Netwealth has seen a 10 per cent boost in funds under administration despite negative market movements.
FUA sits at $62.4 billion as of the end year, including a 10.2 per cent increase ($5.8 billion) during the year despite negative market movement of $4.6 billion, the platform provider said in a business update to the ASX.
Netwealth said it accounted for 47 per cent of industry net funds flows with total net inflows of $11.9 billion for the 12 months to September 2022.
During the December quarter, Netwealth continued to on-board clients who are piloting the new Multi Asset Portfolio service (MAPs) on a currently fee-free basis. The platform provider said it was on track to formally launch the product to broader market during the first quarter of 2023.
Netwealth mobile integration with customer relationship manager Xeppo is being piloted with a number of licensees, which helps advisers who use multiple platforms integrate information in one channel to clients.
The “Activities and Tasks” feature was launched which allows advisers and clients to view, approve and manage important tasks and alerts.
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