Investment platform provider Hub24 has reported a significant increase in its funds under administration (FUA), which climbed 8 per cent over the September quarter to reach $122 billion. This represents a 33 per cent increase compared to the same period last year, signalling strong growth for the company. Hub24 provides a platform for financial advisers and their clients to manage investments, superannuation, and other financial assets. The company aims to offer innovative solutions and a wide range of investment options.
According to Hub24’s latest trading update, the growth in FUA was primarily fuelled by net inflows of $5.2 billion and positive market movements contributing $4.1 billion. These figures demonstrate the platform’s ability to attract new investments and capitalise on favourable market conditions. The substantial inflows highlight growing investor confidence in the platform and its offerings.
Hub24 also reported the signing of 41 new distribution agreements during the quarter. Furthermore, the total number of advisers utilising the platform has risen to 5,229. These metrics indicate a continued expansion of Hub24’s network and its growing appeal within the financial advisory community. The company is solidifying its position as a leading investment platform in the Australian market.
