HUB24 reports adviser growth, record inflows | Australian Markets

Platform supplier HUB24 has continued to say its growth credentials reporting record FY25 internet inflows on the back of a 13% increase within the quantity of financial advisers utilizing its platform.

The platform is now being utilized by almost a third of advisers registered on Financial Adviser Register (FAR).

In an replace delivered to the Australian Securities Exchange (ASX) HUB24 mentioned internet inflows had elevated to a record $19.8 billion within the final financial yr and pointed to additional growth within the subsequent 12 months.

The company mentioned that This autumn growth had seen Platform funds below administration increase 10% to $12.7 billion as at 30 June, up 34% on the prior corresponding period.

It mentioned this had been pushed by a 7% increase in internet flows of $5.3 billion and constructive market actions of $4.9 billion.

In doing so, HUB 24 acknowledged that the online inflows included $1.2 billion of giant migrations from EQT, albeit that excluding the massive migration, internet inflows had been a record $4.1 billion in This autumn up 33%.

The EQT migration is the outcome of the 2023 settlement with EQT to supply custodial platform administration and technology options for EQT and AET trustee providers purchasers.

The company mentioned that with the This autumn tranches accomplished, the EQT migrations had been now finalised noting that over FY24 and FY25 roughly $5.3 billion of FUA was migrated from EQT merchandise to the HUB24 platform.

The company mentioned that during the quarter, 31 new distribution agreements had been signed and the overall quantity of advisers utilizing the platform elevated to five,097.