Highlights

• Funds Under Administration (FUA) climbed 20.3% to AU$135.7 billion, supported by record gross inflows.
• Total income increased 20.6% to AU$391.1 million, while adjusted NPAT rose 16.2%.
• Netwealth declared a fully franked final dividend of 21.0 cents per share, taking FY26 dividends to 42.0 cents per share.

Record Platform Growth Drives FY26 Performance

Netwealth Group Limited (ASX: NWL) reported another year of strong operational expansion in its FY26 Annual Report, with the report dated 26 August 2026. The wealth management platform recorded significant growth in funds and client numbers despite a challenging market environment marked by inflation, geopolitical uncertainty and periods of volatility. FUA increased 20.3% to a record AU$135.7 billion, while Funds Under Management (FUM) rose 27.9% to AU$34.6 billion. The company generated record gross FUA inflows of AU$32.9 billion, reflecting continued demand from financial intermediaries and strong conversion of new business.

Income and Adjusted Earnings Move Higher

Netwealth's financial performance also benefited from the expansion of its platform. Total income reached approximately AU$391.1 million, representing growth of 20.6% from FY25. Platform revenue increased 21.0% to AU$382.9 million, supported by administration, cash, management and transaction fees. Adjusted EBITDA increased 18.0% to AU$192.9 million, while adjusted NPAT rose 16.2% to AU$135.4 million. Adjusted earnings per share also advanced 16.0% to 55.2 cents.The adjusted earnings figures do not account for costs related to the First Guardian issue, while the statutory outcome included AU$105.2 million in expenses arising from the fund’s collapse and the related regulatory actions. Statutory net profit attributable to members was AU$60.6 million, compared with AU$116.5 million in FY25.

Stronger Client Base Supports Future Growth

Client accounts increased 12.4% to 182,276, while financial intermediaries using the platform grew 5.9% to 4,205. Managed account balances also expanded 29.9% to AU$30.5 billion. Management is forecasting FY27 FUA net flows between AU$18 billion and AU$20 billion, alongside an EBITDA margin of around 47%, with the guidance excluding First Guardian and RISE-related expenses. Netwealth also continues to target doubling FUA over the four years to FY30.Note- All data presented is based on information available at the time of writing.Disclaimer for Kapitales ResearchThe materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise. 

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