HUB24 bullish on record Sept quarter flows
Platform provider HUB24 has expressed confidence that it can meet its 2026 financial year target of between $115 billion and $123 billion in funds under management (FUM) on the back of record September quarter flows of $4 billion.
In a quarterly update released to the Australian Securities Exchange (ASX) the company reported that net inflows were up 44% in the quarter compared to the prior corresponding period and that total funds under administration (FUA) reached $113 billion, up 37% on the prior corresponding period.
It pointed out that the increased FUM excluded large migrations.
The company told the ASX that the total number of advisers using the platform had increased over the quarter by 195 to 4,750, representing an increase of 17% over the prior corresponding period.
As well, it said that 44 new distribution agreements had been signed.
The update to the ASX pointed to platform enhancements introduced over the quarter, including the launch of pre-populated advice fee consent forms and an enhanced digital advice fee consent dashboard.
It said the advice fee consent capability had been extended to support all account types and one-off advice fees.
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