Netwealth stock targets FY30 FUA doubling after record FY26
Published on 11/13/2026 at 03:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSGrowth, guidance and governance
- Netwealth reported FY26 total income of AUD 391.1 million and adjusted NPAT of AUD 135.4 million.
- Funds under administration reached AUD 140.6 billion on November 9, 2026.
- The group is investing in adviser productivity, artificial intelligence and the Paradino advice-workflow business.
- First Guardian compensation and governance reforms remain important investor considerations.
Netwealth used its annual general meeting on Wednesday, November 11, 2026, to present record FY26 operating figures and reaffirm its expansion plans. The company's AGM presentation said funds under administration had reached AUD 140.6 billion on November 9, up from AUD 135.7 billion at June 30.
Netwealth reported FY26 total income of AUD 391.1 million, an increase of 20.6 percent. Adjusted EBITDA rose 18.0 percent to AUD 192.9 million and adjusted net profit after tax increased 16.2 percent to AUD 135.4 million. These adjusted figures exclude AUD 100.7 million of First Guardian compensation and AUD 4.5 million in related legal and consulting costs; statutory net profit after tax was AUD 60.6 million.
Flows support platform expansion
Management guided to FY27 funds-under-administration net flows of AUD 17 billion to AUD 19 billion and an operating EBITDA margin of about 47 percent, excluding First Guardian and RISE expenses. Capitalised software investment is expected to be about AUD 17 million, while Paradino is expected to post an EBITDA loss of about AUD 3 million during its first year within the group.
Netwealth said it intends to lift adviser productivity through automation, workflow tools, artificial intelligence and self-service features. The company completed its acquisition of Paradino in September and plans to invest a further AUD 10 million over two years to accelerate the platform's product roadmap. Management described its plan to double funds under administration by FY30 as an ambition rather than guidance.
Governance remains a central issue
The AGM presentation also addressed the First Guardian collapse. Netwealth said it had paid compensation to affected members and established Program RISE after agreeing to an enforceable undertaking with APRA to strengthen investment governance. A class action against Netwealth remains before the courts, and the company said it is defending the proceedings.
Netwealth's business and rivals
Netwealth is an Australian financial services and technology company headquartered in Melbourne. Through its digital platform, it provides portfolio administration, superannuation, retirement, investment, managed account and reporting solutions to investors and financial advisers, including private-client and high-net-worth firms, according to the company's shareholder centre. In the Australian platform market, Netwealth reported a 9.8 percent share at June 30, behind HUB24 at 10.1 percent and ahead of Praemium at 2.5 percent in the company presentation. That places Netwealth among the leading specialist platforms while larger legacy providers remain active competitors.
Netwealth Group at a glance
- Company: Netwealth Group Limited
- ISIN: AU000000NWL7
- Ticker: NWL
- Home exchange: Australian Securities Exchange
- Headquarters: Melbourne, Australia
- FY26 total income: AUD 391.1 million
- Funds under administration at November 9, 2026: AUD 140.6 billion
- FY27 FUA net flow guidance: AUD 17 billion to AUD 19 billion
Australian wealth-platform shares are being assessed against the broader domestic equity backdrop, with the S&P/ASX 200 serving as the main market benchmark.
More news and analyses on Netwealth stock.
