Netwealth Group Limited has reported total funds under administration of $125.8 billion as at 31 March 2026, representing 20.9% growth on the prior corresponding period. The standout feature of this quarterly update is the company’s ability to generate $4.0 billion in net flows during a period of market volatility, with the ASX All Ordinaries index declining 3.7% over the quarter. This demonstrates that Netwealth’s growth is being driven by genuine client acquisitions and flows rather than market appreciation alone.
The strength of Netwealth’s flow momentum becomes more apparent when examining the year-to-date figures. Net flows of $12.2 billion accumulated through the first nine months of the financial year paint a picture of a business capturing significant market share in Australian wealth management. Custodial FUA inflows reached $7.6 billion for the quarter, up 19.4% compared to the March 2025 quarter, suggesting the company is accelerating its capture of adviser flows across its key market segments. This acceleration is particularly meaningful given the competitive dynamics of the Australian wealth platform sector.
Managed Accounts represent another area of strong performance and strategic importance for Netwealth. Quarterly net flows into Managed Accounts reached $1.2 billion, up 34.8% year-on-year, while trailing twelve-month net flows hit a record $5.6 billion. The Managed Account FUM grew to $27.9 billion, representing 22.2% of total FUA and reflecting the growing adoption of this service by financial advisers. The addition of 34 new Managed Account models during the quarter indicates continued investment in product expansion to meet evolving adviser and client requirements. This product line carries higher margin potential than traditional custodial services, making the shift toward Managed Accounts an important driver of profitability.
Client acquisition metrics reinforce the narrative of sustained growth momentum. The total number of accounts increased by 4,454 during the quarter to reach 176,675 accounts, representing 2.6% quarterly growth and 13.4% growth year-on-year. More significantly, average FUA per account increased 6.5% year-on-year to $712,000, suggesting Netwealth is not only acquiring new clients but attracting clients with larger account balances. The establishment of 41 new intermediary relationships during the quarter indicates growing adviser adoption of the Netwealth platform, which bodes well for future flow trajectories.
The company’s management of operational metrics during volatile market conditions deserves recognition. Cash balances remained steady at 5.7% of custodial FUA, consistent with the prior year quarter, while non-custodial FUA increased significantly to $1.2 billion, up 56.6% year-on-year. These metrics suggest operational discipline and effective cash management across the platform. Investors should monitor whether Netwealth can sustain this flow momentum in coming quarters and whether the Managed Account penetration rate continues to expand. This announcement is price sensitive and has been flagged as material by the ASX.
View the full ASX announcement (PDF)
About Netwealth Group Limited (ASX: NWL)
Netwealth Group Limited is an Australian financial services company that operates a cloud-based investment administration software platform serving financial advisers, private clients, and other intermediaries. The company provides superannuation products, managed accounts, self-managed superannuation administration, and investment wrap services, charging software-as-a-service fees based on funds under administration and management. Founded in 1999 and headquartered in Melbourne, Australia, Netwealth also offers Netwealth-branded investment products managed by third-party investment managers.
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