1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
Preparing video
Key points:
Record FY26 revenue and dividend; statutory profit impacted by First Guardian remediation Ambition to deliver $18–20 billion FY27 net inflows and double FUA by 2030 Competitive strength versus HUB24 (ASX:HUB) and focus on affluent and high‑net‑worth advice Increased AI and technology investment viewed as critical to scale and future margins
Netwealth Group reports record full-year 2026 revenue, with MD Matt Heine stating that underlying business momentum remains strong despite the First Guardian Master Fund collapse. Heine notes revenue rises 20% to $391 million, while net profit drops 48% to $51 million after more than $105 million in legal and remediation costs. Underlying profit is said to be up 16%, with funds under administration near $139 billion and year‑to‑date net inflows at $2 billion. The final dividend of $0.21 per share takes the full‑year payout to a record $0.42, up 9%.
Heine outlines ambitions to generate $18–20 billion of net inflows in FY27, targeting a 47% earnings margin and aiming to double funds under administration by 2030, while stressing these are ambitions rather than formal forecasts. He cites Netwealth’s roughly 2% share of what is viewed as a much larger total addressable market as underpinning a “decades‑long” growth runway.
Competition with HUB24 (ASX:HUB) is described as intense, with Heine highlighting that together the two platforms capture about 80% of gross flows and are the only players increasing market share. Significant investment in technology and AI, including the “Nova” virtual assistant, is seen as key to scaling, improving adviser efficiency and supporting future margin expansion.
