HUB24 Limited – Inflows in check

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HUB24 Limited (ASX: HUB) has recently recorded significant annual net inflows ($2.4bn) as the group benefitted from regulatory superannuation changes. For FY18, monthly net inflows on an average are $202 million compared to $161 million for FY17. With white label versions of the platform receiving the 31% of net inflows, HUB24’s retail products received 69% of net inflows. Net inflows were equally split between IDPS and Super accounts and were diversified across both new and existing advisers.

Funds under Administration (FUA) of $8.3b as at 30 June 2018, were up 51.2% on June 2017. Including Fitzpatricks Private Wealth with initial flows already received, 22 new licensees signed distribution agreements during the quarter representing significant growth opportunities. HUB24 ranked 1st in terms of adviser primary platform advocacy, 2nd in terms of adviser investment platform satisfaction in the Adviser Ratings 2018 Australian Financial Advice Landscape report and 3rd for overall adviser platform satisfaction in the Investment Trends May 2018 Planner Technology Report.

Development has commenced to facilitate the FUA transition of Fitzpatricks MDA which is on track to occur in late calendar year 2018 and a new HUB24 core offering will be launched during the next month to secure clients with lower average balances seeking simpler, lower cost solutions. HUB24 Limited traded at a market price of $14.29 and has seen a daily price change of $1.5 or a percentage change of 11.73%, on July 19, 2018, 4:10 pm AEST.

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