Netwealth Group
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Netwealth Group (NWL) investor relations material

Netwealth Group Q2 2026 TU earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2026 TU earnings summary21 Jan, 2026

Executive summary

  • Achieved record custodial funds under administration (FUA) inflows of $8.4B for the December 2025 quarter, marking a second consecutive quarterly record.

  • Total FUA reached $125.6B, up 23.6% year-over-year, with net flows of $4.2B and positive market movement of $0.6B.

  • Number of accounts grew 2.9% sequentially and 13.7% year-over-year to 172,221.

Financial highlights

  • Managed Account net flows hit a record $1.8B, up 12.8% sequentially and 61.4% year-over-year; Managed Account FUM rose 32.3% to $27.5B.

  • Total FUM ended at $31.4B, up 30.6% year-over-year, with total FUM net flows of $1.9B for the quarter.

  • Non-custodial FUA was $1.1B, up 63.7% year-over-year.

  • FUA per account increased 8.7% year-over-year to $729K.

Outlook and guidance

  • FY26 FUA net flows expected to be similar to FY25.

  • EBITDA margin forecast at approximately 49%, excluding the impact of First Guardian compensation.

  • Capitalised software investment projected at $12M for FY26.

  • FY26 dividends to be based on underlying earnings, excluding the one-off compensation payment.

APRA undertaking: expected governance changes?
HIN/Private offerings: FUA growth expectations?
Custodial fee-paying FUA % decline: strategy?
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Frequently asked questions

Netwealth Group Limited is an Australian financial services company specializing in wealth management. The company provides a broad range of financial products and services including superannuation products for accumulation and retirement, managed accounts, and managed funds. Furthermore, Netwealth offers investor directed portfolio services catering to both superannuation and non-super investments. Their services extend to investment wrap products for self-managed super fund (SMSF) clients, incorporating investment options like listed and international securities, managed account models, managed funds, term deposits, premium services, and investor rewards. Insurance products, alongside forms and documents necessary for financial planning and management, are also part of their offerings. Netwealth supports financial intermediaries and private clients, including financial advisers, private clients, and high net worth firms, with advisory, licensee, and private wealth solutions. The company also provides tools and resources for portfolio management, performance tracking, investment research, and mobile access to manage investments effectively. Founded in 1999, Netwealth Group Limited is headquartered in Melbourne, Victoria, and its shares are listed on the ASX.

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