform that turns advisor meeting recordings into finished advice paperwork in minutes. The deal totals AUD 20 million upfront in cash and shares, plus up to a further AUD 9 million in earn-outs.

Netwealth provides investment administration software as a service. It includes portfolio administration, investment management tools, and investment and managed account services. The firm’s administrative capabilities encompass custodial and noncustodial assets. Netwealth’s product integrates with external software, allowing it to facilitate more functions and streamline the implementation of financial advice to clients under a single—its own—platform. While Netwealth services all cohorts, it is particularly successful catering to more affluent clients who generate more revenue because of greater asset values and trading activity. This supports Netwealth's higher operating leverage relative to its peers.

Netwealth's underlying NPAT for fiscal 2026 grew 16%, with strong revenue growth outshining the 1% decline in EBITDA margin to 49%. For fiscal 2027, the firm expects administered funds, or FUA, net flows to be 17%-30% above fiscal 2026's. It aspires to double its FUA by fiscal 2030.

We recently cut our fair value estimates for EML Payments and GQG Partners after we self-identified a valuation error in our treatment of share-based compensation. We've now reviewed our diversified financials coverage for the same issue and identified 10 affected companies.

Netwealth provides investment administration software as a service. It includes portfolio administration, investment management tools, and investment and managed account services. The firm’s administrative capabilities encompass custodial and noncustodial assets. Netwealth’s product integrates with external software, allowing it to facilitate more functions and streamline the implementation of financial advice to clients under a single—its own—platform. While Netwealth services all cohorts, it is particularly successful catering to more affluent clients who generate more revenue because of greater asset values and trading activity. This supports Netwealth's higher operating leverage relative to its peers.

Netwealth provides investment administration software as a service. It includes portfolio administration, investment management tools, and investment and managed account services. The firm’s administrative capabilities encompass custodial and noncustodial assets. Netwealth’s product integrates with external software, allowing it to facilitate more functions and streamline the implementation of financial advice to clients under a single—its own—platform. While Netwealth services all cohorts, it is particularly successful catering to more affluent clients who generate more revenue because of greater asset values and trading activity. This supports Netwealth's higher operating leverage relative to its peers.

Netwealth revealed funds under administration net flows of AUD 15 billion for fiscal 2026, while revealing a new platform relationship. It expects a 17%-30% FUA flow increase from the AUD 15 billion but lower EBITDA margins in fiscal 2027, aspiring to double its FUA over four years.

Netwealth provides investment administration software as a service. It includes portfolio administration, investment management tools, and investment and managed account services. The firm’s administrative capabilities encompass custodial and noncustodial assets. Netwealth’s product integrates with external software, allowing it to facilitate more functions and streamline the implementation of financial advice to clients under a single—its own—platform. While Netwealth services all cohorts, it is particularly successful catering to more affluent clients who generate more revenue because of greater asset values and trading activity. This supports Netwealth's higher operating leverage relative to its peers.

Netwealth's third-quarter fiscal 2026 funds under management and administration, or FUMA, increased 22% on last year to AUD 158 billion. Twelve-month net custodial flows were 15% of FUA, compared with 18% same time last year.

Netwealth provides investment administration software as a service. It includes portfolio administration, investment management tools, and investment and managed account services. The firm’s administrative capabilities encompass custodial and noncustodial assets. Netwealth’s product integrates with external software, allowing it to facilitate more functions and streamline the implementation of financial advice to clients under a single—its own—platform. While Netwealth services all cohorts, it is particularly successful catering to more affluent clients who generate more revenue because of greater asset values and trading activity. This supports Netwealth's higher operating leverage relative to its peers.

Netwealth's underlying net profit after tax for the first half of fiscal 2026 increased 20% to AUD 69 million. This was supported by a 25% increase in platform revenue, as funds under administration and management grew 25%. Shares reacted positively, up 15%, but still below record highs last year.

Netwealth provides investment administration software as a service. It includes portfolio administration, investment management tools, and investment and managed account services. The firm’s administrative capabilities encompass custodial and noncustodial assets. Netwealth’s product integrates with external software, allowing it to facilitate more functions and streamline the implementation of financial advice to clients under a single—its own—platform. While Netwealth services all cohorts, it is particularly successful catering to more affluent clients who generate more revenue because of greater asset values and trading activity. This supports Netwealth's higher operating leverage relative to its peers.

For the first quarter of fiscal 2026, Netwealth's funds under administration increased 27% to around AUD 121 billion. Funds under management grew by 31% to nearly AUD 30 billion.

Netwealth's underlying net profit after tax for fiscal 2025 increased 40% to AUD 117 million. This follows a year of record inflows, with EBITDA margins up to 50% from 49%.

Netwealth provides investment administration software as a service. It includes portfolio administration, investment management tools, and investment and managed account services. The firm’s administrative capabilities encompass custodial and noncustodial assets. Netwealth’s product integrates with external software, allowing it to facilitate more functions and streamline the implementation of financial advice to clients under a single—its own—platform. While Netwealth services all cohorts, it is particularly successful catering to more affluent clients who generate more revenue because of greater asset values and trading activity. This supports Netwealth's higher operating leverage relative to its peers.

Total shareholder returns for Hub24 and Netwealth since the start of 2025 to July 24, 2025 were around 50% and 27%, respectively, significantly outpacing the S&P/ASX 300 return of close to 9%.

Netwealth provides investment administration software as a service. It includes portfolio administration, investment management tools, and investment and managed account services. The firm’s administrative capabilities encompass custodial and noncustodial assets. Netwealth’s product integrates with external software, allowing it to facilitate more functions and streamline the implementation of financial advice to clients under a single—its own—platform. While Netwealth services all cohorts, it is particularly successful catering to more affluent clients who generate more revenue because of greater asset values and trading activity. This supports Netwealth's higher operating leverage relative to its peers.

Netwealth reported solid net inflows and growth in member accounts for the third quarter of fiscal 2025. Flows remained strong in April despite market volatility, with Netwealth expecting a seasonally strong June quarter.

Netwealth provides investment administration software as a service. It includes portfolio administration, investment management tools, and investment and managed account services. The firm’s administrative capabilities encompass custodial and noncustodial assets. Netwealth’s product integrates with external software, allowing it to facilitate more functions and streamline the implementation of financial advice to clients under a single—its own—platform. While Netwealth services all cohorts, it is particularly successful catering to more affluent clients who generate more revenue because of greater asset values and trading activity. This supports Netwealth's higher operating leverage relative to its peers.

Netwealth's first-half fiscal 2025 net profit grew by 47% from first-half fiscal 2024 to around AUD 58 million. EBITDA margins expanded to 50% from about 48%.